A comprehensive guide to the 1099 Form, used to report various types of income other than wages, salaries, and tips.
An overview of the 1099-NEC form used for reporting nonemployee compensation in the United States, introduced in 2020 to simplify and distinguish it from other income types.
An introduction to double-entry bookkeeping in 1494 by Luca Pacioli with his publication 'Summa de arithmetica'
A Priori Theories of Accounting encompass the use of deductive reasoning to develop measurement and valuation systems based on certain axioms or assumptions, rather than empirical observation. The 1960s marked a significant period for a priori research in financial accounting.
An overview of the American Accounting Association, including its historical context, key events, importance, and related concepts in accounting and finance.
The AADB, or Accountancy and Actuarial Discipline Board, is the successor to the AIDB, with an expanded mandate that includes oversight of actuaries.
An in-depth look at the Accountancy and Actuarial Discipline Board (AADB), its role, history, and relevance in the fields of accountancy and actuarial science.
A comprehensive look into the Association of Authorized Public Accountants (AAPA), including its history, types of membership, key events, importance, applicability, and related terms.
An overview of the Association of Accounting Technicians (AAT), including its history, roles, importance, and related terms in the field of accounting.
Comprehensive guide to the Association of Accounting Technicians (AAT), including its historical context, categories, key events, importance, applicability, examples, and related terms.
A comprehensive article on the historical use, importance, and regulations surrounding abbreviated accounts for small companies.
An in-depth exploration of the ABC Method (Activity-Based Costing), covering its historical context, key concepts, detailed explanations, mathematical models, importance, examples, considerations, related terms, comparisons, and more.
In-depth exploration of abnormal loss in manufacturing or chemical processes, including its definitions, categories, implications, and management.
A comprehensive exploration of abnormal losses, their causes, types, and methods for management in various fields including economics, finance, and business.
Denoting entries printed above the horizontal line on a company's profit and loss account, separating profit (or loss) from entries showing profit distribution.
A comprehensive guide to Abridged Accounts under the EU Accounting Directive (2014), detailing its historical context, key aspects, and its significance for small companies.
Absorb refers to the assimilation or incorporation of amounts in an account or group of accounts, effectively blending them and causing them to lose their individual identity.
Absorbed overhead refers to the portion of an organization's overhead expenses that are charged to production during a specific accounting period when absorption costing is applied.
Absorption in accounting refers to the allocation of overhead costs to the production of an organization using absorption rates.
A comprehensive overview of absorption accounts in double-entry cost accounting systems, detailing their purpose, historical context, types, key events, and importance.
An in-depth analysis of Absorption Costing and Variable Costing, exploring their definitions, differences, uses, advantages, disadvantages, and impact on financial statements.
The absorption rate is a calculated rate used in absorption costing systems to allocate overhead costs to production. This article explains the types, formulas, historical context, importance, and differences from activity-based costing.
An in-depth exploration of abstracts, their types, historical context, significance, key models, and their role in various fields.
The ACA qualification stands for Associate of the Institute of Chartered Accountants in England and Wales, a prestigious certification for professionals in the accounting field. This article delves into the historical context, types of certifications, key events, detailed explanations, and much more about ACA.
ACCA is a leading global body for professional accountants, offering internationally recognized qualifications.
ACCA stands for the Association of Chartered Certified Accountants, a global professional accounting body offering the Chartered Certified Accountant qualification.
A comprehensive guide to the Accelerated Cost Recovery System (ACRS), an accounting method for asset depreciation in the United States.
ACRS is a method introduced in the 1980s in the United States for faster asset depreciation, allowing businesses to write off capital investments at a quicker rate.
Accelerated depreciation is a method to depreciate assets at a faster rate than the standard useful-life basis, often used for tax advantages and to reflect the rapid obsolescence of assets.
A detailed look into the concept of 'Account,' encompassing its various meanings and applications in finance, banking, and accounting.
A detailed explanation of account codes, their historical context, types, key events, importance, and applicability in financial accounting, along with examples, related terms, FAQs, and more.
An in-depth look at Accounts Receivable, its significance in business, and its role in financial statements.
Account Receivables are money owed to a company by its customers for goods or services delivered. They play a crucial role in a company's financial health by reflecting future cash flows.
Account Reconciliation is a crucial financial procedure to confirm that the balance in a chequebook matches the corresponding bank statement and ensures the reliability of a company's accounting records.
An in-depth exploration of the types, purposes, and significance of financial accounts, from personal bank accounts to national income statements.
An accountable plan is an IRS-compliant arrangement wherein employer reimbursements for expenses are excluded from an employee's income, provided they meet specific requirements.
The Accountancy and Actuarial Discipline Board (AADB) is the UK body responsible for investigating cases of alleged misconduct by members of the accounting and actuarial professions that raise issues of public concern.
An in-depth look into the Accountancy and Actuarial Discipline Board (AADB), its historical context, functions, importance, and impact on professional standards.
Accountancy bodies are organizations established globally to regulate the activities of accountants. Members typically use titles such as chartered accountant, chartered certified accountant, or certified public accountant. These bodies control membership through examinations and enforce compliance with professional regulations.
The Accountancy Investigation and Discipline Board (AIDB) was the predecessor of the Accountancy and Actuarial Discipline Board (AADB). It played a significant role in maintaining and enforcing standards within the UK accounting profession.
An accountants' report is a comprehensive financial document prepared by accountants, mandated by the London Stock Exchange to be included in a company’s prospectus, providing critical financial insights to potential investors.
The Accounting and Finance Association of Australia and New Zealand (AFAANZ) is a professional association representing the interests of finance and accounting educators and professionals, formed in 2002 through the merger of AAANZ and AAUTA.
The Accounting and Financial Women's Alliance (AFWA) aims to promote women's advancement in accounting and finance through education, networking, and publicity.
A comprehensive overview of the Accounting and Tax Index, including its historical context, evolution, significance, and its transition to the online database ProQuest Accounting and Tax.
The methods used for applying fundamental accounting concepts to financial transactions and items when preparing financial statements. The particular bases adopted by an organization will form its accounting policies.
An in-depth exploration of accounting codes, their historical development, categorization, and crucial role in modern financial management systems.
Accounting concepts refer to the basic theoretical ideas that support accounting practices. These concepts ensure consistency, relevance, reliability, and understandability in financial reporting.
The Accounting Council advises the Financial Reporting Council on accounting and financial reporting policies. Established in 2012, it plays a significant role in the development of Financial Reporting Standards.
In the USA, the practice of making larger provisions for expenses in one year, in order to minimize them in future years. This effectively understates earnings in the present year but overstates them in subsequent years.
An in-depth look at the sequence of steps in accounting for a financial transaction, from initial recording to financial statement aggregation.
The accounting entity is the foundational concept in accounting, separating the financial records of a business from its owners or other entities. This article explores its historical context, types, key principles, examples, related terms, and more.
The accounting equation is a fundamental principle in financial accounting, representing the relationship between an entity's assets, liabilities, and owner's equity. It ensures that a company's balance sheet remains balanced and reflects the true financial position.
A comprehensive guide to the principles of morally right conduct in the accounting profession, highlighting the importance of integrity, objectivity, and professional competence.
An in-depth exploration of accounting events, including their significance, historical context, types, and practical applications in financial record-keeping.
A comprehensive analysis of accounting exposure, its types, key events, detailed explanations, formulas, and examples, providing an in-depth understanding of how exchange rate fluctuations can affect financial statements.
Accounting fraud involves the manipulation of financial statements to present a false picture of a company's financial health, leading to misinformation about the financial status of an organization.
Accounting Income is a traditional measure of income based on realized earnings and expenses, essential for financial reporting and economic decisions.
An in-depth exploration of what an accounting manual is, its importance, the structure, and examples of policies and procedures included.
An in-depth exploration of the accounting period, its types, and its importance in financial and management accounting.
An accounting period is a specific duration, typically a year, to which a set of company accounts pertains, used for financial reporting purposes.
A comprehensive accounting guide prevalent in European countries such as France and Spain. It includes definitions of accounting terms, rules for valuation and measurement, model financial statements, and a chart of accounts.
The specific accounting bases adopted and consistently followed by an organization in the preparation of its financial statements.
Comprehensive exploration of the fundamental concepts that underlie financial accounting practices, including historical context, key principles, examples, related terms, FAQs, and much more.
A comprehensive guide to accounting principles, their types, historical context, key concepts, and importance in financial reporting.
The Accounting Principles Board (APB) was a crucial body established by the American Institute of Certified Public Accountants (AICPA) in 1959 to enhance accounting standards in the USA. It was the forerunner of the Financial Accounting Standards Board (FASB).
A detailed explanation of accounting profit, how it's calculated using generally accepted accounting principles (GAAP), its theoretical and practical problems, and its significance in financial reporting.
Understanding Accounting Profit: Definition, Calculation, Importance, and More
An in-depth look at Accounting Rate of Return (ARR), including its definition, historical context, variations, importance, applicability, and more.
A comprehensive guide on accounting ratios, their historical context, types, importance, examples, and much more.
An in-depth look at accounting records, their historical context, categories, importance, applicability, and examples, along with related terms and FAQs.
An in-depth look at the Accounting Reference Date (ARD), its significance, and implications for companies.
Comprehensive exploration into the study of accounting practices, principles, and theories, delving into historical context, methodologies, key events, and practical applications.
Detailed exploration of Accounting Series Releases (ASRs), their historical significance, and their evolution into Financial Reporting Releases (FRRs) in the USA.
Accounting standards are authoritative standards for financial accounting and reporting, such as the Financial Reporting Standards issued by the Financial Reporting Council in the UK or the International Financial Reporting Standards issued by the International Accounting Standards Board. In the USA, the responsibility falls on the Financial Accounting Standards Board. These standards provide rules and procedures for the measurement, valuation, and disclosure of accounting transactions.
Accounting Standards are a set of principles and guidelines that guide financial reporting to ensure consistency, transparency, and integrity. They are set by authoritative bodies to dictate how financial transactions should be recorded and reported.
An in-depth look at the Accounting Standards Board (ASB), its history, functions, key developments, and its eventual transition into the Financial Reporting Council.
The UK body responsible for the creation and issuance of accounting standards before its merger into the FRC. The successor to the ASC and predecessor to the Accounting Council.
An in-depth look at the Accounting Standards Committee, its formation, evolution, and contributions to financial reporting and accounting standards in the UK.
The Accounting Standards Committee (ASC) was an organization that played a crucial role in the development and issuance of accounting standards in the United Kingdom until it was replaced by the Accounting Standards Board (ASB).
A formal issuance of a finalized standard by the Financial Accounting Standards Board.
An in-depth exploration of Accounting Systems, their historical context, types, key events, detailed explanations, and practical applications.
An in-depth exploration of the role and significance of Accounting Technicians, including historical context, key duties, qualifications, and related terms.
An in-depth exploration of the Accounting Year, its implications, types, and significance in financial reporting.
An in-depth look at accounts, encompassing definitions, historical context, types, key events, mathematical formulas, and more.
Accounts payable, often known as trade payables, are short-term liabilities representing money owed by a business to its suppliers for goods and services received but not yet paid for.
An in-depth examination of Accounts Payable, its role in business finance, historical context, and implications for companies.
Accounts Receivable, or Trade Receivables, refers to the outstanding invoices a company has or the money clients owe the company for products or services provided on credit.
Accounts Receivable represents the outstanding invoices or money owed to a firm by its customers. This article provides an in-depth analysis of its historical context, types, key events, and more.
The Accounts Receivable Collection Period measures the average number of days it takes a company to collect payments from its credit sales.
Specific methods used to confirm the accuracy of accounts receivable balances, ensuring the correctness of a company's financial statements.
The Accounts Receivable Turnover Ratio evaluates how efficiently a company collects revenue from its customers by comparing net credit sales to average accounts receivable.
An in-depth look at accretion, explaining how the value of an asset can increase due to physical changes, and not merely due to market fluctuations. Covers historical context, types, key events, mathematical models, charts, applicability, and more.
Accrual accounting involves estimating liabilities not supported by invoices at the time accounts are prepared, crucial for reflecting accurate financial status.
An in-depth guide to understanding accrual accounting, including its definition, history, types, importance, applicability, examples, considerations, related terms, comparisons, interesting facts, and FAQs.
The accrual basis is an accounting method where revenue and expenses are recorded when they are earned or incurred, regardless of when cash transactions occur.
An in-depth look at accrual basis accounting, a method of recording revenues and expenses when they are incurred, irrespective of cash flow.
An in-depth look at the accrual basis of accounting, its historical context, key principles, importance, applicability, and related terms.
A deep dive into the concept of Accrual Basis Taxpayer, including its definition, types, considerations, examples, historical context, applicability, and related terms.
An in-depth explanation of the Accrual Concept in accounting, its historical context, applications, examples, and relevance in financial reporting.
An entry to record revenue or expense in the period it’s earned or incurred, even if cash transaction has not occurred yet.
