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Hi
Is it possible that you could provide a definition of offsetting and how it relates to Laima in example 1. I found one on Google but I am not sure this is what you meant?..
https://www.ehow.com/info_12009940_offsetting-accounting.html
Interest paid $800, interest received $650
We should show both rather than showing only interest paid of the net amount $150
Ok?
Yes I found the definition in the answers to the examples on page 151,the expenses and assets should not be offset against revenues and liabilities. Your answer makes sense in this context.
Mark should I really have a study text to fully understand the first 5 chapters?No, you could check out anything in greater depth by looking on google.
A study text has it all but it’s an expensive way to read about isolated topics in depth
Thanks. I agree. I have got all the definitions in chapter 2 for the qualitive characteristics of the conceptual framework on Google, I will just print them out 😉
That’s the idea! But there are occasions when a study text can be a comfort – just occasionally the Internet articles are so many that a condensed version such as that in a study text can save a lot of time
You choice!
Point noted, I did spend ages searching for the articles and putting them together, but at least I am not at the mercy of one author who put together a text. I am embracing the openness of this new system!
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