Lets talk some more on the movement of money in the cash book? Dr – Receipts Cr – Payments When money is received the bank balance increases and when money is paid out, the bank balance reduces. J Simple hey!!! Lets see how you get on with this simple scenario: ·        Where there is an … Read More

BAD/ IRRECOVERBLE DEBT Bad debt is an amount owed to a business which may not likely be paid by the debtor, having exhausted all possible means of chasing for the payment. Hence, such amounts need to be written off the books of accounts and should not continue to be presented within the debtors amounts as … Read More

What does an Accountant say when boarding a train? Mind the GAAP!!! GAAP is Generally Accepted Accounting Principles which are the rules and standards set within each country that govern how company accounts are to be prepared. In studying accounts, you need to learn this and be aware of these!!!

    Michael Jordan, former American professional basketball player is deemed to be the greatest basketball player of all time as declared on the official NBA website.   Jordan joined the Bulls in 1984 as the third overall draft pick, and quickly emerged as a league star, entertaining crowds with his prolific scoring while gaining a reputation … Read More