Posts Categorized: Financial Accounting

Late Payments Matter

Posted by & filed under Accounting Principles, All Articles, Auditing, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis.

Late Payments Matter According to new research, approximately 4,000 small and medium sized firms in the U.K. collapsed in 2008 due to late payments by customers. This amounted to approximately 62 billion pounds that were more than 30 days late and of this 15.5 billion that were more than 120 days overdue. For more than… Read more »

Getting to the Bottom of Repurchase Agreements (or Repos)

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Financial Accounting, Fraud Accounting.

The Securities and Exchange Commission is asking public-company CFOs for better disclosures and additional information about repurchase agreements, or repos, which are the same transactions that Lehman Brothers used to make its balance sheet look healthy before the investment bank collapsed into bankruptcy. Based on company responses, the SEC could ask issuers to amend their filings… Read more »

Visual Forensic Accounting Skills Are Assets In Divorce Consulting

Posted by & filed under All Articles, Auditing, Financial Accounting, Fraud Accounting, Video Updates.

Clearly laying out key ideas and arguments that support divorce proceedings are becoming a critical success factor for forensic accountants who consult in this area. As author, Dan Roam The Back of the Napkin by Dan Roam asserts visual thinking is critical in the business world and forensic accounting is no exception.  For the forensic accountant,… Read more »

More Forensic Accountants of the Future Needed

Posted by & filed under Accounting Principles, All Articles, Financial Accounting, Fraud Accounting, Intermediate Accounting.

In recent efforts, the AICPA is promoting forensic accounting skills to CPA firms and university professors. As part of this push, the Institute has published a new report entitled, “Characteristics and Skills of the Forensic Accountant, which presents qualities that surveyed attorneys, forensic CPAs and academics see as critical for the forensic accounting discipline, particularly… Read more »

Starbucks’ Social Media Strategy

Posted by & filed under Accounting Principles, Financial Accounting, Video Updates.

It is not an accident that Starbucks is the leading consumer brand on Facebook. CEO and Chairman Howard Schultz explains that Starbucks gained prominence on Facebook by making a significant commitment to investing in social media. Executives at Starbucks have learned that they can’t push a product on a consumer. Rather, they must engage consumers… Read more »

Avatar Accounting

Posted by & filed under Financial Accounting, Video Updates.

A working knowledge of accounting is helpful for almost any career endeavor. In real estate, for example, brokers must have a thorough understanding of the numbers involved in the decision-making process.  Real estate brokers traditionally determine whether a buyer can make payments to a bank, identify tax benefits of a purchase, and even determine whether… Read more »

Green Accounting Roadmap

Posted by & filed under Accounting Principles, Financial Accounting.

A new report by Ceres, a leading coalition of investors, environmental and public interest organizations in North America, stresses that companies must make immediate envrionmental improvements to remain competitive in the 21st century global economy.  Sustainable performance, not short-term environmental initiatives, will position companies to plan and innovate in an increasingly resource-contstrained economy.  Included in… Read more »

Good News for Accounting Graduates

Posted by & filed under Accounting Principles, All Articles, Financial Accounting, IFRS, Intermediate Accounting.

Good news for accounting graduates! A nationwide survey of 3,500 accounting, finance, and human resource executives indicated that, in 2010, the majority of accounting and financial businesses that were impacted by the economic crisis are likely to hire accounting and financial candidates in 2010. About half of the survey respondents said they anticipated hiring support,… Read more »