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Intermediate Accounting Archive

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, […]

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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 […]

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Study Habits of Exceptional Accounting Students

Posted April 21, 2010 By Narcisse

Succeeding in any field of study requires the use of a solid strategy and accounting is no exception. As an undergraduate student in accounting, I many times had classmates in my accounting courses that would complain about their inability to consistently achieve above average exam grades. In response, I would ask¬† them to outline their […]

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US GAAP to IFRS Migration: Reframing the Debate

Posted April 12, 2010 By Narcisse

For a decade or so, there has been quite a lot of talk in the US about a possible transition from U.S. Generally Accepted Accounting Principles (GAAP) to International Reporting Standards (IFRS) with regard to U.S. publicly traded companies. Up to this point, most of the discussions on the subject have been about assessing the […]

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