How to Determine Revenue – Financial Reporting Standard 18
The majority of company owners assume that the actual payment amount banked in is profits…
Financial Reporting Standard 16: Property, Plant and Equipment
The key in the accounting for property, plant and equipment is to identify the assets, recognise…
Financial Reporting Standard 12: Income Taxes
When it comes to accounting, the main goal of the FRS 12 is to give guidelines on handling…
Financial Reporting Standard 11: Construction Contracts
The FRS 11 prescribes the accounting procedures of revenue and costs along with construction…
Financial Reporting Standard 10: Events after the Reporting Period
The FRS 10 prescribes the procedure of carrying out the adjustments and required disclosures and…
Financial Reporting Standard 8: Accounting Policies, Changes in Accounting Estimates and Errors
The FRS 8 prescribes the requirements for choosing and altering accounting policies and gives…
Financial Reporting Standard 7: Statement of Cash Flow
The main goal of FRS 7 is to ensure that the information about historical changes in cash flow of…
Financial Reporting Standard 1: Presentation of the Financial Statements
The FRS 1 sets the general requirements for financial statements. It specifies the structure…
Financial Reporting Standards 2: Inventories
Do you know that there are set standards that regulate inventory accounting activities? When…
5 accounting tips for small businesses
Accounting is important for every business, whether big or small. However, it is more important…