IFRS

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.

Learn how sales commissions are reported on the income statement, including the different types of commissions and how to calculate them.

Learn how to properly account for self-constructed assets with this comprehensive guide. Understand the different methods of accounting for self-constructed assets and the best practices for each.

Small businesses are the backbone of the economy, and understanding how they generate revenue is essential for success. This article explores the various sources of revenue earned by small businesses, including sales, services, investments, and more. It also examines the challenges small businesses face when it comes to generating revenue, such as limited resources and competition.

An inventory write-down is a process used by businesses to reduce the value of their inventory on the balance sheet. This article will provide an overview of the process, including the reasons why a write-down may be necessary, the steps involved, and the potential implications for businesses. It will also discuss the importance of accurate record-keeping and the potential consequences of not reporting a write-down. Finally, it will provide guidance on how to report a write-down and the potential benefits of doing so. This article is essential reading for anyone looking to understand the process of reporting an inventory write-down and the potential implications for their business.

Take write-offs in accounting is a process used by businesses to reduce the value of an asset or liability on their balance sheet. This process is used to account for losses that have occurred due to a variety of reasons, such as bad debt, obsolete inventory, or damaged goods. It is important for businesses to understand the implications of taking write-offs in order to ensure accurate financial reporting.

Israel’s accounting rules are essential for businesses in the Israeli market. These principles are based on global standards, like International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP).

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?

The peculiar world of financial reporting requires adherence to Generally Accepted Accounting Principles (GAAP). It ensures transparency and reliability for stakeholders. But, some entities don’t follow GAAP – let’s see who they are! Who doesn’t follow GAAP?