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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. Accounts Receivables' Allowances
Accounts receivables is the result of money owed to a business arising from the sale of goods or the performance of services. Accounts receivables are reported at their net realizable value, which represents the net amount that will be collected.
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. 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.
5. Pillars of Accounting Information
Relevance and reliability are pillars of accounting information. Every accountant should relate to these two primary qualitative characteristics of accounting information.
6. Budgeting and its Role in Decision Making
A budget is a valuable tool for decision making. Planning and monitoring are essential for the organization's sustainability.
7. Significant Unusual Transactions
Former CEO, CFO, and other top officers of a corporation were accused of falsifying the company’s financial records in order to inflate the organization revenue so that the company would meet analysts’ financial projections.
8. Analyzing Accounting Transactions
Analyzing accounting transactions involves simple steps that can make a difference in the quality of the financial information.
9. Assets' Cost Recovery Through Depreciation
Depreciation is not a matter of valuation but a means of cost allocation. A monthly allocation of the depreciation expense calculated in a systematic and rational manner takes into consideration the election of the method that best fits an organization.
10. 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.
Be sure to visit the Accounting Archives for all the articles!
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