What is accounting? Accounting is an integral part of business operations since the communication of financial information to all the important stakeholders depends on accounting. Accounting serves all the stakeholders from owners to managers and investors; whoever is affected by the financial performance of the company and is interested in the financial information. This is […]
Accounting
A Discussion of the Role and Responsibilities of the CFO.
Finance is an important concern for almost all organizations whether big or small. However, as a company grows, its financial concerns also grow and so do the responsibilities of finance department. Large businesses have Chief Financial officers to take care of the financial concerns of the organization. The role of the CFO inside an organization […]
How AI Is Allowing Accountants to Thrive
Artificial intelligence is a topic of many science fiction tales in which it has dangerous consequences. In reality, the use of AI is assisting all kinds of industries and helping workers thrive against all kinds of economic factors. In accounting, AI enables greater focus on human interaction, making it chiefly important in customer communication and […]
The FASB and its Mission.
The Financial Accounting Standards Board (FASB) was established in 1973. FASB is an independent body. It is located in Norwalk, Connecticut, United States. The FASB established the accounting and financial standards for the private and public companies as well as not for profit organizations following GAAP (Generally Accepted Accounting Principles). The Securities and Exchange Commission […]
Securities Exchange Act of 1934.
The US Congress created the Securities and Exchange Commission through the Securities Exchange Act of 1934. This act empowers the Securities and Exchange Commission and grants it broad authority over all the aspects of the securities industry. Securities Industry in the United States Traditionally, three types of organizations have been a part of the securities […]