What is the difference between a Fair presentation framework and a Compliance framework?
Financial statements are prepared to fulfill information needs of its users. In order to cater the needs at best a certain financial reporting framework is used considering the jurisdiction in which the entity and/or its users exist. For example two of the popular financial reporting framework are IFRSs and US GAAPs. However, talking about the […]
One minute Excel Tutorial - Excel ‘Auto’ features
Often in data related works we have to repeat the process over and over again like writing same name. That will be so easy and error free if what we intend to write is automatically inserted for us. Or if there is a mistake then it gets corrected automatically. Who don’t like if things start […]
One minute Excel Tutorial - Tables
Yes Excel cells and coloumns and rows and you can apply colors and borders but problem with that formatting such way is kind of static i.e. if your data expands or contracts it does not adjusts itself accordingly. Solution to this is Tables. Having your data range formatted in tables your data automatically gets several features embedded […]
One minute Excel Tutorial - Text to Coloumn
How to do it Well that is not the only thing it does. Its powers go beyond just splitting data in different coloumns. It can literally convert text to numbers in coloumn as well. But well that is left for future tutorial The application of this feature is however limited to delimiter or width etc. […]
Is Drawings an expense account or a liability account?
In order to understand the nature of drawings account in accounting and why is it deducted from capital or equity total the better is that we look at the definitions of expense, liability and possibly the drawings as well. Expense can simply be defined as outflow of resources of entity in order to earn revenue […]
What is the difference between financial report and financial statement?
Financial report means any report about monitory matters. In other words a financial report is about the transactions that have financial effects. To run a business financial reports play important role as relevant financial information is transmitted to relevant users inside and outside the entity to help them in making decisions. For example; bank statement, […]
TOP 20 QnAs of the month - October 2011
Every month end we release a collection of 20 most read questions of the month, which are read by thousands of visitors and loved them, so that you don’t miss the best! Scroll down to see the top 20 questions which were asked using FREE i-ask! or ASK TUTOR service and topped our collection of […]
TOP 20 QnAs of the month - May 2011
i-ask! | Have a question? Ask Tutor! So we approached the end of May 2011 with many exciting and good questions answered. We are thankful to students and visitors who asked nice and thought provoking questions which are sure will be of great help to other students as well. Here are the TOP 20 QnAs […]
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10 Most Popular Questions of the week [March 15, 2011]
Another exciting week ended with lots of interesting questions answered. But every week we list down the top 10 questions which our dear visitors liked very much. So here is the list of top ten favourite questions answered for the week ended March 15, 2011 Which auditing standards are part of ACCA F8 syllabus in […]
CAT T1 section NOW OPEN!
CAT T1 section is now open to members with free CAT T1 practice and study material. You can access CAT T1 section from navigation bar above by hovering your cursor over CAT button. We are planning to load this page different resources that students demand. We are planning to put up resources like video lectures, […]
