opinion
Why do companies change fiscal year end?
Why Companies Vary Fiscal Year-Ends While there may be a variety of arguments for why companies might choose different fiscal year-ends, the main reason t...
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Opinion
opinion
Do notes receivable have a fixed maturity date?
A note receivable is a formal promise in writing to pay a specific amount of money on a specified date or dates, made between a borrower (the one who borr...
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opinion
What SFAS 116?
FAS 116 Summary This Statement establishes accounting standards for contributions and applies to all entities that receive or make contributions. Generall...
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opinion
Which entry is passed for withdrawing of goods by the proprietor for personal use?
Debit – Drawings a/c It provides the information relating to the amounts withdrawn by the owner or proprietor for personal use. The same account is used t...
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opinion
What is directors remuneration in income statement?
Director’s remuneration is the amount paid to the directors of a company either in cash or by using the company’s property with approval from the sharehol...
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opinion
What is the difference between a notice to reader and review engagement?
Typically, a review engagement is requested by stakeholders in a company (bank, shareholders, etc.) to ensure that the amounts within the financial statem...
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opinion
How do you calculate net debt issued?
Example of Net Debt To calculate net debt, we must first total all debt and total all cash and cash equivalents. Next, we subtract the total cash or liqui...
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opinion
Where does increase in accounts payable go on cash flow statement?
Accounts payables are increases, this is considered a cash inflow because the company has more cash to keep in its business. This is then added to net inc...
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opinion
What is the best way to study for accounting?
BEGIN THE FIRST DAY OF CLASS. How to get good at accounting! MAKE BEST USE OF CLASS TIME. DO NOT HESITATE TO ASK QUESTIONS. ESTABLISH A ROUTINE TIME TO ST...
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opinion
How can audit quality be improved?
Factors audit firms should consider to improve audit quality include: conducting effective quality reviews of audits. remediating findings by obtaining th...
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