Relevant Business News from Ghana

List of International Accounting Standards  The International Accounting Standards Board (IASB) develops the International Financial Reporting Standards (IFRS’s). Before 2003, the standards issued were known as International Accounting Standards (IAS’s). In 2003, IFRS 1 was issued and since then, all the new standards are now called IFRS’s. There are currently 28 IAS’s and 16 IFRS’s in issue.              IFRS Ø   IFRS 1: First-time Adoption of International Financial Reporting Standards Ø   IFRS 2: Share-based Payment Ø   IFRS 3: Business Combinations Ø   IFRS 4: Insurance Contracts Ø   IFRS 5: Non-current Assets Held for Sale and Discontinued Operations Ø   IFRS 6: Exploration for the Evaluation of Mineral Assets   Ø   IFRS 7: Financial Instruments: Disclosures Ø   IFRS 8: Operating Segments   Ø   IFRS 9: Financial Instruments Ø   IFRS 10: Conso...

Free download  Frank Wood's business accounting book pdf 1 and 2 from the link below   I have used several accounting books in my short journey of studying accounting for my professional exams and one of the books which helped me in getting the fundamentals of the subject is the Frank Wood's business accounting series written by Frank Wood & Alan Sangster . The book is self explanatory and good for those who want to study accounting on their own or doing an online study.  The tenth edition of Frank Wood's business accounting 1 and 2 can be downloaded from the link below Frank Wood's Business Accounting 2- 10th Edition   Frank Wood's Business Accounting 1-10th edition  

Accounting to Frank Wood & Alan Sangster (2005), accounting began because people needed to: 1. Record business transactions, 2.  Know if they were being financially successful, and  3.  Know how much they owned and how much they owed.  It is known to have existed in one form or another since at least 3,500 BC (records exist which indicate its use at that time in Mesopotamia). There is also considerable evidence of accounting being practiced in ancient times in Egypt, china, Greece, and Rome. In England, the ‘pipe roll’, the oldest surviving accounting record in the English language, contains an annual description of rents, fines and taxes due to the king of England, from 1130 to 1830. However, it was only when Paciloi wrote about it in 1494 or, to be more precise, wrote about a branch of accounting called, ‘bookkeeping’ that accounting began to be standardized and recognized as a process or procedure. No standard system for maintaining accountin...