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,…
Bycalebho
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…
Bycalebho
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…
Bycalebho
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…
Bycalebho
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…
Bycalebho
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…
Bycalebho
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…
Bycalebho
“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,…
Bycalebho
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…
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