Free AAT study materials

OpenTuition has now launched it’s new website dedicated to providing free study materials to assist students preparing for accountancy examinations.

Immediately available are downloadable course notes for the ACCA examinations, and interactive computer-based training for AAT students. These are accessible by students throughout the world, free of charge.

Over the coming months OpenTuition will increase the resources available with the addition of podcasts, audio lectures, video lectures and more printed material.

The objective of OpenTuition is to provide all accountancy students throughout the world with the resources they need to study for the major accountancy…

Where did all the money go?

A common question asked by non-financially orientated individuals is “ok, so we’ve made so much profit but the bank balance doesn’t have that much in it – where has all the money gone?”

This article by Steve Collings is the first article in a series which will consider the requirements of the various UK and international accounting standards and illustrate the contents of the article by considering an example.  We start with FRS 1 “Cash Flow Statements” and is particularly relevant for those students studying a financial reporting paper under the UK stream.  The international…

Reporting on Audit Clients

Auditors in the United Kingdom have a statutory responsibility to form an independent opinion on whether or not a reporting entity’s financial statements represent a true and fair view.  Note the term independent means an unbiased opinion.

In this article Steve Collings considers some of the reports an auditor is obliged by statute to give when they have arrived at their opinion.  This article will look at the auditor’s opinion and illustrate these, using scenarios as to which type of report to give in particular circumstances.

The main opinions auditors give on financial statements in…

A Technical Summary of IAS 8

In this article Steven Collings takes a look at the main requirements of IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors.

Objective

The objective of IAS 8 – Accounting policies, changes in accounting estimates and errors is to establish a “benchmark” for a reporting entity to select and change its accounting policies which, in turn, deals with the accounting treatment and disclosure of changes within a reporting entity’s accounting policies and changes within its estimation techniques.

The standard itself is intended to enhance the relevance and reliability of an entity’s financial statements…

AAT 2008 Pocket and Desk Diary’s now on sale!

AAT merchandise is available for purchase - items available include desk diaries, pocket diaries, document and magazine folders, keyrings, wall plaques and metal pen and pencil sets.

For more details see the following page.