Top 55 Balance Sheet Keywords

Top 55 Balance Sheet Keywords

Top 55 balance sheet keywords are available below 1. Account Receivables 2. Account Payables 3. Accrual 4. Asset 5. Accumulated Depreciation 6. Bank Account 7. Bank Overdraft 8. Bill Payable 9. Cash and Cash Equivalents  10. Computer Software 11. Copyrights  12. Current Asset 13. Current Liabilities(within 1year)  14. Current tax payable( Unpaid Tax) 15. Customer Lists. 16. Deferred tax  17. Development Cost 18. Dividend payable(Unpaid Dividend) 19. Equity 20. Furniture and Fixtures 21. Goodwill  22. Intangibles Noncurrent Asset  23. Inventories  24. Investments in Associates  25. Investments in Equity Instruments  26. Land and building 27. Liabilities  28. Long-term Asset. 29. Long-term Borrowings  30. Long-term Provisions  31. Mortgage Payable  32. Motion Picture Firm  33. Net Assets  34. Net Worth 35. Non-Controlling Interest  36. Non-current Liabilities (over one year)  37. Non-current Asset 38. Notes Payable  39. Other Components Equity  40. Other Current Assets  41. Other Intangible Asset            42. Patents 43. Prepaid 44. Property, Plant and Equipment 45. Retained Earnings  46. Salary Payable 47. Share Capital  48. Share part of Long Term Borrowings  49. Short Term Borrowings (Short-term debt) 50. Short term provisions  51. Tangible Non-current Asset  52. Trade Mark 53. Total Assets  54. Total current liabilities 55. Total Non-current liabilities     Top 55 balance sheet keywords listed above is for our...

Treasury Single Account

ohimaiconsulting.com Treasury Single Account (TSA): This is defined as a unified structure of government bank accounts for MDA’s. TSA is a single account in the custody of the Central Bank of Nigeria (CBN).TSA is a bank account or a set of linked accounts through which the government transacts all its receipts and payments. Treasury Single Account is a concluding phase of the E-collection scheme. The Federal Government of Nigeria commenced the implementation of e-collection component of TSA in January 2015. The first Treasury Circular on e-Collection was issued on the 19th of March 2015. E-collection automates and streamline revenues and other monies payable to MDAs as well as other Institutions and Parastatal directly into the Consolidated Revenue Fund (CRF) or designated accounts of each MDA at CBN using the CBN Payment Gateway. This is one of the good initiative of federal government of Nigeria that has help to bring about transparency and accountability. This initiative has given Nigeria government control over the management of fund in the hand of Ministries, Department and Agencies (MDAs). OBJECTIVES OF FGN E-COLLECTION Ensure total compliance with the relevant provisions of the 1999 Constitution of the Federal Republic of Nigeria (FRN) (Section 162 & 80).Collect and remit all revenues due to the Federation Account and Federal Government Consolidated Revenue Fund.Block all leakages in government revenue generation, collection and remittance.Enthrone a new regime of transparency and accountability in the management of government receipts.Improve on availability of funds for development programs and projects.Align with the CBN Cashless policy.Ease the burden of revenue payers. BENEFITS OF TSA Government have oversight of all revenue and other monies collected...

Top 35 source documents in accounting

Top 35 source documents? Top 35 Source documents: these are the first source of information from which the accounting books are prepared. A source document is the document in which data for a transaction is collected. This is the supporting document that is used when recording journal entries for transactions. It is a document that serves as the proof or source of the transaction.   Examples of Top 35 source documents are mentioned below: Purchased order: purchase orders are sent by the buyer to the vendor first, and they outline exactly what the order should contain and when it should arrive.Sales Invoice: this is made for account receivables. When an item is sold the seller will issue a document providing all the details of the sale.Purchase Invoice: this is made for account payables. What the seller enters as sales invoice, the buyer will enter it into their system as a purchase invoice.Debit note: this is evidence of reduce in purchases. In customer books, debit note reduces how much they owe to the seller. This support purchases return journalCredit note: this is evidence of reduce in sales. In supplier’s books, credit note reduces the amount owed by the customer. This support sales return journalCheque: A check (cheque) is a special bank note that represents the cash that is being paid by the customer.Revenue receipt: this is used to record the receipt of cash. A receipt is proof that the payment has been made, which is a good idea when paying cash.Cash register receipts: this is a business paper that lists the money coming in from customers.Bank advice: They are debit or credit bank advice. Bank credit advice is bank documents informing the business...

The role of a forensic accountants in Alternative Dispute Resolution (ADR)

Some forensic accountants choose to specialise in Alternative Dispute Resolution (ADR) due to their familiarity with both finances and the legal system. Business litigation can be a very expensive and costly. Generally, opposing attorneys will fight vigorously for their clients. When forensic accountants are engaged as EXPERT WITNESSES in business litigation, such fighting can drive up the cost of the expert witnesses and drive down the understanding of the forensic accountant’s work and, therefore, the client’s satisfaction with the forensic accountant. In a typical business litigation scenario, the opposing attorneys may fight against providing information which the forensic accountant has requested in order to calculate damages or to perform a business valuation. Depending on the amount of rancor between the parties and level of antagonistic determination between the attorneys. There are times he may have to perform the damage calculation or business valuation without all the relevant information he believes is necessary. In the absence of such information, the forensic accountant may have to make reasonable assumptions regarding the missing information. If there are differing assumptions by each side’s expert witness, significant differences in damage calculation or business valuation amounts may result. In such situations, the parties often may expend significant time and incur significant costs in using these forensic accounting experts. Especially when there are significant differences of opinion between the two expert witnesses, the experts’ fees and attorney fees can be even higher. Both parties also may come away with confusion and misunderstanding regarding how the relevant damage amount or business’s value was determined. This is because they may only speak with the expert retained by their...

What is Alternative Dispute Resolution (ADR), Modes and Processes of Alternative Dispute Resolution (ADR).

Dispute resolution is the process of resolving a dispute between parties. Dispute resolution is also often referred to as “conflict resolution.” There are a number of processes that can be used to resolve conflicts, claims, and disputes. Therefore, ADR is the procedure for settling disputes without litigation, such as arbitration, mediation, or negotiation. It is also called external dispute resolution (EDR). ADR procedures are usually less costly and more expeditious. They are increasingly being utilized in disputes that would otherwise result in litigation, including high-profile labour disputes, divorce actions, and personal injury claims. One of the primary reasons parties may prefer ADR proceedings is that, unlike adversarial litigation, ADR procedures are often collaborative and allow the parties to understand each other’s positions. ADR also allows the parties to come up with more creative solutions that a court may not be legally allowed to impose. So the philosophy behind ADR is that it offers the parties an opportunity to avoid risks and reduces the likelihood of an unfavorable outcome. It gives the parties in the dispute the opportunity to consider the risks involved in litigation. Dispute Resolution Processes Generally, however, most dispute resolution processes are classified as facilitative, advisory or determinative or as ‘mixed’ or ‘blended’, and this article focuses on the more facilitative forms: (a) Facilitative processes involve a third party, usually with no advisory or determinative role, providing assistance in managing the process of dispute resolution. These processes include mediation and facilitation. (b) Advisory processes involve a third party who investigates the dispute and provides advice on the facts and possible outcomes. These procedures include investigation, case appraisal...
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