• In Auditing and Accounting
• Posted February 22, 2023

BOOK KEEPING

• In Auditing and Accounting
• Posted October 31, 2023

How to become an accountant in Uganda?

 Professional accountants in Uganda are regulated by the Institute of Certified Public Accountants of Uganda (ICPAU), originally established under the Accountants Act1992. The Accountants Act 1992 was repealed and replaced with the Accountants Act 2013 and Accountants Regulations 2016 to amend and consolidate regulations relating to professional accountants. The Institute confers the designations of Certified Public Accountant (CPA), Accounting Technician (AT),...

• In Auditing and Accounting
• Posted February 24, 2023

BOOKKEEPING AND ITS RELEVANCE TO YOUR BUSINESS.

It’s important for businesses, small or big to have a proper bookkeeping mechanism in place. Just like you need a source of data to prepare a report so is bookkeeping a source that gets summarized into the financial statements you have come across. Bookkeeping tracks and records all the financial transactions and it becomes the starting point of accounting. Hence “No bookkeeping = No accounting.” The following are the importance of bookkeeping: Bookkeeping helps t...

• In Auditing and Accounting
• Posted November 30, 2021

ACCOUNTING AND ITS PRINCIPLES

Financial accounting refers to the classification, measurement, recording and communication of financial transactions of a business entity in monetary terms and in accordance with the generally accepted accounting principles to the internal and external users of accounting information. There are a number of principles that govern financial accounting and these include the following.1.Principle of business entity; this principle emphasizes that matters of financial transactions of the business sh...