RSSCategory: Study Articles

ACCA Paper P3 E-book £3

| September 22, 2010 | 0 Comments

ACCA Paper P3 : Business Analysis : Practice Questions and Answers E-book now available to buy from Accountancy publishers www.TonySurridge.co.uk at a cost of just £3 Global accounting publishers, Tony Surridge Online, have just launched their latest addition to their ACCA Professional series.  As part of their “+AddVance” study range, Tony Surridge’s ACCA P3 Practice […]

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Leasing

| September 3, 2010 | 0 Comments

On 17 August 2010, the International Accounting Standards Board (IASB) issued an Exposure Draft (ED) to improve the accounting for leases.  The IASB and the US Financial Accounting Standards Board (FASB) have been in collaboration to overhaul the current standards and no doubt the UK will follow suit. Existing requirements Under the current IFRS regime, […]

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The Concept of Going Concern

| July 19, 2010 | 0 Comments

The concept of going concern has been in the profession's headlines recently due to the current economic climate and it seems to be an area where practitioners and clients alike encounter difficulty in applying the concept. The going concern concept The concept of going concern is a fundamental accounting principle and financial statements are prepared […]

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Fair Value Measurement of Financial Liabilities

| June 29, 2010 | 0 Comments

On 11 May 2010, the International Accounting Standards Board (IASB) published for comment their proposed changes to the way financial liabilities are to be accounted for.  These changes were as a result of investor feedback and the IASBs work on financial assets and their issuance of IFRS 9: Financial Instruments which was issued in November […]

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Audit and Accounting Update

| June 23, 2010 | 0 Comments

Steve takes a look at the latest auditing, accounting and companies act. Auditing The International Auditing and Assurance Standards Board (IAASB) completed their 'Clarity Project' on 27 February 2009 which was undertaken to improve the understandability of the International Standards on Auditing (ISAs). The final set of Clarified standards comprise 35 ISAs and one International […]

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Accounting for Intangible Assets

| June 23, 2010 | 0 Comments

Steve Collings looks at the fundamental principles in accounting for goodwill and intangible assets and also looks at some fundamental differences between current UK GAAP, IFRS and the proposed IFRS for SMEs. As accountants we are all aware that an intangible asset does not have any physical form and accounting for such assets has always […]

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The Clarified Auditing Standards

| June 23, 2010 | 0 Comments

Steve Collings presents a summary of the main changes to come out of the audit clarity project. In 2004, the International Auditing and Assurance Standards Board (IAASB) undertook a programme to enhance the clarity of its ISAs. The IAASB said that the overall aim of its clarity project was to make the ISAs more easily […]

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Financial Due Diligence

| April 23, 2010 | 0 Comments

Students of auditing papers will often come across the concept of 'financial due diligence' and may be asked to compare and contrast due diligence with that of statutory audit. This article looks at the basics of due diligence and discusses how it differs from statutory audit. Due Diligence Due diligence is the investigation of the […]

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Success at DFS

| April 22, 2010 | 0 Comments

Students of AAT Unit 11 'Drafting Financial Statements' face a challenging paper in June 2010.  Not only is the syllabus vast with a significant amount of demands placed on students, but there is so much to remember in a relatively short space of time. This article aims to guide students onto the 'straight and narrow' […]

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Activity Based Costing (ABC)

| April 22, 2010 | 0 Comments

Organisations best suited for the use of Activity Based Costing (ABC) In this article, Muhammad Assad Niazi takes a look at the organisations which may benefit from Activity Based Costing (ABC).  It is relevant to ACCA papers F5 and P5. Organisations which are best suited to use Activity Based Costing (ABC) are those which usually […]

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