Bycalebho
How suitable the depreciation method is on an asset depends on how well it reflects the economic reality of the utility of the business’ assets. In the real world, screw it. Straight Line Method is used for its simplicity. 🙂
Bycalebho
Suggested Solution It’s 8 days since your last paper. Hope you guys are having a great time with your holidays! This year’s suggested solutions came in a little late as the O’ levelers are ramping up their revision. 😉 Anyhow, it’s here now! Tell me what you think. Right click and choose “Save As” to…
Bycalebho
sheep by A. Roger Davies Short Answer: Land generally does not depreciate in value because it is a limited resource with aninfinite life and can be used for a range of purposes. Explanation: All assets wear out and eventually cease to exist, except land. Land is not considered to ever be able to be destroyed,…
Bycalebho
So guys, it’s a few more weeks before your O’s are finally over! Yes, I know some of you have been waiting long for the suggested solutions. Braving thunderstorm and huge downpour some slight drizzle, I’ve been able to receive both Paper 1 and Paper 2 of 2011 GCE O’ Level POA Paper yesterday afternoon,…
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The GCE N’ Levels Principles of Accounts was over yesterday! Good news for our friends who are not taking O Level Emaths & D&T – happy holidays! It was an intensive weekend for my students and I as we racked our brains over the POA crash course from Friday to Sunday. We identified several questions…
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7092/01 GCE O’ Level Principles of Accounts 2010 Paper 1 Suggested Solutions 7092/02 GCE O’ Level Principles of Accounts 2010 Paper 2 Suggested Solutions Previous Post The rough working for this afternoon’s GCE O’ Level Principles of Accounts Paper 2 Trading, Profit and Loss is out. Please click here download the pdf file. Goodness, and…
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Thank you all who came for the crash course for such a wonderful time the last three days. You guys are amazing to have sat through a grueling 15 hours of intensive revision. Hope the Physics paper today was forgiving. Some final pointers before your POA Paper tomorrow: 1. Revise your theory questions. They weigh…
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As Accountants, we are constantly striving to learn and improve our knowledge. Here are some quotes that I found noteworthy that I hope you will too. 1. “A fool and his money are soon invited to part company.” – Oscar Wilde 2. “A good accountant is a good poet. He appreciates the true value of…
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Think accounting records are boring? Written diligently, these 12 uber-cool accounting/business documents provides rich insights to the bookkeeper/accountant’s era. From an elegantly drawn chicken to a receipt for buying 57 leeches, accounting records contains rich history found nowhere else. There could be fun doing accounting, conservatively speaking. 😉 Title-less book by Thomas Tye (1712-1783) Thomas…
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The terminology for accounting varies across different levels of study. Those of you who have moved on to study accounting at tertiary level would agree – terms like debtors and creditors have a different meaning in ICCI, CAT, ACCA and other accounting diploma/degree programs. The term Debtors used for O’/N’ Level, for example, becomes Accounts…
