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Adjusting and non-adjusting events
Posted by Bunmi Mercy 3 years agoTechnical QueriesIn line with International Accounting Standard (IAS) 10- Events after reporting date an entity should adjust its Financial statements for events that occurred after its reporting date. This means ...
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COMMON PITFALLS IN IAS 21
Posted by Bunmi Mercy 3 years agoTechnical QueriesWhat if there is an accounting principle that allows men to account for how much they have spent on ladies as investment? I know a lot of folks who would boast of massive foreign investments LOL! Thi ...
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Tailor-fit applications in the finance industry
Posted by Bunmi Mercy 3 years agoTechnical QueriesIt is no longer new that job candidates are expected to align their applications to jobs they want to apply for. They are expected to create a tailor fit application to that particular role they want ...
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Why you should invest in derivatives- What You Need to Know about Derivatives
Posted by Ebunlomo 3 years agoTechnical QueriesThe year 2020 has led to an increase in investment and savings habit and there exists a lot of information explosion on the internet. This article talks about an investment product not popular in Nige ...
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AUDIT MISCONCEPTIONS
Posted by Bunmi Mercy 3 years agoTechnical QueriesAudit is an official examination of the accounts of an entity by an Auditor. The audit profession is often associated with some widely held but false beliefs. Some of the audit myths are: 1. Audits ...
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SELF CHARGE VAT RULE
Posted by TY 3 years agoTechnical QueriesThe finance act requires that if you are not charged VAT because the supplier is a small company you are to self-charge VAT on the supply/transaction and remit same to FIRS. Please has anyone starte ...
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The New Commencement rule....!!
Posted by Joseph 3 years agoTechnical QueriesHello everyone...The Finance act recently abolished the old commencement rule. But I recently encountered an organization that wrongly computed Tax computations based on the old commencement rule. The ...
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Expense reimbursement paid for by members
Posted by Thetechyaccountant Admin 4 years agoTechnical QueriesWe are a small nonprofit and sometimes members will pay for approved expenses then give us the receipts for reimbursement. We use QBO and I was wondering what might be a better way of recording these ...
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Manual journal signature in the system
Posted by Thetechyaccountant Admin 4 years agoTechnical Queriesare now working on the improvement for Manual Journal Voucher process in the system (AX) for international company.Unfortunately it seems that journals will be posted in the system without user ID (th ...
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