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Accounting is an enormous and complicated industry. Although it has thousands of rules, there are some fundamentals that form...
Accounting is an enormous and complicated industry. Although it has thousands of rules, there are some fundamentals that form the very core of accounting. Understanding these concepts will not suddenly make someone an accountant, but it is helpful for people who are interested in accounting or plan to pursue...
It is not really possible to run a business or a government agency properly without an effective auditing process. This is...
It is not really possible to run a business or a government agency properly without an effective auditing process. This is because an auditor is a professional whose job includes making sure that the financial records of a company are in good shape. Based on the foregoing, it is clear that the right auditing...
The basic definition of depreciation is the decrease in value of property or assets. The decrease in value can be due to aging,...
The basic definition of depreciation is the decrease in value of property or assets. The decrease in value can be due to aging, wear and tear, or obsolescence. When a company buys a new machine, vehicle or building, its depreciation is calculated based on its useful life. There are many methods of calculating...
SOX compliance refers to the Sarbanes-Oxley Act of 2002, enacted into federal law by the United States Congress as a reaction...
SOX compliance refers to the Sarbanes-Oxley Act of 2002, enacted into federal law by the United States Congress as a reaction to corporate accounting scandals. The most notorious of these was the bankruptcy of Enron in 2001. Many of Enron's stock holders lost their fortunes after investing heavily when the...