Category: Claims Journal
Generally Accepted Accounting Principles Vs. International Financial Reporting Standards
What is globalization? Globalization is the act of expanding to other or even all areas around the world from the country of origin. Much like its very broad definition, Globalization can be the basis for discussion for a wide-range of topics. To narrow down a bit, I will focus mainly on the Generally Accepted Accounting
What Are The Important Aspects in Accounting and Bookkeeping?
Accounting and bookkeeping starts right from the debit and credit. Debit and credits are the fundamentals of accounting. Without this debit and credit nothing can be accomplished in accounting. In simple words debit means expenditure and credit means revenue. Whenever an organization is making payments it means the organization is debiting some amount. Similarly when
Tax Accounting
Accounting is the recording, interpretation and reporting of financial transactions. Each and every business must keep proper record of all such transactions. There are several branches of accounting such as financial accounting, managerial accounting and tax accounting. Whether your business is a sole proprietorship, partnership or corporation, business men must file an income tax return
YouTube for the Accounting Firm Partner
YouTube is an online video sharing website that allows users to share and watch videos. Since its introduction in 2005, YouTube by way of a simple interface has provided everyone with a computer and internet connection the chance to put up a video that can be shared to a massive number of people around the
Cost Accounting: The Missing Component of Supply Chain Management
One of the first questions I ask our Warehouse Management students is, “Do you know your operating costs?”, and our Production Planning Management students, “Do you know the cost to produce one of your items?” After five years of training, I can count on one hand how many students were able to answer these questions,
Non-Profits Organization – Releases From Restrictions – Accounting
Accounting is usually boring and non-dramatic, except when accountants are faced with releases from restrictions when dealing with non-profits. This is when you see accounting types, such as CPAs and auditors, especially those with no non-profit background, laughing a bit too nervously. Blame it all on FASB 117! “Net assets released from restrictions” (NARFR) is
Five Reasons Why Businesses Should Hire Accountants
For many small-business owners, taxes are a point of stress. Changing guidelines and regulations can make the process of filing a difficult process for small-business owners, but hiring an experienced team of accountants can take the worry and stress out of tax season. Here are a few signs it’s time to hire an accountant. The
Random Facts About Forensic Accounting
With the many careers and jobs offered today, there is always a handful of careers that go by unnoticed or are belittled leaving society with very little information about it. When it comes to forensic accounting, there are many facts that you probably didn’t know about. For one, the forensics accounting department is one of
How Accounting Services Can Help a Small Business
Accounting services aren’t just for multi-million dollar corporations. From startups to established family businesses, using an accountant to keep track of income, expenses and taxes can help any company reach its potential. Here are five reasons for any business to consider outsourcing their bookkeeping to a premier accounting provider. 1. Free Up Employees A company
Importance of Forensic Accounting in Countries of Business Opacity: A Means to End Fraud
Introduction When hearing about Enron, Conrad Black, Kimberly Rogers or WorldCom, one will definitely think about theft, bribery and fraud. The key word here is “fraud”; where many studies have been conducted about this subject. What is fraud and how is it detected and dealt with, and how is it possible to be protected from