The Financial Accounting Standards Board (FASB) is an independent organization that establishes the acceptable accounting standards. FASB’s has a set process involving ten steps for setting accounting standards. The process is designed to facilitate continuous improvement of accounting standards and incorporating a variety of viewpoints from stakeholders (FASB, n.d.). The...

The accounting field is and has always been a sensitive one area of specialization. Therefore, accountants are expected to act in an ethical manner. One of the most pressing issues in this field is fraud control. Fraudsters do not necessarily have to be accountants. Anyone that has access to an...

Managerial Accounting is a discipline that deals with financial information that is vital for an organization to make efficient decisions. Primarily, managerial accounting handles aspects such as budgetary development and asset and cost management. In addition to that, Managerial accounting deals with the preparation of an organization’s financial report to...

Step One: Identify interests and related Job TitlesMy dream job is to become an investment banker for Wells Fargo. In essence, this the kind of job that I prefer because of my personality. Firstly, I consider that I am an introvert. This is mainly because I tend to work best...

Discuss the fundamentals risk and control issues associated with fixed assets that are different from raw materials and finished goodsTrainor (2007) outlines that, due to the high capital invested in the acquisition of the fixed asset and their extended timeframe of usage, they have greater risks of purchase and usage...