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.…
Author Archives: accountancy
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?…
How Accountants Manage Conflicts of Interest
Managing conflicts of interest is a critical ethical responsibility for professional accountants. A conflict of interest occurs when personal, financial, or relational interests impair—or appear to impair—an accountant’s objectivity or professional judgment. Properly managing these situations is essential for maintaining public trust, complying with ethical codes, and safeguarding the reputation of the profession.…
Conflict of Interest in Accounting
A conflict of interest in accounting arises when a professional accountant’s personal interests, relationships, or obligations interfere—or appear to interfere—with their ability to act impartially and in the best interests of their client, employer, or the public. Conflicts of interest can undermine trust, compromise ethical decision-making, and violate professional codes such as the ACCA Code of Ethics and Conduct or the IESBA Code.…
Qualitative Aspects of Stock Control
While quantitative aspects of stock control focus on numerical data like stock levels, turnover ratios, and reorder points, the qualitative aspects emphasize the non-measurable factors that influence the efficiency, reliability, and effectiveness of stock management. These aspects contribute to the overall quality of decision-making, staff behavior, and process integrity within inventory operations.…
Benefits of Stock Control
Effective stock control brings significant advantages to businesses by ensuring that inventory is properly managed, losses are minimized, and resources are efficiently utilized. It contributes to operational stability, financial accuracy, and customer satisfaction. Below are the key benefits of implementing a strong stock control system.…
Tools and Documents Used in Stock Control
Effective stock control depends on using accurate tools and documentation to monitor, record, and manage inventory throughout its lifecycle. These tools and documents support real-time decision-making, internal control, and financial accuracy. They ensure that inventory is properly tracked from purchase to usage or sale, reducing the risk of loss, theft, or stock discrepancies.…
Methods of Stock Control
Stock control methods are the strategies and systems used by businesses to monitor, manage, and maintain optimal inventory levels. These methods help prevent overstocking and stockouts, reduce holding costs, and support smooth production and sales operations. Choosing the right method depends on the nature, size, and complexity of the business.…
Types of Stock Controlled
Stock control involves managing various types of inventory that support a business’s operations, production, and sales activities. Understanding the different types of stock is essential for implementing effective control systems, optimizing inventory levels, and ensuring smooth workflow across departments. Each type of stock serves a distinct purpose in the supply chain and must be monitored and managed accordingly.…