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Tutor profile: Lara P.

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Lara P.
Chartered Accountant with degree in Geography
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Questions

Subject: Human Geography

TutorMe
Question:

What is geography?

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Lara P.
Answer:

Geography is the study of space and our interaction with space.

Subject: Finance

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Question:

What is the most important finance statement and why? Income statement, Cashflow statement or the balance sheet

Inactive
Lara P.
Answer:

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.

Subject: Accounting

TutorMe
Question:

Under FRS 102 is Goodwill amortised?

Inactive
Lara P.
Answer:

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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