Category Archives: Bookkeeping

The Sarbanes-Oxley Act of 2002 (SOX) added new audit responsibilities relating to fraud. External auditors now have to certify that a client’s internal controls are adequate in addition to expressing an opinion on the financial statements. Omega Fashion Inc. had … Continue reading →

In addition, even if there has been a previous agreement, unauthorized overdrafts may occur if the account holder has gone past the agreed-upon overdraft amount. Investors monitor loan growth to determine whether a bank is increasing its loans and using … Continue reading →

Thus, if a vehicle worth Rs. 2,00,000 is being leased, and the expected depreciation is 20% over a 1-year lease term, the vehicle’s residual value will be Rs. 1,60,000. Rs. 40,000 (the depreciation amount) plus rent, fees and taxes will … Continue reading →

A good user experience improves the supplier’s perception of the organization and makes that supplier want to develop a long-term relationship, rather than ending it. Tension with suppliers impacts the supply chain, slows down production, https://simple-accounting.org/ and can harm an … Continue reading →

Principles of Accounting Volume 1 is mostly an outline of accounting rules that have been around for a long time; won’t change; and will be relevant for the foreseeable future. There are some changes (e.g. analytics) that changing the way … Continue reading →