Accounting for Leases – IFRS 16
Some of the key points IFRS 16 requires:
Application:
IFRS 16 “Leases” is effective from 1 January 2019
January 3, 2020
WORKING CAPITAL MANAGEMENT
What is capital
Capital refers to total investment in a business. This capital has usually two components,
January 3, 2020
ROCE – Return on Capital Employed
ROCE is one of the tools in the tool box of a financial analyst. This is
January 3, 2020
Implementation of IFRS 17 – Insurance Contracts
IFRS 17 is a major transformation in the way insurance companies are currently accounting. This standard
January 3, 2020
Cash and trade discounts explained intelligently
A discount is kind of a concession or waiver from the original obligation.
For example, if a
January 3, 2020
Direct Cost, Variable Cost, Fixed Cost, Indirect Cost
Do you find it confusing on how to classify costs among direct cost, variable cost, fixed
December 6, 2019
Share capital, definitions and types
Shares:
The term shares frequently refer to ‘share capital’. The word ‘shares’ is used as a short
December 6, 2019
Ten misconceptions about Role of External Auditors
In today’s complex corporate governance requirements, the role of external auditors is quite important and significant.
December 6, 2019
Prepayments, concepts and accounting
So today’s question is, how to handle prepaid transactions in accounting & bookkeeping. There are below
December 6, 2019
Planning and Control
Planning and Control are two words often used together, mostly in the corporate world, usually in
December 6, 2019
Performing audit procedures on trade receivable (debtors) balances
Trade receivables are one of the risky areas in an audit assignment, and it should be
December 6, 2019
Introduction to the closing of books of accounts
Have you ever wondered why accountants are more busy at the end of the months? Well,
December 6, 2019
Meaning of ‘Account’
The word ‘account’ has multiple meanings in different contexts, so you need to check the background
December 6, 2019
20 Factors to consider while selecting the right MBA program
Many professionals, at one stage of their life, feel stuck in their current role and industry.
December 6, 2019
Significance of Intangible Assets and their Accounting treatment
Introduction and examples of intangible assets
Intangible assets are those assets which cannot be physically touched. This
December 5, 2019
What is an accounting transaction and an accounting event?
The word ‘transaction’ is commonly used in business and finance circles. We hear sentences like “how
December 4, 2019
Value Creation in a Retail Business
In this article, we’ll be discussing different routes of value creation for a retail business.
Every organization
November 26, 2019
How to join an audit firm
If you are inspired to choose auditing as a career, then, as a next step, you
November 26, 2019
How to generate new business ideas
As an aspiring entrepreneur, you would be tempted to commence a business. However, to initiate a
November 26, 2019
How to become a Finance Manager
If you are an accounting & finance student or at the early career stages of accounting
November 26, 2019
LET ME INTRODUCE YOU TO FINANCIAL STATEMENTS
What are the financial statements?
How to obtain financial statements?
What information financial statements provide?
How and why financial
November 26, 2019
External Auditing as a Career
Auditing is a vast subject, has a massive impact on our society and plays a pivotal
November 26, 2019
Earnings Per Share (EPS)
Earnings per share = Net Profit After Interest, Tax and Preference Dividends / Number of Shares
Earnings
November 26, 2019
Dividend Per Share
Dividend per share is a measure for the company’s financial performance. Corporate world widely uses this
November 26, 2019
Disclaimer of audit opinion
The external auditor of the company will issue a report of the disclaimer if he is
November 26, 2019
The Debt-Equity (D/E) Ratio (Gearing / Leverage)
Usage and Application
Usage of the debt-equity ratio is essential in the following cases:
Investments decisions: When a
November 18, 2019
A brief comparison of Internal Audits and External Audits
You might be wondering which audit is better, internal audit or external audit. Which audit is
November 18, 2019
Markup Vs. Margin (or Gross Profit margin)
$
Businance.com
Cost amount
12
Profit
3
Sales price
15
Markup
25.00%
Profit divided by cost
GP margin
20.00%
Profit divided by sales
A markup is a profit as a
November 18, 2019
Bookkeeping and Accounting
What is Bookkeeping?
What is Accounting?
Bookkeeping vs Accounting
What is the difference between bookkeeping and accounting?
What is the
November 18, 2019
Big 4 firms or Non-Big 4? A comparison
There are four audit firms in the world which are categorized as ‘Big 4’, their names
November 18, 2019
Bad Debts (and how bad they can be)
From the term ‘bad debts’ a bad image comes to mind. Something very bad or disgusting.
Does
November 18, 2019
AUDIT RISKS AND AUDIT PROCEDURES FOR CASH AND BANK ACCOUNTS
Hello, welcome to your new role. In this role as an external auditor of company ABC
November 18, 2019
Accruals and Provisions
In accounting, the term accruals refer to those obligations for which a formal demand of payment
November 18, 2019
Assets and their types
Definition
An asset by definition is a “resource in the control of the entity from which economic
November 1, 2019
A comprehensive overview of Depreciation
Why there is a need for a depreciation charge?
A good accounting system records all income and
November 1, 2019
Basics of Double Entry Accounting System
Let me clarify one thing guys, double-entry accounting is not doubling of accounting. There is no
November 1, 2019
Impairment of Assets
Impairment by definition:
“Impairment is a factor which hampers the ability of an asset to yield future
November 1, 2019
Management Reporting
Background
How does a CEO decide that the company should launch a new product?
How would the Board
November 1, 2019
Responsibilities of a Busy Finance Manager
What are the responsibilities of a Finance Manager? What do they keep doing the whole day?
October 31, 2019
Revenue recognition in Insurance Sector
Revenue recognition in the insurance sector is little daunting at first sight. However, you can grasp
October 31, 2019
SWOT ANALYSIS IN BUSINESS MANAGEMENT
SWOT is an abbreviation of four letters which are:
Strength
Weakness
Opportunity
Threat.
A SWOT analysis is a simple but effective
October 30, 2019
Statement of Cash Flows
A Statement of Cash Flows (or as formally called cash flow statement) provides an explanation in
October 29, 2019
