What is financial window dressing?

Financial managers can do certain things to increase or decrease net income that's recorded in the year. This is called profit smoothing, income smoothing...

Disclosure

Financial statements are the backbone of a complete financial report. In fact, a financial report is not complete if the three primary financial statements...

What happened in corporate accounting scandals?

What happened in corporate accounting scandals? When a corporation deliberately conceals or skews information to appear healthy and successful to its shareholders, it has committed...

What happened at Enron?

What happened at Enron? Everyone knows at least a little about the Enron story and the devastation it created in the lives of is employees....

What is the Sarbanes-Oxley Act?

What is the Sarbanes-Oxley Act? The Sarbanes-Oxley Act of 2002 is a United States federal law passed in response to the recent major corporate...

Who uses forensic accountants?

Who uses forensic accountants? Forensic accounting financial investigative specialists work with financial information for the purpose of conveying complicated issues in a manner that others...

What is forensic accounting?

What is forensic accounting? Forensic accounting is the practice of utilizing accounting, auditing, and investigative skills to assist in legal matters. It encompasses 2...

What are auditors?

What are auditors? Accountants and auditors help to ensure that the Nation's firms are run efficiently, its public records kept accurately, and its taxes paid...

What is the FASB?

The FASB is one organization that provides standardized guidelines for financial reporting. The mission of the Financial Accounting Standards Board (FASB) is to establish...

Managing the Bottom Line

If you don't keep track of how much money you're making, you have no idea whether your business is successful or not. You can't...