How to Account for Fixed Assets/PPE
The accounting treatment for Property, Plant and Equipment (commonly referred to as PPE) is set out within IAS16. PPE may also be referred to as fixed assets or tangible assets and …
Why Businesses Are Allowed To Claim VAT Back
Before you can understand why businesses are allowed to claim their VAT back, it must first be understood which businesses can reclaim VAT and also how the VAT system works. …
What is The Accounting Equation?
The accounting equation is the basis of all accounting entries that will be put through a company’s accounting system. The fundamental principle of the double entry system relies on the …
What Is a Break Clause (Leases)
It is common practice for lease agreements to contain a break clause, especially when the lease is in relation to the rental of a property (a tenancy agreement).
What is the Difference Between an Operating Lease and a Finance Lease
The main difference between an operating lease and a finance lease is the nature of the ownership of the underlying asset. Generally, an operating lease would be classed more