To Capitalise or Not to Capitalise (Expenditure)
Deciding whether or not to capitalise expenditure can be tricky… Almost two decades ago a telecom giant in the USA, Worldcom, fraudulently capitalised computer paraphernalia such as cables and memory sticks. Compare the two double entries: What was the effect of Worldcom’s approach? They didn’t debit an expense and were able to overstate their profit. …
Struggling with AAT Variances?
Variances are often found difficult by AAT students. Here’s an analogy that may help you to understand them better. Eggsamine business decisions with variances: When my second son was very young we discovered that he was intolerant to gluten. As a family we enjoy baking and cakes, although not necessarily in that order. To accommodate…
IAS18 est mort, vive IFRS 15!
IFRS 15 Revenue from contracts with customers IFRS 15 Revenue from contracts with customers is examinable in your AAT exams now, replacing IAS 18 Revenue and IAS 11 Construction contracts. The good news is that the while there are differences, the overall approach is not significantly different. The new standard tightens up on practice which…
Self-Reflection – Ensuring Your Tomorrow Is Better Than Your Yesterday!
Reflections: Ensuring your tomorrow is better than your yesterday – and because of it. A number of the Accountancy Learning team attended an AAT event today, where there was much discussion on Apprenticeships. Part of the apprenticeship experience is self-reflection. However, self-reflection is not just relevant to apprentices and their end point assessment. It is…
Studying AAT…One Bite At A Time
Studying AAT…one bite at a time As you may know, I got mugged into joining in with the office entry for a charity Rainbow Run on the 9 June 2018. As well as having to run 5k, one gets showered along the way with powdered paint of a variety of colours. Those of you who…
Don’t Leave Your AAT Studies To The Last Moment!
A stitch in time saves nine! (…..don’t leave your AAT studies to the last moment) Grrrr!!??!! The other evening, I popped my head in to ask a tutor if she had sent off an email to a supplier that we had discussed earlier in the day. “Arrgghh. I was doing it” she said, looking…
