Category Archives: Accounting

Accounting Frauds and how to Detect them

download (1)There are many frauds that can occur in a business. One of these is accounting frauds. A company has an accounts team to ensure everything from earnings to expenses are recorded in the proper manner. At the end of the financial year, these records are perused and, based on these records; the company will be able to figure out if it has been a good year with many profits or if it had been a bad year with minimum profits. When there is accounting fraud, the company is unable to figure this out. Most often, accounting frauds occur due to the deliberate manipulation of the accounting records to show profits that are not there. This shows the company in a better light. There are many types of accounting frauds. Continue reading

Ethical Responsibility in Accounting

Accounting EssayAccountants have a code of ethics. They are not just people who do a common job. They are people who follow this code of ethics throughout their profession. Accountants have to work according to the rules governed by the organization they work for, as well as, by the rules set down in the accounting industry. Accountants have an ethical responsibility to everyone they work for. They need to follow these ethics in order to be able to work for the organization or people who employ them so that they do not divulge any financial information. Continue reading

A Few Basic Accounting Principles

accounting principlesAccountants use certain principles of accounting to help them record financial information. These principles provide a basic guideline that enable accountants to do their job. Many people, studying accounting for the first time, are clueless about these accounting principles. This is why, this sample accounting essay strives to educate you on some basic accounting principles. Continue reading

Common Accounting Problems

Accounting ProblemsAny person dealing with money will find the necessity of accounting vital and unavoidable. Most people are not happy about discussing accounting as it is a tough task. However, any person who runs a business should be conversant with accounts. Most businesses hire accountants. But, even with professional accountants, a business can have accounting problems. This essay discusses some of the common accounting problems and how to fix them. Continue reading

Five Reasons to Hire an Accountant

accountantAccountants are necessary to a business irrespective of the size of the business. Accountants are also necessary for individuals. Accountants are familiar with all the tax laws and they are the best to keep the finances in order. No matter what one does to manage their taxes and accounts, it is extremely likely that an accountant may be necessary at some point. Hiring an accountant provides individuals or small businesses a host of benefits. This essay is about five reasons why an accountant may be the best move made in a business or to an individual. Continue reading