Accounting

Cost accounting, once considered a back-office function focused primarily on manufacturing overheads and product costing, has evolved into a critical component of strategic decision-making in the modern economy. In today’s highly competitive, technology-driven business landscape, understanding cost behavior, allocating resources efficiently, and evaluating profitability across products, services, and segments are more important than ever. This article explores the development, methodologies, applications, and challenges of cost accounting in the 21st century, highlighting how businesses use cost data to gain competitive advantage and optimize performance.… Read more

Forensic accounting has become one of the fastest-growing specialties in the fields of accounting and finance. In an age where financial crime, cyber fraud, and corporate misconduct are on the rise, forensic accountants serve as critical investigators and expert witnesses, uncovering financial discrepancies and presenting evidence in legal contexts. This article explores the evolution of forensic accounting, its tools and techniques, landmark case studies, and its growing role in both the private and public sectors.… Read more

Public debt is a critical tool for governments to finance infrastructure, respond to economic shocks, and support development. Yet rising debt levels globally—exacerbated by pandemic stimulus, inflationary pressures, and geopolitical instability—have renewed concerns over fiscal sustainability. This article explores the economics of public debt, evaluates debt sustainability indicators, examines risks for advanced and emerging economies, and outlines reform strategies for maintaining debt within safe limits. Understanding Public Debt and Its Composition Public debt refers to the total financial liabilities owed by the government, typically divided into: Domestic debt: Borrowed from local markets in local currency (e.g.,… Read more

As climate change becomes an increasingly material risk for corporations, investors, and governments, the field of accounting is undergoing a major transformation. Climate-related financial risks—ranging from extreme weather disruptions to carbon pricing and stranded assets—are now recognized as significant factors influencing a company’s financial position. This article explores how climate risk is being integrated into financial reporting, the emergence of climate disclosure frameworks, and the accounting standards evolving to meet this global challenge.… Read more

In recent years, Environmental, Social, and Governance (ESG) reporting has transformed from a voluntary, peripheral disclosure to a central pillar in corporate transparency. As stakeholders increasingly demand non-financial metrics to assess long-term value and sustainability, ESG disclosures have become crucial to both investor decision-making and regulatory oversight. This shift presents both opportunities and challenges for financial auditors, who must navigate uncharted territory in assuring the credibility of ESG-related information. Understanding ESG Reporting: Frameworks and Evolution ESG reporting refers to the disclosure of qualitative and quantitative data related to a company’s environmental impact, social contributions, and governance structure.… Read more