Bad and doubtful debts
When you are preparing the financial statements for a business, you will frequently find reference to bad and doubtful debts.
Read moreFinancial Accounting
Financial Accounting helps in keeping systematic records to ascertain financial position and financial position of an entity. These records form the fundamentals for the accounting for decision purpose.
Accountancy is not just about numbers anymore, it is integral to the success of many modern businesses. The fast moving and diverse nature of business operations means accountants are involved in exciting and dynamic decisions on a daily basis and communicate with a wide range of stakeholders. Modern accountants also have up to date knowledge and experience of contemporary accounting information systems.
Myth about depreciation
It is most important to realise that the depreciation concept is not designed to provide a means or method to
Read moreAudit, Assurance and Compliance – A case study of BHP Billiton
Executive Summary The report has provided an insight into the annual report of BHP Billiton for the assessing, analysing and
Read moreECO – 14: Accountancy – II – Solved IGNOU Assignment 2017-18
Question 1. Explain the different system of maintaining the accounts of a dependent branch. How profit is ascertained under each
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Perpetual Inventory System
What is Perpetual Inventory System? A company using a perpetual inventory system keeps a continuous record of the physical quantities
Read moreWhat is Process Value Analysis
Process Value Analysis Process value analysis (PVA) is a technique that managers use to identify and link all the activities
Read moreRatios are mechanical and incomplete
Ratios are basically figures that represent an element’s value in terms of the other. These are one of the most
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Chart of Accounts
The Chart of Accounts is a classified list of all the ledger accounts in an organisation. The accounts are usually classified
Read moreThe development of accounting thought – Luca Pacioli
History of Double Entry System Accounting has a long history. Archaeologists continue to be interested, for example, in ancient Mesopotamia and
Read morethe relationship between the AASB and the FRC, AUASB, ASIC, APRA, ASX
The FRC provides broad oversight of the process for setting accounting standards in Australia. The FRC appoints the members of the AASB,
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