Author name: accounting

Mark-to-market accounting , also known as fair value accounting, is a method of valuing assets and liabilities at their current market price rather than their original purchase cost. Unlike historical cost accounting, which reports the price paid when an asset was acquired, fair value accounting continually adjusts values to reflect market conditions. This approach aims to present a more realistic and timely picture of a company’s financial position. In practice, modern accounting standards like U.S.… Read more

In modern accounting, professional judgment is both an art and a necessity. As global standards like IFRS (International Financial Reporting Standards), US GAAP (Generally Accepted Accounting Principles), and IPSAS (International Public Sector Accounting Standards) increasingly emphasize principles over prescriptive rules, accountants and auditors must apply seasoned judgment to faithfully represent complex transactions. Principle-based standards provide a high-level framework, but they rely on professionals to interpret and apply the guidance to real-world scenarios.… Read more

The world of audit and accounting is growing in complexity and scrutiny. Professionals face intricate financial systems, evolving regulations, and high expectations from stakeholders. In this environment, structured problem-solving has emerged as an essential skill and approach. A survey by the World Economic Forum identified structured problem-solving as one of the most critical skills in the modern workplace – yet it is a skill often in short supply. In audit and accounting work, where accuracy and sound judgment are paramount, the ability to tackle issues methodically can make the difference between failure and success.… Read more

Transitioning from a public accounting firm to a private (industry) accounting role is one of the most significant career moves an accountant can make. Whether you’re a first-year auditor feeling burned out from busy season or a seasoned manager craving new challenges beyond client service, moving into industry is a pivotal decision. Public accounting – including audit, tax, assurance, and advisory services – provides a strong foundation of technical skills, work discipline, and diverse experiences.… Read more

The global accounting profession is facing an unprecedented talent shortage that threatens to disrupt businesses and economies worldwide. From small businesses struggling to find bookkeepers to multinational corporations delaying financial reports due to lack of qualified staff, the signs of strain are evident across industries. Demand for accounting expertise has never been higher – fueled by complex financial regulations, rapid business growth in emerging markets, and new challenges like environmental and social reporting – yet the supply of accountants is dwindling.… Read more

Let’s be honest—when you first look at the ACCA syllabus, it can feel like staring up at a mountain shrouded in fog. Thirteen exams. Countless standards. Complex calculations. Real-world case studies that demand more than just textbook knowledge. It’s not just a test of what you know—it’s a test of how you think, how you manage pressure, and how you turn theory into action. But here’s the truth: passing the ACCA isn’t about being the smartest person in the room.… Read more