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Here are the top ten articles for the Accounting Site! These rankings are live and get reset at the beginning of each month, so check back often to see what your fellow visitors are most interested in!
1. Calculating Cash Discounts and Allowances
Taking discounts usually makes economic sense. The true cost foregone when a company does take a discount is high. For example in a 2/10, net 30 it would be 36%.
2. Statement of Cash Flow - Direct or Indirect Method
The indirect method is the most widely used.The direct method is call income statement method while the indirect method is called the reconciliation method.
3. Compensated Absences
Forensic accountants review these transactions as unscrupulous individuals commit fraud by reducing expenses related to compensated absences to help companies meet earnings targets and fraudulently fail to disclose in their financial statements the changes in accounting for compensated absences.
4. Accounting Information Systems (AIS) and Fraud
An executive signed a Form S-4 and a Form S-4 amendment that Company WXZ, Inc. filed with the SEC while knowing, those filings contained materially false and misleading information on prior revenue and earnings per share(2) approved backdated contracts, among other misleading actions.
5. Drawing Conclusions from Financial Statements
Forensic accountants find useful information in the financial statements. Financial statements analysis helps decision-makers and financial investigators to draw conclusions for different purposes.
6. Recording Transactions in the General Journal
Recording transactions in journals, posting to ledger accounts, and preparing a trial balance are core tasks in which accountants engage in every day. Entering a list of chronological transactions and events in terms of debts and credits into a general jornal is preview to posting a transaction.
7. Inventory Analysis & Management
How to avoid overstocking or understocking and use investment optimally. What is inventory turnover and how it affects financial statements. How to calculate the number of days it takes to sell inventory.
8. Financial Statements Explained
Understand what the figures in the financial statements mean in regards to the business. Monitor your business' health with a few simple ratios and take timely corrective or preventive actions. Use financial statements to analyse your business.
9. Recording Partnerships' Transactions
Straighforward guide to record usual transactions related to a partnership. This type of entity has gained acceptance within the business community which means, accountants should know to properly account for its transactions.
10. Analyzing Accounting Transactions
Analyzing accounting transactions involves simple steps that can make a difference in the quality of the financial information.
Be sure to visit the Accounting Archives for all the articles!
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