Related Research Articles
Accounting,also known as accountancy,is the process of recording and processing information about economic entities,such as businesses and corporations. Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders,including investors,creditors,management,and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used interchangeably.
Cost accounting is defined by the Institute of Management Accountants as "a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail. It includes methods for recognizing,allocating,aggregating and reporting such costs and comparing them with standard costs". Often considered a subset of managerial accounting,its end goal is to advise the management on how to optimize business practices and processes based on cost efficiency and capability. Cost accounting provides the detailed cost information that management needs to control current operations and plan for the future.
In management accounting or managerial accounting,managers use accounting information in decision-making and to assist in the management and performance of their control functions.
This aims to be a complete article list of economics topics:
Financial statements are formal records of the financial activities and position of a business,person,or other entity.
An audit is an "independent examination of financial information of any entity,whether profit oriented or not,irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon." Auditing also attempts to ensure that the books of accounts are properly maintained by the concern as required by law. Auditors consider the propositions before them,obtain evidence,roll forward prior year working papers,and evaluate the propositions in their auditing report.
A financial audit is conducted to provide an opinion whether "financial statements" are stated in accordance with specified criteria. Normally,the criteria are international accounting standards,although auditors may conduct audits of financial statements prepared using the cash basis or some other basis of accounting appropriate for the organization. In providing an opinion whether financial statements are fairly stated in accordance with accounting standards,the auditor gathers evidence to determine whether the statements contain material errors or other misstatements.
An income statement or profit and loss account is one of the financial statements of a company and shows the company's revenues and expenses during a particular period.
In accounting,fair value is a rational and unbiased estimate of the potential market price of a good,service,or asset. The derivation takes into account such objective factors as the costs associated with production or replacement,market conditions and matters of supply and demand. Subjective factors may also be considered such as the risk characteristics,the cost of and return on capital,and individually perceived utility.
A financial analyst is a professional,undertaking financial analysis for external or internal clients as a core feature of the job. The role may specifically be titled securities analyst,research analyst,equity analyst,investment analyst,or ratings analyst. The job title is a broad one:in banking,and industry more generally,various other analyst-roles cover financial management and (credit) risk management,as opposed to focusing on investments and valuation;these are also discussed in this article.
Earnings management,in accounting,is the act of intentionally influencing the process of financial reporting to obtain some private gain. Earnings management involves the alteration of financial reports to mislead stakeholders about the organization's underlying performance,or to "influence contractual outcomes that depend on reported accounting numbers."
Financial modeling is the task of building an abstract representation of a real world financial situation. This is a mathematical model designed to represent the performance of a financial asset or portfolio of a business,project,or any other investment.
In the field of accounting,when reporting the financial statements of a company,accounting constraints are boundaries,limitations,or guidelines.
Foreign exchange risk is a financial risk that exists when a financial transaction is denominated in a currency other than the domestic currency of the company. The exchange risk arises when there is a risk of an unfavourable change in exchange rate between the domestic currency and the denominated currency before the date when the transaction is completed.
The following outline is provided as an overview of and topical guide to finance:
In business,overhead or overhead expense refers to an ongoing expense of operating a business. Overheads are the expenditure which cannot be conveniently traced to or identified with any particular revenue unit,unlike operating expenses such as raw material and labor. Therefore,overheads cannot be immediately associated with the products or services being offered,thus do not directly generate profits. However,overheads are still vital to business operations as they provide critical support for the business to carry out profit making activities. For example,overhead costs such as the rent for a factory allows workers to manufacture products which can then be sold for a profit. Such expenses are incurred for output generally and not for particular work order;e.g.,wages paid to watch and ward staff,heating and lighting expenses of factory,etc. Overheads are also a very important cost element along with direct materials and direct labor.
Simply stated,post-modern portfolio theory (PMPT) is an extension of the traditional modern portfolio theory (MPT) of Markowitz and Sharpe. Both theories provide analytical methods for rational investors to use diversification to optimize their investment portfolios. The essential difference between PMPT and MPT is that PMPT emphasizes the return that must be earned on an investment in order to meet future,specified obligations,MPT is concerned only with the absolute return vis-a-vis the risk-free rate.
The following outline is provided as an overview of and topical guide to accounting:
Downside risk is the financial risk associated with losses. That is,it is the risk of the actual return being below the expected return,or the uncertainty about the magnitude of that difference.
Ahmed Rashad Abdel-khalik is an American scholar who was born in Egypt. He is the V. K. Zimmerman Professor of International Accounting,Professor of Accountancy,and Director of the V. K. Zimmerman Center for International Education and Research in Accounting at University of Illinois at Urbana–Champaign.
References
- ↑ "Journal of Law, Finance, and Accounting - Editorial Board".
- ↑ "Joshua Ronen - Google Scholar".
- 1 2 "Joshua Ronen" (PDF).
- ↑ "Faculty Spotlight, News and Awards".
- ↑ "The Trueblood Study Group on the Objectives of Financial Statements (1971–73): A historical study" (PDF).
- ↑ "Social costs and benefits and the transfer pricing problem".
- ↑ Ronen, Joshua (1970). "Capacity and Operating Variances: An Ex Post Approach". Journal of Accounting Research. 8 (2): 232–252. doi:10.2307/2490109. JSTOR 2490109.
- ↑ Ronen, Joshua; Sadan, Simcha (1975). "Classificatory Smoothing: Alternative Income Models". Journal of Accounting Research. 13 (1): 133–149. doi:10.2307/2490652. JSTOR 2490652.
- ↑ "The rise and decay of entrepreneurship: A different perspective".
- ↑ "Policy reforms in the aftermath of accounting scandals".
- ↑ "US$5,000 Annual Manuscript Award".
| International | |
|---|---|
| National | |
| Academics | |
| Other | |
