Tutor profile: Lara P.
Subject: Human Geography
What is geography?
Geography is the study of space and our interaction with space.
What is the most important finance statement and why? Income statement, Cashflow statement or the balance sheet
Income statement only looks at the profit and loss over a set period and the balance sheet is only the company performance one day. A company make make a loss but still be liquid. Cash is what keeps a company going as it allows them to make product to sell and get revenue in.
Under FRS 102 is Goodwill amortised?
Yes under FRS 102 goodwill is amortised but under IFRS it is not. This has a tax benefit for goodwill before 2015 under the current rules in 2021
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