Classification of assets, liabilities, income and expenses
Brain Teaser: Number Puzzle
NUMBER PUZZLE How quick and easy is this puzzle for you? Using the numbers below, complete these six equations (3 reading across and 3 reading downwards). Every number is used only once. 1 2 3 4 5 6 7 8 9 x – … Read More
Your Happiness is Important
YOUR HAPPINESS IS IMPORTANT What makes you happy and what does happiness mean to you? Some people will believe that making people happy will lead you to being happy! Is that a myth? There has been a lot of challenges and deem issues that so many people would have been dealing with especially as … Read More
Movement of money in the cash book
Lets talk some more on the movement of money in the cash book? Dr – Receipts Cr – Payments When money is received the bank balance increases and when money is paid out, the bank balance reduces. J Simple hey!!! Lets see how you get on with this simple scenario: · Where there is an … Read More
Bad/Irrecoverable debt
BAD/ IRRECOVERBLE DEBT Bad debt is an amount owed to a business which may not likely be paid by the debtor, having exhausted all possible means of chasing for the payment. Hence, such amounts need to be written off the books of accounts and should not continue to be presented within the debtors amounts as … Read More
What does an Accountant say when boarding a train?
What does an Accountant say when boarding a train? Mind the GAAP!!! GAAP is Generally Accepted Accounting Principles which are the rules and standards set within each country that govern how company accounts are to be prepared. In studying accounts, you need to learn this and be aware of these!!!
Michael Jordan and Absorption Costing
Michael Jordan, former American professional basketball player is deemed to be the greatest basketball player of all time as declared on the official NBA website. Jordan joined the Bulls in 1984 as the third overall draft pick, and quickly emerged as a league star, entertaining crowds with his prolific scoring while gaining a reputation … Read More
Cambridge University Research
THE CAMBRIDGE UNIVERSITY RESEARCH Let’s see The Cambridge University Research again!!! According to a research at Cambrigde University, it deosn’t matter in what order the letetrs in a word are, the only important thnig is taht the fisrt and lsat leters be at the rgth palce. The rset can be a totol mses and you can still raed it withuot porblem. This is bcuseae the human mind deos not … Read More