Government grants and assistance
Government assistance is something that certain industries come by at least once a year, i.e. agriculture for instance, and in certain industries much more rarely and even so if certain events (more…)
Purchasing
Purchasing is an important process within an entity’s business. Effectively you’re purchasing everything you need – your supplies, your services, your employees’ time and so on. When we talk about purchasing, we’re talking about things you’re buying for your company for your business. (more…)
Entity’s equity
As we have discussed earlier, an entity’s capital or equity is something that the owners have effectively invested into the entity in the form of paying in capital and later on leaving profits undistributed – share capital, reserves and retained earnings comprise the most significant part of equity under normal conditions. An entity’s equity is […]
Payable for expenses
There are two things one can buy from a supplier – an item of inventory or an item of expense (be it service or an item charged directly to expenses). Whilst items of inventory are a topic on their own, with this post we’ll focus on expenses. (more…)
Controls over PPE
Why do you think it’s important to have controls over your property, plant and equipment or PPE? It’s there, you can see it and that’s that. (more…)
Change in residual value
Whilst we have discussed the term ‘residual value’, we haven’t really approached the matter of this being changed. An asset’s residual value is an estimate the management makes using it’s best knowledge of the asset, it’s condition, it’s possible market at the end of it’s useful life, how extensively it will be used and so […]