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Accounting In Ireland
Accounting, also known as accountancy, is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms. Accounting can be divided into several fields including financial accounting, management accounting, tax accounting and cost accounting. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers; and management accounting focuses on the measurement, ana ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Measurement
Measurement is the quantification (science), quantification of variable and attribute (research), attributes of an object or event, which can be used to compare with other objects or events. In other words, measurement is a process of determining how large or small a physical quantity is as compared to a basic reference quantity of the same kind. The scope and application of measurement are dependent on the context and discipline. In natural sciences and engineering, measurements do not apply to Level of measurement#Nominal level, nominal properties of objects or events, which is consistent with the guidelines of the ''International vocabulary of metrology'' published by the International Bureau of Weights and Measures. However, in other fields such as statistics as well as the Social Sciences, social and behavioural sciences, measurements can have Level of measurement, multiple levels, which would include nominal, ordinal, interval and ratio scales. Measurement is a cornersto ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bookkeeping
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business and other organizations. It involves preparing source documents for all transactions, operations, and other events of a business. Transactions include purchases, sales, receipts and payments by an individual person or an organization/corporation. There are several standard methods of bookkeeping, including the single-entry and double-entry bookkeeping systems. While these may be viewed as "real" bookkeeping, any process for recording financial transactions is a bookkeeping process. The person in an organisation who is employed to perform bookkeeping functions is usually called the bookkeeper (or book-keeper). They usually write the '' daybooks'' (which contain records of sales, purchases, receipts, and payments), and document each financial transaction, whether cash or credit, into the correct daybook—that is, petty cash book, suppliers ledger, customer ledger, e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IFRS Foundation
The International Financial Reporting Standards Foundation or IFRS Foundation (sometimes IFRSF) is a nonprofit organization that oversees financial reporting standard-setting. Its main objectives include the development and promotion of the International Financial Reporting Standards (IFRS), through the International Accounting Standards Board (IASB) for accounting standards and the International Sustainability Standards Board for sustainability-related standards (the latter known as IFRS-S). The IFRS Foundation states that its mission is to develop IFRS Standards that bring transparency, accountability and efficiency to financial markets around the world, and that their work serves the public interest by fostering trust, growth and long-term financial stability in the global economy.IFRS Foundation, 2018About the IFRS Foundation and the IASB Retrieved on June 20, 2018. The foundation is governed by a group of 22 trustees,Deloitte Global Services Limited, 2012IFRS Foundation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Financial Reporting Standards
International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). They constitute a standardised way of describing the company's financial performance and position so that company financial statements are understandable and comparable across international boundaries. They are particularly relevant for companies with shares or securities listed on a public stock exchange. IFRS have replaced many different national accounting standards around the world but have not replaced the separate accounting standards in the United States where U.S. GAAP is applied. History The International Accounting Standards Committee (IASC) was established in June 1973 by accountancy bodies representing ten countries. It devised and published International Accounting Standards (IAS), interpretations and a conceptual framework. These were looked to by many national accounting standard-se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Convergence (accounting)
The convergence of accounting standards refers to the goal of establishing a single set of accounting standards that will be used internationally.FASB, 2012International Convergence of Accounting Standards—Overview Retrieved on April 27, 2012. Convergence in some form has been taking place for several decades, and efforts today include projects that aim to reduce the differences between accounting standards. Convergence is driven by several factors, including the belief that having a single set of accounting requirements would increase the comparability of different entities' accounting numbers, which will contribute to the flow of international investment and benefit a variety of stakeholders. Criticisms of convergence include its cost and pace, and the idea that the link between convergence and comparability may not be strong. Overview The international convergence of accounting standards refers to the goal of establishing a single set of high-quality accounting standards to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
