global enviornmental issues

Environment issues are the most discussed topic in this decade. There is many topic on “environment issues” .Among them environmental pollution is one of the important issue of all.  By the word “environmental pollution” we mention that the pollution that occurs by the nature. Though it is occurs by the environment but the main culprit is misuse of science by human. It seems like that men are pushing environment to its limit.  In the Environment issue, the negative impact on our ecosystem should also be discussed. Air, water, soil,...

Read More

Components of Annual report

The chairman's report and the chief executive officer's report These reports are often ignored as vital sources of information, yet provide important indicators of opportunities, problems and the intentions of management for the following year. The auditors' report The auditors' report is a summary of the findings of an independent company of accountants (auditors). The auditors perform procedures to obtain evidence regarding the figures and disclosures in the reports; and carry out tests on the internal controls to ensure that transactions...

Read More

Basic elements of accounting

The basics of accounting involve three fundamental elements; assets, liabilities and equity. These elements make up the basis for financial reports such as balance sheets, ledgers, and other means accountants use to maintain financial records for businesses, corporations and individuals. In accounting, it is vital that the equity that makes up the assets and the liabilities all balance mathematically. Assets : An asset is a resource that a corporation, organization, or person owns and utilizes to maintain the functionality and operation of a...

Read More

Classification of Asset

In a balance sheet the assets are classified as current assets, investments, property plant and equipment, intangible assets, and others. Current Assets: Current assets are the one that is expected to convert to cash within the current operating time period of the company. These include cash, temporary investments, and accounts receivable, inventory, receivables etc. Investments: Long term investments that are not going to be sold in near future are considered as an investment. These include investments in bonds, stocks, land that is...

Read More

characteristics of Asset

Other than software companies and the like - employees are not considered as assets, like machinery is, even though they are capable of producing value. • The probable present benefit involves a capacity, singly or in combination with other assets, in the case of profit oriented enterprises, to contribute directly or indirectly to future net cash flows, and, in the case of not-for-profit organizations, to provide services; • The entity can control access to the benefit;  • The transaction or event giving rise to the entity's right to,...

Read More

Characteristics of Accounting Information

There are many vital characteristics of Accounting Information that are given bellow:- • Unaderstandabilty: An essential quality of the information provided in financial statements is that it is readily understandable by users. For this purpose, users are assumed to have a reasonable knowledge of business and economic activities and accounting and a willingness to study the information with reasonable diligence  • Relevance:To be useful, information must be relevant to the decision-making needs of users.Information has the quality of...

Read More

Defination of Accounting

...

Read More