Financial Accounting 2 min read
Institute Of Internal Auditors – IIA
What is the Institute Of Internal Auditors – IIA The Institute of Internal Auditors (IIA) is a leader in certification,…
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Certified Internal Auditor – CIA
Certified Internal Auditor (CIA) is a certification offered to accountants who conduct internal audits. The Certified Internal Auditor designation is conferred by…
Financial Accounting 3 min read
Accounts Payable – AP
Accounts payable (AP) is an accounting entry that represents a company’s obligation to pay off a short-term debt to its…
Financial Accounting 3 min read
Accounts Receivable – AR
What are Accounts Receivable – AR Accounts receivable is the balance of money due to a firm for goods or services…
Financial Accounting 4 min read
Accounting Equation
What is the Accounting Equation The accounting equation is considered to be the foundation of the double-entry accounting system. The…
Financial Accounting 5 min read
Financial Statements
Financial statements present the results of operations and the financial position of the company. Four main statements are commonly prepared…
Financial Accounting 2 min read
What is Financial Accounting?
Definition: Financial accounting is the area of accounting that focuses on providing external users with useful information. In other words,…
Financial Accounting 3 min read
Accounting
WHAT IS ACCOUNTING? Accounting is the process of systematically recording, measuring, and communicating information about financial transactions. HOW DOES ACCOUNTING WORK?…
Financial Accounting 2 min read
Generally Accepted Accounting Principles (GAAP)
WHAT IS GAAP Generally Accepted Accounting Principles (GAAP) is a framework of accounting standards, rules and procedures defined by the professional accounting industry, which has…
Financial Accounting 2 min read
International Accounting Standards Board
The International Accounting Standards Board is the independent standard-setting body of the IFRS Foundation. The International Accounting Standards Board’s mission…
Financial Accounting 2 min read
What is the FASB (Financial Accounting Standards Board)?
Definition: The Financial Accounting Standards Board or the FASB is an organization created to establish and improve financial accounting standards in the…
Financial Accounting 3 min read
What is Financial Accounting?
Financial accounting is the process of preparing financial statements that companies’ use to show their financial performance and position to…