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Posted on 22 janvier 2025 by Isabelle de Botton on Bookkeeping

Current Portion of Long-Term Debt CPLTD

Long-term liabilities include loans or other financial obligations that have a repayment schedule lasting over a year. Eventually, as the payments on long-term debts come due, these debts become current debts, and the company’s accountant records them as the CPLTD. Current liabilities are those a company incurs and pays within the current year, such as […]

Posted on 16 décembre 2024 by Isabelle de Botton on Bookkeeping

Materiality Threshold in Audits: Decoding the 5% Rule

This type of materiality acts as a buffer, providing an additional layer of assurance that the financial statements are free from material misstatements. Performance materiality is particularly useful in complex audits where the risk of multiple small misstatements accumulating to a material level is higher. By setting a lower threshold, auditors can perform more detailed […]