Hasaan Fazal
What is Audit around the computer?
Audit around the computer means that processing done by the computer system needs not to be audited as auditor expects that sufficient appropriate audit evidence can be obtained by reconciling inputs with outputs. In simple words evidence is drawn and conclusions are reached without considering how inputs are being processed to provide outputs. Sometimes it […]
How to make a basic Tax calculator in Excel
Business and Taxation go hand in hand. However, taxation calculations are most of the time tedious and if you need to make a small change you might have to punch millions of calculator keys again to get the tax liability calculated. But we have a rescue pack for you in the name of Excel! Many […]
Calculating number of days between two dates - Excel Function Vs Common Sense
Business and every aspect of our life is about time and we have to compute days most often. To handle this Excel does provide a solution for in shape of a dedicated formula DAYS360(). And if you are an accountant you might have sprung half way and suspended there. Although accountants may accept 360 days […]
Replace a formula with the value or final result - Super Easily
Formula and Excel is a bond not meant to break. Although formula do help us get the values we want. But often you find that it will be code that you just get have the result itself what the formula computes. That means you want to hard code the cell with the result and replace […]
Using SUMIF with Dates in Excel
I was in the middle of making an accounting project where I had to use SUMIF. This wonderful function that everyone must know especially accountants. In many instances SUMIF can be used as an alternative to VLOOKUP function and it is much easier to use as well. However, using this formula with dates is a […]
What is meant by CAATs?
CAATs short for Computer Assisted Auditing Techniques simply means that assistance of computers is taken by the auditor while carrying out audit engagement. Some students misinterpret the term as if computers will carry out audit engagement as a virtual assistant to the auditor which is not the case as yet. Explanation As we have witnessed […]
How to change currency format in Excel? How to have Pakistani Rupees (Rs) currency sign in excel?
In almost every office of the world when it comes to money accountants come to excel. Although excel can handle money matters but when it comes to currency by default we have Dollar ($) as currency and not every country have this currency nor have the same currency sign. Accountants who are new often struggle […]
What is age, aged, ageing or aging analysis?
Age analysis is simply a time-based analysis with reference to due date to determine either how much time is left until due date or how much time has passed since due date. Most of the time age or aged or ageing analysis refers to the second type of analysis i.e. how much time has passed […]
Preparing ACCA Exams - Quick Guide and FAQs
A lot of students are asking me loads of different questions of different nature while preparing for ACCA exams including what subject to take what to leave, how to plan study and exam attempt, which questions to do first in the exam, what topics are important, what to read and what to leave etc. Following […]
What is work in process or work in progress inventory?
Work in process inventory is such asset that is still in the process of completion and not yet ready to be categorised as finished goods.In a manufacturing concern raw materials are converted to finished goods by applying labour and overheads (thus the main reason why labour and overheads cost collectively called conversion cost). However, it […]