When an accounting period has come to an end, the accountants will transfer the balances in the…
An internal audit is different from that of a financial audit. Usually, as a business owner, you will…
Handling a business is never an easy task. Besides managing the accounts of your firm…
You may think that every financial account on the balance sheet functions additively with each…
The receivable turnover can be used as a measure of the efficiency of a company in collecting its…
Businesses in the manufacturing sector buy raw materials and utilise them in the process of…
Outstanding cheques are the cheques that the company which issued it has recorded, yet the…
Adjusting entries are the journal entries that the accountants would record when an accounting…
The transaction cycles are transactions in business which are interconnected to each other. When…
The net realisable value refers to the estimated selling price of goods, subtract costs of disposal or…
When you perform bank reconciliation, you need to compare the records of the activities of your…
Goodwill impairment of a company happens when the recognised goodwill, which is related to…