FINANCE MATTERS

We can all agree that when you use an asset e.g. a car then over time there will be a reduction in the value of the asset over time. Deprec...

What is Value Added Tax? Value Added Tax (VAT), also known as goods and services tax in other jurisdictions, is a tax charged on the sup...

For most business, except supermarkets and cash intensive business, most of the  sales are on credit. As a result there is always a risk of ...

Capital Expenditure First I have to point out that Capital expenditure has nothing to do with the owner's Capital Account or Owners e...

Definition of Provisions A provision is an amount that you set aside in your book of accounts to cover a future liability. The liability...