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Financial Accounting Concepts
What are the benefits of self-balancing systems?
Effective book-keeping is vital for companies to ensure accuracy and avoid discrepancies in their accounts. A self-balancing system is a sophisticated method of
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IFRS
What Are the Differences between IFRS and GAAP?
Financial reporting standards are important to provide transparency, consistency, and comparability of financial statements among businesses. International Fina
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Cost Accounting
What is a Cost Audit? – Meaning and Definition
A cost audit is designed to uncover and correct or prevent errors in the accounting of materials and services to customers. It is an ongoing process of checking
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Cost Accounting
A Short Note on the LIFO Method of Inventory Valuation
The LIFO method, or last-in, first-out, is one of the most popular and widely used inventory valuation methods in cost accounting. Under this approach, the cost
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Financial Management
Treasury Bills and Commercial Paper Explained
Treasury bills, or T-bills, are short-term financial securities issued by both the federal and provincial governments having maturities of up to one year. Treas
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Corporate Accounting
The importance of gearing ratios in financial analysis
Financial gearing ratios are financial metrics that compare a firm’s debt to other financial metrics such as company equity and assets. The primary purpos
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Corporate Accounting
Differences Between Rights and Bonus Issues of Shares
When firms are attempting to raise new capital or distribute earnings to current shareholders, they issue extra shares in rights issues or bonus issues. In spit
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Financial Accounting Concepts
What is the Importance of Trading Account in Final Accounts
The Trading Account forms one of the critically important components of a company’s final accounts as it will determine gross profit or loss from its core
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Financial Accounting Concepts
What are Coverage Ratios – Meaning and Calculation
A coverage ratio is a common metric used in financial analysis that determines how much of a company’s assets are covered by its liabilities. This ratio c
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Corporate Accounting
What are Different Types of Financial Statements?
Financial statements provide essential tools for understanding an entity’s health and performance from various angles, whether you are an investor, credit