This video discusses the various methods for inventory valuation and how they are used in the accounting practice. The methods discussed are: FIFO, LIFO and Weighted Average Cost.
There are two kinds of financing which the firms often resort to for generating fresh financing for short term. For one, they could choose between several methods of getting the short term finances through banks. Such methods are usually resorted to by listed companies and other companies which have reasonable credit worthiness with their bankers.
The three key motives for holding cash are: 1. The transaction motive – Cash is required to conduct ordinary business activities 2. The precautionary motive: Cash is required meet any contingencies in future. It is like a cushion or buffer to support unexpected emergency. 3. The speculative motive: Cash may be required to take advantage
The International Financial Reporting Standards (IFRS), and US Generally Accepted Accounting Principles (GAAP), are the two most widely used accounting standards in the world. IFRS standards are set forth by International Accounting Standards Board (IASB), and GAAP principles are set forth by Financial Accounting Standards Board (FASB). GAAP is more widely used by US companies,
The Certified QuickBooks® Consultant© (CQC) is a popular certification exam for QuickBooks Consultants. The certification is provided and administered by Poulos Accounting and Consulting Inc. You can become a Certified QuickBooks® Consultant© by taking the exam at your own pace! Pass the self-paced exam and market yourself as a Certified QuickBooks® Consultant and help increase
Under the revised Circular 230 requirements that govern a CPA’s and Enrolled Agent’s practice before the IRS, accounting and tax professionals will need to do more due diligence than ever before.
This video will show you how to use the EBIT calculating system to figure out what a company’s profit will be before tax and interest.
This video from Ernst & Young talks about the challenges in implementation of IFRS and the differences between IFRS and national GAAPS.
Stacey Tedeschi provides an introduction to IFRS ‘International Financial Reporting Standards’.
To understand if a product is truly profitable all costs have to be accounted for. Every cost accounted for shows if a profit is made in that product line. More often than not, companies look at making profit through volume sales. This is a fallacy.