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 […]
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 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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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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What is Accounting Accounting is the process via which we record, report and communicate the financial information of an organization or an individual. Or simply, accounting is the way by which businesses (or entities) record their financial situation. Anyone who is given the task of accounting financial activities must capture in a snapshot the entire
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What is Accounting Accounting is one of the most attractive fields of study and occupation world over. Obviously there are many programs/ degree, and professional diplomas etc. available for those who want to enter this field. Students pursuing these degrees, may require to present compelling assignments over the course of their study. These assignments are
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Accounting refers to the process of recording and analysing the financial situation of a business or any entity. For someone to be able to keep such financial records and make said analyses, they must be qualified and possess a certain set of skills. Studying accounting equips you with the knowledge to perform these tasks. But
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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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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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The past two years have been extremely difficult for all with the Covid-19 shutdowns. Many small businesses have borne the brunt and suffered major losses. In fact, tens of thousands of small business in the US have shut doors. And even though hopefully our war against Covid-19 and its repercussions is on its last legs,
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