Well done for getting through the second week! Let’s wrap it up by recapping some of the key aspects we studied so far – just the main takeaways, and in …
End of week exercise Inventory Items Go to Xero.com and log into your Advantage Tennis Coaching company Click ‘Business’ -> ‘Products and services’ and create two inventory items, follow the …
Let’s now deal with the other non-cash transactions. Firstly, we can start by recording invoices that sent to Customers. Click ‘Business’ and ‘Invoices’, then ‘new invoice’. Record the third transaction …
You can record transactions in the traditional accounting forms of manual journals and ledgers as well as Excel. Once you’ve done that, it is time to record these transactions in …
Exploring Xero This week we will go through the ‘Advantage Tennis Coaching’ case study in Xero to understand how this platform works. Please download the case study found on the …
In this article, you will learn more about a cash flow statement example and its relationship to other financial statements. Cash Flow Statement Example Relationship of the Statement of Cash …
Well done on reaching the end of the course, are you feeling inspired to continue your studies in accounting? If you don’t want the learning to stop now you can …
Cash Flow Statement Format Classified into three main sections reflecting major cash flow activities: Operating activities: day-to-day activities including receipts and payments Receipts from customers. Payments to suppliers and employees. …
Market for Sustainability Assurance Services A relatively less well-established accounting practice when compared to sustainability reporting New form or type of assurance service Largely unregulated (in contrast to financial audits) …
Cash and Accrual Accounting The accrual system focuses on when a transaction takes place. In contrast, the statement of cash flows is concerned with cash receipts and payments, and not …
Independent external assurance – most popular approach Sustainability assurance: assurance engagements in which an external third-party assurance provider (SAP) is recruited to provide assurance over a sustainability report. Primary objective: …
Internal Assurance Ask the internal auditor to review the sustainability report However, the credibility/independence of this approach may be questioned especially amongst external stakeholders Stakeholder Panels Assemble a panel of …
Answer to the previous exercise Event On profit On cash Repayment of a loan 1. None 2. Decrease Making a sale on credit 3. Increase 4. None Buying a non-current …
The importance of cash Cash refers to all cash, cash on hand and cash equivalents. Businesses fail as a result of inability to find sufficient cash to settle their responsibilities. …
What is Sustainability Reporting? Accounting traditionally focused on organisations economic/financial performance Measure and report on financial performance (financial accounting and financial reporting) In the case of companies, the aim was …