In our life we must learn few Important Things which will not be taught in School, so we have to put an effort and learn more by reading habit.
10 Best books for your Life & Self Improvement
Tag: principles
Switch Bill of Lading and their types – Supply Chain Management
A complete manual and word of advice as per below details to understand switch bill of lading and their types: What it means? A switch Bill of Lading refers to a second set of Bill of Lading issued by the carrier (or its agent) to substitute the original bills of lading issued at the time of shipment.Even […]
Simple Steps to learn Accounting for Balance Sheet Preparation
Learn how simple Balance Sheet Preparation is, you will easily understand logic behind this with this Image presentation posted below: The Accounting Equation is a fundamental concept in accounting that represents the relationship between a company’s assets, liabilities, and equity. The equation is as follows: Assets = Liabilities + Equity The accounting equation must always […]
Introduction – The Accounting Equation
From the large, multi-national corporation down to the corner beauty salon, every business transaction will have an effect on a company’s financial position. The financial position of a company is measured by the following items: The accounting equation (or basic accounting equation) offers us a simple way to understand how these three amounts relate to each other. […]
IFRS Standard & Interpretation Updates
Financial statement considerations in adopting new and revised pronouncements Where new and revised pronouncements are applied for the first time, there can be consequential impacts on annual financial statements, including: Whilst disclosures associated with changes in accounting policies resulting from the initial application of new and revised pronouncements are less in interim financial reports under IAS […]
Brief Overview of IFRS & How it’s different from US GAAP
“What’s the fuss over IFRS?” Providing a brief overview of the transition to adoption of IFRS and convergence with US GAAP. While we realize that IFRS will become a future reality, the question lingered regarding the differences between the two accounting standards. I thought it would be useful to assess the areas of major differences. […]
Financial Accounting – Concepts
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What is Accounting & how it is classified?
Accounting is the systematic process of recording, summarizing, analyzing, and reporting financial transactions of a business or individual. It serves as the backbone of any financial system, providing a clear picture of an organization’s financial health and guiding decision-making. Through accounting, businesses can track income and expenses, ensure statutory compliance, and provide investors, management, and […]
SFAS 78 With Summary
SUMMARY OF STATEMENT NO. 78CLASSIFICATION OF OBLIGATIONS THAT ARE CALLABLE BY THE CREDITOR—AN AMENDMENT OF ARB NO. 43, CHAPTER 3A (ISSUED 12/83)SummaryThis Statement amends ARB No. 43, Chapter 3A, “Current Assets and Current Liabilities,” to specify the balance sheet classification of obligations that, by their terms, are or will be due on demand within one […]
VAT(Identification of Designated Zones) – UAE
VAT treatment of Free Zones VAT is a general consumption tax imposed on most supplies of goods and services in the UAE. By default, it is chargeable on supplies of goods and services throughout the territorial area of the UAE. This territorial area will also include those areas currently defined as both fenced and non-fenced […]