An overview of the American Accounting Association, including its historical context, key events, importance, and related concepts in accounting and finance.
An in-depth exploration of abstracts, their types, historical context, significance, key models, and their role in various fields.
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.
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.
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).
Detailed exploration of Accounting Series Releases (ASRs), their historical significance, and their evolution into Financial Reporting Releases (FRRs) in the USA.
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.
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 look at acquired goodwill, its significance in financial reporting, accounting standards governing it, and its differentiation from inherent goodwill.
Events occurring between a balance-sheet date and the date of financial statement approval that provide additional evidence of conditions existing at the balance-sheet date.
Comprehensive overview of the American Institute of Certified Public Accountants (AICPA), its history, functions, and significance in the field of accounting.
An overview of the American Institute of Certified Public Accountants (AICPA), its history, functions, and contributions to the accounting profession.
A comprehensive look at the American Institute of CPAs (AICPA), including its historical context, functions, importance, and influence on the accounting profession.
An in-depth exploration of associates in accounting, including definitions, historical context, key regulations, examples, and related concepts.
An Accounting Standards Update (ASU) is an official update to accounting standards issued by the Financial Accounting Standards Board (FASB) to provide clarifications, amendments, and improvements to financial reporting.
The process of checking accounts to ensure they are complete, consistent, and comply with legal requirements and professional standards.
A comprehensive guide to the Audit Completion Checklist used by audit staff to verify that financial statements present a true and fair view according to statutory disclosures and accounting standards.
The amount payable to an auditor for an audit, distinguished from fees for non-audit work and subject to approval at a company's annual general meeting.
An audit opinion provides an evaluation on whether financial statements are prepared appropriately according to relevant regulations, legislation, and standards, ensuring proper understanding and adequate disclosure.
Audit quality refers to the likelihood of an audit detecting and correcting material misstatements. It is crucial for ensuring the accuracy and reliability of financial statements.
A comprehensive overview of the systematic examination of financial and accounting records to ensure accuracy and compliance with established standards.
An overview of the Auditing Practices Committee, its history, key contributions, and the transition to the Auditing Practices Board.
An in-depth exploration of the distinctions and interconnections between auditing and financial reporting, highlighting their historical context, key events, methodologies, importance, and practical applications.
An audit limited to verification of the existence, ownership, valuation, and presentation of the assets and liabilities in a balance sheet.
A Bargain Purchase Option refers to a clause in a lease agreement that allows the lessee to purchase the leased asset for a price significantly lower than its fair market value at the end of the lease term.
A comprehensive overview of the generally accepted accounting principles (GAAP) specifically tailored for large entities, including historical context, key events, detailed explanations, comparisons, examples, and more.
An in-depth exploration of capital leases, including definitions, key criteria, financial implications, accounting treatment, and comparisons with operating leases.
An in-depth look at the financial and physical capital maintenance concepts, their historical context, significance, types, and applications in modern accounting and financial reporting.
An in-depth look at the carrying amount of assets and liabilities on the balance sheet, including historical context, methods of valuation, key events, detailed explanations, and practical examples.
A detailed examination of the Committee on Accounting for Smaller Entities, its role, importance, and impact on smaller businesses.
An in-depth exploration of the cash-flow statement, which outlines the inflows and outflows of cash and cash equivalents for a business over a financial period.
A comprehensive guide to understanding charity accounts, including historical context, types, key events, explanations, models, charts, applicability, examples, considerations, and related terms.
An overview of the Canadian Institute of Chartered Accountants, including its history, roles, importance in the accounting profession, and its impact on financial reporting standards in Canada.
An in-depth exploration of the ethical guidelines that professional accountants must adhere to, as established by the International Ethics Standards Board for Accountants (IESBA).
The Committee on Accounting for Smaller Entities (CASE) is a specialist committee established by the Accounting Standards Board to advise on the application of accounting standards to smaller entities. This committee played a crucial role in the development of the Financial Reporting Standard for Smaller Entities (FRSSE) introduced in 1999.
An in-depth exploration of the accounting principle of comparability, its historical context, types, key events, and its importance in financial reporting.
A financial instrument with both equity and debt elements, with specific accounting rules in the UK and Ireland.
A Comprehensive Annual Financial Report (CAFR) is the official annual financial statement for government entities in the USA, providing a detailed look into financial activities and fiscal health.
A detailed exploration of comprehensive income, its components, historical context, importance in financial reporting, and key considerations.
A comprehensive guide to consignment stock, its definitions, types, historical context, key events, and practical applications in accounting and commerce.
An in-depth look into consolidated accounts, their historical context, types, key events, explanations, mathematical models, and more.
An in-depth exploration of consolidated financial statements, covering definitions, historical context, standards, key elements, importance, applicability, and examples in the context of corporate finance and accounting.
An overview of consolidated income and expenditure accounts, including historical context, types, key events, detailed explanations, mathematical models, importance, applicability, examples, considerations, related terms, and more.
A detailed exploration of the consolidated profit and loss account, its significance, methodology, and applications in financial management.
A comprehensive overview of contingencies, including definitions, accounting treatments, key events, mathematical models, and examples.
An in-depth exploration of Contingent Consideration, particularly in the context of earn-out agreements.
An in-depth guide on contingent liabilities, including definitions, historical context, types, key events, models, charts, applicability, examples, and related terms in financial accounting and reporting.
A comprehensive examination of contingent loss, an economic loss tied to a contingent liability, including its definitions, importance, examples, and key considerations in finance and accounting.
Mandatory ongoing education for accounting professionals to maintain their licenses and stay updated with industry standards and regulations.
Convergence refers to the process of harmonizing accounting standards issued by different boards, such as the FASB and IASB, to achieve a universally accepted set of standards. Additionally, it encompasses the alignment of asset prices and indicators in financial markets.
An in-depth exploration of deemed cost, an accounting concept used during transitions to new accounting standards, including its applications, calculations, and implications.
Detailed explanation of defective accounts, including historical context, legislation, implications, types, and corrective measures. Important for understanding financial accountability and compliance.
Deferred Tax refers to the tax liabilities or assets that arise due to temporary differences between the carrying amount of an asset or liability in the balance sheet and its tax base. It impacts financial statements and requires careful calculation for future tax obligations.
A comprehensive guide on discontinued operations, covering its definition, historical context, key events, types, importance, and application in financial reporting.
A comprehensive article on Discussion Memorandum, detailing its significance in the accounting standard-setting process, historical context, categories, key events, applicability, and more.
An in-depth exploration of the concept of dissimilar activities in accounting, its historical context, and how modern standards approach subsidiary exclusion from consolidated financial statements.
An in-depth look at the Emerging Issues Task Force (EITF), its purpose, history, and impact on the Financial Accounting Standards Board (FASB) in addressing new accounting issues promptly and effectively.
Equity Accounting, also known as the equity method, is a critical practice in financial reporting that shows a company's share of the undistributed profits and net assets of another company in which it holds equity.
Ethics in Accounting encompasses the principles and standards that guide the professional conduct of accountants to ensure integrity, transparency, and accountability.
The EU Accounting Directive sets out the financial reporting requirements for companies within the EU, ensuring transparency, consistency, and comparability of financial statements.
The European System of Accounts (ESA) is a standardized accounting framework designed to ensure the comparability of economic data across European countries. It provides the basis for statistical methods and classifications for economic activities.
An in-depth look at the conditions under which subsidiaries can be excluded from consolidation under Financial Reporting Standard applicable in the UK and Republic of Ireland, including historical context, key conditions, examples, and related financial regulations.
An Exposure Draft is a draft issued as a discussion document prior to the release of a final document. Specifically, it refers to a draft issued for discussion by the Financial Reporting Council before issuing a Financial Reporting Standard.
Extraordinary items are costs or income affecting a company's profit and loss account that do not derive from the ordinary activities of the company, are not expected to recur, and, if undisclosed, would distort the normal trend of profits. These items are now treated as exceptional items under current rules.
Fair Value refers to the amount of money for which it is assumed an asset or liability could be exchanged in an arm's length transaction between informed and willing parties. It plays a crucial role in acquisition accounting, derivatives, and other complex financial instruments.
Comprehensive overview of the Financial Accounting Standards Board (FASB) and its role in establishing Generally Accepted Accounting Principles (GAAP).
An in-depth exploration of the Financial Accounting Standards Board (FASB), its historical context, importance, key events, and its role in establishing financial accounting standards.
A detailed comparison between the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), focusing on their roles, standards, and impact on global financial reporting.
A detailed and thorough audit conducted after the closure of a financial year to ensure all financial records and statements are accurate and in compliance with accounting standards and regulations.
The Financial Accounting Foundation (FAF) is the organization responsible for the oversight, administration, and funding of the Financial Accounting Standards Board (FASB) in the United States. This article explores the historical context, roles, functions, and importance of the FAF.
The Financial Accounting Standards Advisory Council (FASAC) provides critical advice to the Financial Accounting Standards Board (FASB) on various financial accounting standards, ensuring transparency and consistency in financial reporting.
The Financial Accounting Standards Board (FASB) is a non-governmental organization in the USA, responsible for establishing generally accepted accounting principles (GAAP). Established in 1973, FASB plays a crucial role in the regulatory landscape, ensuring transparency and consistency in financial reporting.
Financial auditing involves an independent, objective evaluation of a company's financial statements to ensure accuracy and compliance with accounting standards and regulations.
Comprehensive overview of the Financial Reporting Council (FRC), its historical context, roles, regulations, and impact on financial reporting standards.
The Financial Reporting Council (FRC) is the United Kingdom's regulatory authority responsible for overseeing accounting standards, corporate governance, auditing, and actuarial professions.
A Financial Reporting Exposure Draft (FRED) is a document issued by the Financial Reporting Council (FRC) for discussion and debate prior to the issuance of a Financial Reporting Standard (FRS). This article covers its historical context, types, key events, detailed explanations, models, charts, importance, applicability, examples, and much more.
Comprehensive guide on Financial Reporting Release (FRR), its historical context, importance, applicability, and detailed explanations.
A comprehensive overview of Financial Reporting Releases (FRRs) issued by the SEC, covering historical context, types, key events, importance, examples, and related terms.
Detailed examination of Financial Reporting Standards issued by the UK Accounting Standards Board and the Financial Reporting Council, highlighting their history, importance, and application.
An in-depth look at FRS 102, the comprehensive accounting standard issued by the Financial Reporting Council in 2013, which brought UK GAAP in line with International Financial Reporting Standards (IFRSs).
A detailed look at the Financial Reporting Standard for Smaller Entities (FRSSE), its historical context, significance, and applicability to smaller entities. The evolution, key amendments, and eventual withdrawal of the FRSSE, along with comparisons to other standards.
Comprehensive overview of financial reporting standards, including their history, types, key events, detailed explanations, importance, applicability, and related terms.
Comprehensive coverage of Financial Reporting Standards (FRS), including historical context, key events, detailed explanations, applicability, and examples.
A comprehensive examination of a company's financial statements to ensure their accuracy and compliance with accounting standards, thereby providing confidence to stakeholders.
Comprehensive overview of foreign currency, its types, historical context, importance, applicability, and more.
An in-depth exploration of the Form Over Substance Doctrine, its historical context, applications, and implications.
An in-depth look at the guidelines and principles for the preparation and presentation of financial statements, serving as the foundation for financial reporting.
An in-depth look at Financial Reporting Exposure Drafts (FRED), their significance in financial accounting, and their impact on financial reporting standards.
The Financial Reporting Manual (FReM) provides the framework for financial reporting in the UK public sector.
Financial Reporting Release (FRR) refers to directives and interpretations provided by the Securities and Exchange Commission (SEC) related to financial reporting.
Comprehensive coverage of the Financial Reporting Review Panel (FRRP) including its history, role, importance, key functions, and related concepts in the fields of Finance, Accounting, and Corporate Governance.
Financial Reporting Standards (FRS) are designed to guide the preparation of financial statements to ensure transparency, reliability, and consistency.
An in-depth look at the Financial Reporting Standard for Smaller Entities, its significance, key components, historical development, and practical applications.
Fully Diluted Earnings Per Share (EPS) is a financial metric that provides a conservative estimate of a company's earnings per share, considering all possible sources of conversion into common stock, such as convertible securities, options, and warrants.
