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What is Accounting? 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 […]

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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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I was hoping to file this blog post a week after I announced with much fanfare my return to the weekly blogging I had been doing until I went missing in action for several months. I must confide to you that my long absence from the blogging world has had a somewhat corrosive effect on […]

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