Essays on Accounting

Mrs. Townlian Accounting January 19 Accounting is planning, analyzing, and interpreting financial information. Or less commonly known as the art of recording, classifying, summarizing, in a remarkable way, in terms of money, transactions, and events usually of financial classification (“Users Of Accounting”). Accounting allows those...

Money is very important in our everyday lives as it is the reason why most humans work hard to gain in order to maintain a stable or a good lifestyle. Throughout the years accounting has been the main role to new start-up businesses or running...

There are many languages in the world, but one language can be recognised by all and that is the language of digits. From time to money everything is the game of numbers and digits. Throughout my study years I have been attracted to numbers. Not...

“A dream does not become reality through magic; it takes sweat, determination and hard work”-Colin Luther Powel Throughout my life, I have dreams that push me to do my best and make me feel to do more. My journey began with getting a gold medal...

The Accounting Cycle is a combination of processes that occurs at various periods throughout a designated time period. The time period can be weekly, monthly, quarterly, semi-annually, or annually, based on the needs of the organization or company for which the accounting cycle is being...

American Accounting Association describes depreciation as, ” Any decline in the service potential of plant and other long term assets should be recognized in the accounts in the periods in which such decline occurs. The service potential of assets may decline because of gradual or...

Many businesses around the world fail to realize the importance of working with accounting services Dubai. As a matter of fact, many owners want to take a more engaged and hands-on approach, leading them to neglect the role these professionals play in their company. However,...

Nonperforming credits is regular wonders for managing an account industry in Bangladesh. A Non-performing advance is a credit that is in default or near being in default. Numerous credits move toward becoming non-performing in the wake of being in default for 90 days, yet this...

Introduction Recent corporate financial accounting scandals like WorldCom, Global Crossing, Tyco, Enron and many others have increased concerns about fraud globally, cost shareholders billions of dollars in value, and led to the corrosion of investor confidence in financial markets Peterson and Buckhoff (2004); Hogan, Rezaee,...

In context of corporate governance, there are two vital elements that needed to be maintained in order to ensure efficiency and transparency of organizational operations. These two elements are accountability and performance. Shareholder’s confidence is enhanced by good corporate governance practices. Thus, Good corporate governance...

Accounting is a system by which financial information is identified, recorded, analysed, summarized, and reported for the use of decision makers. Put simply, accounting is the language of business. An accounting system tracks down all the financial activities of an organization (whether it’s the great...

WorldCom was a large telecom company in the United States that enjoyed an almost meteoric rise during the 1990s but later ran into trouble in the early 2000s, particularly 2001 was difficult. This case gives future generations of accountants the opportunity to study the largest...

Today fraud is more sophisticated and devastating than it was ever before. In recent years, the complicated nature of current racketeering and anti-graft laws as well as regimes especially addressing accounting transparency, has driven the growth of forensic accounting worldwide. Though a niche field, the...

Basically there is an act based on business registration. According to that act law governing partnership in Sri Lanka is English law which consists of Partnership Act of 1890. As per the Act a partnership is the relations which subsist between persons carrying on a...

Coming from a family of Accounting and Finance professionals, I have learned early in life the importance of money management, as well as maintaining a well-balanced life; thus I believe that ‘Life itself is like accounting, everything must be balanced’. From a young age, I...

TeamMate Analytics The data analytics program TeamMate Analytics is an auditing software tool designed to streamline effective and efficient internal and external audits. TeamMate Analytics software is used in over 70 countries across the globe and serves more than 100,000 auditors and 2,500 organizations ranging...

There are 7 types of accounting which is government accounting, forensic accounting, cost accounting, auditing, tax accountant, financial accounting and management accounting. Government accounting or also known as public sector accounting, refers to the type of accounting information system used in the public sector. Government...

On the backdrop of high profile accounting frauds and misstatements, Sarbanes – Oxley Act (SOX) was introduced in 2002 with an intended goal to make corporate accounting more transparent. Security Exchange Commission (SEC) was handed the enforcement responsibility and a new oversight body was formed...

Career development plans are very important when it comes to a successful career. If you are an accounting clerk, your career development goals can be quite specific because in this type of job, you need to have a mind for details and numbers and it...