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Is dividends included in Statement of Financial Position?

Paying the dividends reduces the amount of retained earnings stated in the balance sheet. Simply reserving cash for a future dividend payment has no net i...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

What is accounting Harmonisation?

Harmonisation is a process of increasing the compatibility of accounting practices by fixing the limits to their degree of variation. Harmonisation carrie...

Do I charge HST on rental income?

Long-term residential rentals are exempt from GST/HST. If short-term rental revenues (plus income from any other commercial activity you may have) exceed ...

Can you lose your house with a HELOC?

In a true financial emergency, a home equity line of credit (HELOC) can be a source of lower interest cash compared to other sources, such as credit cards...

How is activity based management implemented?

First, identify and enhance value-added activities. Then, identify and eliminate or reduce non-value-added activities. Finally, redesign the company’s ope...

How much tax will I pay if I cash in my 401k?

10% If you withdraw funds early from a 401(k), you will be charged a 10% penalty tax plus your income tax rate on the amount you withdraw. In short, if yo...

What is pay via imps?

Immediate Payment Service helps you to send or receive money instantly using your federal bank account and your mobile number along with a 7 digit MMID (M...

How many houses burned down in 2019?

Trend Trend Fires 1,291,500 in 2019 -3.2% from 2010 Deaths 3,704 in 2019 +24.1% from 2010 Injuries 16,600 in 2019 -12.5% from 2010 $ Loss $14.8 billion in...

Do accountants prepare financial statements?

The accountant can prepare financial statements as directed by management or those charged with governance. The financials should be prepared using an acc...

How is FD calculated?

It is calculated by multiplying the principal, rate of interest and the time period. The formula for Simple Interest (SI) is “principal x rate of interest...