Accountants need to develop the knowledge and skills of amending Final Accounts such as Profit and Loss Account (P&L Account) and Balance Sheet.
Posts tagged as “Fixed Assets”
There is a number of different methods accountants can use to calculate depreciation of Fixed Assets in Balance Sheet. Straight-Line Method. Reducing Balance Method.
Depreciation is a decrease in the value of Fixed Assets. Some assets such as Equipment (machinery) and Vehicles tend to fall in value over time.
Intellectual Property is human capital, know-how and industry knowledge. It is somewhat expressed on Balance Sheet in the form of Intangible Assets.
Hire purchase occurs when an asset is sold to the buyer who agrees to pay fixed payments over an agreed period of time. How does hire purchase work?
After the start-up capital has been generated, money that is used in a business is categorized as Revenue Expenditure and Capital Expenditure.
After the start-up capital has been generated, money that is used in a business is categorized as Revenue Expenditure and Capital Expenditure.
Inflation makes planning difficult and results become much less reliable. It is because inflation adds to uncertainty about forecasting the future.