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May 26, 2021
Understanding the Accounting profession
May 27, 2021An accurate financial position is essential for an accurate profit determination which is essentially the change between the financial positions of two accounting periods and presented on two levels,
- Comprehensive income (core activities)
- Other comprehensive income (passive activities)
Ultimately the practice of summarizing financial information by classifying and recording transactions is to determine the financial position (the net difference between asset and liability balances).
A significant part of our work is adjusting recorded balances to reflect as accurately as possible asset and liability period end carrying values.
Rob Scott
Rob leads Scott Stephenson Business Advisory (SSBA) with his passion for sharing his knowledge and experience. His experience (he is a Chartered Accountant and Registered Auditor) in banking, business start-ups, education (Financial Accounting, Auditing, Financial Management & Tax) & others equips him well to connect with you and help you grow your business profile.