Mirelle The carrying value of an asset is the value at which it is carried on the balance sheet. For example, if a company buys a machine for $1,000 and the expected life of the machine is 10 years, the carrying value of the machine would be $1,000. The company would depreciate the machine over its … Read more
The TT dollar is the official currency of Trinidad and Tobago. It is subdivided into 100 cents. The TT dollar was established on September 18, 1964, replacing the East Caribbean dollar. The currency is issued by the Central Bank of Trinidad and Tobago. Does Trinidad and Tobago use USD? Yes, Trinidad and Tobago uses USD … Read more
Why Financial Accounting Matters: Principles and Meanings Why do we need accounting rules? There are a number of reasons why we need accounting rules. One reason is that accounting rules provide guidance on how to record and report financial transactions. This is important because financial statements are used to make decisions about how to allocate … Read more
