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Trust - Ancient legal practice where one person (GRANTOR) transfers the legal title to an ASSET, known as principal or corpus, to another person (the TRUSTEE), with specific instructions about how the corpus is to be disposed and managed.
Inter Company balances One of the companies may appear as receivable (debtor) or payable (creditor) in the other company’s books. Just like in accounting four branches, such in
It is a managerial accounting cost method of expensing all costs related with producing a particular product. Absorption costing utilizes the total direct costs and overhead costs
Following the lines of the model by Ross (1977): I. Explain how firms may use their capital structure to generate a signal that conveys credible information about their future
How to Determine the financial reports of businesses In response to criticisms that financial reports of some businesses aren't clear enough to users, accounting rule makers ha
Example of outbound logistics in bank
McM Cog is a supplier of industrial parts. Most orders are received at a call center. The call center currently has 10 phone lines total, i.e., a maximum of 10 callers may be in t
Items reducing the deficit: Items reducing the deficit would include: (a) Profits from trading; (b) Estimated profit on the realisation of assets. Notes: (a) Whe
Question: You are a member of a large accounting firm which is responsible for preparing financial reports, including statements and notes to the accounts; and for advising sta
Q. Show the Audit Documentation? Audit Documentation -Written record of the basis for AUDITOR's conclusions which provides the support for auditor's representations, whether th
Dividends During the year, the company paid a dividend of Sh.2 per share on the ordinary share s outstanding and Sh.1 on the preference shares outstanding. The company is now pr
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