Home » Archive for category 'Accounting Standards'

Accounting Standards Archive

When it comes to accounting, timing is everything. Accruals and deferrals are two of the practices through which both the revenue recognition and the matching principles are applied.¬† Those principles of accounting are two of the pillars on which accrual accounting (i.e., U.S GAAP) stands. So let us examine further what accruals and deferrals are […]

3 Comments so far. Join the Conversation

Based on some of the accounting literature I reviewed in preparation of this spotlight on the installment sales method, one of the most challenging issues accountants deal with is the proper recognition of revenue related to the operations of a business concern. While a good number of general rules and guidelines have been developed to […]

1 Comment. Join the Conversation

Assumptions, Concepts, and Principles of Accounting

Posted August 25, 2013 By Narcisse

Accounting, like most any other field of study, is anchored in a set of broad assumptions, concepts, and principles from which all rules are derived. It is almost impossible to develop an expertise in accounting without being cognizant of those fundamental precepts. Once you comprehend the essence of that set of broad accounting assumptions, concepts, […]

5 Comments so far. Join the Conversation

Rationalizing the Coverage of IFRS on the CPA Exam

Posted January 14, 2011 By Narcisse

This past winter break, I found myself perusing several CPA exam candidates personal blogs as well as a number of ¬†community forums for CPA exam candidates and I could sense there was quite a bit of apprehension among future examinees vis a vis the incorporation of International Financial Reporting Standard (IFRS) in the candidate’s body […]

5 Comments so far. Join the Conversation