Management accounting, also referred to as managerial accounting, is a type of accounting often juxtaposed with financial accounting. While financial accounting is primarily focused on managing and recording your company's transactions, managerial accounting is used for a much broader range of reasons. ...
英语翻译What is Accounting?Accounting is an information science used to collect,classify,and manipulate financial data for organizations and individuals.Accounting is instrumental within organizations as a means of determining financial stability.Accountants are responsible for determining an organization’s ove...
While accounting profit is a critical metric, it is important to distinguish it fromeconomic profit, which incorporates both explicit and implicit costs. Implicit costs, also known as opportunity costs, represent potential earnings from alternative uses of resources. For example, if a business owner ...
Most large organizations have a person designated as the controller (sometimes termed “comptroller”). The corporate control function is sufficiently complex that a controller may have hundreds of support personnel to assist with all phases of the management accounting process. As this person’s title...
The accounting cycle is the process of accepting, recording, sorting, and crediting payments made and received within a business during a particular accounting period. Companies generally balance their books each quarter and then again at year-end, though others may prefer to settle the books every...
Businesses and startups – Although these businesses may be small in size and at the beginning of their journey, it is critical to have their accounting needs in order. This is why they will often hire outside help (consultants/accountants) to make sure that they are set up properly and ...
The sunk cost fallacy is a psychological barrier that ties people to unsuccessful endeavors simply because they've committed resources to it. 沉没成本谬误是一种心理障碍,它将人们与不成功的努力联系起来,仅仅是因为他们已经投入了资源。 Examples of sunk costs include salaries, insurance, rent, nonrefundab...
Financial accounting is a subdiscipline within accounting that helps organizations provide reporting related to three critical areas of a business: its assets and liabilities (balance sheet), its revenues and expenses (income statement), and its cash flo
National income accounting is used to measure economic growth and activity. It can also be useful in tracking trends and guiding monetary policy. What Are the Problems of National Income Accounting? The key issues with national income accounting are the exclusion of goods or services that have no...
Organic growth allows for business owners to maintain control of their company whereas a merger or acquisition would dilute or strip away their control. On the other hand, organic growth takes longer, as it is a slower process to acquire new customers and expand business with existing customers....