See managerial accounting.
See managerial accounting.
A professional certification awarded to an accountant who has successfully completed the CMA Exam and has achieved the required work experience. The certified management accountant is recognized as a person with a strong...
What is the difference between financial accounting and management accounting? Author: Harold Averkamp, CPA, MBA Definition of Financial Accounting Financial accounting has its focus on the financial statements which are...
Accounting Careers Author: Harold Averkamp, CPA, MBA 24 Q&A Popular Recent What is the difference between financial accounting and management accounting? What is public accounting? What does an accountant do? What is...
The acronym for Institute of Management Accountants, an international organization dedicated to enhancing management accounting and financial management. It offers various programs and networking opportunities. IMA also...
The Certified Management Accountant (CMA) Exam is a 13-hour, four-part exam on business analysis, management accounting and reporting, strategic management, and business application. The exam is administered through IMA,...
What is managerial accounting? Author: Harold Averkamp, CPA, MBA Definition of Managerial Accounting Managerial accounting is also known as management accounting and it includes many of the topics that are included in...
. These external reports must be prepared in accordance with generally accepted accounting principles often referred to as GAAP or US GAAP. Examples of Management Accounting Another part of accounting focuses on...
of accounting? What are accrued expenses and when are they recorded? What is the difference between financial accounting and management accounting? What is retained earnings? What is the difference between stocks and...
Accounting Basics Author: Harold Averkamp, CPA, MBA 246 Q&A Popular Recent What is a general ledger account? What is the difference between accounts payable and accounts receivable? How do I calculate the amount of...
is the difference between financial accounting and management accounting? What is absorption costing? What is the difference between product costs and period costs? What is the difference between an implicit cost and an...
A subgroup of the supporting activities of a nonprofit organization. This functional expense classification is used to report the overall management of the nonprofit organization other than the direct expenses of...
Using the information generated in activity-based costing to plan and control activities and processes.
A section of a publicly traded corporation’s annual report to the SEC (Form 10-K). This section contains extensive information from management about the corporation’s financial condition and its operations.
What is cost accounting Author: Harold Averkamp, CPA, MBA Definition of Cost Accounting Cost accounting is involved with the following: Determining the costs of products, processes, projects, etc. in order to report the...
be allocated to the cost of products manufactured in order to properly value inventories on a manufacturer's balance sheet. True Wrong. SG&A and interest expenses are not allocated to inventories for financial...
and financial accounting concepts make this platform an invaluable resource. As someone who has navigated the intricacies of project management, I have consistently recommended AccountingCoach to colleagues and peers...
See Public Company Accounting Oversight Board (PCAOB).
Present value.
The collection of money (currency, coins, checks). Not to be confused with revenues.
See inventory: work-in-process (WIP).
A company might construct a building and then sell the building to an investor who in turn leases the building back to the company.
See variable manufacturing overhead spending variance.
See discounted cash flow model.
The accounting guideline requiring amounts in the accounts and on the financial statements to be the actual cost rather than the current value. Accountants can show an amount less than cost due to conservatism, but...
The Roman numerals that indicate 1,000,000.
This loss is not an extraordinary item, since it is not unusual in nature. However, it can appear as a separate line item in the main portion of the income statement. It will be reported at its gross amount (not net of...
The book value of an asset is the amount of cost in its asset account less the accumulated depreciation applicable to the asset. The book value of a company is the amount of owner’s or stockholders’ equity....
A bond with collateral.
See quality of earnings.
A financial statement that reported the changes in a company’s working capital. The funds flow statement has been replaced by the statement of cash flows.
The discounted value of a series of equal amounts occurring at the end of each equal time interval. To learn more, see our Present Value of an Ordinary Annuity Outline.
This classification of net assets has been replaced by the FASB with the classification net assets with donor restrictions.
In the equation of a straight line, y = a + bx, ‘bx’ is the total variable cost resulting from the variable cost rate ‘b’ multiplied times the quantity ‘x’.
This current liability account reports the amount a company owes the state and federal governments as of the balance sheet date for the employer’s unemployment tax based on the governments’ rates and the...
small business finances Watch the Video Featured Review "I am so thankful to have found the information I needed at AccountingCoach. Several years ago I became the corporate finance vice president for a new public...
management experience, but little 'hands on' accounting needed to set up the financial system and to keep the books. AccountingCoach's clear, straight-forward explanations were exactly the review material...
Journals other than the general journal. Special or specialized journals include the cash receipts journal, the cash disbursements journal, the purchases journal, and the sales journal.
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