Below is the format or presentation of the Direct method of cash flow statement. If the direct method is used, then the entity needs to disclose in the notes a statement reconciling the cash flows from operations to the net profit from the income statement for the period. { Click here to go to Content … Read more
Earlier article describes what is the statement of changes in equity and how it related to FRS 101. Below is the format of statement of changes in equity which discloses: The opening components of equity, and the increases and decreases for the year of each component. During the current year, there was an issue of … Read more
FRS 101 & Statement of changes in equity In FRS 101 a complete set of financial statement should include the statement of changes in equity. In basic accounting, we understand that equity comprises shares and reserves. Hence, this statement of changes in equity reflects ALL CHANGES IN SHARE CAPITAL AND RESERVES to be disclosed in … Read more
Earlier article showed the format of a manufacturing account. Another article showed the format of the trading and income statement which accomodates the cost of goods manufactured by the same entity. Unlike the above, below is a snapshot of an entity’s trading and income statement where an entity is buying all its goods for resale … Read more
For those who intend to do accounting studies whether professional or degree, one of the accounting college located in Central London, London College of Accountancy has been named as PQ Magazine’s College of the Year for 2009. This award was presented by one of the UK’s leading specialist publication for accountancy professionals which underlines the … Read more
In earlier articles, we have described the importance of having important skill-sets for Chartered Accountant/ CPA to thrive in this high competitively borderless world. Recently, CPA Australia has launched a new Career Guidance System – an online self-assessment tool that allows professionals and employees to understand their current competencies, and identify areas for development. The … Read more
Business Week has ranked the accounting specialty at the Sam M. Walton College of Business at the University of Arkansas in a tie for 19th place among the top public undergraduate business schools. Its accounting specialty ranked 35th place among both private and public. Incidentally, the top six public and private business school accounting specialties … Read more
Earlier article shows a simple format for a manufacturing account or statement. Next a snapshot of the format of an entity’s trading and income statement with assumption that all its goods for resales are manufactured within the entity. { Click here to go to Content Page on All other articles on commonly used ACCOUNTING REPORTS FORMAT } … Read more
Extracted two articles from http://www.icaew.com/ which might interest readers who would like to pursue professional accounting course to become chartered accountant. The ICAEW’s articles explain what is chartered accountancy and the skills that need to be acquired and personal attributes. Read on…. ” Chartered accountancy involves giving professional advice to organisations on a wide range of … Read more
Refer article on advantages and disadvantage of using the multiple step income statement { Click here to go to Content Page on All other articles on commonly used ACCOUNTING REPORTS FORMAT }