CONSULTING SERVICES Definition

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CONSULTING SERVICES performed by CPAs include consultations, advisory services,
implementation services, product services, transaction services, and staff and support services.

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FRS 11 sets out the principles and methodology for accounting for impairments of fixed assets and goodwill. It replaces the previous approach whereby diminutions in value were recognized only if they were regarded as permanent. Instead, the carrying amount of an asset is compared with its recoverable amount and, if the carrying amount is higher, the asset is written down.

CREDIT CARD is a card authorizing purchases on credit at a predetermined interest rate and payment conditions.

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