Financial Accounting

Financial Accounting involve recording financial data and preparing financial statements of entity based on accounting standards or reporting frameworks.

  • Types of Financial Statements
  • Element of Financial Statements
  • Balance Sheet
  • Income Statement
  • Accounting principle
  • Assets
  • Liabilities
  • Retained Earning
  • Trial Balance
  • Financial Statements Analysis
  • And others importance topics related to auditing

How Difficult is an Accounting-related Job? Is It Really Stressing?

Accounting and finance are indeed competitive fields with different career options and good annual packages. Finance professionals and accountants can also set up independent firms or work as freelancers to grow their multiple income streams and increase their wealth. That’s why more and more students are eager to join the accounting field besides computer and …

How Difficult is an Accounting-related Job? Is It Really Stressing? Read More »

7 Best Calculator For CPA, CFA, And Accountants

If you are a professional accountant, CPA, CFA, or mortgage broker, you will have to spend most of your time doing calculations, analyses, and computations. The calculations’ complexities might differ for each professional, but the need is almost identical. However, it will be unjustified if a professional at such a level is not provided with …

7 Best Calculator For CPA, CFA, And Accountants Read More »

What is Meant by Credited to Your Account?

Individuals and businesses must follow accounting procedures and regulations to report expenses, revenues, assets, liabilities, contingencies, etc. However, when you are just starting to understand accounting and financial reporting, the rules of debit and credit can be very confusing. Yet another confusion that exists is the difference between double-entry, single-entry, GAAP, IFRS, etc. It might …

What is Meant by Credited to Your Account? Read More »

What Is the Difference Between Adjusting Entries And Correcting Entries?

The purpose of accounting in any business entity is to properly record the financial transactions, classify them, and present them as useful information in financial statements and analysis. However, the financial statements and analysis can only be useful and fair if the recording and classification process of economic events and transactions has been done accurately. …

What Is the Difference Between Adjusting Entries And Correcting Entries? Read More »

Which Depreciation Method is Most Frequently Used in Businesses Today?

Business entities own different assets that are used for operations and revenue generations. Some assets are consumed within one accounting period, while others last for more than one accounting period. The short-term assets used within one year are not recorded in the company’s balance sheet. Instead, they are recorded as the expense of the company. …

Which Depreciation Method is Most Frequently Used in Businesses Today? Read More »