Adam Hill

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Adam Hill started accounting and trading back in 2007. He has achieved quite a lot of success. Now he decided to open his blog. Here he publishes articles on accounting. For any questions of interest, please contact us by e-mail: admin-hi[email protected]
Journal entry definition

Journal entry definition

In 1973, the SEC decided to replace CAP with the Financial Accounting Standards Board (FASB), which is still in place today. On the recommendation of the American Institute of CPAs (AICPA), the FASB was formed as an independent board in 1973 to take over GAAP determinations and updates. The board is comprised of seven full-time,
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Branches of Accounting

Branches of Accounting

There are a number of principles, but some of the most notable include the revenue recognitionprinciple, matching principle, materiality principle, and consistency principle. It also involves generating financial statements based on these transactions. All financial statements, such a balance sheet and income statement, must be prepared according to the generally accepting accounting principles (GAAP), according
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Ace the Investment Banking Interview Financial Statements Question
Which financial statement is the most important?

Which financial statement is the most important?

Sometimes balance sheets show assets at the top, followed by liabilities, with shareholders’ equity at the bottom. The exact set of line items included in a balance sheet will depend upon the types of business transactions with which an organization is involved. Usually, the line items used for the balance sheets of companies located in
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Absorption dictionary definition

Absorption dictionary definition

One of the limitations of variable costing is that it becomes very difficult and cumbersome to apply in cases where there are large stocks of work-in-progress. Absorption costing also provides a company with a more accurate picture of profitability than variable costing if all of its products aren’t sold during the same accounting period when
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