Businesses and other economic entities record transactions and compile them using different accounting bases that best suit their preferences and needs. Each accounting basis can be imagined as a ...

In cost accounting, an accountant often uses the information about costs during a certain period to project future expenses. There are several methods the accountant may use for his estimations, ...

The Australian Securities and Investments Commission (ASIC) has made clear to company directors that they have an obligation to question the accounting assumptions contained in financial reports, even ...

Effective tax accounting is a complex and high-stakes function. The accuracy of tax provisions is critical to financial reporting, yet vulnerabilities exist due to the reliance on spreadsheets and the ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Suzanne is a content marketer, writer, ...