Audits aren't just about ticking boxes, a lot different skills are need to conduct them properly. One of the biggest skill sets you need are soft skills which can help make your audit results stronger
IFRS and GAAP Convergence has been a big issue in the Accounting world. Here are a few reasons why it won't be realized any time soon.
The convergence between U.S. GAAP and IFRS will put an end to the LIFO method of inventory valuation. The result will be tax implications for many companies, but also a more accurate representation of costs.
Profit is the yard-stick for evaluating performance of any business concern. Since ultimate profit depends upon plan and control, cost accounting plays a vital role. Previously, cost accounting was mostly engaged in ascertaining costs of products or...
I list the pros and cons of whether we should tax the rich more, giving some of the key arguments made by different sides in the debate.
Over the years I got very used to family and friends telling me they had no idea what I do for a living. When I applied for audit roles at accounting firms they also didn't know where I fit!
Accounting is concerned with collecting, analysing and communicating economic information (Atrill & McLaney, 2004, p1). However in order to develop a broader understanding of accounting and the central role it plays in society, we need to consider...