The financial statements from companies from around the world typically reflect the cultural values and economic climate of their country. Because there is so much variation, investors may have a difficult time reading and interpreting the financial statements of foreign …
posted in Accounting KnowledgeYour marketing strategies are usually reflective of your business’ growth and your overall success. So why are you putting off what is in your best interest? Marketing must be done with an objective in mind, and your fears and reservations …
posted in BusinessThe AICPA just announced its new Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs), which was created to streamline the financial reporting requirements for small to medium sized businesses. The Reporting Framework for Small- and Medium-Sized Entities (FRF …
posted in Accounting NewsA company’s budget is just a theory unless there is follow-up and staff feedback. Weak links in a budget can include management’s inattention to the budget, large variances in the budget left uncorrected, and lack of communication. Those who actively …
posted in Accounting KnowledgeAs a result of the scandals of Enron, Tyco and WorldCom, the Sarbanes-Oxley Act was passed through Congress. The purpose of this act was to prohibit several questionable activities like some insider trading, conflicts of interest involved with auditors, and …
posted in Accounting KnowledgeAlthough financial statements from foreign countries may be difficult to read and interpret, there are ways they attempt to make them more user-friendly to North American investors. There are three main hindrances in understanding a foreign country’s financial statement. These …
posted in BusinessShareholders and potential investors or money lenders will utilize annual reports to help them evaluate the soundness of their investment. Thankfully, with access to the Internet, various company’s annual reports can be easily found online. However, if preferred, annual reports …
posted in Accounting KnowledgeMany companies offer stock to employees. If stock is available to all employees and may be purchased for at least 95% of its market value, then accountants need not record the discount portion of the employee compensation. The stock’s worth …
posted in CareerThe financial statements in an annual report are comprised by the accountant and make up the bulk of its content. Although the calculations and data divulge much about a company’s current financial health, the note section is even more revealing. …
posted in Accounting KnowledgeAmbrose Bierce once famously defined a corporation as “An ingenious device for obtaining individual profit without individual responsibility.” You can put that one in the pro or the con column depending on your personal views, but the steadfast corporation, a …
posted in Business