An Inspiration to Publish “A Learner’s Guide to Financial Accounting” I remembered the first time I wrote. I thought to myself, how long...

A Song of Thanksgiving to Publish A Learner’s Guide to Financial Accounting I remembered the help and strength of God through the journey...

A Learner's Guide to Financial Accounting comprises 23 chapters. In this ebook, you will find: A Song of Redemption Dedication Preface...

Marvelous Ltd operates in its head office located in Lagos, Nigeria. The company has a branch in Awka, Anambra. The subsequent balances...

Why is a schedule showing amounts owed by credit customers classified as a single entry? See the suggested answers to practice activity...

17.1 …….. purchase is a financial transaction that occurs when a customer does not pay the complete price for an asset or item at the...

16.1 The accounting practice of an agricultural business requires the measurement and recognition of ………., ………., liabilities, expenses,...

15.1 State the accounting issues peculiar to shipping businesses. 15.2 A ………… contract is an arrangement between a vessel owner...

14.1 ………… is the acquisition cost of an asset. 14.2 Based on the current cost accounting method, assets are measured at the ………....

13.1 List the accounting standards superseded by IFRS 15. 13.2 What led to the development of IFRS 15? 13.3 What is the purpose...

12.1 It is possible for a partnership business to be converted to a limited liability company to raise additional capital through ………...

11.1 Partnership businesses are formed for several reasons. The objective of a partnership business is to …………. 11.2 Partnerships are...

10.1 Accounting ratios are ……. used to understand the financial statements of a business entity. 10.2 Accounting ratios are used to...

9.1 Several regulations determine how financial statements should be ………….. 9.2 A business entity is expected to be accountable to...

8.1 Incomplete records usually do not fulfill the requirements of the double entry principle. The double entry principle is …….. 8.2 ...

7.1 …… are self-balancing accounts. 7.2 A ……….. shows the particulars of the balances of accounts in the general ledger. 7.3 A...

6.1 …… entries occur because the accountant needs to make the reporting entity’s financial statements show a true and fair view of the...

18.1 A branch is a subset of a larger company that may operate from the same country where the …….. operates. 18.2 A branch is an...

19.1 Branch accounts are prepared by the branch using the…….. currency. 19.2 The ……… currency is used in the primary economic...

20.1 An investment can be defined as setting aside money into a business, short-term deposit, or long-term project with the expectation...