Accounting information system – meaning

What are duties of internal auditor?

The accounting information system is the system which provides quantitative information about the effects of transactions and other events on accounting entity.

An accounting information system is generally a computer-based method for tracking accounting activities in conjunction with information technology resources. It combines the application of generally accepted accounting principles with the use of information technology resources. read more

Revision question on disadvantages of sole propriatorship.

Revision question on disadvantages of sole propriatorship.

A sole proprietorship is the smallest form of business organization, and also the most common in the country. However, while there are certain advantages (it is easier to set up a sole proprietorship than a limited liability company, for instance), there are numerous disadvantages. read more

Programme budget – meaning

Recognition criteria for intangible assets according to IAS 38

A program budget is a budget designed for a specific activity or program. This budget includes only revenue and expenses for a specific program. Program budgets are used in many organizations including businesses and schools. Establishing a budget by grouping expenditures and revenues into functional activities, or programs. Rather than having a budget item for capital equipment that might be spread over many programs (as is done in line-item budgeting), a program budget would include only proposed capital expenditures for a specific program. The program budget allocates money to major program areas, focusing on the expected results of services and activities to be carried out. Program areas often utilized by government entities include public safety, public works, human services, leisure services, and general government. The emphasis of program project’s is on the attainment of long-term local community goals. read more