Return on Net Operating Assets Operating assets are all the physical and financial resources that a business owns or has access to, which help it generate income. Operating assets can include both fixed and current assets. Fixed assets, such as buildings and equipment, are intended for long-term productivity, whereas current assets are more liquid and … Read more
Audited Vs Unaudited Income Statement Financial statements provide essential information regarding a company’s assets, liabilities, revenues, expenses, and shareholders’ equity, thus providing insight into the financial performance and business activities of an organization. The four main financial statements are: The balance sheet: This statement shows a company’s assets and liabilities at a specific point in … Read more
What Is The Difference Between An Audit And An Attestation? When it comes to the financial services sector, two of the most important terms you will come across are ‘audit’ and ‘attestation’. They have become so common that they are now used almost interchangeably, but there are actually some important differences between them. In this … Read more
What Is Technical Auditing? Technical auditing is a critical part of any business. It involves assessing an organization’s technical systems and processes to ensure they are up to date, secure, and compliant with industry regulations. However, there is often confusion around what actually constitutes a technical audit and how it differs from other types of … Read more
Acceptable Depreciation Methods under IFRS Depreciation expense is an accounting term that refers to the allocation of the cost of a long-term asset over its useful life. depreciation expense is used to record the wear and tear, or obsolescence, of a long-term asset. For example, if a company buys a new factory for $1 million, … Read more
A Decrease in Accounts Payable What is an account payable and what does it include? Accounts payable is the amount of money a company owes to its suppliers for goods and services that have been purchased on credit. Accounts payable is considered a short-term liability, as the debt is typically due within one year. Accounts … Read more
True Up In Accounting With the development of accounting, it has become increasingly difficult for companies to gain a comprehensive overview. The ultimate goal is to ensure that all stakeholders have access to reliable information on financial documents. Accounting professionals must work towards improving users’ experiences by providing accurate insight – both internally and externally … Read more
What Is Variable Overhead Rate Variance? The difference between the budgeted and actual rates of spending for variable overhead is called a variance. This variance is the variable overhead rate variance. As an accountant, you need to be aware of the changing costs that can affect your bottom line. The difference between what you budgeted … Read more
How to Calculate Modified Internal Rate of Return This article will cover how to calculate the modified internal rate of return (MIRR). This includes key definitions, formulas as well as and example calculations that can help you understand this process better. IRR is an important technique in project evaluation. All cash flows arising from a … Read more
Is Accounting harder than Nursing? Accounting vs Nursing Accounting and nursing are two professions that require very different skill sets and educational requirements. Both careers have different job outlooks, time commitments, and work environments. This article will explore the differences between accounting and nursing, and discuss which one is harder. It will evaluate the educational … Read more