Income Statement What is an income statement? An income statement is a financial report that provides an overview of an entity's income and expenses for a specific period. An Income Statement is...
Income Statement
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Accounting Articles
Fixed Assets
Fixed Assets What is a fixed asset? According to AASB 16, fixed assets are tangible assets that meet the following criteria: They are held for various purposes, including using them in the...
Current Liabilities
Current liabilities What are current liabilities? Current liabilities are financial obligations that are expected to be settled within one year. According to AASB 101, a liability is...
Balance Sheet
Balance Sheet What is a balance sheet? A balance sheet is a financial statement that reports an entity’s assets, liabilities, and owner’s equity at a particular date. Also referred to as a...
Cash Flow Statement
Cash Flow Statement What is a cash flow statement?A cash flow statement is a financial report that tracks the movement of cash and cash like assets in and out of a business during a set time frame....
Current Assets
Current Assets What are current assets?Current assets are a category of resources listed on an entity's balance sheet. According to AASB 101, an asset is classified as "current" if the entity...
Cash vs Accrual Accounting
This article discusses cash vs accrual accounting as accounting methods, provides a case study, and offers tips on which method is suited for your business.
