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What business people think about an account is, yes you’re right: number person. Okay that is quiet true. The second is a debit-credit person. The least...
Total goodwill impairment charges continued to fall sharply across a number of industries throughout 2010, and the number of companies recording goodwill impairment charges dropped by...
Standard costing is a method of setting targets and reporting divergences from them. That is in short words. The process to do it isn’t really that short....
Finally, after five years of debate IFRS and the US’s FASB have agreed on definition of ‘Fair Value’. Although it does not change what is measured...
Following the U.S. Securities and Exchange Commission’s increased focus on Chinese-based companies that trade on American stock markets, today (06/10/2011)’s headline at Bloomberg said that, the...
The treasury department occupies a central role in the finances of the modern corporation. It takes responsible for the company’s liquidity—ensures that a company has enough...
China Electric Motor said (On Wednesday) that its auditor, MaloneBailey, resigned over discrepancies in its bank records. It is one of many U.S.-listed Chinese companies with...
The Internal Revenue Service (IRS) awarded 4,257 individuals who claimed more than $151 million in undeserved tax deductions for 2009 stimulus package program designed to boost...
Around 10 millions taxpayers file their tax returns late or not at all every year, according to data gathered by Turbotax (Intuit). And, every year the...
As far as Accounting for ‘Operating Lease’ concern, under current FASB rules, a company can classify a lease as ‘operating lease’ if the lease period is...
Twelve corporations pay effective tax rate of negative 1.5% on $171 billion in profits; reap $62.4 billion in tax subsidies, and as a group, their federal...
It has been a question of many Accounting persons (particularly in the U.S.) whether the IASB’s funding sources are stable enough for it to truly be...
The auditor should restrict the use of a report when: (1) The subject matter or the presentation being reported on is based on measurement or disclosure...
Accounting literature says that the cost of an asset should include all the costs necessary to get the asset set up and functioning properly for its...
Until the announcement IAS 36, there had been a wide range of practices dealing with impairment recognition and measurement. Many jurisdictions—European at most—had statutory obligations to...
Basically, temporary differences are thus defined to include all differences between the tax and financial reporting bases of assets and liabilities, if those differences will result...
Guarantees are commonly encountered in the commercial world; these can range from guarantees of bank loans made as accommodations to business associates to negotiated arrangements made...
Well, I know. You landed here because of either you are an accountant or an accounting student. And, tracking corporate expenses must be easy for you—using...