Six Importance of auditor report

The audit report is a letter that states the opinion of the auditor regarding its examination of the financial statements. It gives him or her to express his professional view regarding those statements. And whether the statements are fairly represented on one hand and free from material misstatements on the other hand. In this article, … Read more

Five (5) limitations of cost accounting to note

The benefits of cost accounting cannot be denied. However, there are disadvantages or limitations to establishing a costing information system. This is more pronounced if the information system of the entity will operate different systems for financial and cost accounting. It is expensive Having a computerized costing system might be expensive unless an ERP that … Read more

External information sources for performance management

External information for performance management is organized from the business environment. The data collected is used for planning, decision-making, and controlling business processes and resources to achieve organizational goals and objectives. It is mostly required for strategic purposes. However, the business environment can also provide information for tactical and routine decision-making. Elements in the business … Read more

ICAN vs ACCA top seven differences

Will you choose the institute of chartered accountants of Nigeria (ICAN) over the Association of certified chartered accountants (ACCA)? That’s a personal choice. But this article shows their differences. In any case, some people wrote ICAN first before pursuing ACCA. Location ICAN is located in Nigeria. Their head office is at Ikoyi Lagos. It is … Read more

IPSASB released a new exposure draft (ED81) that requires your attention

The International public sector statement of accounting standards board (IPSASB) is calling on the finance professionals to respond to its latest exposure draft ED81. The ED is available for comment till the 31st of May, 2022. After which it will not be available. Exposure Draft (ED) is a document prepared by accounting professional bodies. It … Read more