From an accounting perspective, it’s hard to justify having a company mission. They’re hard to value and viewed as dubious by many managers. However, there are three reasons why having a mission is important for some firms. Company missions are covered in the ACCA P3 Business Analysis course.
Not all companies engage in strategic planning, some of them view it as an unnecessary distraction from day-to-day activities. This type of unplanned strategy is called ’emergent strategy’. Most companies recognise the benefits of strategic planning, so what are they?
What is a Business Combination?
A Business Combination is a “transaction or other event in which an acquirer obtains control of one or more businesses”. IFRS 3 Business Combinations states how an acquirer should recognise and measure the acquisition of another business, and the recognition and measurement of any goodwill.
When studying IAS 11 Construction Contracts, you can split the topic into seven key areas:
1. Definition of a construction contract
A construction contract is a contract specifically negotiated for the design, manufacture or construction of:
- a single asset such as a bridge, building or road, or
- a number of related assets. For example, a large factory may have different components
CAP2 Financial Reporting isn’t a subject that many visual learners find easy. Read through these mind maps alongside your current textbook and notes, and use the combination of both your own notes and mind maps to visualise the study material.
If you’re studying IAS 23 Borrowing Costs, why not test your knowledge with our multiple choice quiz? Click here to take the quiz. By practicing questions you’ll improve your study and recall, ideal for people who learn best by ‘doing’ rather than just reading.
If you’re studying IAS 10 Events After the Reporting Period, why not test your knowledge with our multiple choice quiz? This is available by clicking here. By practicing questions you’ll improve your study and recall, ideal for people who learn best by ‘doing’ rather than just reading.
There are a few key concepts underpinning good corporate governance in an organisation. Here are a few of them you should know.
Public Sector organisations are different to private organisations as there can be a number of different stakeholders involved. For example, they may report and be held accountable to senior civil servants, who run the organisation and oversee its goals. They may also be accountable to the politicians, who these civil servants report to. Ultimately, they are accountable to the electorate, who vote the politicians into office.