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Fundamental accounting equation
The fundamental accounting equation was developed by Luca Pacioli more than five hundred years ago. Nevertheless, it still forms the foundation of modern accounting with its... read more
Professional ethics in accounting
Professional ethics has a very important role in accounting and all accountants are expected to behave accordingly. The financial statements, auditing reports and other... read more
Accounting profession and accountants' tasks
There is nothing unusual in the accounting as in profession, and accountants are the same usual people as everybody else. There are several specific directions in accounting... read more
Inherent limitations in accounting
It is often necessary to make estimations of reported accounting measurements that can not be measured at the time when the reports are being prepared. Accounting is not one... read more
Managerial accounting
Unlike financial accounting, the managerial accounting is used to serve specific sets of management needs. Based on managerial accounting information the management plan... read more
Financial accounting and financial accounting reporting
Financial accounting is a type of accounting which main aim is to deliver accounting information to wide set of users outside the company. Usually, analytics and other... read more
Accounting qualifications
Accounting qualifications vary from each different professional organization, but the most common qualifications for being a professional accountant are shared by most of the professional organizations, such as ACCA, or Chartered Certified Accountant. To qualify for acceptance into one of these professional organizations, one must first go through the professional scheme. The professional scheme is the primary qualification and entails up to fourteen professional examinations over three years of supervised accountancy experience. Anyone is open to take the examinations. To qualify, there must be a Bachelor of Science degree completed during the professional scheme timeframe. The subjects of the examinations include: financial accounting, management accounting, taxation, financial audit, company law, strategic management, and information systems. Other qualifications offered by these professional organizations include: an MBA and diplomas in international financial reporting, financial management, and international auditing.
Once a part of the organization, there are different levels of membership. The first level is an associateship. This is where an individual starts as a student and begins to complete the qualifying examinations. Then there is a fellowship where an individual is given this title by having three years of continuous membership and having documented continuing professional education. Continuing professional education is required for all accountants who are part of a professional organization. Continuing professional education is important to keep accountants sharp and to renew professional certificates and licenses. It used to only be mandatory for people who held certain licenses, but now have been extended to be mandatory for all members of a particular professional organization.
21 of December, 2009. 10:36
SunGard updates hedge fund accounting software
SunGard has released a new version of its VPM portfolio accounting solution for hedge funds.VPM version 9.0 includes new workflow features and an enhanced reporting engine.... read more
18 of December, 2009. 10:20
An accountant stole £3.6m for prostitutes
A former Toys R Us accountant has been jailed for seven years for defrauding the firm of £3.6m he spent on prostitutes and expensive cars. Paul Hopes, 58, had worked for the... read more
04 of December, 2009. 23:01
BIG4 is releasing its free online accounting system
The accounting software provided by BIG4 is a Software as a Service product. It allows small and medium business users to get full-featured accounting software without any... read more
04 of December, 2009. 22:56
A CPA is facing 12 years for stealing $2.7 millions
Mr. Stephen Anthony Frlekin, a CPA since 1980, today has been pledged guilty to 152 felonies, including computer access and fraud, money laundry, grand theft, and sentenced... read more
18 of November, 2009. 04:31
SunPower shares tumble after accounting errors
NEW YORK, Nov 17 (Reuters) - The shares of solar power company SunPower Corp (SPWRA.O) tumbled more than 18 percent on Tuesday after the company said it was investigating... read more
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