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Accounting is the foundation of all business. An accountant provides information that is used by management in decision making. In addition, the image of a company is defined by its financial statements. Investors and managers are kept informed by the work product of the accountant when they decide on things like expansion and/or acquisition. A company’s financial statements are examined by banks when they make decisions on lending capital. Accounting is an ancient skill. In the area of the Tigris and Euphrates Rivers, (present day Iraq), archaeologists have discovered cuneiform tablets that served as accounting tools.
Accountants are responsible for activities other than bookkeeping. An accountant may be an essential member of a team deliberating efficacy of mergers and acquisitions, may investigate and implement tax strategies, assist in setting up health care benefit programs, calculate costs and benefits of new technologies and track the financial progress of the company. They are responsible for reports to stockholders.
At a lower accounting level, there is the bookkeeper, who maintains day-to-day records in an office environment. The bookkeeper keeps track of money coming in, money paid out, payroll, tax information, bank statements, company ledgers, company assets and documents like real estate deeds and investment records.
When an outside agency assists in the accounting function it is usually for the purpose of auditing. An accountant inspects the company’s books for accuracy, and examines documents like bank statement to see if they back up the figures in the ledgers. When figures do not match, it is the auditor’s responsibility to discover the reason for the discrepancy. Internal auditors evaluate their company’s financial statements and guard against waste, fraud and inefficiency.
DISCLAIMER: The materials contained on this web site are provided for information only and do not constitute accounting advice. Contact with this web site does not establish an accountant-client relationship.
Pittsburgh Accounting Headlines
The University of Otago has questioned the inclusion of $900,000 the Dunedin City Council spent on the western wall of Forsyth Barr Stadium as "unexpected costs", saying it was part of the council's budget for the project "from day 1". The council shared the cost of the $1.8 million wall, which separates the university building and the western side ... (more)
HollyFrontier Corp : HolyFrontier was removed from Deutsche Bank's short-term buy list due to an automatic time demotion.
SAN FRANCISCO, May 17, 2012 /PRNewswire/ -- NetSuite SuiteWorld 2012 - NetSuite Inc., , the industry's leading provider of cloud -based financials / ERP software suites, announced today that Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd, has become a NetSuite System Integrator .
The Australian arm of global firm PricewaterhouseCoopers has been named the country's top employer for LGBT people in 2012.
Intuit , which is well positioned to take advantage of the migration of small business to the cloud, is scheduled to report fiscal third-quarter 2012 results tomorrow, May 17, after the end of the trading day.
Tielei Wang discovered that OpenOffice.org does not allocate a large enough memory region when processing a specially crafted JPEG object, leading to a heap-based buffer overflow and potentially arbitrary code execution.
Hash: SHA512 CVE-2012-2334 Vulnerabilities related to malformed Powerpoint files in OpenOffice.org 3.3.0 Reference: http://www.openoffice.org/security/cves/CVE-2012-2334.html Severity: Important Vendor: The Apache Software Foundation Versions Affected: OpenOffice.org 3.3 and 3.4 Beta, on all platforms.
The emergence of Chinese banks is well documented but soon it will be the country's accounting firms that rise to global prominence.
Board of Directors and Auditors Re-election of Mikael Ekdahl, the company's President and CEO Anders Davidsson, Christian W. Jansson, Ulrika Eriksson, Stphane Hamelin and Eric Joan as ordinary board members.
Brookdale Senior Living, Inc. - SWOT Analysis company profile is the essential source for top-level company data and information.
Jamaica Beverages Limited took possession of the assets of Jamaica Citrus Growers Limited on May 4, but the parties have three months to close the sale, says agent Wilfred Baghaloo.
OLD audit report by PricewaterhouseCoopers into the refurbishing of the City of Windhoek's bus fleet unearthed a cocktail of irregularities, but no action has been taken against the culprits.
BusinessDesk Kiwi Income Property Trust'sA flagship Silvia Park shopping centre in Auckland saw its value rise 5.8 percent to $500 million.
Samuel N. Gallo as its new chief investment officer. The organization has roughly $949 million in total assets under management.
EnhancedGraphicExportDialogs is an OpenOffice.org add-on that provides a new options dialog when you export slides or selections from OpenOffice.org Impress or OpenOffice.org Draw to either PNG, JPG or GIF bitmap files.
Do you think you'll ever be able to afford to retire? In last week's Queen's Speech, plans were outlined to link the state pension age to longevity, after increasing it to 67 by 2028.
Recovering its balance after a dangerous stumble, the footwear company recently passed the $1 billion revenue mark and sees double that ahead.
Fluffeh writes "Yesterday the Australian Division of GAME saw an email from their Marketing Manager confirming that the 95-store chain has gone into voluntary administration .
TORONTO, ONTARIO, May 14, 2012 -- Today, Dress for Success Toronto and its title sponsor, KPMG LLP are pleased to announce the kick-off of the 2012 Bay Street Suit Challenge .
Opponents of Maryland's same-sex marriage law are collecting signatures, trying to get a referendum on the November ballot to overturn it before it takes effect.
