Types of Audit Sampling

  Types of Audit Sampling The audit is the most critical function for any business to ascertain the reliability of its financial statements and other documents. Thus, most companies, whether small or big, get their financial statements and other activities audited by certified accountants or accounting firms.  The audited accounts create confidence in the investors, … Read more

Historical Cost Principle Definition – Methods

Historical Cost Principle Definition

  Overview Accounting ideas and traditions as utilized in bookkeeping are the standards and rules by which the bookkeeper lives. The historical cost accounting tradition is an accounting method that values an asset for monetary record purposes at the cost paid for the asset at the season of its obtaining.  Historical cost accounting is the circumstance … Read more

forensic investigation definition – In Detail

Forensic Investigation Definition  The forensic investigation covers a wide range of exercises, with wording not entirely characterized by administrative direction. By and large, the term ‘forensic bookkeeping’ is utilized to portray the wide scope of analytical work that bookkeepers could be approached to perform.   The work would ordinarily include an investigation into the financial … Read more

Income Tax Accounting – Meaning

What is the income tax accounting? The fundamental accounting for income tax is to perceive tax liabilities for estimated income taxes payable and decide the tax cost for the present period. Before diving further into the income taxes theme, we should clear up a few ideas that are basic to understanding the related income tax accounting. The … Read more

A Workplace Culture – Improvement

  Dominant Workplace Culture – Improvement Every company has a chain of experts in different divisions like operations, finance, technical, sales and more with different positions from top to bottom. The employees are both )male and female). Operations and finance departments are very common in every business to keep records of employees and their payments … Read more

Is Fidelity a Fiduciary (Definition and Usefulness)

   Is Fidelity a Fiduciary A fiduciary is an individual or firm going about as the money-related delegate of a trust, estate, conservatorship or guardianship. Trustees are committed to dealing with a customer’s money-related issues in a reasonable and moral way to secure the customer’s advantages, so a fiduciary should dependably act to the customer’s … Read more

Management Vs Financial Accounting

  Management Accounting vs. Finance Accounting Both the terms Financial Accounting and Management Accounting are a very important part of our accounting system and still serve entirely different purposes for an enterprise.  Financial accounting is very useful for owners, shareholders, investors, creditors, employees, financial institutions and tax authorities.   Balance sheets and Cash Flow Statements … Read more

What is the meaning of credit risk?

Overview Before giving credit to customers it is quite important to first do the Credit Risk Business Analyst. Numerous entrepreneurs put off making credit and gathering strategies until they completely have no other decision. As their client base forms and more and more customers need to pay by credit, they understand that they have to open up … Read more

What Does Money Laundering Mean – Examples, Preventions

  What Does Money Laundering Mean In the least difficult terms, money laundering includes the exchange of illegally acquired money into a legitimate establishment.  The money balance sheets, launderers are very clever as some of them make their financial statements like fund flow statements in such a manner that it does not come to the notice … Read more

How Managers Deal With Painful Conditions

  How Managers Deal With Painful Conditions Difficult Situations for Managers and how to deal with them are the most critical concerns for any organisation because even a single decision of the management can change the entire completion of financial position of an organisation.   It is, therefore, very important for any manager to deal with … Read more