Accounting Articles

New accounting standards are issued by standard setters (e.g., Financial Accounting Standards Board) on a somewhat regular basis. They are aimed at improving financial reporting. However, sometimes such standards may also have unforeseen results. In this article, we discuss such results of SFAS No. 151, a standard related to accounting for inventory production costs.

Financial statements should be free of errors. Error-free financial statements allow efficient decision-making and help to avoid reputational scandals and penalties. However, no one is perfect and errors still occur. In the article below, we will discuss what the most common errors in financial statements are and how to avoid them.

Differences between accounts payable (balance sheet) and expenses (income statement) are sometimes confusing. In this article, we will discuss such differences and show how the two types of accounts can be connected in a journal entry.

The article below discusses how to distinguish property, plant and equipment from inventory, provides key controls for purchasing inventory purchasing and underlines some peculiarities of capital acquisitions.

In many business areas intellectual property developed by a company or individual is licensed to another party under royalty agreements. The article below describes what royalties are and provides general rules for accounting for royalty arrangements.

Public accounting attracts a lot of graduates annually. Two most commonly selected career paths are audit and tax. Both have advantages which draw attention of students when they choose which track to choose. In this article, we analyze research results explaining student beliefs in their career path selection.

Activity-based costing has been around for some time and is used by some of the largest and successful companies in the world. This costing approach, though, may require a lot of internal resources to develop and maintain. In this article, we will discuss a new flavor of this costing method called time-driven activity-based costing.

Disclosure of nonfinancial information has become more prominent. This article talks about the impact such disclosure may have on the cost of equity capital.

Trademarks may be important for businesses nowadays. Customers are often ready to pay more for the recognized quality of branded goods that in turn stimulates companies to invest more in acquisition and development of trademarks. This article discusses the initial recognition, measurement and accounting for trademarks.

This article looks at the question of whether the CEO origin impacts a company’s earnings management by manipulating accruals. This information will be helpful to external and internal auditors, Boards of Directors, Compensation Committees, among others.

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Accounting Articles
Accounting Articles include guides and answers. Accounting guides explain application of accounting principles in practice. Great assistance if you are looking for real-life accounting situations. Accounting answers explain particular accounting topics suggested by our website users. Great to find quick answers for specific topics.