General Accounting Tips

  • Understanding the Value of an Audit Trail in a Sound Business System

    A computerized system generates various sets of data, which owners and managers use for business analysis. However, one must also comprehend the value of traceability of transactions, since it serves as an indicator of data integrity and accuracy, especially...
    By ciel s cantoria July 25, 2011 

  • Generally Accepted Accounting Principles for Cost Capitalization

    One of the key differences between IFRS and U.S. GAAP recording and reporting procedures relates to the recognition of capitalized expenditures. We’ll take a deeper look at the applicable GAAP rules and principles in order to see why many believe...
    By ciel s cantoria June 29, 2011 

  • Is IFRS SEC Reporting Appropriate?

    Starting with fiscal years ending after November 2007, the SEC stopped requiring a reconciliation to US GAAP income for companies reporting using IFRS (International Financial Reporting Standards)., Is this a good thing or a bad thing?
    By Meg C. June 16, 2011 


  • Creating the Capitalization Policies for the Fixed Assets of a Corporation

    Capitalization policies for fixed assets of a corporation are essential for a company's property acquisition, management & disposition. They provide a set of guidelines that ensure consistency & uniformity in accounting for the company's...
    By ciel s cantoria June 9, 2011 

  • Using Horizontal with Vertical Analysis to Provide a Larger Financial Picture

    How do the financial analysts look at a company when trying to find good investments? Find out how horizontal and vertical analyses fit into financial statement analysis to help a reader understand a company's past, present, and possible future...
    By Bruce Tintelnot June 4, 2011 

  • Forensic Accounting and Its Importance in Fraud Detection

    Exactly what is forensic accounting? Discover a more exciting facet of a job considered by many as monotonously clerical and automated. In order to explain the tasks performed by forensic accountants, one must first understand the roles they assume...
    By ciel s cantoria June 4, 2011 


  • Calculate Vehicle Costs with Ease for Your Tax Purposes

    If you utilize a vehicle for your business traveling, how do you determine which expenses you can use as a true expense for tax purposes? The IRS does have some rules on this--and here, Jean Scheid offers some simple explanations.
    By Jean Scheid June 4, 2011 

  • Walking Through an Example of a Horizontal Analysis

    By stepping through an example of horizontal analysis, it is possible to see the purpose and benefits of this financial tool. Learn what to compare, what you can decipher and where to find the best data.
    By Peter Hann June 2, 2011 

  • Accounting Forecasting Tips for Seasonal Firms

    Is your company seasonal? If so, if you only guesstimate on sales and have no understanding of what accounting forecasting for season firms is as far as planning, marketing, and hiring employees—Jean Scheid offers up some tips to help keep you...
    By Jean Scheid June 2, 2011 

  • What Is an Accrued Expense?

    What is an Accrued Expense? “The financial statements are almost finished, Sir,” declares Miss Ballesteros, the secretary. “But there are some accrued expenses that are still computed by one of the clerks." This article utilizes...
    By madel57 June 1, 2011 
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