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
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…”
That current assets should be listed in a certain order in the Statement of Financial Position? Continue reading “Do you know……”
COPYRIGHT © countingonaccounting and Nuan Moji, 2013. The unauthorised use and/or duplication of this material without express and written permission from this blog’s owner is strictly prohibited. Excerpts & link may be used, if full & clear credit is given to Nuan Moji (blog owner), and countingonaccounting, with appropriate and specific direction to the original content. Continue reading Quick Tip: Calculating Percentages
Hello All, I’d like to suggest Tobi’s blog to students taking tax exams under the UK stream. The blog is run by Tobi, a chartered accountant I interviewed back in March . He runs a private practice, so his blog general advise on tax laws and regulation in the UK, which can be useful for students on the UK stream, but not in the UK. Please … Continue reading UK Tax
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”
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