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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. 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.
2. 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.
3. 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%.
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. 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.
6. 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.
7. 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.
8. 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.
9. Statement of Cash Flows Example
The primary purpose of the statement of cash flows is to provide relevant information about the cash receipts and cash disbursements of an enterprise during a period.
10. Revenue Recognition for Long-Term Contracts
Revenue recognition is accelerated inappropriately with the purpose of reflect a deceitful sustainable financial position.Long-Term contracts are subject to specific rules of revenue recognition depending on the method used.
Be sure to visit the Accounting Archives for all the articles!
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