Germany’s Foreign Minister Annalena Baerbock has proposed a tax or tariff on iPhone software updates in response to the United States’ protectionist measures on European goods. If implemented, this digital levy could set a new precedent in cross-border taxation and trade retaliation. This article explores the comprehensive implications of this proposal from the perspectives of accountancy, auditing, and macroeconomics.…
Monthly Archives: March 2025
The Truth About Social Credit Scores in America: How They Work and Why They Matter
Imagine walking into a bank, eager to secure a loan for your dream home, only to be denied because of a three-digit number. Or picture yourself applying for an apartment, only to be turned away for the same reason. That number? Your credit score.…
Why Is a Chinese Cancer Drug 30 Times More Expensive in the U.S.?
Imagine this: You need a life-saving cancer drug. In China, it costs just $280. In the U.S.? $8,892. Same drug. Same dose. So, what’s going on?
A Tale of Two Price Tags
The drug in question is Toripalimab (Loqtorzi), a PD-1 inhibitor developed by China’s Junshi Biosciences.…
Accounting Entries for Revaluation of Fixed Assets
Revaluation of fixed assets involves adjusting the book value of an asset to reflect its current fair market value. This process ensures that the asset’s value on the balance sheet is not materially different from its recoverable amount. The revaluation can result in either an upward (gain) or downward (loss) adjustment and must be recorded in accordance with applicable accounting standards such as IAS 16 – Property, Plant and Equipment.…
ACCA Code of Ethics and Conduct
The ACCA (Association of Chartered Certified Accountants) Code of Ethics and Conduct provides a framework of ethical principles and guidance for professional accountants. Based on the International Code of Ethics issued by the International Ethics Standards Board for Accountants (IESBA), the ACCA Code promotes integrity, transparency, and professionalism within the accounting profession.…
Understanding the U.S. $37 Trillion Debt: Who Owns It and How Will It Be Repaid?
The U.S. national debt is a staggering number—over $37 trillion as of 2025. That’s a mind-boggling amount, larger than the entire economies of China, Japan, and Germany combined. But what does that really mean for the average American? Who does the U.S. owe this money to, and how does the government plan to pay it back?…
The Strategic Value of Perpetual Inventory in Modern Business
In today’s fast-paced and data-driven business environment, maintaining accurate and real-time control over inventory is not just an operational need—it’s a strategic advantage. A perpetual inventory system empowers organizations with the tools and insights required to improve efficiency, reduce costs, enhance customer satisfaction, and make better-informed decisions.…
Best Practices for Managing a Perpetual Inventory System
Managing a perpetual inventory system effectively requires more than just implementing the right software. It involves maintaining data integrity, training staff, performing regular checks, and integrating technology across departments. These best practices help ensure the system remains accurate, efficient, and aligned with the organization’s operational and financial goals.…
Components and Tools of Perpetual Inventory
A perpetual inventory system depends on various components and tools to ensure continuous, accurate tracking of stock movements. These elements work together to automate the recording of inventory transactions, maintain real-time data, and support decision-making across procurement, sales, and finance functions. Below are the essential components and tools that make up a successful perpetual inventory system.…
Disadvantages of Perpetual Inventory
While a perpetual inventory system offers real-time tracking and increased efficiency, it also presents certain limitations and challenges. These disadvantages are important for businesses to consider when implementing or maintaining such a system, especially in terms of cost, complexity, and reliability.
1. High Initial Setup Cost
- Technology Investment: Requires hardware such as barcode scanners, RFID devices, and inventory management software.