The non-current asset register is the subsidiary ledger detailing the individual items of plant and equipment. Theregister records the cost of each asset and of any additions or alterations and the accumulated depreciation charged against it. Balances in the register reconcile with the written down value of the plant and equipment account in the general ledger.
The total direct labor cost variance is the difference between the actual labor cost in producing units in the period and the standard labor cost of producing those units.
Direct labor cost variance is calculated as follows:
The standard labor cost of actual production X
The actual labor cost of actual production (X)
Direct labor cost variance X
The standard labor cost of actual production = actual units produced x standard hours per unit x standard rate per hour
Self interest threat this is threat which arise when the accountant or the audit firm has the financial interest or other interest in audit client. Typically, this means that the accountants decisions may be influenced by self-interest and the accountant will therefore not act with objectivity and independence. For example if the auditor have shares in client he may not be willing to issue bad opinion or conclusion for fear of adversely affecting the value of his shares.
Triple column cash book is an improvement over double column cash book. In modern times, it is virtually impossible to imagine any business which does not deal with banks. Most of transactions relating to receipts and payments of money are made through cheques. So the transaction trough banks are also recorded in the triple column cash book by adding one more column that is bank column on the both sides of cash book. Therefore there are three columns on both sides of triple column cash books namely, cash, bank and discounts columns. That is the why this type of cash book is known as triple column cash book.