Accounting & Football

People are not listed as assets of a company, although their skills and expertise may generate revenue. The exception to this is football players. They generate revenue for the club, and can be sold off (unlike regular employees – I hope!) Football players are a special group of assets, meeting the qualification criteria  for IAS 38. In order to capitalise or put a value on … Continue reading Accounting & Football

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Do you know…

Last year, Monsignor Nunzio Scarano , the Bishop of Salerno –  Chief Accountant of the Vatican was arrested on fraud and corruption charges.  The Bishop whose nickname was ‘Don 500 Euros‘  was indicted on charges of money-laundering, cash  smuggling and other charges. Continue reading “Do you know…”

Quick Tip: Calculating Percentages

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Understanding Purchases & Sales

Purchases and Sales are common  accounting terms, which students are expected to understand, and tested on at the foundation level. Students taking further exams are expected to  have a clear understanding what constitutes purchases and sales.

For the purpose of accounting, Continue reading “Understanding Purchases & Sales”