Category: Accountancy

International Accounting Standard 18 (IAS 18) addresses issues relating to revenue and the various instances whether or not revenue should be recognized. According to this standard, revenue can only be recognized to have accrued to an entity only if it meets a number of key conditions among them being: ..The company has transferred to the…

The development of the contemporary world proved that the personal success in modern life and the prosperity of the whole nation is possible applying new technologies and innovative conceptions. I fully agree with Pilat who notices, the recent slowdown has laid to rest several myths regarding the new economy: the business cycle is not dead,…

The paper tries to detail why it is a requirement for companies to adhere to the generally accepted accounting principles when following the rules of financial reports. Starbucks has been used in the paper as an example as they are a major company that adheres to the set standard all over the world. Reporting control…

Bookkeeping, Accounting, and Auditing Clerks These jobs are three of the most important in the company. Any company of whatever industry always fills these positions as soon as the company operations have started. It is revealed that these positions are offered in many different ways like temporary, contractual, or full-time. As for the nature of…

Table of Contents Introduction Sales with immediate delivery Sales with delayed deliveries Transaction without sale and delivery Introduction Big Beans has entered into their transactions of stated sales. These transactions involve the accounting recognition of sales revenue. The accounting treatments of these three transactions have been reviewed in this write up taking into consideration the…

Introduction As professional people increasingly under public scrutiny, accountants find themselves exposed to complex ethical issues. There are many ethical issues with which accountants struggle and points to ethical systems as tools that can be used to solve ethical dilemmas. By understanding the rational methods by which ethical issues may be examined, the professional accountant…

A fund is a separate part of monetary assets that has a specific purpose. This is a financial instrument that is widely used in economic practice. Besides, it is typically professionally managed in order to allocate resources in a proper way. Such funds are generally supported by taxes, grants, and other income sources (Chase, 2020).…

Introduction Current assets are assets which are most liquid in the organization the assets which can be used up or be sold in the business cycle. Current assets are those assets which cannot be held in the organization for more than one year and they form the basis of working capital of the business. Current…

Annotated bibliography Griffin, G. (2019). How artificial intelligence will impact accounting. ICAEW. Web. This reporting article from the respected publisher ICAEW extensively examines the issue of accounting automation and the consequences it will lead to. At the heart of the report is the recognition that Artificial Intelligence (AI) is spreading everywhere, and the field of…

Introduction Business management is a systematic process of four combined activities such formulating strategies, communicating these strategies throughout the organization, developing and carrying out tactics to implement the strategies and developing and implementing controls to monitor the success of the strategy in terms of achieving strategic objectives of the organization. To do these activities smoothly…