Mature biological assets are those that have attained harvestable specifications or are able to sustain regular harvests whereas immature biological assets have not yet reached that stage. The post Mature biological asset – definition appeared first on ACCA ONLINE ACCOUNTING TEACHER. Related posts: Bearer biological asset – definition Consumable biological asset – definition Biological transformation – definition ..read more

Bearer biological assets are biological assets from which other biological assets or agricultural produce are obtained, such as dairy cattle or fruit trees. The post Bearer biological asset – definition appeared first on ACCA ONLINE ACCOUNTING TEACHER. Related posts: Consumable biological asset – definition Biological transformation – definition Current budgets – definition ..read more

Consumable biological assets are those that are to be harvested as agricultural produce or sold as biological assets, such as beef cattle or crops for harvest such as wheat The post Consumable biological asset – definition appeared first on ACCA ONLINE ACCOUNTING TEACHER. Related posts: Biological transformation – definition Current asset turnover ratio – meaning and formula Current budgets – definition ..read more

Biological transformation is the process of growth, degeneration, production, and procreation, which causes qualitative and quantitative changes in a biological asset Biological assets are the principal assets of agricultural activities, and they are held for their transformative potential. This results in two major types of outcomes: The first may involve asset changes—as through growth or … The post Biological transformation – definition appeared first on ACCA ONLINE ACCOUNTING TEACHER. Related posts: Current budgets – definition conditions that must be met before an entity can commence t ..read more

The following information was extracted from the books of Kadege who operates a hardware business in Ngoma District as at 31 December 2016. Balances brought forward:   Dr (TZS) Cr (TZS) Capital   142,500,000 Cash 22,300,000   Bank 66,200,000   Trade receivables 30,500,000   Trade payables   25,000,000 Utilities prepaid 4,000,000   Accrued rent   … The post Revision question on how to prepare trial balance and ledgers. appeared first on ACCA ONLINE ACCOUNTING TEACHER. Related posts: Revision question on government grants – IAS 20 Revision question on preparation of statement of financial pos ..read more

Management accounting is the process of preparing management reports and accounts that provide accurate and timely financial and statistical information required by managers to make day-to-day and short-term decisions. Management accounting has grown and become more important as a result of the following factors: The global market – with improvements in transportation and communication, the … The post The reason why management accounting has become so important to a business. appeared first on ACCA ONLINE ACCOUNTING TEACHER. Related posts: 11 Benefits of partnership form of business. NBAA r ..read more

Value for Money audit is a comprehensive examination that provides an objective and constructive assessment of the extent to which financial, human and physical resources are managed with due regard to economy, efficiency, and effectiveness; and accountability relationships are served. Deficiencies of Value for Money Audit i.     There exist no universal measures for outputs E.g … The post 4 Deficiencies of Value for Money Audit appeared first on ACCA ONLINE ACCOUNTING TEACHER. Related posts: Revision question on public sector auditing NBAA May 2019 Meaning of each of the major components ..read more

Materials price variance arises due to the standard price specified and the actual price paid. It may also arise due to: Changes in basic prices of materials, failure to purchase the quantities anticipated at the time when standards were set, failure to secure discount on purchases, failure to make bulk purchases and incurring more on … The post Materials Price Variance: meaning appeared first on ACCA ONLINE ACCOUNTING TEACHER. Related posts: Efficiency Variance – meaning Material Mix Variance – meaning and formula Material yield variance – meaning ..read more

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