8 Reasons why do you need Accounting Standards

With the financial industry becoming highly internationalised and sophisticated, investments across countries are becoming highly prevalent. To keep up the coherence of the industry, it has become an absolute necessity for the financial reports to be impeccably consistent and compliant with the accounting standards so that investors and analysts can depend on them. The primary advantage of accounting standards is providing precise information through different financial statements in such a way so that it remains comprehensive for all the stakeholders across the industry.   Attribution: The icons has been designed using resources from ...Read More

Is Accounting competitive? 4 Truths About Accounting Career

So, you are interested in accounting. You want to embrace this career. However, you are uncertain about the growth possibilities. Accounting can be exciting and fun. If you believe that you can meet the job demands, you can give it a try. You will need some specific skills for this job. It can be the best career if you have an interest in mathematics and business. Also, you will have the option to explore different industries. You can start with an entry-level job that ranges from data entry to financial analysis. With experience, you can ...Read More

Is Accounting Fun or Boring? 8 Reasons Why Accounting Is Fun

If you ever wanted to pursue a career in accounting and wonder if it is worth the try, you’re on the right page. In this article, we will take a closer look into accounting and discuss some top reasons why you should consider pursuing this profession. Accounting is fun for anyone who is into logical thinking and has an affinity for mathematics and business.  Ideally, jobs in this profile are best suited for organised candidates who are driven to help businesses run efficiently. If you are choosing accounting as a profession, you need to understand ...Read More

6 Reasons Why Accountants Should Learn to Code

Should accountants learn to code? Yes. This is because both coding, which involves the use of programming language, and accountant feature arithmetic and analytical properties. Accounting mainly features patterns that relate to capturing, storing, managing, and analysing data. Accountants also work with systems such as payroll, cash flow, assets, and accounts receivables/payable among others. all these are related to programming because for these systems to run, they must be programmed first. Attribution: The icons has been designed using resources from So, a combination of accounting and programming skills can help to significantly ...Read More

Finance vs Accounting – Which Should You Study?

If your career interest lies in dealing with numbers, you're probably on the lookout for a degree in a relevant field. While some guides may recommend you take up finances, others may suggest an accounting course. So, which one is best for you? Accounting, in an organisation, deals with the information behind financial transactions. Finance, on the other head, is the management of these transactions. While accounting majorly involves record-keeping, finance is about planning. Attribution: The icons has been designed using resources from   Major Differences Between Accounting and Finance Careers Now ...Read More

5 Limitations of Profitability Ratios

Profitability ratios analysis is a good way for measuring the performance of a company. It is the reason how businesses know if their capital allocation is right. Of course every positive has its negatives. Let us focus on its limitations in this post. The main limitation of profitability ratios is that they are focused on the business performance generally in terms of income and expenses for a specific period of time. It disregards the financial strength of the business and the overall long-term outlook.   This means using other ratios along profitability ratios is important ...Read More

Is Accounting a good job for the future?

Are you a logical thinker? Do you find finance, math, and business interesting? Do you like helping people to stay organized and help businesses run efficiently and effectively? Then accounting may be the right career to pursue. But "wait," you might ask, "what about future job prospects of going through this path?" That is a valid concern with any professional pursuit, especially since the modern economy changes rapidly and considerably. In some cases, jobs, products and entire fields (film developers, anyone?) disappearing in short order. When it comes to accounting, you can rest assured that ...Read More

Will Accounting Be Automated? 4 Reasons Why It Is Hard?

Since the industrial revolution, there have been numeral technological evolutions that have altered jobs. Technology has led to the systemisation and automation of jobs, which constantly threatens employees. It leads us to ask ourselves whether accounting can be automated by technology and whether your career is at risk? Will Accounting Be Automated? Different studies indicated that accounting has a high chance of being automated. In contrast, others simply show lower chances due to the complication of accounting. Optimists still hold on to the option that accounting is a pretty safe career that is not at ...Read More

Relationship between Management and Financial Accounting

Management and financial accounting provide two approaches that are used for the purpose of monitoring, recording and explaining financial data. In a simplified language, financial accounting is defined as the process of recording the assets, liabilities, expenses and revenues that are linked to business operations. Management accounting refers to the application of accounting and numerical methods to generate and interpret information that aims to help management in its role of promoting utmost efficiency, enabling future plans and assessing their implementation.   Attribution: The icons has been designed using resources from   Relationship ...Read More

Is Accounting an Art or a Science?

The controversy about whether accounting is a science or an art has been a topic of debate many times, but nowadays is something perfectly defined; it's not a matter of adopting an eclectic position, but having clear concepts. Then... Is accounting an art or a science? The answer is simple: we can consider the different processes and methods used in accounting as science, and the processes of analysis and decision making as art. It has the taste of both worlds. There are a series of scientific methods that govern accounting in the way it's performed, ...Read More