Accounts payable arise from owing outsiders a certain amount of money. Creditors are called "AP." It was due to the...
Financial statements
Deferred tax arises as a result of a taxable temporary difference between accounting profit and taxable profit. It is a...
The balance sheet or the statement of financial position can be prepared using the accounting equation. I have discussed these...
In financial statement consolidation, it is a requirement of accounting standards that the holding company must state the amount of...
Controlling interest arises as a result of the need for certain individuals or groups of people to have power and...
Foreign currency translation reserves are a type of capital reserve. It arises when a business has foreign offices. This office...
When errors are made in accounting, those mistakes may not be found until after the profit or loss statement is...
Regulatory risk reserve is kept by money deposit banks (MDBs). It is a mandatory reserve that arises from applying IFRS...
Reserves are set aside to meet certain contingencies. It is used to pay dividends, sponsor a project or prepare for...
In a financial statement, companies usually set aside some money from profit or other sources to finance important business activities....
