Sunk costs are usually defined as previously incurred costs that are not recoverable and should not be taken into account in decision making. Here is a slightly modified example of a sunk cost from Je

While attending a recent annual conference I ran into Jim-just as I do each and every year. Jim is short and stout, usually a little disheveled but typically with a jovial attitude-A Santa Claus with

Microsoft Excel spreadsheets are an indispensable tool for accountants, being widely used to create financial statements as well as to produce many other types of financial reports including budgets,

Certified Public Accountant (CPA) is a designation offered to qualified accountants, who have passed the Uniform Certified Public Accountant Examination in the United States and have the required stat

Retirement plans are one of the most valuable benefits that an employer can offer to attract and retain highly qualified employees. CPAs offer a wide variety of retirement plans that are designed spec

A companys financial position indicates the amount of resources that they have, and also the claims against those precious resources at any time. Claims can also be referred as equities. So, a compan

All of us need to grapple with accounting whether we like or not. From managing your personal finance to running a corporation, there is no escaping accounting. It might seem very complex and overwhe

Accounting does not end with recording transactions. The owner or the management needs useful information about whether the business made a profit or loss or how the financial position at the end of

When you learn something new like accounting concepts and terms, it helps to create links between what you know and what you are trying to learn. In some ways, it is like learning a second language and decoding the new word is part of the learning process. For example, trying to translate the Spanish word necesario you might brainstorm with necessary - and you would be right.

With so many bad things happening in our society today, it is important to obtain safety measure needed to protect our lives, our business, or simply the things we own. That is why a lot of people are