Consistency convention explained
The convention of consistency guides preparers from using different financial assumptions, methods,…
The convention of consistency guides preparers from using different financial assumptions, methods,…
Businesses are expected to continue for a long time. However, for accounting purposes, it is necess…
The primary source of revenue for money deposit banks is loans. These loans are usually from custom…
The realization concept is the basis on which revenue and other income are recognized in the financ…
Investors, especially institutional ones, are concerned about corporate governance. This implies th…
Based on market capitalization, seven Nigerian banks are in the trillion-naira mark on the Nigerian…
Finance professionals always consider the materiality of a transaction to decide on what action to …
Business failure is real ! Therefore, you need to know what to do to prevent it. One of such effort…
The term substance over form is an accounting concept that ensures financial statements are true an…
We have explained that the corporate governance agency cost resolves the conflict of interest betwe…
Generally, there are three types of profits in business, which are gross profit, operating profit, …
Profit is used to measure a business's success. It is the yardstick entrepreneurs use to know i…
Agency cost is the sum of money spent from a company's treasury due to employing directors as…
The going concern concept states that, from a financial reporting perspective, a business should be…
The historical cost concept states that a business entity should identify the value of an item in t…
Companies are not created to fill a vacuum. They are established to fulfil a purpose. A company may…
Agency conflicts mean the issues that arise from allowing executive directors to manage the company…
The business entity concept explains why founders must separate their personal spending and income …
Open banking is the use of an API (Application Programming Interface) to connect bank customers'…
Matching concept in accounting principle ensures that income and expenses are matched in the same p…