A comprehensive guide to understanding the process of identifying, measuring, recording, and communicating economic transactions through financial statements and other methods.
Accounting involves recording, summarizing, and reporting financial transactions. This comprehensive guide covers historical context, types, key events, importance, and applicability.
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 EU Accounting Directive (2014) aims to simplify the disclosure requirements for small companies through the introduction of abridged accounts, with special rules for micro-entities. Incorporated into UK law in 2015, applicable to financial periods starting on or after 1 January 2016.
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 look at accounting packages, their functionalities, history, types, key events, and importance in business operations.
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.
Instances in which corporations have been found in serious breach of accounting ethics generally by falsifying or manipulating information so that financial statements do not give a true and fair view of the company's performance.
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.
The Accounts Modernization Directive is an EU directive established in 2003 that mandates companies to publish balanced and comprehensive analyses of their performance, including both financial and non-financial indicators.
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.
Accreditation is a formal certification process for meeting predetermined standards, often used interchangeably with recognition but may imply a more rigorous assessment.
An Accredited Estate Planner (AEP) specializes in estate planning, enhancing the value of estate plans with complementary knowledge and skills to those holding a Personal Financial Specialist (PFS) credential.
Accredited Investors are individuals or entities that meet specific financial criteria set by securities regulators, enabling them to invest in certain high-risk ventures such as private equity, hedge funds, and startups.
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 accrual bond is a type of bond where interest accrues over time instead of being paid out periodically, typically seen in zero-coupon bonds (also known as Z-Bonds).
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.
Comprehensive exploration of Accrual Rate, its historical context, types, key events, and relevance in the financial and pension sectors.
The accruals concept is a fundamental accounting principle that requires revenue and costs to be recognized as they are earned or incurred, not as money is received or paid. This concept ensures that income and expenses are matched with one another in the period they relate to.
A comprehensive guide to Accrued Benefits, focusing on defined-benefit pension schemes, calculation methods, accounting standards, and key considerations.
The Accrued Benefits Method is an actuarial method used in accounting for pension costs. It accounts for the actuarial value of liabilities relating to pension benefits for current and deferred pensioners and their dependants at a given date.
A comprehensive examination of accrued charges, including historical context, key events, explanations, mathematical formulas, and more.
An in-depth look at accrued expenses, their significance in accounting, types, historical context, and examples. Essential for understanding financial statements and ensuring accurate fiscal representation.
Accrued Income refers to revenue earned but not yet received by the end of an accounting period, essential to the accrual accounting method.
An in-depth examination of accrued liability, its historical context, types, key events, importance, and more.
Accrued Revenue refers to income that has been earned but not yet received in cash or recorded at the end of an accounting period.
Acculturation is the process of cultural change and adaptation that occurs when individuals or groups from different cultures come into prolonged contact.
A comprehensive overview of accumulated benefits, their historical context, types, key events, explanations, importance, applicability, examples, considerations, related terms, comparisons, interesting facts, FAQs, references, and summary.
Accumulated depreciation is the total amount of depreciation deducted from the cost price or valuation of a fixed asset since its acquisition. This concept is crucial for financial accounting and asset management.
An in-depth look at accumulated dividends, their historical context, types, key events, formulas, and significance in finance.
Accumulated Earnings and Profits (AEP) represents all profits retained in a company after distributions, cumulative over time.
Accumulated Earnings Tax (AET) is a tax imposed on corporations that retain earnings beyond the reasonable needs of the business to prevent them from avoiding shareholder taxation on dividends.
An in-depth exploration of Accumulated Fund, its historical context, types, key events, mathematical formulas, importance, examples, and related terms. Learn about the significance of accumulated funds in non-profit organizations, with comparisons, inspirational stories, and famous quotes.
A comprehensive guide on accumulated profits, including historical context, types, key events, formulas, diagrams, and more.
Detailed explanation and analysis of accumulating compensated absences, its types, importance, and related financial implications.
An in-depth exploration of the concept of accumulating leave, which allows employees to carry over unused leave from one year to the next.
An in-depth look at accumulating shares, a strategy to reinvest dividends into additional shares instead of taking the payout, converting annual income into capital growth while managing tax implications.
Accumulation in securities trading indicates potential price rise, opposite of distribution.
An in-depth look at Accumulation and Maintenance Trusts, a form of discretionary trust used primarily for the benefit of children and young adults. Explore its historical context, types, key events, mathematical models, charts, and importance.
An accumulation trust is a type of trust where the trust income is not distributed to the beneficiaries as it is earned. Instead, the income is added to the trust's principal and accumulates over time, to be distributed at a later date according to the terms of the trust.
Accuracy refers to the closeness of a given measurement or financial information to its true or actual value. It is crucial in various fields, including science, finance, and technology, to ensure that data and results are reliable and valid.
Accusation refers to a claim that someone has done something illegal or wrong. It often overlaps with allegations in criminal contexts.
The term 'Accused' refers to an individual formally charged with committing a criminal offense, synonymous with 'defendant' in criminal law. This entry delves into its definition, legal implications, historical context, and related terms.
The Automated Clearing House (ACH) is a U.S. network that processes bulk small-value payments, facilitating efficient electronic financial transactions.
An electronic network for processing transactions, including direct deposits and bill payments.
The ACH Network processes large volumes of credit and debit transactions in batches, providing an efficient and secure method for financial transactions.
Understand ACH Transfers: A Comprehensive Guide to Electronic Fund Transfers, including direct debits and credits, processing, historical context, and their applications in modern finance.
An in-depth look at ACH transfers, commonly used for recurring transactions and known for their longer processing times compared to wire transfers.
