Accounting Awareness Feature - Concluding Part: Reni Ayinde's ICAN journey

Hi everyone, trust you enjoyed the first part! Here is the concluding part.

Do read, share & be inspired.


PART 2
PE 1 (May 2011- November 2012)

So it was time to take the first stage of the Professional examination (PE1). I was helping out in church on campus while waiting for NYSC posting and convocation ceremony. Studying for the May 2011 diet was not fun, the initial drive I had during ATS was gone. I was disappointed, yes! Because that was not the plan! With the initial plan, I would be chattered by first semester 400level. It was taking way too long than I had anticipated! I was tempted at different times to ditch the whole thing jare! But somehow, I managed to drag myself through.

Accounting Awareness Feature - Reni Ayinde's ICAN journey

Hi everyone!
In contrast to our usual discussion of accounting standards. We have an amazing feature to inspire everyone of us especially those writing ICAN, ACCA or other professional exams.

Please read, share & be inspired! (Post Below!)

I remember November 2006 so well. Gaining admission into OAU was in all wise a feat. But no! I was not in the party of those who would rest on their oars. “I need to start my professional exam ASAP!” I thought to myself. As per serious girl things now, I had it all planned - I would start with the Accountant Technician’s Scheme (ATS) which required only my O level result to register. And on acquiring the ATS certification, I would apply for the professional ICAN exam. Preparing for the ATS exam would equally help my school work (or so I thought), I would be more serious (an idle mind is the devil's workshop) and by first semester 400 level I would have fulfilled the dream I had as a little girl, I would be a Chartered Accountant.
I found out all about ATS/ICAN and gave my dad all the details, I went to ICAN office to get the form for registration, got my books and started reading. My dad was amazed!

Accounting Awareness Features

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Adjust or Not? - IAS 10: Events after the Reporting Period

Hi everyone!
Wishing you a happy new month filled with happiness & God's blessings.

We shall study a simple & interesting standard today, IAS 10 - events after the reporting period.

Every company has a reporting date i.e the financial year end which it prepares its financial statements to. There is also, another day, on which management authorizes or approves these financial statements.

Sometimes, after preparing the financial statements, certain events still occur before the prepared statements are authorized by management. What do you do about such events? Do you go back to adjust these events or not?