Overall Assets Liabilities overall. Test on Debit and Credit in Accounting. Possessions and Debts Owner Equity in Capital. 10000 assets, 5000 liabilities, and 5000 in equity. The Accounting Equation will be in equilibrium because the Assets and other elements of the equation will be the same as they were prior to the transaction. Equation for […]

Examples to Help You Understand IAS 12 Income Taxes. Capital allowances will make it possible to deduct CU10000 from taxable profit during the asset’s lifetime. Current tax expense income and any changes to taxes from earlier periods 61 19. Cash and cash equivalents. Tax illustrative examples for IAS 12. Excel examples for IAS 12. Ias […]

Accounts Receivable Confirmation Letter of Audit On November 14, 2015, Sara Mathur posted Submit a comment There are a large number of accounts receivable at the end of the fiscal year, therefore auditors send audit confirmation letters to parties with unpaid balances as they go through each account to ensure that the numbers match. Negative […]