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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. Reporting Irregular Items
Forensic accountants are hired to verify the reliability of financial information because it is a decisive factor in assessing performance. When unrealistic goals are set many wrongdoing instances are uncovered through financial investigations where forensic accountants are actively involved.
2. 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%.
3. 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.
4. 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.
5. Cost Behavior Assumptions
Managers need help determining how the cost of resources used changes as the activity output changes. Decision-makers can make processes more efficient. What is the ratio of number of units produced compared to fixed, variable, and mixed costs? Assessing cost behavior takes into consideration the ti
6. 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.
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. Management Accountant
Penetrating international markets requires careful analysis of foreign currency repercussions, comparative advantage of trade, barriers or tariffs to international trade, and legal and ethical issues.
9. Transactions' Cycles and Internal Control
Several internal control procedures are common to most transaction cycles. Analyzing the internal controls of each transaction cycle is better achieved through the cycle approach, which combines different similar transactions with the ledger balance.
10. 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.
Be sure to visit the Accounting Archives for all the articles!
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