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
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
Prepayments, concepts and accounting So today’s question is, how to handle prepaid transactions in accounting & bookkeeping. There are below 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
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
Accruals and Provisions In accounting, the term accruals refer to those obligations for which a formal demand of payment 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
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
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
Revenue recognition in Insurance Sector Revenue recognition in the insurance sector is little daunting at first sight. However, you can grasp October 31, 2019