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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? 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, 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
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
DEPRECIATION Depreciation is an estimate in amount for the wear and tear of a non-current asset used in a business for its day-to-day operations. It is a part of the original cost of such asset that is consumed during its period of use by the business and it is represented in the statement of profit … Read More
What do Accountants suffer from that ordinary people don’t? Depreciation!!! Depreciation is the wear and tear of assets which is learnt in the course of studies and this applies to non-current assets.