How Auditors Treat Uncorrected Misstatements under US GAAP
Misstatements sometimes left uncorrected, particularly when the financial statements preparer detects them after the statements have been produced and distributed. Using an auditor perspective, how do...
View ArticleUnderstanding Cost Behavior (Predict Future Cost)
Managing ‘activities-and-their cost’ is a key to success in business. To be able to manage activities and costs, it is necessary to understand how costs respond to cost drivers—known as “cost...
View ArticleWhat Are Roles and Responsibilities of Audit Committee?
Audit committee, in the real corporate world, has been existed for long time and the perception of its roles and responsibilities are evolved time-by-time. This post aims to highlight roles and...
View Article2012 FASB Accounting Standard Updates You Probably Missed
We are approaching the end of the 2012, have been busy, and there is no way to stay updated with the constant changes in the accounting standard time-by-time. If you are a U.S. entity or work for one...
View ArticleAccounting for Business Acquisition Using Purchase Method
In brief, a business acquisition, from the accounting standpoint, is a transaction in which both the acquiring and acquired company are still left standing as separate entities at the end of the...
View ArticleUsing Procurement Card to Simplify Invoice Processing
Accounts Payable (A/P) accountants very well know how the supplier invoice processing sucks most of their working hour. Consider the following common routines carried on ...
View ArticleFinancial Statements Disclosures Required Under IFRS
Though I have posted about balance sheet’s disclosures required under the US’s accounting standard codification, in the past. This post discusses financial statements disclosures required under IFRS,...
View ArticleHow Auditors Treat Uncorrected Misstatements under US GAAP
Misstatements sometimes left uncorrected, particularly when the financial statements preparer detects them after the statements have been produced and distributed. Using an auditor perspective, how do...
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