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In brief, a business acquisition, from the accounting standpoint, is a transaction in which both the acquiring and acquired company are still left standing as separate...
Inventory accounting is an important topic with complex issues that can causes confusion even to well-experienced accountants. But in this post, I focus on the most...
Learning accounting, the first time, is so much exciting. And it is suffice to say that, writing about it is also so much exciting to me....
Many purchase business combinations involve the recognition of goodwill. Except to those who follow every bit of accounting standard update, talking about accounting for goodwill today...
Professional literature of the accounting for marketable investments in debt securities isn’t easy to find. The only principle guidance that could be found, so far, is...
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...
The costs associated with the development of a project are accounted in different ways, depending on the nature of the costs and the stage of the...
A Board of Directors of a company is supposed to represent the shareholders prevent the company from using deceptive accounting tactics that mislead investors. Any board...
Here are list of acronyms that commonly found in the accounting world A AAA – American Accounting Association AAOIFI – Accounting and Auditing Organization of Islamic...
The first standard of fieldwork of auditing requires adequate planning and proper supervision, but until SAS 22 was issued, the only observations on planning in the...
Many of you asked me for Business Forms, Calculators, Tools and Templates or anything that may help. Here I post some. This is by no mean...
This accounting glossary is not a general accounting dictionary that you can find any terms and definitions from abaccus system to african tze-tze mosquitoz. But it...
Before any meaningful discussion of the Lean’s effect to the accounting, accountants, and chief financial officer (CFO) in a lean business can take place, we need...
ACCOUNT: 1. systematic arrangement showing the effect of transactions and other events on a specific balance sheet or income statement item. An account is usually expressed...
A basic principle of “financial accounting“ is that the cost of the long-term operating resources used by a business should be allocated over the years these...
Many of us still face doubt or even no idea in computing and recording pension transaction [so do I]. It is not because of we are...
In addition to an income statement [profit and loss account] and balance sheet, companies are required to include in their annual report a “cash flow statement“....
This post tackles two basic questions about “Analyzing Profit Behavior”: How did the business make its profit? How can the business improve its profit performance?. Business...