The basic financial statements a company produces are not only for internal evaluation, but for the use of external entities like shareholders and creditors. Typically, these external users want to see a company’s balance sheet, income statement, statement of ownership …
The Generally Accepted Accounting Principles (GAAP) have been established to provide a nationwide standard of accounting. Using GAAP reporting supplies financial statements with a consistent structure, making them easily understood and comparable for external entities. The IRS and outside investors …
Many accountants go into the field with one goal in mind: working for themselves. Accounting has long been a field where it’s easy to do just that, primarily by serving the needs of other small businesses. It’s a practical, stable, …
Well, let’s hope it’s not the actual apocalypse just yet. But as stay-home orders come down from on high and businesses shutter their doors on account of COVID-19, it sure feels a lot like the end-times for a lot of …
Uncovering one of the most famous hacking episodes in history started with a $0.75 accounting discrepancy. In 1986, a remote user of a minicomputer at the Lawrence Berkeley National Laboratory used up 9 seconds of processing time. Each department and …