Ethical Perspectives in the Accounting Profession
Accountants have a significant responsibility to the public. This responsibility exists because outside shareholders, creditors, employees, and others rely on financial statements in making various business decisions. Internal accountants are employed by businesses to prepare financial statements. These financial statements are then audited by an independent CPA company. Both internal accountants and external auditors are […]
Key Users of Financial Statements for Decision-Making
Financial statements are an essential source of financial information for a wide range of users and decision-makers. These statements provide a comprehensive overview of a company’s financial position, performance, and cash flows. But who are the various users of financial statements who rely on these accounting records prepared by accountants? Let’s talk about them in […]
Differences between management and tax accounting
Financial accounting and reporting are only part of the broad field of accounting. Other significant kinds of accounting include management accounting and tax accounting. While both are essential in providing financial information, there are some key differences between management accounting and tax accounting Management Accounting Management accounting is internal accounting designed to meet the information […]