Historical cost or valuation IFRS: Historical cost is the main accounting convention. However, IFRS permits the revaluation of intangible assets, property, plant and equipment (PPE) …

I have not followed FASB for quiet age and wondering “what is new at FASB?” Found lots of things are published recently: New exposure draft …

In deal with past-due invoice is not easy task, I know. Some view says that in today’s economy, the consumer feels more in control. It …

This is specifically written as a supplement of my previous post about “Developing Credit Policy”. As I aware that company may need to arrange a …

This is to follow my previous post about credit policy. And on this post we are developing a credit policy. Credit is temporary capital and …

Credit is an indispensable catalyst in financing the movement of commerce. Its roots go fairly deep in time and are definitely as old as the …

Receivable write of is permitted by tax law only for certain reason. You may not write off any receivable and deduct your tax liability unless …

Here are two great opportunities for accounting job seeker. Read the : position, responsibilities, requirements needed. It may suit your interest :). Prepare your application …

The right accounting software/system can be your best decision making over your business or invaluable to your business. But how do you determine what the …

To ensure that company’s outstanding receivables are current, company need to construct a certain timeline for receivables collection. While timeline is important, company should keep copies …

This topic is a supplement topic to emphasize specific issues: Accounting Treatment for Discount, Sales Return & Warranty. They may not exist or exist on …

Account Receivable classification has been discovered on the previous post, some issues are still remain to be discussed on this entry: how much a receivable …

An auditor’s working papers include the narrative description below of the cash receipts and billing portions of internal control of Rural Building Supplies, Inc. Rural …

Account Receivable is amounts owed to the company for services performed or products sold but not yet paid for. A receivable is accomplished by a …

Accounting Staff For Automobil’s Part Company. With wealth of experience and enhanced capabilities accumulated over 35 years and spanning 2 generations, our group of companies …

The most common situation in which a control point is needed for payroll is when an innocent error is made in the processing of a …

Company’s periodic income statement consists essentially of two components: revenue and expense. Revenue for the period is generally determined by applying the revenue recognition principle. …

Problem: 8. Which of the following would an auditor most likely use in determining the auditor’s preliminary judgment about materiality? a. The anticipated sample size …