How to Account for The Sale of Land

Learn the basics of accounting for the sale of land, including the different types of land sales, the accounting entries required, and the tax implications.

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Who Doesn’t Follow IFRS?
August 9, 2023 - Simplify Compliance

A lot of people are interested in companies that don’t follow International Financial Reporting Standards (IFRS). Those standards are set by the International Accounting Standards Board (IASB). But, some firms don’t stick to them – either by choice, or because of differences in regulations. Who doesn’t follow IFRS?

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How Many ITIL Rules are There?
August 4, 2023 - Simplify Compliance

ITIL stands for Information Technology Infrastructure Library – a bundle of practices used to manage IT services. With its rules and principles, it’s a valuable asset for firms around the globe. But how many rules are there in ITIL? How many ITIL rules are there?

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What’s The Difference Between SOP GMP and Procedures?
August 3, 2023 - Simplify Compliance

SOP, GMP, and procedures: three vital components for efficiency and compliance in various industries. SOPs provide step-by-step instructions for tasks.

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How Many IFRS Rules are There?

Exploring the world of International Financial Reporting Standards (IFRS), we face one question: how many IFRS rules are there? The IASB established the IFRS accounting framework. It is a complete set of accounting regulations used around the world. They are often changing, so they provide transparency and comparability in financial reporting between countries and industries.

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How Many Sox Rules are There?
July 12, 2023 - Simplify Compliance

SOX – eleven titles, endless rules. Many are curious to know the extent of the regulations under this landmark legislation. Each title focuses on corporate responsibility, transparency, financial disclosures, and auditor independence.┬áBut it’s not just about counting the rules. It’s understanding how they all connect and overlap – a daunting task! How many Sox rules […]

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What’s The Most Important GAAP Principle?
July 6, 2023 - Simplify Compliance

Understand GAAP (Generally Accepted Accounting Principles)? Must do! It’s a set of rules, standards, and procedures that guide accountants in preparing financial statements.┬áLet’s focus on one of the most important principles consistency. It requires companies to use the same accounting methods and policies over time. What’s the most important GAAP principle?

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What are Commonly Followed Accounting Rules and Standards in Australia?

In Australia, it’s essential for businesses to understand an follow accounting rules an standards. These guidelines, known as Generally Accepted Accounting Principles (GAAP), provide a framework to prepare an present financial statements. Through compliance with the Australian Accounting Standards Board (AASB) regulations, businesses can improve transparency an decision-making.

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What are Commonly Followed US Accounting Rules and Standards?

US accounting rules and standards are essential for financial accuracy and consistency. These professional rules of accounting tell companies how to record, present, and reveal financial information. They give businesses a reliable way to report their finances and help them make good decisions. What are commonly followed US accounting rules and standards?

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