Tag Archives: Accounting

Fraud Basics for Accountants

fraud basics for accountants

It’s important that accountants know what to look for when identifying fraud and how to deal with the various kinds of fraud. All accountants need to know their fraud basics. Accountants need to always keep an eye out for fraud. Fraud can be committed by anyone- employees, consumers, organizations, individuals,… Read more »

Bankruptcy Basics for Forensic Accountants

bankruptcy

Bankruptcy is important for forensic accountants and auditors to understand. It’s also a niche that can differentiate an accountant as a specialist. Bankruptcy is a complex process many accountants come across in their work and a niche expertise that can help differentiate accountants in their market. That’s why we’ve created… Read more »

How to Evaluate Internal Controls –for Accountants        

evaluate internal controls

Accountants must know how to evaluate internal controls. Here’s a brief outline of what internal controls are and the COSO Framework for internal controls. Accountants need to know how to explain their methods for evaluating internal controls and recognize different types of deficiencies that can be present in organizations’ internal… Read more »

Industries That Generate High Profit Margins

high profit margins

Whoever invented Doritos was a genius. I love my Doritos, and I’d be willing to pay more for them, if necessary. How much more? I’m not sure, but if the price went up 50 cents for a bag, I might be able to live with it. We all have products… Read more »

What is the Hardest Truth of Economics?

Complexity can kill. I saw it 20 years ago, and I’m seeing it today, and it’s one of three hard truths about economic and finance. Here’s what I mean: So I was working out at the gym last November, and CNBC had yet another story on Coinbase, which is a… Read more »

8 Knowledge Areas Every Accountant Needs to Know in 2018

Areas of Interest for accountants

The technological and regulatory climates are changing, accountants today require an understanding of standard practices as well as new areas of knowledge. Accounting is not a new profession. However, with continual technological advances, it’s important that today’s accountants have extensive knowledge about standard practices as well as expertise in new… Read more »

Cash flow tools you must use- even if you’re consistently profitable

“I’m sorry- I’ll have to check with my manager.” Well, that’s odd, I thought to myself. I was in a bank teller line about 15 years ago, cashing a check from a fairly new client. I’d been paid 2-3 time before, but I’d simply deposited the cash at my bank…. Read more »

Little Known Factors That Impact Inventory

  What happened to my cash? This is a common question that business owners ask themselves all the time. Say, for example, that you invest $30,000 in cash into your business. Three months later, your cash balance is down to $10,000. If you’ve been generating a profit, the lower cash… Read more »