What is financial window dressing?
Financial managers can do certain things to increase or decrease net income that’s recorded in the year. This is called profit smoothing, income smoothing or just plain old window dressing. This isn’t the same as fraud, or cooking the books. Most profit smoothing involves pushing some amount of revenue and/or expenses into other years than
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Disclosure
Financial statements are the backbone of a complete financial report. In fact, a financial report is not complete if the three primary financial statements are not included. but a financial report is much more than just those statements. A financial report requires disclosures. This term refers to additional information provided in a financial report. Therefore,
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What happened in corporate accounting scandals?
When a corporation deliberately conceals or skews information to appear healthy and successful to its shareholders, it has committed corporate or shareholder fraud. Corporate fraud may involve a few individuals or many, depending on the extent to which employees are informed of their company’s financial practices. Directors of corporations may fudge financial records or disguise
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What happened at Enron?
Everyone knows at least a little about the Enron story and the devastation it created in the lives of is employees. It’s a story that belongs in any discussion of ethical accounting processes and what happens when accounting standards and ethics are discarded for personal greed. Enron began in 1985 selling natural gas to gas
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What is the Sarbanes-Oxley Act?
The Sarbanes-Oxley Act of 2002 is a United States federal law passed in response to the recent major corporate and accounting scandals including those at Enron, Tyco International, and WorldCom (now MCI). These scandals resulted in a decline of public trust in accounting and reporting practices. Named after sponsors Senator Paul Sarbanes (D-Md.) and Representative
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Who uses forensic accountants?
Forensic accounting financial investigative specialists work with financial information for the purpose of conveying complicated issues in a manner that others can easily understand. While some forensic accountants and forensic accounting specialists are engaged in the public practice of forensic examination, others work in private industry for such entities as banks and insurance companies or
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What is forensic accounting?
Forensic accounting is the practice of utilizing accounting, auditing, and investigative skills to assist in legal matters. It encompasses 2 main areas – litigation support, investigation, and dispute resolution. Litigation support represents the factual presentation of economic issues related to existing or pending litigation. In this capacity, the forensic accounting professional quantifies damages sustained by
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What are auditors?
Accountants and auditors help to ensure that the Nation’s firms are run efficiently, its public records kept accurately, and its taxes paid properly and on time. They perform these vital functions by offering an increasingly wide array of business and accounting services, including public, management, and government accounting, as well as internal auditing, to their
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What is the FASB?
The FASB is one organization that provides standardized guidelines for financial reporting. The mission of the Financial Accounting Standards Board (FASB) is to establish and improve standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors and users of financial information. Accounting standards are essential to the efficient
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Managing the Bottom Line
If you don’t keep track of how much money you’re making, you have no idea whether your business is successful or not. You can’t tell how well your marketing is working. And I don’t just mean you should know the amount of your total sales or gross revenue. You need to know what your net
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Quasar software
Accounting has become more and more complex as have the businesses that use accounting functions. Fortunately, there are several excellent software packages that can help you manage this important function. Quasar is one such package. All versions of Quasar offer comprehensive inventory controls. In its most basic use, the inventory module allows a business owner
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Building Cash Reserves
Building a financial cushion for your business is never easy. Experts say that businesses should have anywhere from six to nine months worth of income safely stored away in the bank. If you’re a business grossing $250,000 per month, the mere thought of saving over $1.5 million dollars in a savings account will either have
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جامعة الناصر تقيم الفعالية المركزية للاحتفال باسبوع الشهيد 1446هجرية
الثلاثاء 17 جماد اول 1446 هجرية الموافق 19 نوفم...جامعة الناصر تنظم الندوة الثانية ضمن فعاليات وانشطة الذكرى السنوية للشهيد في مبنى كلية الهندسة وعلوم الحاسوب
نظمت جامعة الناصر صباح الأثنين الندوة الثانية ف...جامعة الناصر تدشن فعالياتها الخاصة لإحياء أسبوع الشـ هـيد 1446هـ
بحضور رئيس الجامعة الاستاذ الدكتور عبدالله حسين...جامعة الناصر تنظم الوقفة التضامنية الاسبوعية مع غزة ولبنان وتؤكد الجهوزية في مواجهة قوى الاستكبار
صنعاء ; الاربعاء 11 جمادي الاولى1446ھ الموافق 1...طلبة الصيدلة بجامعة الناصر يدعمون مركز مرضى الثلاسيميا بمنتوجات دوائية
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