Accountingwired

Notes to the (financial statements) accounts explained
The financial statements of a company are accompanied by notes to the accounts. The notes are additional information explaining each line item in those statements. One importance of it is that it helps reduce the bulkiness of each financial statement in an annual report.
Read: https://www.accountingwired.com/2024/09/notes-to-financial-statements-accounts.html

How does Memecoin work?
Memecoin is a token-based cryptocurrency that is built on a blockchain. These coins are created out of an internet meme or current event or to represent an animal or other living and nonliving thing. Although meme coins are a good way to start investing in cryptocurrency, they have their pros and cons.
Read: https://www.accountingwired.com/2024/09/how-does-memecoin-work.html

Retroactive income tax (Taxation) explained
Income tax is retroactive if they are paid now and are for a previous year of assessment. In Nigeria, a case of retroactive taxation occurred recently. When this occurs it affects the company's current fund. In this article, we discussed it in detail.
Read: https://www.accountingwired.com/2024/08/retroactive-income-tax-taxation-explained.html

The cash flow statement explained
A cash flow statement is a statement that reveals how cash was utilized by an entity. The report explains the free cash flow of an entity and can be used in investment appraisals and forecasting.
Read: http://www.accountingwired.com/2024/08/the-cash-flow-statement-explained.html

Basic industry explained
If you are involved in the harnessing of raw materials that are either consumed or processed, then it is likely that you work in the basic industry of your country. In this article, we explain what this term means and its importance and disadvantages.
Read: http://www.accountingwired.com/2024/08/basic-industry-explained.html

Pre-market trading in Cryptocurrency explain
The term pre-market trading is primarily used in stock trading in the stock exchange market, and the platform is made available by brokers in those markets. For Cryptocurrency, pre-market trading is done by centralized exchanges (CEX) and is a medium used to sell tokens before they are listed. In this article, let's dive into this term in more detail.
Read: https://www.accountingwired.com/2024/08/pre-market-trading-in-cryptocurrency.html

Advantages and disadvantages of Nano business

Nano business is the new frontier to economic growth for many developing countries. It provides a means of livelihood to those who engage in them. In this article, we explain the advantages and disadvantages of nano businesses in Nigeria.

Read: https://www.accountingwired.com/2024/08/advantages-and-disadvantages-of-nano.html

Seven (7) Types of Crypto Tokens explained
Crypto tokens are digital assets that make up a blockchain. They are different from digital coins to the extent that they are part of the ecosystem relating to it. You should see a crypto token as the Kobo aspect of the Naira. In this article, we explain this term more.
Read: https://www.accountingwired.com/2024/08/seven-7-types-of-crypto-tokens-explained.html

Join us at the CIBN 17th Annual Banking & Finance Conference scheduled to hold;

Date: September 10-11, 2024
Theme: Accelerated Economic Growth and Development: The State of Play and the Way Forward.
Venue: Congress Hall, Transcorp Hilton Hotel, Abuja.

Register now to be part of the conference: http://bit.ly/CIBN2024ABFC

Don’t miss out! Be part of the conversation for engaging, insightful discussions led by industry leaders.

Find us on Guardian Newspaper today, Page 16

Classification of businesses in Nigeria based on turnover
Before 2020, Nigerian businesses were classified by the Federal government based on their number of employees, assets base, and turnover. However, this has changed. Businesses in Nigeria are now classified based on turnover. In this article, we explained this in detail.
Read: https://www.accountingwired.com/2024/08/classification-of-businesses-in-nigeria-base-on-turnover.html

Attestation In auditing explained
The term attestation signifies agreeing to the accuracy of a set of data as a result of an expected knowledge of the subject matter. Attestation is an aspect of assurance services. It provides a means to verify if certain information prepared internally can be relied on.
Read: https://www.accountingwired.com/2024/08/attestation-in-auditing-explained.html

Statutory and voluntary audits explained
Auditing can be done voluntarily. This means that the entity's management is not mandated to engage an external auditor. However, an audit might be mandatory. In this case, certain laws or statutes request for it to be done. In this article, we differentiate statutory from voluntary audits.
Read: http://www.accountingwired.com/2024/08/statutory-and-voluntary-audits-explained.html