Assets are a very important part of a business and it’s vital that they are reported correctly on the statement of financial position; that is that they are recognised only when they should be and the amount attributed to them is a faithful reflection of their value. I want to help you understand why we account for various assets in the way that we do and what better place to start than with the definition of an asset as per the IASB’s Conceptual Framework.
Sarah Ardiles and Tom Clendon (ACCA SBR online tutor) have a head to head on a subject that often causes confusion among students.
Sarah Ardiles and Tom Clendon continue their discussion of profit versus cash flow. Last month they explored the usefulness of cash flow reporting. Now they turn their attention to profit.
Sarah Ardiles and Tom Clendon discuss the much-debated topic of what’s more useful, profit or cash flow. In this, the first of a two-part series, they investigate the benefits of cash flow.
Sarah Ardiles and Tom Clendon discuss the thorny issue as to whether it is more useful for assets to be measured at cost or value? Tom sets the scene The…