Accounting and Finance

International Accounting Standards and challanges

What Are International Accounting Standards? Benefits And Challenges In Adoption Worldwide

International Accounting Standards The International Accounting Standards Board (IASB), is an independent international entity which sets/ proposes accounting standards. This entity originally came to being in 1973, as the International Accounting Standards Committee (IASC), and later came to be known as IASB. This agency is responsible for setting the International Accounting Standards (IAS) meant to […]

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How to make accounting fun?

Do You Think Accounting Is Boring? ways How to Make It Fun?

What is Accounting? Accounting is a technical business field which includes recording, reporting and analysing financial data. Many believe that accounting is a tedious and rather boring field of study and practice. And this might have been true for certain period of time in the past, but this is not necessarily the case now. This

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Assets and Liabilities

What Are Assets and Liabilities? 5 ways how to Prepare Your First Balance Sheet?

Assets and Liabilities Accounting is a wide field with many concepts, statements and documents. One of the most commonly heard of document/ statement is the Balance Sheet. Whether it be a corporation, partnership, sole proprietor, independent person, private limited, or some other corporation- all must prepare a balance sheet. This statement records and presents the

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The Role of Auditing and Accounting In Addressing Climate Change

Climate Change Climate change is one of the central points of concern from global point of view, and has been so for years now. The global economy is constantly in search of ways to curb the negative impact of greenhouse emissions. We have been spectators to large submits conducted in hopes to find ways to

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An Accountants Roles and Responsibilities

What Does an Accountant Actually Do? Roles & Responsibilities

Who is an accountant? Just like any other profession, different people have different opinions about accountants. Some believe that accountancy is a boring profession which involves just crunching number all day long. This was true for quite some time, but not anymore. Accounting has evolved a lot overtime and is not as simple or straightforward

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Bookkeeping Vs Accounting, the Differenceg

8 Important Differences Between Bookkeeping And Accounting You Should Know

What is book-keeping? We often see, or rather hear, people use the terms book-keeping and accounting interchangeably. But is doing so the right thing to do? Well, definitely not. To an untrained eye the two terms may seem interchangeable, or even the same. And while both these functions/ operation deal with the financial aspects of

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