Finance General Faqs

Why do users of accounting Information need accounting information?
External users of accounting information (especially investors) use accounting information like annual and quarterly reports to base their investing decisions on, and to compare different companies with one another. Internal users of accounti...... More »
What is an EA in accounting?
EA stands for Enrolled Agent. It is a certification by the Internal Revenue Service given to those qualified to practice before them. To become an EA, one must pass a test given by the IRS, the purpose of which is to try to ensure that only qualif...... More »
What is accounting?
Accounting is a method or system used to keep track of and determine the financial status of a person or company's income/assets and outlay of money/possessions. (An Accountant engages in Accounting: "The occupation of maintaining and auditing...... More »
Who uses accounting?
Taxpayers like to use accounting ...... More »
What is account in accounting?
A account is the method used to visualize the debit credit accounting procedure. The account can represent any account regardless of expense, revenue, asset, or liability. The debits are placed the left side and the credits on the right. ...... More »
What are the different branches of accounting?
Following are different branches of accounting: 1- Cost Accounting 2- Financial Accounting 3- Management Accounting ...... More »
Is financial accounting necessary?
Yes, the accounting calculates the cost of capital to the business. It compares the current, expected, and historic rates of return. Suppose a company is making 12% returns but borrowing money by using the owner's credit card at 22% be good to...... More »
What is fair value accounting?
Fair Value accounting is an accounting term that requires a company to place a value on all of the assets on its balance sheet that, it is the price at which the assets could be sold. This is easy to do when the asset has a quoted market price. Ho...... More »
What are accounting principles?
The Accounting Principles are the assertion rules of accounting and the application of these rules, method, & procedures to actual practice of accounting. These Accounting principles have been divided into A. accounting concepts ...... More »
What is fiduciary accounting?
Proper accounting for property that is entrusted to the fiduciary acting under the conditions set forth in a deed ...... More »