Accounting has been hailed by many as the “language of business”. There are many quotations like “A pen is mightier...
Read moreOne can never really understand a subject, unless they know where it came from. Therefore, a short history of the...
Read moreEvery activity that a business firm does must be done for a reason and accounting is no exception. Accounting helps...
Read moreAlthough accounting may be heralded as being the language of the business, it is definitely not error-free. This has been...
Read moreFinancial reporting is used by a wide variety of users for a wide variety of purposes. For this reason it...
Read moreThe entity concept is one of the central tenets of accounting. An understanding of the same is therefore of paramount...
Read moreBusinesses may all look the same when you look at the building in which they operate, the employees they hire...
Read moreThe entity concept separates the concerns of the owners from the business. An extension of the same concept is the...
Read moreDebits and credits are the building blocks of the double entry accounting system. Many accounting students find the usage of...
Read moreWhile the system of debit and credit is the foundation for maintaining balance and accuracy, it can often feel overwhelming...
Read moreFollowing are the basic fundamental principles of Accounting: Monetary Unit Accounting needs all values to be recorded in terms of...
Read moreCash Basis of Accounting Cash Basis of Accounting uses receipts and payments of cash to record incomes and expenses. Therefore,...
Read moreWhat is Single Entry System ? Single entry accounting systems record only one side of every transaction. This happens because...
Read moreThe double entry system of bookkeeping is said to have revolutionized growth in modern business. It is only because businesses...
Read moreNeed for a Uniform and Common Theory of Accounting The frequent attempts by experts and professionals on having a “theory”...
Read moreCreative Accounting and the Need for a Theory of Accounting The rise of “creative accounting” practices, an euphemism for hiding...
Read moreContracts govern all transactions whether they are between firms or between firms and private individuals. Indeed, in most of the...
Read moreCreating the maximum possible shareholder value had always been the cornerstone of capitalism. All economic theories had always been aimed...
Read moreFinance as a force for good Even before the 2008 global financial meltdown, finance worldwide was not exactly successful at...
Read moreStakeholders all over the world are concerned about the irreversible damage being caused to the ecosystem of the earth. There...
Read moreAmerica is a developed country and an inclusive society. It should ideally no longer face the problems of racism and...
Read moreUniversal childcare is amongst the latest of government-funded programs which several Senators across America have started demanding. For instance, Senator...
Read morePresident Ronald Raegan had once famously said that “Big government is not the solution to the problem. In fact, big...
Read more