Accountingwired

Notes to the (financial statements) accounts explained
The financial statements of a company are accompanied by notes to the accounts. The notes are additional information explaining each line item in those statements. One importance of it is that it helps reduce the bulkiness of each financial statement in an annual report.
Read: https://www.accountingwired.com/2024/09/notes-to-financial-statements-accounts.html

Retroactive income tax (Taxation) explained
Income tax is retroactive if they are paid now and are for a previous year of assessment. In Nigeria, a case of retroactive taxation occurred recently. When this occurs it affects the company's current fund. In this article, we discussed it in detail.
Read: https://www.accountingwired.com/2024/08/retroactive-income-tax-taxation-explained.html

The cash flow statement explained
A cash flow statement is a statement that reveals how cash was utilized by an entity. The report explains the free cash flow of an entity and can be used in investment appraisals and forecasting.
Read: http://www.accountingwired.com/2024/08/the-cash-flow-statement-explained.html

Basic industry explained
If you are involved in the harnessing of raw materials that are either consumed or processed, then it is likely that you work in the basic industry of your country. In this article, we explain what this term means and its importance and disadvantages.
Read: http://www.accountingwired.com/2024/08/basic-industry-explained.html

Seven (7) Types of Crypto Tokens explained
Crypto tokens are digital assets that make up a blockchain. They are different from digital coins to the extent that they are part of the ecosystem relating to it. You should see a crypto token as the Kobo aspect of the Naira. In this article, we explain this term more.
Read: https://www.accountingwired.com/2024/08/seven-7-types-of-crypto-tokens-explained.html

Attestation In auditing explained
The term attestation signifies agreeing to the accuracy of a set of data as a result of an expected knowledge of the subject matter. Attestation is an aspect of assurance services. It provides a means to verify if certain information prepared internally can be relied on.
Read: https://www.accountingwired.com/2024/08/attestation-in-auditing-explained.html