Racing towards financial problems

The Cayman Track Limited, a governmental authority that runs the horseracing tracks in Jamaica, has come under the radar for its improper accounting practices. An audit was commissioned by the Ministry of Finance to look into the reasoning behind the entity getting...

To lease or not to lease

When a company leases a piece of equipment, it has two choices, either to report it on the Balance Sheet (capital lease) or not to report on Balance Sheet if it is an Operating Lease. The  International Accounting Standards Board (IASB) and America’s Financial...