Loans and advances are one of the core businesses of banks in any country. And are reported in the statement...
Financial statements
Restricted cash is part of a company's cash and cash equivalents. However, it has a separate purpose from other money...
In the conceptual framework of financial reporting published by IASB, one primary aspect is the objectives of general purpose financial...
The accounts receivable contains all names of individuals that owe the business at a given point in time. And the...
Cash and cash equivalents are the terms used to represent cash in hand, cash at the bank, and other near-cash...
Trade receivables are the new name for debtors. This is in respect to the International Financial Reporting Standards. To this...
Trade payable is also called creditors. The name change is a result of convergence from local accounting standards to international...
Contingent liability arises when there is a present obligation that is probable. If there is no probability or likelihood that...
Accounts payable arise from owing outsiders a certain amount of money. Creditors are called "AP." It was due to the...
Deferred tax arises as a result of a taxable temporary difference between accounting profit and taxable profit. It is a...