The functional currency is the currency of the primary economic environment in which the entity operates. Foreign currency transactions are fixed in a currency other than the functional currency. They are recorded at the exchange rate in effect on the date the transaction was initially recognized. Transaction gains and losses resulting from a change in […]
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As any business grows, the need for a solid finance planning and analysis (FP&A) team increases. A strong FP&A team helps the business measure and forecast its performance for both short and long-term goals. CEOs rely heavily on the advice and analysis provided by their FP&A team, which is why they need to have the […]
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Sustainable Finance Sustainable finance involves taking environmental, social and governance (ESG) considerations into account when making investment decisions in order to provide sustainability benefits for organisations, communities, and the world as a whole. Here is an introduction to sustainable finance, including how to implement sustainability criteria in your organisation’s investment appraisal process. Finance as a […]
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Wealth management and investment are two pillars for anyone looking for harmony of wealth and financial growth. Wealth management is a comprehensive approach to financial planning that takes into account your individual goals and circumstances along with the strategies used to protect, grow and transfer your wealth. Investment is a means of achieving the goals […]
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Financial modeling is an invaluable tool for businesses, providing insight into their financial information and allowing them to make informed decisions. A successfully created financial model should provide the user with an understanding of the current financial structure of the business, as well as potential future scenarios. Key elements to a successful financial model The […]
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Data visualizations is the new way of presentation for financial professionals, accountants, and business analysts. As technology continues to rapidly expand, data visualizations and story-telling have become invaluable resources for understanding financial information. Unification and simplification of data Data visualizations unify data that a business is using and enable stakeholders to easily see the key […]
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Offering value through connection is a critical aspect of managing a team successfully. Through understanding how to connect with your team, motivate them, and engaging with them in an authentic manner, you can create a high top-notch environment that encourages high performance. People Business To engage with team members in an authentic manner, you must […]
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Derivatives A call (put) option is the right to purchase (sell) an asset at a fixed price (i.e., the exercise price or the strike price) on or before a future date (i.e., expiration date). A forward contract is an agreement for the purchase and sale of a stated amount of a commodity, foreign currency, or […]
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1. Governmental Funds Reporting Governmental funds emphasize sources, uses, and balances of current financial resources. Major vs. nonmajor fund reporting. The focus of governmental and enterprise fund financial statements is on major funds. Each major fund is presented in a separate column. The main operating fund (i.e., the general fund) is always reported as a […]
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The comprehensive annual financial report covers all funds and activities of the primary government and provides an overview of the discretely presented component units of the reporting entity. The comprehensive annual financial report includes introductory, financial, and statistical sections. The financial section includes management’s discussion and analysis (MD&A). MD&A is required supplementary information. It is […]
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