Simplifying accounting fundamentals

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Debits and Credits

Debits (Dr.) and credits (Cr.) are used to ensure inflows and outflows of transactions (assets/liabilities) are always balanced. In order...

Using your Financial Calculator

You may be using a calculator for your work or while studying for your CPA Exams (CFE exams). Understanding how to make full use of your...

Analyzing Financial Issues

When analyzing financial case studies, always break them down into smaller issues, which can then be addressed individually. If you are...

Accounting Standards

There are a variety of different ways to present financial information worldwide. We need to know which standard we are using when...

Financial Reporting: Assumptions and Characteristics

There is no point in creating financial statements if they are not useful to readers. Financial statements should therefore abide by a...

Financial Statements: Overview

Countries often have their own unique standards for presenting financial information. While accounting standards vary from country to...

Measuring Elements of a Financial Statement

Items on a financial statement can be measured using a variety of different methods, described below. Throughout the learning material,...

Capital Maintenance

Capital maintenance is a concept which measures whether either financial capital (money and equivalents) or physical productive capital...

Concept of Control

Over the next couple of articles, we will review how certain types of transactions are recorded for financial reporting purposes. How we...