Finance FAQs

Who is considered the father of accounting?
Generally, Luca Pacioli is considered the father of accounting. For more information about him and double entry system he developed, go to the link below at answers.com ...... More »
What is the Importance of accounting standards?
Financial statements are prepared to summarize all business activities by an enterprise during an accounting period in monetary terms & report financial outcomes in terms of performance, status of assets, liabilities, & flow of cash. These...... More »
What is DD and A in oil and gas accounting?
DD&A stands for Depreciation, depletion & amortization. ...... More »
What is the definition of accounting?
The theory and system of setting up, maintaining, and auditing the books of a firm; art of analyzing the financial position and operating results of a business house from a study of its sales, purchases, overhead, etc. ...... More »
What is partnership accounting?
A business can be a corporation, a partnership, or a sole proprietorship. A corporation is incorporated at the state level. A sole proprietorship is one person in business. A partnership is two or more persons with an agreement on who has which as...... More »
What is Control in Accounting?
A control is some type of device or procedure that attempts to limit the possibility of a transaction to be manipulated. What are different Branches of accounting? For information, accounting field could be divided into a few br...... More »
What is the meaning of Scrap Value in accounting?
Scrap value is the residual value of an asset. The value of an asset which exists after its estimated life period ...... More »