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
