Accounting

Basic Accounting Principles

Accounting has been defined as, by Professor of Accounting at the University of Michigan William A Paton as having one basic function: “facilitating the administration of economic activity. This function has two closely related phases: 1) measuring and arraying economic data; and 2) communicating the results of this process to interested parties.” As an example,(…)

What happened in corporate accounting scandals?

When a corporation deliberately conceals or skews information to appear healthy and successful to its shareholders, it has committed corporate or shareholder fraud. Corporate fraud may involve a few individuals or many, depending on the extent to which employees are informed of their company’s financial practices. Directors of corporations may fudge financial records or disguise(…)

Accounting Auditing Careers

Within the accountancy field, there are several career choices and that includes accounting auditing career. Auditors play a very important role especially in the business industry. They perform various tasks that are considered essential to the financial matters of any business. A present, there is a great demand for company auditors and according to the(…)

Accounting Principles

If everyone involved in the process of accounting followed their own system, or no system at all, there’s be no way to truly tell whether a company was profitable or not. Most companies follow what are called generally accepted accounting principles, or GAAP, and there are huge tomes in libraries and bookstores devoted to just(…)

Why Regulate Accounting?

Many people wonder why the idea to regulate accounting is becoming so popular. Due to past experiences with manipulating accounting figures, it is no wonder that accounting has been under so much scrutiny. This is the reason why so many people feel it is time to regulate accounting, due to so many companies not abiding(…)

Services in Financial Accounting

Offices and companies have various activities everyday and that includes accounting. Whether the company is private or government-owned, it still makes use of accounting. Companies, offices, and various organizations or institutions cannot operate successfully without an accounting staff. However, having an accounting staff can get very expensive and so most companies resort to auditing services(…)

Personal Accounting

If you have a checking account, of course you balance it periodically to account for any differences between what’s in your statement and what you wrote down for checks and deposits. Many people do it once a month when their statement is mailed to them, but with the advent of online banking, you can do(…)

List of Accounting Careers

Every year, different colleges and universities from all over the world produce graduates with different college degrees. It only means that every year, the unemployment rate increases and very few newly-grads land a job. It is very important to choose the college degree that youre going to take to ensure your professional career in the(…)