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Role Of Financial And Managerial Accounting

Financial accounting pertains the preparation of an organization’s financial statements. The role of financial accounting therefore is to come up with information that can help the users of financial statements in making decisions. Some of these users include employees, shareholders, suppliers and financial Institutions. Managerial accounting on the other hand aims at providing information that […]

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The Enron Accounting Scandal

Evidence abounds today to suggest that recent corporate scandals are directly indicative of a negative pattern in both ethical and legal regards that extends beyond any single organization. There is, instead, practical evidence in the epidemic nature of this generation’s collective collapse to suggest that a need still exists for greater orientation toward ethical organizational […]

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The Role of Accounting in Business

Accounting is a part of your daily life, it is not a branch of Mathematics, however, you need to be able to add, subtract, multiply and divide, otherwise, you would not know how much money you had with you, how much you would have spent or whether the change you received was correct. Accounting is […]

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Financial and Managerial Accounting

Financial and Managerial Accounting             To make a sound economic decision based on a firm’s performance, you must first understand and know the different accounting methods and principles that can help a business thrive and succeed.  Most businesses have three main objectives: to earn a profit, remain solvent and have longevity.  By using different accounting […]

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Financial Statements in Accounting

Financial Statements in Accounting 1. Why are the dates on financial statements important?  How do the primary financial statements (income statement, balance sheet, and cash flow) tie together?  What managerial assessments can you make about a company that has a profit and a negative cash flow in the same accounting period?     The dates of […]

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Price Accounting

Acquiring an MBA is not as easy as it may seem. There are numerous rules to follow and several factors to consider. My decision to go back to school and acquire an MBA was an effective step in reaching my career goals. The program would come to my advantage for it would assist me in […]

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Managerial accounting

Describe in detail the method used in administering the operating budget or the capital budget for your organization. In the modern business world, budgeting is the prime objective and a significant activity for every organization’s departments or SBUs like production, marketing and finance etc. Budgeting helps the management to take prompt and correct decisions and […]

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The accounting and business word

Formerly, a big time industry leader, the celebrated case of Enron was one of grandeur and impressiveness that catapulted into a prominent sensational scandal in the accounting and business world and public censure and finally, to collapse. Fortune magazine reported Enron not only as among the Most Admired Companies in America but also the “most […]

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Managerial Accounting

Aside from legal and ethical implications, Accounting Technology has played an important role in keeping track of corporate numbers. Traditional paper based methods are often prone to human errors, providing means to internal fraud and is susceptible to unethical practices. Dishonest employees can easily scratch off numbers from a list or shred invoices, sales orders […]

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Stock Option Accounting

Enron Company used over the counter derivatives in order to be able to hide that nature of what it was doing to make money. Today many former employees, retirees and investors are paying the price of their company’s desire to operate confusing, murky and unregulated transaction. (Enron Watchdog) The stock option accounting loophole has caused […]

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