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You may have heard about cost centers, revenue centers, profit centers, and investment centers. These are typical organizational units (responsibility centers) that companies have these days. A micro (pseudo) profit center is a similar concept, but it differs in its size, purpose and, sometimes, results. In this article, we will talk about micro profit centers in accounting and how they fit and work in organizations.

Over the years we created hundreds of accounting articles and tutorials on various accounting topics ranging from debits and credits for accrued payroll to results of interesting peer reviewed accounting research to financial analysis. These are the most popular articles and tutorials on our website for your enjoyment.

Underreporting hours may not be seen as a significant issue, but there are very good reasons why audit firms have policies prohibiting it. In this article, we will talk about underreporting time, how it is impacted by auditor experience and professional commitment, and what can be done to reduce underreporting time by less experienced auditors.

Work-life balance and attractiveness of public accounting have been big topics. A lot of people and companies are talking about them. Has there been any improvement in these areas in audit firms? A recent research article looks at this question.

Annual budgets have been criticized and alternatives to them have been proposed: rolling budgets (forecasts), activity-based budgeting, zero-based budgeting and beyond budgeting. In this article, we will take a look at rolling budgets.

Annual budgets have seen a lot of criticism and competition from other budget (management) tools. Is the annual budget process so bad? Should it be completely eliminated and replaced with a new management tool? In this article, we will cover the perceived drawbacks of annual budgets and whether annual budgets should be eliminated.

Why do companies use budgets? How do firms see budgets from the standpoint of their importance and performance? In this article we will talk about these aspects of budgeting (planning).

Internal auditing serves important functions in organizations. However, internal audit positions may not attract top quality job candidates. This article discusses a recent study aimed at understanding perceptions of external auditors on internal auditing.

Accounting professionals often face significant work-life balance issues, especially in the public accounting profession. In addition, members of the accounting profession are at a higher risk of job burnout compared to other professions. In this article, we will discuss results of a study performed in relation to work-life balance of accounting professionals (certified public accountants, CPAs).

Big data, data mining and business analytics are on the rise these days. Are there ways these can be used by accountants? This article provides an example of using accounting (“big”) data to perform an analysis of customer profitability.

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