This article defines a transaction, and explains how transactions are identified and analyzed in accounting. It includes a transaction analysis chart that helps the reader to determine whether a statement or event qualifies as a transaction to be recorded.
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.
That's why I wrote this friendly advice to all the Filipino moms out there who are still planning to enroll their kids in an Accountancy program and experience the life of an accountant. If you're a current mom or a mom-to-be, tell your kid to stay away from an accounting course.
Valuation of a small or medium-sized service business can be difficult for non-finance professionals. In this article, we cover some very basic valuation methods for business owners to use in valuing their current business or when considering an acquisition.
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.
Audits aren't just about ticking boxes—a lot of different skills are needed to conduct them properly. One of the biggest skill sets you need are soft skills which can help make your audit results stronger
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...