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Tuesday, September 27, 2011
9:39 AM
Review of: FINANCIAL ACCOUNTING -An introduction of concepts, methods and uses
The book covers all the basic topics of the financial accounting very comprehensively. Analysis and interpretation of the financial statements have been given due importance in the book. The topics have been explained in a very simple language so easy to grasp the concepts behind it. It is a...
1:12 AM
Questions and Answers on Management accounting
Question # 1What is the difference between financial accounting and management accounting?Financial accounting is the legal and regulatory requirement, whereas management accounting is based on the sole discretion of management.Financial accounting is done in accordance with the generally accepted principles or international accounting standards. In contrast, management accounting does...
12:38 AM
5 Questions and Answers on Management Accounting
Question # 1What is the difference between financial accounting and management accounting?Financial accounting is the legal and regulatory requirement, whereas management accounting is based on the sole discretion of management.Financial accounting is done in accordance with the generally accepted principles or international accounting standards. In contrast, management accounting does...
Monday, September 26, 2011
11:52 AM
BEST PRACTICES TO CHOOSE THE BEST ACCOUNTING SOFTWARE
Accounting software selection starts with the detail study of current business practices, followed by gap analysis, requirements definition, ranking of the requirements, preparation of detailed request for proposal, evaluation and short listing of the vendors on the defined criteria, performance of the cost and benefit analysis and finally selection...
11:38 AM
The Accounting Game
The Accounting game is worth reading accounting book that comprehensively explains complex accounting in a fun and easy way.This book uses the world of a kid's lemonade stand to teach the basics of financial terms You'll run your own lemonade stand and make it grow by creating signs to...
11:22 AM
Core Concepts of Accounting (8th Edition)
Core Concepts of Accounting offers the accounting learners a complete understanding of the basic terminology and fundamental accounting concepts. The revised book includes now full text of the self paced workbook approach and includes important accounting concepts and terms, a comprehensive explanation of financial statements, the use of financial...
11:18 AM
Understand Accounting Information Systems
Accounting information systems are the most critical information systems in business. These system are based on double entry book keeping concept, responsibility accounting and activity based costing. Computer based accounting system records and processes transactions to generate meaningful information like balance sheet, profit and loss account and reference reports...
Saturday, September 24, 2011
11:49 AM
General Ledger and Concept of Accounting
The nominal ledger is an accounting record which summarizes the financial affairs of the business. It is also called general ledger.It includes details of assets, liabilities, capital, income and expenditure, and so profit and loss. It consists of a large number of different accounts, each account having its...
Friday, September 16, 2011
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Thursday, September 15, 2011
8:59 AM
Review of FRANK WOOD'S BUSINESS ACCOUNTING
Frank Wood's accounting book covers all the topics for the beginners. It provides a very sharp view of the basic accounting and managerial concepts. From introduction of accounting cycle to the concept building till transaction posting, the book is worth reading....
8:44 AM
Review of Wiley IFRS practical implementation Guide and Workbook
Wiley IFRS is an excellent book and a quick reference guide for understanding practical implementation of International Financial Reporting Standards/ International Accounting Standards. The book includes complete and comprehensive overview of the standard along with the practical guidelines. Illustrations at the end of chapters summarizes the whole topic with...
Wednesday, September 14, 2011
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Accounting Equation Illustration
To be precise, accounting equation is the most important concept for preparing financial statements. It is the rule that assets of the business are always equal to liabilities of the business. So accounting equation becomes Assets = LiabilitiesBusiness liabilities consist of two types. 1) External liabilities . 2) Internal...
Tuesday, September 13, 2011
9:53 AM
Basic Accounting Concepts
To understand the accounting you are required to understand some basic concepts of it. These include1) Going Concern2) Prudence3) Matching Concept4) Consistency 5) Materiality6) Substance over formGoing ConcernGoing concern concept implies that the entity will continue to operate in the foreseeable future and has not any intentions or necessity...
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Monday, September 12, 2011
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