Trending accounting policy Discussions

How can we define accounting policy for fixed asset depreciation: full depreciation in the month purchase and no depreciation in the month of disposal?‎

What will be the Accounting procedure/entry if your assets increases? e.g. in a dairy business if a cow give birth to baby. ‎

Which one of the following not necessarily a sing for a company financial difficulties?‎

A. Switching External Auditor B. High Current or Quick Ratio C. Insider or Institutional share sales D. Deep perk cut and high dividend yield E. None of the a‎ ... See More

Adjusting entry is necessary because timing differences exists between when a revenue or expense is recognized and cash is paid or received. T or F? ‎

Some companies seems to refer gross income to gross sales and net income to gross profit. please share your views.‎

In government departments ,what is the biggest obstacle you encounter and how can you overcome this problem? ‎

 

Answer added by  Zohair Haiderally, Vice President, Copal Amba (Moody's Analytics Company)
8 years ago

This needs to be accounted under IAS - Biological assets given the company may be harvesting cows for milk production.   Cows need to be fair valued at each accounting pe ... See More

 

Answer added by  Muhammad Kamran Bukhari, Senior Manager Finance, OIC Ministerial Standing Committee on Scientific and Technological Cooperation(COMSTECH)
11 years ago

In Government's there is many obstacle  i.e.,  lack of innovation, establishing and operating of internal auditing function, Incentives and rewards is not available, ... See More

 

Answer added by  Ahmed kandil, Cost Controller , Battour Holding Cpompany
9 years ago

TRUE IS THE CORRECT ANSWER 

 

Answer added by  Anas Dawah, Senior Internal Auditor, Talal Abu-Ghazaleh Global (TAGI)
9 years ago

A-------------------------------- True