12 Uber-Cool Vintage Accounting Source Documents Examples

12 Uber-Cool Vintage Accounting Source Documents Examples

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…

INTERNATIONAL STANDARDS & ACCOUNTING TERMINOLOGY

INTERNATIONAL STANDARDS & ACCOUNTING TERMINOLOGY

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…

Dump the Monetary Concept – Measure What Makes Life Worthwhile!

Dump the Monetary Concept – Measure What Makes Life Worthwhile!

“Not everything that can be counted counts, and not everything that counts can be counted.” Albert Einstein, physicist (1879 – 1955) The principle of monetary concept states that anything which cannot be measured in monetaryterms will not be considered as a part of the accounting data. While accounting captures the numerical performance of a business,…

Source Document – the Returned Cheque Advice

Source Document – the Returned Cheque Advice

Image courtesy of The Association of Banks in Singapore Reasons for Dishonoured Cheques Whenever a cheque given to a business bounces, the bank will send notice to the business that the customer/ debtor’s cheque was dishonoured. The cheque may not have been cleared for one or more of the following reasons: 1. There is insufficient…

5 Reasons Why Principles of Accounts

5 Reasons Why Principles of Accounts

You just finished your final year examinations and are considering your options. The familiar arts (history, literature or geography) and science  (biology, physics and chemistry) Principles of Accounts (POA) sounds so foreign and you’ have heard from friends that it is boring. But there’s more to debits and credits in POA. “’Double-entry bookkeeping’ is one…

What is the difference between Net Book Value (NBV) and Net Realisable Value (NRV)?

What is the difference between Net Book Value (NBV) and Net Realisable Value (NRV)?

The Net Book Value (NBV), also known as depreciated cost, is equal to its original cost (its book value) less amortisation (not in O’/N’ level syllabus) and depreciation. On the other hand, the Net Realisable Value (NRV) refers to the selling price of an asset minus the expenses incurred in the sales transaction, and in…

Track Your Numbers to Meet Your Business Goals!

Track Your Numbers to Meet Your Business Goals!

[From Caleb: Today, Adam Khoo shares about tracking your accounting figures to meet your business goals. Just last month, he wrote about why expats will rule Singapore and why money is the lifeblood of business. This post is written for business owners and aspirant. Start ups are usually drowned in the excitement of entreprenuer work….

2022 POA Syllabus O Level

2022 POA Syllabus O Level

Even the most seasoned tutors may go out of sync sometimes. In 2008, the Singapore Examinations And Assessment Board removed multiple choice questions from POA Paper 1, replacing them with structured questions – to the misery of my then-students. This blog post contains the latest syllabus for Principles of Accounts at N’/O’ and A’ Levels….