By Emile Woolf International

Show description

Read or Download ACCA F3 (INT) Financial Accounting Study Text PDF

Best accounting books

Wiley GAAP: Practical Implementation Guide and Workbook

Wiley GAAP Workbook presents easy-to-understand assistance and readability to functional functions of GAAP. improving your comprehension of GAAP to let useful program of quite a few events that you could be stumble upon in perform, this workbook and advisor simplifies software of GAAP criteria and interpretations to express real-world events.

Efficient Methods for Valuing Interest Rate Derivatives

Effective tools for Valuing rate of interest Derivatives presents an summary of the versions that may be used for valuing and coping with rate of interest derivatives. break up into components, the 1st discusses and compares the normal versions, equivalent to spot- and forward-rate types, whereas the second one concentrates at the extra lately built marketplace types.

Tax Strategies for the Small Business Owner: Reduce Your Taxes and Fatten Your Profits

Tax ideas for the Small company proprietor: lessen Your Taxes and Fatten Your gains may help the small enterprise proprietor raise earnings whereas feeling more well-off facing taxes. It starts off by means of the customarily ignored severe determination small company proprietors face once they begin a company: the alternative of industrial entity.

Additional info for ACCA F3 (INT) Financial Accounting Study Text

Example text

Deferred income. Deferred income is revenue that an entity receives in advance, that relates to goods or services that will be provided in a future accounting period. Revenue should not be ‘recognised’ until the goods or services have been delivered. For example, a deposit of $800 received from a customer for goods that have not yet been delivered should not be recognised in revenue until the goods are eventually delivered. Exercise 1 A company prepares its financial statements to 31 December each year.

1 Accounting regulation and international accounting standards Financial reporting is regulated and controlled. Regulations should help to ensure that information reported in financial statements has the required qualities and content. Countries have their own national laws and regulations about financial accounting. In addition, the accountancy profession has developed a large number of regulations and codes of practice that professional accountants are required to use when preparing financial statements.

Com for Q/As, Notes & Study Guides © EWP Chapter 2: Qualitative characteristics of financial information and the fundamental bases of accounting A statement of financial position presents the assets of the business entity and also its equity and liabilities. Equity represents the amount he entity ‘owes’ to its owners and liabilities are the amounts it owes to others. The total assets that the entity ‘owns’ are equal to the total amount of equity plus liabilities that it ‘owes’. 2 The money measurement concept The money measurement concept in financial reporting is that an item should not be ‘recognised’ and included in the financial statements unless it has a money value that can be measured reliably and objectively.

Download PDF sample

Rated 4.93 of 5 – based on 15 votes