Accounting & Finance Playbook
Region: KE
Thursday 21 May 2026 03:15:00 GMT
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user5191414261329 :
This is the most commonly used Accounting principle of Accounting. As an Auditor, when Auditing Revenue, I usually emphasize on Cut offs, that is, checking whether the revenue received, are from the transactions of the period under review. Secondly, I focus on provisions, IE Audit fees and Payroll liabilities for December, which are expected to be paid in the January. They must be recognised in the period when the transactions occured, rather than when payment (cash) is received or paid. All these demonstrate Accrual Accounting. ( Also Check IAS 37, which talks about provisions , Contingent Assets and Contingent liabilities). Thanks for pointing out this.
2026-05-22 18:28:08
3
let there be light :
bring me back
2026-06-03 18:15:51
2
Good vibes :
Thank you so much for this
2026-06-15 04:12:07
1
stanley.O :
welldone.
2026-06-27 00:59:55
1
Safia :
Thanks a bunch!🥰
2026-06-04 21:52:42
1
Mazeed khan :
appreciated
2026-05-21 12:35:21
1
Mack son :
correct 💯
2026-05-21 07:51:43
2
Tobby :
appreciated
2026-05-26 14:44:40
1
CPA Isaac Wamalwa :
Appreciated
2026-05-21 19:29:48
1
user5465948176114 :
🥰🥰🥰
2026-07-01 11:08:59
1
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