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Understanding Computer Software in Balance Sheet (Guidance)

Computer equipment is considered one of the most significant components of fixed assets items in an entity's balance sheet. This kind of asset usually has more than twelve months and classified as non-current assets, initially recognized at cost and subsequently value...

Understanding Leasehold Improvements in Balance Sheet (Guidance)

What are Leasehold Improvements? Leasehold Improvements are defined as modifications made to a leased space or a leased asset to make it more suited to the specific needs of the given tenant. When a rental or a tenancy agreement is signed upon, there are several...

How To Prepare A Balance Sheet? (Guidance)

Under the IAS 1 of IFRS(International Financial Reporting Standard), every business entity must comply with reporting and representation of financial data. Five financial statements are the most crucial and mandatory for reporting. Balance Sheet is one of the most...

What Is A Classified Balance Sheet? (Explained)

A company’s financial statements tell about a company’s financial health and position for different fiscal years. A balance sheet, often regarded as a financial position statement, is one of the most important financial statements. The balance sheet is based on the...