Archive about 'Stock Write Off and Provision'
Answer To Question On Cash Versus Accrual Accounting
Earlier topic on accruals concept and profit versus cash concept refers.
Basically, a majority of small businesses use the cash method of accounting since it is simple to understand.
The business records the earnings only when the cash is received and records all its expenses when the check or cash is issued. [ Payments are considered [...]
Basic Understanding Of Islamic Accounting, Its Objectives and The Differences Between Convention Accounting
Below is a snapshot of the definition, similarity and differences between Islamic Accounting and Conventional Accounting.
Definition Of Islamic Accounting
the “accounting process” which provides appropriate information (not necessarily limited to financial data) to stakeholders of an entity which will enable them to ensure that the entity is continuously operating within the bounds of the Islamic Shari’ah [...]
Sending Free Greeting Cards
Greeting cards are important social networking tools!!
Send the below lovely greeting cards to your loved one, your contacts, your teachers, your friends, relatives on all different types of occasions. Build your social networking both for your friendship and careers. There is no cost at all !
Anniversary
At Work
Birthday
Cute
Daily Celebration
Events & Holidays
Everyday_
Family
Flowers [...]
Basics-International Business
Globalization is a theme in International Business for many local organization who wish to expand overseas whether regionwise or worldwide.
Below explains what is International business, its purposes and some of the major challenges:
International Business:
Defined as a transaction across international borders, where business is conducted between countries.
Purposes of International Business:
Firms and governments conduct international business in [...]
Dictionary Of Auditing Terms-Alphabet C
Append below is a table of glossary in alphabetically sequence.
A B C D E F G H I J K L M N O P [...]
Audit Evidence: Using Compliance Procedures For Audit Work
Append below are some notes pertaining to understand what are Compliance Procedures:-
Compliance Procedure In Obtaining Audit Evidence
· Compliance Procedures are tests designed to obtain reasonable assurance that those internal controls on which audit reliance is to be placed are in effect
· The auditor needs to ensure that internal control exist and that the internal control [...]
Delegation And Its Process
Delegation is a process of devolution of authority or simply the dispersal of authority for decision making from superior to subordinates.
It is common to see that the more decentralized an organization, the more you can see the process of delegation. Effective delegation can improve the behavioral aspects:-freedom to make decision, to make mistakes and make [...]
Internal Company Reconstruction-Accounting Entries For Capital Reduction Where Capital Is Not Represented by Available Assets
Accounting Entries Used In Capital Reduction Where Capital Is Not Represented By Available Assets
(1) Being Amount Written Off From Share Capital Account
Debit
Credit
Share Capital Account
XXX
Capital Reduction Account
XXX
(2) Being Reserves Utilized For Capital Reduction Scheme
Debit
Credit
Reserve [...]
Internal Company Reconstruction-Capital Reduction Where Capital Is Not Represented by Available Assets
Situations In Capital Reduction Where Capital Is Not Represented by Available Assets:-
large amount of accumulated losses and or
some of the assets are overvalued/overstated
some of the assets are fictitious
Illustration:
Balance Sheet Of XYZ Ltd
$
Total Assets
500,000
Less:Current liabilities
(450,000)
Net Assets
50,000
Ordinary Share of $1 each
600,000
Accumulated Losses
(550,000)
Equity/Shareholder Funds
50,000
The above illustrates that XYZ Ltd has unwisely eroded its paid up share capital from [...]
Internal Company Reconstruction-Capital Reduction By Refunding Surplus Capital To Shareholders (Part B)
Internal Company Reconstruction-Capital Reduction
As described, basically there are three situations
refunds any surplus capital
cancel paid up capital not represented by assets
reduces/write off uncalled capital on any of the shares
Accounting For Company Reconstruction- REFUND OF SURPLUS CAPITAL
In this case, it is merely a cash outflow where money are return to the shareholders.
Company A has 100,000 shares [...]
November 20, 2008
November 19, 2008
- List Of Topics Under The Heading Cost Of Capital
- List Of Topics Under The Heading Stock/Inventory Management/Control
November 18, 2008
- List Of Topics Under The Heading Standard Costing & Variance Analysis
- List Of Topics Under The Heading Short Term Decision Making
- List Of Topics Under The Heading Pricing Decisions/Methodlogies
- List Of Topics Under The Heading Cost-Volume-Profit/CVP Analysis
- List Of Topics Under The Heading:Budget And Budgetary Control


