Dutable

Meaning of auditing Auditing refers to a systematic and independent examination of books, accounts, documents and vouchers of an organization…

            One company may acquire a controlling interest in another company either: (a)      By creating a new company and retaining…

Introduction to consolidated accounts balance sheet There are two main problem areas with consolidated balance sheets. The first of these…

            The function of the consolidated balance sheet is to disclose: (a)      The total of the combined assets and…

Each individual company within a group required to produce its own accounts and to submit these to its shareholders, file…

A consolidation worksheet may have many forms. As a minimum however, the worksheet should have; (a)  Columns for parent and…

The accountant who prepares consolidated statements usually uses a worksheet to help determine the correct consolidated balances. The process starts…

Millions of people invest in securities of major companies listed on the stock exchange. All these people receive consolidated financial…

Consolidation of accounts is deemed appropriate only when effective control over the subsidiary is present and continuing and when the…

 Since corporations or companies are usually granted the power to hold title to any form of property, one corporation or…

(a)  Group of companies is comprised of a holding together with its subsidiaries and sub-subsidiaries; (b)  Holding/parent company is one…

In the nineteenth century American companies evolved a scheme whereby shareholders were invited, while retaining ownership of their shares, to…

In its opinion No.28 titled Financial Reporting, the Accounting Principles Board (APB) established guidelines for the following components of interim…

 Introduction Interim financial reports are usually associated with interim financial statements in form of quarterly reports issued by public owned…

 Accounting to statement of Accounting standard (SAS) 12 which accords substantially with the requirements of the international Accounting standard (IAS)…

There are two major methods of presenting the tax effect of timing differences in the financial statements: (a)      Net –…

The Nigerian Tax Laws provide that tax losses of current period may be used to reduce or eliminate tax to…