RECENT POSTS
Unexpected events are an inevitable part of life. Whether it’s a sudden illness, an accident, an economic recession, or any other emergency, having a financial emergency plan in place is important to protect yourself and your family from financial setbacks during difficult times. A financial contingency […]
The LIFO method, or “Last-In, First-Out,” is an accounting method used to calculate the value of a company’s inventory and determine the cost of goods sold. The International Financial Reporting Standards (IFRS) have banned the LIFO method (What is IFRS?). Following the LIFO method, the most […]
Since January 2019, the IASB (International Accounting Standards Board) has mandated a new standard regarding leasing, namely IFRS 16 (what is IFRS?). The biggest change of this new standard is that companies must include all lease and rental contracts on the balance sheet, as a right-of-use […]
Depreciation, as an entrepreneur you have a lot to do with it. Still, it’s a tricky-looking concept and there are a number of important rules that you should definitely know. Because: can you just write off everything? When is it allowed and when is it not […]
Hello and welcome to MeisterOfFinance.com! On this website I write informative blogs about Accounting, Finance and Business to provide you with any specific questions you might have on those topics. I myself have studied the BSc Business Administration and the MSc Accountancy & Control.
Disclaimer: Although I try my best to provide you with the best and most correct information, I can not guarantee the correctness of these blog posts. No rights and/or obligations can be derived.