article thumbnail

A new definition of accounting.

Martin Quinn

I am always keen to emphasise the communicative element of accounting – it is after all data, transposed to information, and information is of less value if not communicated. 2021) published a really great commentary on what accounting is. Recently Carnegie et al. A chicken and egg point perhaps, so let me put it another way.

article thumbnail

Accounting in farming

Martin Quinn

This made me think about what we teach (or do not) about accounting for farming. One might think it is something which should be covered in an accounting syllabus at university, but it in my experience it is not. As an accounting standard, it is not very complex, so teaching it is not much effort.

Account 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

An Essential Guide to Accounting and Basic Accounting Principles for Beginners

Snyder

It can be hard to keep up with new opportunities and technologies in our rapidly changing and evolving world, especially in a professional field such as accounting. Why is accounting important? What are basic accounting principles? What is accounting software? Basic accounting and its secrets. Contents: 1.

article thumbnail

Bookkeeping vs Accounting: What’s the Difference? How Should You Choose?

LyfeAccounting

Regardless of what happens to that 20 dollars next, these transactions have started bookkeeping and accounting processes. But a lot of people are still confused when it comes to bookkeeping vs accounting. At LYFE Accounting, we’ve helped companies with their bookkeeping and accounting processes. Why do I need them?

article thumbnail

Payments And Commerce: A Year In Quotes

PYMNTS

Your definition of accountability is to push this on your low-level employees. Have you fired any senior management, the people who actually oversaw this fraud? This is gutless leadership.”. — Elizabeth Warren (D-MA).

article thumbnail

Senator Warren To Wells CEO: Resign

PYMNTS

There were those few tiny details of the ongoing and egregious creation of fake consumer accounts that (we’ve learned) went on for years. Your definition of accountability is to push this on your low-level employees. Explain to the public: What does accountability look like when an executive departs with millions of dollars?”

Alabama 61
article thumbnail

Trump’s Mexico Wall To Be Built On Remittances?

PYMNTS

The impetus comes from the “know your customer” provision that has been part of the Patriot Act, and which has held financial institutions to demand proper documentation before opening accounts with customers or letting them conduct financial transactions.