For many accounting students, forensic accounting is an attractive profession. With all the high-profile corporate scandals, forensic accountants are a hot commodity. Becoming a forensic accountant isn’t as difficult as you might think. There are many different certifications that can help you establish yourself as a forensic accountant. I would like to focus on three ...
If you find this article helpful, you may wish to read the article by titled An Overview of Management Accounting. Introduction Financial accounting and management accounting both prepare and analyze financial data. However, certain aspects of these two fields are very different. This article discusses the various differences between financial accounting and management accounting. The ...
“The accounting cycle is the sequence of procedures used to keep track of what has happened in the business and to report the financial effect of those things” (Service Automation, Inc., n.d., para. 1). In addition, the accounting cycle is designed to trace every transaction that causes the trade of one asset for another between ...
In simple terms, accounting is where the expenses and revenues are recorded on the balance sheet. There are two different ways to do this. The first is cash accounting where nothing is recorded until the money actually is exchanged. For example, if a sale is made, the revenues are not recorded until after the customer ...
You are about done with your undergraduate degree in accounting. You know you love numbers and people, but you really don’t know what type of career path you want. You would like to make sure you are paid a competitive wage, and that you have an edge on your competition. The best way to gain ...
The two main methods of recording accounting transactions are cash basis accounting and accrual basis accounting. Each method has both advantages and disadvantages. However, only one method is approved by GAAP. Cash Basis Accounting Cash basis accounting is the method in which cash receipts and cash payments are recorded during the period in which they ...
In the world of financial economics, the broad spectrum of opportunities that lie ahead for those who venture into careers in the field, those with better qualifications are more likely to succeed among a roster of aspiring applicants. In accounting, people find themselves choosing between numbers of job functions. Some work as a general accountant ...
As a writer and online business owner since 2006, it has been very beneficial to my bottom line for me to fully understand managerial accounting. Discovering these five key features to managerial accounting has saved me time and money. I first discovered these keys in an accounting course while attending Kaplan University online. If you ...
Accounting concepts and conventions as used in accountancy are the rules and guidelines by which the accountant lives. The historical cost accounting convention is an accounting technique that values an asset for balance sheet purposes at the price paid for the asset at the time of its acquisition. The historical cost accounting is the situation ...
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