Principles of Accounting Books

About Principles of Accounting Books

This course is an introduction to the basic concepts and standards underlying financial accounting systems. Several important concepts will be studied in detail, including: revenue recognition, inventory, long-lived assets, present value, and long term liabilities. The course emphasizes the construction of the basic financial accounting statements - the income statement, balance sheet, and cash flow statement - as well as their interpretation. This course focuses on the process of auditing financial statements. It also includes discussions of the accounting concepts, profession, its regulatory and legal liability environments, plus the need for the audit function, professional standards and conduct.

Strategic Cost Analysis is the process of analyzing and managing costs in order to improve the strategic position of the business. This goal can be accomplished by having a thorough understanding of which activities and costs support an organization's strategic position and which activities and costs either weaken it or have no impact. Subsequent cost management efforts can then focus on reducing or limiting expenditures on activities that add little or no strategic value, while increasing expenditures on activities that support the strategic position of the organization. Performance can then be evaluated to ensure that the chosen actions are taken, and that these actions are yielding improved strategic performance. Throughout the course, a strategic cost analysis and management framework will be applied across functions and organizations to highlight the cost analysis and performance evaluation methods available to forecast financial performance and improve strategic position.

What Are Accounting Principles?

Accounting principles are the rules and guidelines that companies and other bodies must follow when reporting financial data. These rules make it easier to examine financial data by standardizing the terms and methods that accountants must use.

The International Financial Reporting Standards is the most widely-used set of accounting principles, with adoption in 166 jurisdictions. The United States uses a separate set of accounting principles, known as the Generally Accepted Accounting Principles (GAAP).

Understanding Accounting Principles

The ultimate goal of any set of accounting principles is to ensure that a company's financial statements are complete, consistent, and comparable. This makes it easier for investors to analyze and extract useful information from the company's financial statements, including trend data over a period of time. It also facilitates the comparison of financial information across different companies. Accounting principles also help mitigate accounting fraud by increasing transparency and allowing red flags to be identified.

THE APPLICATION IS FREE. Appreciate and appreciate Us with 5 stars.

Aspasia Apps is a small developer who wants to contribute to the advancement of education in the world. Appreciate and appreciate us by giving the best stars. We expect your constructive criticism and suggestions, so that we will continue to develop this Comprehensive Leadership and Management Learning application for free to people in the world.

Copyright Icons
Some icons in this application are sourced from www.flaticon.com . For more information, please read more in the application Copyright Icon section.

DISCLAIMER :
Content like Articles, Pictures and Video in this application were collected from all over the web, so if I have violated your copyright, please let me know and it will be removed as soon as possible. All copyrights and trademarks are owned by their respective owners. This app is not endorsed by or affiliated with any other affiliated entities. All images used in this app are believed to be in public domain. If you own rights to any of the images, and do not wish them to appear here, please contact us and they will be removed.