How to Identify and Analyze Transactions in Accounting
What is a transaction? How are transactions identified and analyzed in accounting? Includes a transaction analysis chart to help readers determine whether a statement or event qualifies as a transaction to be recorded.
The Accounting Cycle and the Accounting Process Explained
The accounting cycle and the accounting process are the guiding principles for accurate accounting. The accounting process normally involves nine steps that use different techniques, systems, and documents.
How Auditors Use Continuous Audit Techniques (CATs)
Continuous Audit Techniques are used by auditors to verify transactions in real-time. They are essential for auditing businesses that generate a huge volume of transactions over a short period. Here's what you need to know.
IFRS and GAAP Convergence: Why the US Resists International Reporting Standards
IFRS and GAAP convergence has been a big issue in the accounting world. Here are a few reasons why it won't be realized soon.
Managerial Accounting: Absorption, Variable & Throughput Costing
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.