Chartered Accountants

Chartered accountants were the first accountants to form a professional accounting body, initially established in Scotland in 1854. The Edinburgh Society of Accountants (1854), the Glasgow Institute of Accountants and Actuaries (1854) and the Aberdeen Society of Accountants (1867) were each granted a royal charter almost from their inception. The title is an internationally recognised […]

US Crypto Asset Accounting

Currently, IFRS does not provide specific guidance on accounting for crypto assets. This IFRS Viewpoint follows our earlier IFRS Viewpoint No.9 ‘Accounting for cryptocurrencies – the basics’ and seeks to explore the accounting issues that arise for miners and validators in mining and maintaining the blockchain in accordance with existing IFRS. In this context, it […]

Accounting for Cryptocurrency

The popularity of cryptocurrencies has soared in recent years, yet they do not fit easily within IFRS’ financial reporting structure. For example, an approach of accounting for holdings of cryptocurrencies at fair value through profit or loss may seem intuitive but is incompatible with the requirements of IFRS in most circumstances. This report explores the […]


A Certified Public Accountant (CPA) is the highest standard of competence in the field of Accountancy across the globe. The exam is administered by the American Institute of Certified Public Accountants (AICPA), which is the world’s largest accounting body. If you ever consider a career in accounting and want an illustrious career, CPA Course is […]

Unearned Incomes

Unearned income is income from investments and other sources which is unrelated to employment. Examples of unearned income include interest from savings accounts, bond interest, alimony, and dividends from stock. Unearned income also known as a “passive source of income,” is income not acquired through work. Unearned income differs from earned income, which is income […]

Passive Income

Passive income is generally defined as a stream of income earned with little effort, and it is referred to as progressive passive income when there is little effort needed from the individual receiving the passive income in order to grow the stream of income. They are the earnings derived from a rental property, limited partnership […]

Statement of profit and loss

The financial statements are the end products of accounting process.They are prepared following the consistent accounting concepts, principles, procedures and also the legal environment in which the business organizations operate. These statements are the outcome of the summarizing process of accounting and are, therefore, the sources of information on the basis of which conclusions are […]