Accounting

Sunday, 16 December 2012

Debits and Credits (Financial Accounting Series)

The FIFO Method for Inventory Costing (Financial Accounting Series)

Keiser Report: Hollywood Accounting (E377)

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Baghdad
Baghdad (Arabic: بغداد‎, Baġdād, IPA: [bæɣˈdæːd]) is the capital of Republic of Iraq, as well as the coterminous Baghdad Province. The population of Baghdad as of 2011 is approximately 7,216,040, making it the largest city in Iraq, the second largest city in the Arab World (after Cairo, Egypt), and the second largest city in Western Asia (after Tehran, Iran).
Located along the Tigris River, the city was founded in the 8th century and became the capital of the Abbasid Caliphate. Within a short time of its inception, Baghdad evolved into a significant cultural, commercial, and intellectual center for the Islamic World. This in addition to housing several key academic institutions (e.g. House of Wisdom) garnered the city a worldwide reputation as the "Center of Learning". Throughout the High Middle Ages, Baghdad was considered to be the largest city in the world with an estimated population of 1,200,000 people. The city was largely destroyed at the hands of the Mongol Empire in 1258, resulting in a decline that would linger through many centuries due to frequent plagues and multiple successive empires. With the recognition of Iraq as an independent state (formerly the British Mandate of Mesopotamia) in 1938, Baghdad gradually regained some of its former prominence as a significant center of Arabic culture.

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Birmingham, Alabama
Birmingham ( /ˈbɜrmɪŋhæm/ BUR-ming-ham) is the largest city in Alabama. The city is the county seat of Jefferson County. According to the 2010 United States Census, Birmingham had a population of 212,237. The Birmingham-Hoover Metropolitan Area had a population of about 1,128,047 according to the 2010 Census, which is approximately one-quarter of Alabama's population.
Birmingham was founded in 1871, just after the American Civil War, through the merger of three pre-existing farm towns, notably, former Elyton. It grew from there, annexing many more of its smaller neighbors, into an industrial and railroad transportation center with a focus on mining, the iron and steel industry, and railroading. Birmingham was named for Birmingham, one of the major industrial cities of the United Kingdom. Most of the original settlers who founded Birmingham were of English ancestry. The city was planned as a place where cheap, non-unionized, and African-American labor from rural Alabama could be employed in the city's steel mills and blast furnaces, giving it a competitive advantage over industrial cities in the Midwest and Northeast.

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Cedar Rapids, Iowa
Cedar Rapids ( /ˈsiːdər ˈræpɨdz/) is the second largest city in Iowa and is the county seat of Linn County. The city lies on both banks of the Cedar River, 20 miles (32 km) north of Iowa City and 100 miles (160 km) east of Des Moines, the state's capital and largest city. City hall and the Linn County Courthouse are located on Mays Island in the Cedar River; Cedar Rapids is one of few cities in the world with governmental offices on a municipal island.
A flourishing center for arts and culture in Eastern Iowa, the city is home to the Cedar Rapids Museum of Art, the National Czech & Slovak Museum & Library, the Paramount Theatre, Theatre Cedar Rapids, and the Iowa Cultural Corridor Alliance. Cedar Rapids is an economic hub of the state, located in the core of the Interstate 380 Cedar Rapids/Iowa City Technology Corridor of Linn, Benton, Jones, Johnson, and Washington counties. The estimated population of the three-county Metropolitan Statistical Area, which includes the nearby cities of Marion and Hiawatha, was 255,452 in 2008. As of the 2010 United States Census, the city population was to 126,326. Cedar Rapids has been residence to famous figures for the United States, including American Gothic painter Grant Wood, journalist and historian William L. Shirer, writer and photographer Carl Van Vechten, and aerodynamics pioneer Dr. Alexander Lippisch. In the 1990s and 2000s, Hollywood would feature several Cedar Rapidians including actors Bobby Driscoll, Ashton Kutcher, Elijah Wood and Ron Livingston. The area has also produced a number of professional athletes such as Ryan Sweeney, Trent Green, and Kurt Warner. The city is also the setting for a musical, The Pajama Game and the comedy film Cedar Rapids.

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Florentine
Florence (Italian: Firenze [fiˈrɛntse] ( listen), alternate obsolete form: Fiorenza; Latin: Florentia) is the capital city of the Italian region of Tuscany and of the province of Florence. It is the most populous city in Tuscany, with approximately 370,000 inhabitants, expanding to over 1.5 million in the metropolitan area.
Florence is famous for its history. A centre of medieval European trade and finance and one of the wealthiest cities of the time, Florence is considered the birthplace of the Renaissance, and has been called the Athens of the Middle Ages. A turbulent political history includes periods of rule by the powerful Medici family, and numerous religious and republican revolutions. From 1865 to 1870 the city was also the capital of the recently established Kingdom of Italy.
The historic centre of Florence attracts millions of tourists each year, and Euromonitor International ranked the city as the world's 72nd most visited in 2009, with 1,685,000 visitors. It was declared a World Heritage Site by UNESCO in 1982. Due to Florence's artistic and architectural heritage, it has been ranked by Forbes as one of the most beautiful cities in the world, and the city is noted for its history, culture, Renaissance art and architecture and monuments. The city also contains numerous museums and art galleries, such as the Uffizi Gallery and the Pitti Palace, amongst others, and still exerts an influence in the fields of art, culture and politics.

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Genoa
Genoa /ˈdʒɛnoʊ.ə/ (Italian: Genova [ˈdʒɛːnova] ( listen); Genoese and Ligurian Zena [ˈzeːna]; Latin and, archaically, English Genua) is the capital of Liguria and the sixth largest city in Italy, with a population of 608,676 within its administrative limits on a land area of 243.6 km² (94 sq mi). The urban zone of Genoa extends beyond the administrative city limits with a population of 718,896. The urban area of Genoa has a population of 800,709. In the metropolitan area live between 859,000 and 1.4 million or 1.5 million people. Genoa is one of Europe's largest cities on the Mediterranean Sea and the largest seaport in Italy.
Genoa has been nicknamed la Superba ("the Superb one") due to its glorious past and impressive landmarks. Part of the old town of Genoa was inscribed on the World Heritage List (UNESCO) in 2006 (see below). The city's rich art, music, gastronomy, architecture and history, allowed it to become the 2004's European Capital of Culture. It is the birthplace of Christopher Columbus.

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Hadrian's Wall
Coordinates: 55°01′27″N 2°17′33″W / 55.02417°N 2.2925°W / 55.02417; -2.2925
Hadrian's Wall (Latin: Vallum Aelium, "Aelian Wall" – the Latin name is inferred from text on the Staffordshire Moorlands Patera) was a defensive fortification in Roman Britain. Begun in AD 122, during the rule of emperor Hadrian, it was the first of two fortifications built across Great Britain, the second being the Antonine Wall, lesser known of the two because its physical remains are less evident today.
The wall was the most heavily fortified border in the Empire. In addition to its role as a military fortification, it is thought that many of the gates through the wall would have served as customs posts to allow trade and levy taxation.
A significant portion of the Hadrians wall still exists, particularly the mid-section, and for much of its length the wall can be followed on foot by Hadrian's Wall Path or by cycle on National Cycle Route 72. It is the most popular tourist attraction in Northern England. It was made a UNESCO World Heritage Site in 1987. English Heritage, a government organisation in charge of managing the historic environment of England, describes it as "the most important monument built by the Romans in Britain".

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Museo di Capodimonte
The National Museum of Capodimonte (Italian Museo di Capodimonte) is located in the Palace of Capodimonte, a grand Bourbon palazzo in Naples, Italy. The museum is the prime repository of Neapolitan painting and decorative art, with several important works from other Italian schools of painting, and some important Ancient Roman sculptures.
The vast collection can trace its origins back to 1738, when King Charles VII of Naples and Sicily (later Charles III, king of Spain) decided to build a hunting lodge on the Capodimonte hill, but then decided that he would instead build a grand palace, partly because his existing residence, the Palace of Portici, was too small to accommodate his court, and partly because he needed somewhere to house the fabulous Farnese art collection which he had inherited from his mother, Elisabetta Farnese, last descendant of the sovereign ducal family of Parma.
Over the years the palace was enlarged and filled with more art. In 1787, on the advice of Jacob Philipp Hackert, a laboratory for the restoration of paintings was created.

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Northumberland
Northumberland ( /nɔrˈθʌmbərlənd/; abbreviated Northumb. or Northd, the latter being preferred by the Royal Mail) is the northernmost ceremonial county and a unitary district in North East England. It borders Cumbria to the west, County Durham to the south and Tyne and Wear to the south east and the Scottish Borders council area to the north. Its North Sea coastline is a designated Area of Outstanding Natural Beauty with a 64 mile (103 km) long distance path. Since 1981, the county council has been located in Morpeth, situated in the east of the county.
The historical boundaries of the county of Northumberland included Newcastle upon Tyne, the traditional county town, as well as Tynemouth and other settlements in North Tyneside, all areas transferred to Tyne and Wear in 1974 under the Local Government Act 1972. The historical county boundaries are sometimes taken to exclude Islandshire, Bedlingtonshire and Norhamshire (collectively North Durham), exclaves of County Durham which were incorporated into Northumberland in 1844. For Eurostat purposes Northumberland is a NUTS 3 region (code UKC21) and is one of three local authority areas that comprise the "Northumberland and Tyne and Wear" NUTS 2 region.

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Oxford
Oxford ⁱ/ˈɒksfəd/ is a city in central southern England, the home of the University of Oxford. The city is the county town of Oxfordshire, and forms a district within the county. It has a population of just under 165,000, of whom 153,900 live within the district boundary. It lies about 50 miles (80 km) north-west of London. The rivers Cherwell and Thames (also sometimes known as the Isis locally) run through Oxford and meet south of the city centre.
Oxford has a diverse economic base. Its industries include motor manufacturing, education, publishing and a large number of information technology and science-based businesses.
Buildings in Oxford demonstrate an example of every English architectural period since the arrival of the Saxons, including the iconic, mid-18th century Radcliffe Camera. Oxford is known as the "city of dreaming spires", a term coined by poet Matthew Arnold in reference to the harmonious architecture of Oxford's university buildings. The University of Oxford is the oldest university in the English-speaking world.

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Susa
Coordinates: 32°11′21″N 48°15′28″E / 32.18922°N 48.257785°E / 32.18922; 48.257785
Susa (Persian: شوش‎ Shush [ʃuʃ]; Greek: Σοῦσα [ˈsuːsa]; Syriac: ܫܘܫ Shush; Old Persian Çūšā-; Biblical Hebrew שׁוּשָׁן Shushān) was an ancient city of the Elamite, Persian and Parthian empires of Iran. It is located in the lower Zagros Mountains about 250 km (160 mi) east of the Tigris River, between the Karkheh and Dez Rivers.
The modern Iranian town of Shush is located at the site of ancient Susa. Shush is the administrative capital of the Shush County of Iran's Khuzestan province. It had a population 64,960 in 2005.
In historic literature, Susa appears in the very earliest Sumerian records, e.g. in Enmerkar and the Lord of Aratta it is described as one of the places obedient to Inanna, patron deity of Uruk.
Susa is also mentioned in the Ketuvim of the Hebrew Bible by the name Shushan, mainly in Esther, but also once each in Nehemiah and Daniel. Both Daniel and Nehemiah lived in Susa during the Babylonian captivity of the 6th century BCE. Esther became queen there, and saved the Jews from genocide. A tomb presumed to be that of Daniel is located in the area, known as Shush-Daniel. The tomb is marked by an unusual white stone cone, which is neither regular nor symmetric. Many scholars believe it was at one point a Star of David. Susa is further mentioned in the Book of Jubilees (8:21 & 9:2) as one of the places within the inheritance of Shem and his eldest son Elam; and in 8:1, "Susan" is also named as the son (or daughter, in some translations) of Elam.

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Venice
Venice (Italian: Venezia [veˈnɛttsja] ( listen), Venetian: Venexia [veˈnɛsja]; (Latin: Venetia) is a city in northeast Italy sited on a group of 118 small islands separated by canals and linked by bridges. It is located in the marshy Venetian Lagoon which stretches along the shoreline between the mouths of the Po and the Piave Rivers. Venice is renowned for the beauty of its setting, its architecture and its artworks. The city in its entirety is listed as World Heritage Site, along with its lagoon.
Venice is the capital of the Veneto region. In 2009, there were 270,098 people residing in Venice's comune (the population estimate of 272,000 inhabitants includes the population of the whole Comune of Venezia; around 60,000 in the historic city of Venice (Centro storico); 176,000 in Terraferma (the Mainland), mostly in the large frazioni of Mestre and Marghera; 31,000 live on other islands in the lagoon). Together with Padua and Treviso, the city is included in the Padua-Treviso-Venice Metropolitan Area (PATREVE) (population 1,600,000).

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Assyrians
The Assyrian people, most commonly known as Assyrians and other later names, such as: Chaldeans, Syrians, Syriacs (see names of Syriac Christians), are a distinct ethnic group whose origins lie in ancient Mesopotamia. They are Eastern Aramaic speaking Semites who trace their ancestry back to the Sumero-Akkadian civilisation that emerged in Mesopotamia circa 4000- 3500 BC, and in particular to the northern region of the Akkadian lands, which would become known as Assyria by the 24th Century BC. The Assyrian nation existed as an independent state, and often a powerful empire, from the 24th century BC until the end of the 7th century BC.
Today that ancient territory is part of several nations; Assyria remained a Geo-political entity after its fall, and was ruled as an occupied province under the rule of various empires from the late 7th century BC until the mid 7th century AD when it was dissolved, and the Assyrian people have gradually become a minority in their homelands since that time. They are indigenous to, and have traditionally lived all over what is now Iraq, north east Syria, north west Iran, and Southeastern Turkey. They are predominantly Christian.

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Augustus
Augustus ( /ɔːˈɡʌstəs/;Classical Latin: [awˈɡʊstʊs]; Latin: Imperator Gaius Julius Caesar Augustus; 23 September 63 BC – 19 August AD 14) is considered the first emperor of the Roman Empire, which he ruled alone from 27 BC until his death in 14 AD. Born Gaius Octavius Thurinus, he was adopted posthumously by his great-uncle Gaius Julius Caesar in 44 BC via his last will and testament, and between then and 27 BC was officially named Gaius Julius Caesar. In 27 BC the Senate awarded him the honorific Augustus ("the revered one"), and thus consequently he was Gaius Julius Caesar Augustus.
The young Octavius came into his inheritance after Caesar's assassination in 44 BC. In 43 BC, Octavian joined forces with Mark Antony and Marcus Aemilius Lepidus in a military dictatorship known as the Second Triumvirate. As a triumvir, Octavian ruled Rome and many of its provinces. The triumvirate was eventually torn apart under the competing ambitions of its rulers: Lepidus was driven into exile, and Antony committed suicide following his defeat at the Battle of Actium by Octavian's fleet under the command of Agrippa in 31 BC.

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Businessperson
A businessperson (also businessman, business man, or businesswoman) is someone involved in a particular undertaking of activities, commercial or industrial, for the purpose of generating revenue from a combination of human, financial, and physical capital. An entrepreneur is an example of a business person. Sometimes the term can mean someone who is involved in the management of a company, especially as an owner or an executive. Sometimes it can also mean someone employed in a (usually) profit-oriented enterprise. The term businessperson/man/woman almost always refers to someone with a "white collar" occupation.

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Gerbert of Aurillac
Pope Sylvester II (or Silvester II) (c. 946 – 12 May 1003), born Gerbert d'Aurillac, was a prolific scholar, teacher, and Pope. He endorsed and promoted study of Arab/Greco-Roman arithmetic, mathematics, and astronomy, reintroducing to Europe the abacus and armillary sphere, which had been lost to Europe since the end of the Greco-Roman era. He was the first French Pope, reigning from 999 until his death. Due to his efforts to root out simony and other corruption within the Church, and his connection with science and intellectualism, there were many rumors and legends spread of Sylvester II being a sorcerer in league with the devil.
Gerbert was born about 946 in the town of Belliac, near the present-day commune of Saint-Simon, Cantal, France. Around 963, he entered the monastery of St. Gerald of Aurillac. In 967, Borrell II of Barcelona (947–992), visited the monastery, and the abbot asked the Count to take Gerbert with him so that the lad could study mathematics in Spain and acquire there some knowledge of Arabic learning. In the following years, Gerbert studied under the direction of Atto, Bishop of Vic, some 60 km north of Barcelona, and probably also at the nearby Monastery of Santa Maria de Ripoll.

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Jacopo de' Barbari
Jacopo de' Barbari, sometimes known or referred to as de'Barbari, de Barberi, de Barbari, Barbaro, Barberino, Barbarigo or Barberigo (c. 1440 – before 1516), was an Italian painter and printmaker with a highly individual style. He moved from Venice to Germany in 1500, thus becoming the first Italian Renaissance artist of stature to work in Northern Europe. His few surviving paintings (about twelve) include the first known example of trompe l'oeil since antiquity. His twenty-nine engravings and three very large woodcuts were also highly influential.
His place and date of birth are unknown, but he was described as a Venetian by contemporaries, including Albrecht Dürer ("van Venedig geporn"), and as 'old and weak' in 1511, so dates of between 1450 and 1470 have been proposed. Since the earlier part of the range would have him achieve sudden prominence at the age of nearly fifty, the later part would seem more likely. There have also been suggestions he was of German extraction; but it now seems clear he was Italian; there are surviving documents of his in Italian addressed to Germans. He signed most of his engravings with a caduceus, the sign of Mercury, and the Munich still-life (right) with this below his name: "Jac.o de barbarj p 1504" on the painted piece of paper. He was probably not of the important Venetian Barbaro family as he was never listed in that family's genealogy.

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Luca Pacioli
Fra Luca Bartolomeo de Pacioli (sometimes Paccioli or Paciolo; 1445 – 1517) was an Italian mathematician, Franciscan friar, collaborator with Leonardo da Vinci, and seminal contributor to the field now known as accounting. He was also called Luca di Borgo after his birthplace, Borgo Sansepolcro, Tuscany.
Luca Pacioli was born in 1447 in Sansepolcro (Tuscany) where he received an abbaco education. This was education in the vernacular (i.e. the local tongue) rather than Latin and focused on the knowledge required of merchants. He moved to Venice around 1464, where he continued his own education while working as a tutor to the three sons of a merchant. It was during this period that he wrote his first book, a treatise on arithmetic for the boys he was tutoring. Between 1472 and 1475, he became a Franciscan friar.
In 1475, he started teaching in Perugia, first as a private teacher, from 1477 holding the first chair in mathematics. He wrote a comprehensive textbook in the vernacular for his students. He continued to work as a private tutor of mathematics and was, in fact, instructed to stop teaching at this level in Sansepolcro in 1491. In 1494, his first book to be printed, Summa de arithmetica, geometria, proportioni et proportionalità, was published in Venice. In 1497, he accepted an invitation from duke Ludovico Sforza to work in Milan. There he met, collaborated with, lived with, and taught mathematics to Leonardo da Vinci. In 1499, Pacioli and Leonardo were forced to flee Milan when Louis XII of France seized the city and drove out their patron. Their paths appear to have finally separated around 1506. Pacioli died at age 70(+/-) in 1517, most likely in Sansepolcro where it is thought that he had spent much of his final years.

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Persian People
The Persian people are part of the Iranian peoples who speak the modern Persian language and closely akin Iranian dialects and languages. The origin of the ethnic Iranian/Persian peoples are traced to the Ancient Iranian peoples, who were part of the ancient Indo-Iranians. The synonymous usage of Iranian and Persian has persisted over the centuries although some modern Western sources use Iranic/Iranian as a wider term that includes the term Persian as well as related Iranian languages and ethnic groups. However, these terms have been used both synonymously as well as in a complementary fashion since ancient times; as the Ancient Iranian peoples such as the Old Persians, Medes, Bactrians, Parthians and Avesta peoples considered themselves to be part of the greater Iranian ethnic stock.
The term Persian translates to "from or of Persis" which is a region north of the Persian Gulf located in Pars, Iran. It was from this region that Cyrus the Great, the founder of the Achaemenid empire, united all other Iranian empires (such as the Medes and the Elamites), and expanded the Persian cultural and social influences by incorporating the Babylonian empire, and the Lydian empire. Although not the first Iranian empire, the Achaemenid empire is the first Persian empire well recognized by Greek and Persian historians for its massive cultural, military and social influences going as far as Athens, Egypt, and Libya.

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Suetonius
Gaius Suetonius Tranquillus, commonly known as Suetonius^{[pronunciation?]} (ca. 69/72 – after 130), was a Roman historian belonging to the equestrian order in the early Imperial era.
His most important surviving work is a set of biographies of twelve successive Roman rulers, from Julius Caesar to Domitian, entitled De Vita Caesarum. He recorded the earliest accounts of Julius Caesar's epileptic seizures. Other works by Suetonius concern the daily life of Rome, politics, oratory, and the lives of famous writers, including poets, historians, and grammarians. A few of these books have partially survived, but many have been lost.
Suetonius was born the son of Suetonius Laetus, who probably came from Hippo Regius (Annaba, Algeria). Laetus was an equestrian who served and took part in the first Battle of Bedriacum for the Emperor Otho and against the future Emperor Vitellius in AD 69.

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Tacitus
Publius (or Gaius) Cornelius Tacitus (AD 56 – AD 117) was a senator and a historian of the Roman Empire. The surviving portions of his two major works—the Annals and the Histories—examine the reigns of the Roman Emperors Tiberius, Claudius, Nero and those who reigned in the Year of the Four Emperors. These two works span the history of the Roman Empire from the death of Augustus in AD 14 to (presumably) the death of emperor Domitian in AD 96. There are substantial lacunae in the surviving texts, including one four books long in the Annals.
Other writings by him discuss oratory (in dialogue format, see Dialogus de oratoribus), Germania (in De origine et situ Germanorum), and the life of his father-in-law Agricola, mainly focusing on his campaign in Britannia (see De vita et moribus Iulii Agricolae).
Tacitus is considered to be one of the greatest Roman historians. He lived in what has been called the Silver Age of Latin literature, and as well as the brevity and compactness of his Latin prose, he is known for his penetrating insights into the psychology of power politics.

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Accounting Lecture 01 - Basic Concepts

From the free study guides and course manuals at www.my-accounting-tutor.com. Introductory...

published: 11 Sep 2008

author: AccountingTutor

What is Accounting?

What is accounting? Who uses accounting info?...

published: 21 Nov 2010

author: AccountingWITT

Accounting 1: Program #2 - "Basic Accounting Concepts"

Accounting 1 Program #2 Chapter 1 "Basic Accounting Concepts" dkrug@jccc.edu...

published: 26 Aug 2011

author: JCCCvideo

Easy Accounting Video #1

What to memorize first! Students struggle because they have not memorized this first step....

published: 01 Oct 2012

author: Amanda Russell

Career in Accounting

Terri Albertson, CPA, talks about a career in accounting on CBS-3....

published: 12 Dec 2008

author: PaInstituteofCPAs

Why Study Accounting?

In this video, Professor Norm Nemrow gives a short explanation of why an understanding of ...

published: 10 Mar 2011

author: BLSINC

Debits and Credits (Financial Accounting Series)

In this financial accounting tutorial I delve into the importance of using debits and cred...

published: 29 Jul 2012

author: iNinjaNotes

What is Accounting - AccountingChef

published: 31 Aug 2012

author: AccountingChef

The FIFO Method for Inventory Costing (Financial Accounting Series)

In this financial accounting series we discuss the cost flow assumption FIFO method for in...

published: 01 Oct 2012

author: iNinjaNotes

Sh*t Accountants Say

Sh*t accountants say - parody of Sh*t girls say. Just for fun pre-busy season video!...

published: 09 Jan 2012

author: James Huang

Introduction to Accounting

In this video I provide an overview of accounting and walk you through how to read financi...

published: 24 Sep 2012

author: mattalanis

Keiser Report: Hollywood Accounting (E377)

In this episode, Max Keiser and Stacy Herbert look at how Hollywood accounting has turned ...

published: 08 Dec 2012

author: RussiaToday

Accounting Harmonisation and Global Economic Consequences

Speaker(s): Hans Hoogervorst Recorded on 6 November 2012 in Old Theatre, Old Building. mp3...

published: 08 Nov 2012

author: lsewebsite

Bala Sai Baba not accounting for auto money - Tv9

Bala Sai Baba not accounting for auto money For more content go to www.freetv9.com Follow ...

published: 10 Dec 2012

author: tv9telugu

The Unseen Sea

Update: Thanks so much for all your comments! I am reading them all and enjoy them a lot! ...

published: 17 Sep 2010

author: Simon Christen

Your secret

"Your secret" is a movie about you. Something quite different as compared to my other wor...

published: 27 Jun 2010

author: Jean-Sebastien Monzani

The V Motion Project

The Motion Project was a collaboration between a lot of clever creative people working tog...

published: 08 Jul 2012

author: Assembly

iPad + Velcro

Two of mankind's greatest inventions, together at last. Note: this is an exploration of wh...

published: 19 May 2010

author: Jesse Rosten

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photo: AP / Nick Ut

File - Demonstrators are arrested by police after protesting outside a Walmart store Friday Nov. 23, 2012, in Paramount, Calif.

Walmart's horrific treatment of workers is too big to ignore

Al Jazeera

14 Dec 2012

Is this what you advocate in Libya, Mr Clinton? Rather than hold the company accountable for ongoing human rights abuses, Clinton sent a video message to Walmart shareholders on June 4 in which he lauded it for its so-called sustainability efforts ... In 2007, then-Senator Barack Obama told the United Food and Commercial Workers.  ... Emailed ... News Africa Americas Asia-Pacific Central/S.Asia Europe Middle East Sport....(size: 23.6Kb)

photo: AP / Newtown Bee, Shannon Hicks

In this photo provided by the Newtown Bee, police officers are on the scene outside Sandy Hook Elementary School in Newtown, Conn., where authorities say a gunman opened fire, killing 26 people, including 20 children, Friday, Dec. 14, 2012.

No motive for attack by 'brilliant but remote' killer Adam Lanza in Connecticut

The Independent

15 Dec 2012

President Barack Obama's comments on the tragedy amounted to one of the most outwardly emotional moments of his presidency. "The majority of those who died were children — beautiful little kids between the ages of 5 and 10 years old," Obama said at a White House news briefing ... His father, Peter Lanza, lives in Stamford, Conn., and works as a tax director for General Electric....(size: 8.8Kb)

photo: AP / Newtown Bee, Shannon Hicks

In this photo provided by the Newtown Bee, a police officer leads two women and a child from Sandy Hook Elementary School in Newtown, Conn., where a gunman opened fire, killing 26 people, including 20 children, Friday, Dec. 14, 2012.

20 Schoolchildren, 8 Others Dead in Connecticut Massacre

Jakarta Globe

15 Dec 2012

President Barack Obama, wiping away tears and pausing to collect his emotions in an address to the nation, mourned the "beautiful little kids between the ages of 5 and 10 years old" who were killed ... But by evening, many media accounts indicated that Lanza's mother was the fatality at the second crime scene ... Obama ordered flags flown at half-staff at US public buildings....(size: 7.5Kb)

photo: AP / Khalil Hamra

Egyptian women line up outside a polling station to cast their votes during a referendum on a disputed constitution drafted by Islamist supporters of President Morsi in Cairo, Egypt, Saturday, Dec. 15, 2012.

Egypt's Muslim Brotherhood Is No Longer a 'State Within a State'

WorldNews.com

16 Dec 2012

Article by WN.com Correspondent Dallas Darling. "Fundamentalism is good for protest, good for revolution, and good for war, but not so good for development.". After a century of being persecuted and driven underground, mainly for their vibrant nationalism and their anti-imperialist and pro-Palestinian views, Egypt's Islamist Muslim Brotherhood has finally taken center-state ... Such actions will have to be avoided....(size: 6.9Kb)

photo: AP / Manu Brabo

In this Wednesday, Dec. 12, 2012 photo, a Free Syrian Army fighter poses as he carries his weapon in the northern province of Aleppo, Syria. Syria's civil war has killed more than 40,000 people.

Russia says Syrian rebels might win

CNTV

14 Dec 2012

One of Syria's key allies has admitted for the first time the Assad regime is losing the 20-month ground war. Russia’s deputy foreign minister’s comments are significant because Russia has blocked action to stem the violence, supplied weapons to the Assad regime, and vetoed three UN resolutions -- even as other countries called for Assad to step down. The comments are expected to put new pressure on the Syrian leader ... Reporter ...   ... ....(size: 6.6Kb)

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Tax hikes could spur wealthy to flee state

Fresno Bee

16 Dec 2012

One of the debating points vis-a-vis Proposition 30, the tax hike that voters approved last month, was whether sharply increasing marginal income tax rates on a relative handful of high-income Californians would prove counterproductive by driving them out of the state....(size: 1.3Kb)

Lieber: Student borrowers facing tax time bomb

Fresno Bee

16 Dec 2012

This potential tax bill is a byproduct of federal efforts, including the newly expanded income-based repayment program, that allow you to limit the monthly payments on most federal loans to what you can afford to pay ... service job, in which case the taxes go away)....(size: 1.3Kb)

James R. Carroll | Mitch McConnell and GOP still dislike report on tax rates

Indianapolis Star

16 Dec 2012

Last September, the nonpartisan Congressional Research Service put out a report analyzing the relationship between tax rates for the highest-income taxpayers and economic growth ... However, the report added, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution.....(size: 2.1Kb)

A look at tax breaks that expired this year

Fresno Bee

16 Dec 2012

However, it was never indexed for inflation, so Congress routinely adjusts it to keep it from imposing hefty tax increases on millions of middle-income families ... state and local income taxes....(size: 1.0Kb)

Boehner plan would bring top income tax rate to 39.6 percent: source

Hartford Courant

16 Dec 2012

(Reuters) - Speaker 's latest "" proposal to President would see the top income tax rates rise to 39.6 percent from 36 percent for those with net incomes above $1 million a year, according to a source familiar with the talks ......(size: 1.2Kb)

Dan Walters: Will California's wealthy residents vote with their feet to avoid new income tax? ...

Sacramento Bee

16 Dec 2012

One of the debating points vis-à-vis Proposition 30, the tax hike that voters approved last month, was whether sharply increasing marginal income tax rates on a relative handful of high-income Californians would prove counterproductive by driving them out of the state ... California-based Google is using a front in Bermuda to avoid taxes on billions of dollars in European income....(size: 2.9Kb)

Tax evasion costs Greece 5 pct of GDP - EU tax chief

The Himalayan

16 Dec 2012

He said the country's tax system needed an overhaul with simple and easily applicable rules. A bill introduced to boost state revenues is due to scrap many tax exemptions and raise tax rates on property, companies and households with above-average income ... He cited 2011 tax data revealing that half of the self-employed reported annual incomes of up to 5,000 euros, showing the biggest tax burden fell on wage earners and pensioners....(size: 5.7Kb)

OECD report provides states tax ammunition

Canberra Times

16 Dec 2012

The Organisation for Economic Co-operation and Development survey, Consumption Tax Trends 2012 finds that Australia's GST accounts for just 14 per cent of nationwide tax collections, compared with an average among developed nations of 19 per cent ... They will suggest he first hands them several billion dollars of Commonwealth income tax as a replacement....(size: 3.6Kb)

Tax Breaks That Already Expired

The Street

16 Dec 2012

However, it was never indexed for inflation, so Congress routinely adjusts it to keep it from imposing hefty tax increases on millions of middle-income families ... Taxpayers can take this itemized deduction instead of deducting state and local income taxes ... A provision that allows tax-free distributions from Individual Retirement Accounts, when used for charitable donations....(size: 2.4Kb)

A look at tax breaks that expired this year - Wire Politics - The Sacramento ...

Sacramento Bee

16 Dec 2012

However, it was never indexed for inflation, so Congress routinely adjusts it to keep it from imposing hefty tax increases on millions of middle-income families ... Taxpayers can take this itemized deduction instead of deducting state and local income taxes ... - A provision that allows tax-free distributions from Individual Retirement Accounts, when used for charitable donations....(size: 2.5Kb)

Merkel rips German opposition for blocking tax cuts

Yahoo Daily News

16 Dec 2012

BERLIN (Reuters) - Chancellor Angela Merkel criticized the centre-left opposition for blocking her government's efforts to cut income taxes by 6 billion euros, telling a German newspaper those parties will have to explain that to voters in next year's election ... They said they would have backed tax cuts for ordinary earners if the coalition had raised taxes on higher incomes....(size: 3.8Kb)

Treasury Minister wants to change Jersey income tax laws

BBC News

16 Dec 2012

Jersey's income tax laws could be changed to make the island more attractive to overseas investors, if States members agree ......(size: 0.7Kb)

Analysis: Boehner opens door to tax hikes, shifts U.S. fiscal cliff talks

Hartford Courant

16 Dec 2012

WASHINGTON (Reuters) - Speaker 's offer to accept a tax rate increase for the wealthiest Americans knocks down a key Republican road block to a deal resolving the year-end "." ... The question now boils down to price - which income levels, what rates and what's offered in return....(size: 1.7Kb)

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Accountancy
Key concepts
Accountant · Accounting period · Accrual · Bookkeeping · Cash and accrual basis · Cash flow forecasting · Chart of accounts · Convergence · Journal · Special journals · Constant item purchasing power accounting · Cost of goods sold · Credit terms · Debits and credits · Double-entry system · Mark-to-market accounting · FIFO and LIFO · GAAP / IFRS · General ledger · Goodwill · Historical cost · Matching principle · Revenue recognition · Trial balance
Fields of accounting
Cost · Financial · Forensic · Fund · Management · Tax (U.S.)
Financial statements
Balance Sheet · Cash flow statement · Income statement · Statement of retained earnings · Notes · Management discussion and analysis · XBRL
Auditing
Auditor's report · Control self-assessment · Financial audit · GAAS / ISA · Internal audit · Sarbanes–Oxley Act
Accounting qualifications
CIA · CA · CPA · CCA · CGA · CMA · CAT · CIIA · IIA · CTP
v t e

Accountancy is the process of communicating financial information about a business entity to users such as shareholders and managers.^[1] The communication is generally in the form of financial statements that show in money terms the economic resources under the control of management; the art lies in selecting the information that is relevant to the user and is reliable.^[2] The principles of accountancy are applied to business entities in three divisions of practical art, named accounting, bookkeeping, and auditing.^[3]

The American Institute of Certified Public Accountants (AICPA) defines accountancy as "the art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof."^[4]

Accounting is thousands of years old; the earliest accounting records, which date back more than 7,000 years, were found in Mesopotamia (Assyrians). The people of that time relied on primitive accounting methods to record the growth of crops and herds. Accounting evolved, improving over the years and advancing as business advanced.^[5]

Early accounts served mainly to assist the memory of the businessperson and the audience for the account was the proprietor or record keeper alone. Cruder forms of accounting were inadequate for the problems created by a business entity involving multiple investors, so double-entry bookkeeping first emerged in northern Italy in the 14th century, where trading ventures began to require more capital than a single individual was able to invest. The development of joint stock companies created wider audiences for accounts, as investors without firsthand knowledge of their operations relied on accounts to provide the requisite information.^[6] This development resulted in a split of accounting systems for internal (i.e. management accounting) and external (i.e. financial accounting) purposes, and subsequently also in accounting and disclosure regulations and a growing need for independent attestation of external accounts by auditors.^[7]

Today, accounting is called "the language of business" because it is the vehicle for reporting financial information about a business entity to many different groups of people. Accounting that concentrates on reporting to people inside the business entity is called management accounting and is used to provide information to employees, managers, owner-managers and auditors. Management accounting is concerned primarily with providing a basis for making management or operating decisions. Accounting that provides information to people outside the business entity is called financial accounting and provides information to present and potential shareholders, creditors such as banks or vendors, financial analysts, economists, and government agencies. Because these users have different needs, the presentation of financial accounts is very structured and subject to many more rules than management accounting. The body of rules that governs financial accounting in a given jurisdiction is called Generally Accepted Accounting Principles, or GAAP. Other rules include International Financial Reporting Standards, or IFRS,^[8] or US GAAP.

1 Theory
2 Etymology
3 History
4 Accounting scandals
5 Notes and references

Theory [link]

The basic accounting equation is assets = liabilities + equity. This is the balance sheet. The foundation for the balance sheet begins with the income statement, which is revenues - expenses = net income or net loss. This is followed by the retained earnings statement, which is beginning retained earnings + net income + additional capital(capital contribution) - dividends/drawings = ending retained earnings.

Etymology [link]

The word "Accountant" is derived from the French word Compter, which took its origin from the Latin word Computare. The word was formerly written in English as "Accomptant", but in process of time the word, which was always pronounced by dropping the "p", became gradually changed both in pronunciation and in orthography to its present form^[9] (see also comptroller).

History [link]

Token accounting in ancient Mesopotamia [link]

Map of the Middle East showing the Fertile Crescent circa 3rd millennium BC

The earliest accounting records were found amongst the ruins of ancient Babylon, Assyria and Sumeria, which date back more than 7,000 years. The people of that time relied on primitive accounting methods to record the growth of crops and herds. Because there is a natural season to farming and herding, it is easy to count and determine if a surplus had been gained after the crops had been harvested or the young animals weaned.^[5]

Accounting tokens made of clay, from Susa, Uruk period, circa 3500 BCE. Department of Oriental Antiquities, Louvre.

The invention of a form of bookkeeping using clay tokens represented a huge cognitive leap for mankind.^[10]

Globular token envelope with a cluster of accounting tokens. Clay, Susa, Uruk period (4000 to 3100 BCE). Department of Oriental Antiquities, Louvre.

Economic tablet with numeric signs. Proto-Elamite script in clay, Susa, Uruk period (3200 BC to 2700 BCE). Department of Oriental Antiquities, Louvre.

Accounting in the Roman Empire [link]

Part of the Res Gestae Divi Augusti from the Monumentum Ancyranum (Temple of Augustus and Rome) at Ancyra, built between 25 BCE - 20 BCE.

The Res Gestae Divi Augusti (Latin: "The Deeds of the Divine Augustus") is a remarkable account to the Roman people of the Emperor Augustus' stewardship. It listed and quantified his public expenditure, which encompassed distributions to the people, grants of land or money to army veterans, subsidies to the aerarium (treasury), building of temples, religious offerings, and expenditures on theatrical shows and gladiatorial games. It was not an account of state revenue and expenditure, but was designed to demonstrate Augustus' munificence. The significance of the Res Gestae Divi Augusti from an accounting perspective lies in the fact that it illustrates that the executive authority had access to detailed financial information, covering a period of some forty years, which was still retrievable after the event. The scope of the accounting information at the emperor's disposal suggests that its purpose encompassed planning and decision-making.^[11]

The Roman historians Suetonius and Cassius Dio record that in 23 BC, Augustus prepared a rationarium (account) which listed public revenues, the amounts of cash in the aerarium (treasury), in the provincial fisci (tax officials), and in the hands of the publicani (public contractors); and that it included the names of the freedmen and slaves from whom a detailed account could be obtained. The closeness of this information to the executive authority of the emperor is attested by Tacitus' statement that it was written out by Augustus himself.^[12]

Roman writing tablet from the Vindolanda Roman fort of Hadrian's Wall, in Northumberland (1st-2nd century AD) requesting money to buy 5,000 measures of cereal used for brewing beer. Department of Prehistory and Europe, British Museum.

Records of cash, commodities, and transactions were kept scrupulously by military personnel of the Roman army. An account of small cash sums received over a few days at the fort of Vindolanda circa 110 CE shows that the fort could compute revenues in cash on a daily basis, perhaps from sales of surplus supplies or goods manufactured in the camp, items dispensed to slaves such as cervesa (beer) and clavi caligares (nails for boots), as well as commodities bought by individual soldiers. The basic needs of the fort were met by a mixture of direct production, purchase and requisition; in one letter, a request for money to buy 5,000 modii (measures) of braces (a cereal used in brewing) shows that the fort bought provisions for a considerable number of people.^[13]

The Heroninos Archive is the name given to a huge collection of papyrus documents, mostly letters, but also including a fair number of accounts, which come from Roman Egypt in 3rd century CE. The bulk of the documents relate to the running of a large, private estate^[14] is named after Heroninos because he was phrontistes (Koine Greek: manager) of the estate which had a complex and standarised system of accounting which was followed by all its local farm managers.^[15] Each administrator on each sub-division of the estate drew up his own little accounts, for the day-to-day running of the estate, payment of the workforce, production of crops, the sale of produce, the use of animals, and general expenditure on the staff. This information was then summarized as pieces of papyrus scroll into one big yearly account for each particular sub—division of the estate. Entries were arranged by sector, with cash expenses and gains extrapolated from all the different sectors. Accounts of this kind gave the owner the opportunity to take better economic decisions because the information was purposefully selected and arranged.^[16]

Simple accounting is mentioned in the Christian Bible (New Testament) in the Book of Matthew, in the Parable of the Talents.^[17]

Islamic accounting and algebra [link]

This section may stray from the topic of the article. Please help improve this section or discuss this issue on the talk page. (January 2012)

In the Qur’an, the word "account" (Arabic: hesab) is used in its generic sense, relating to one's obligation to account to God on all matters pertaining to human endeavour. According to the Qur’an, followers are required to keep records of their indebtedness (Sura 2, ayah 282), thus Islam provides general approval and guidelines for the recording and reporting of transactions.^[18]

The Islamic law of inheritance (Sura 4, ayah 11) defines exactly how the estate is calculated after death of an individual. The power of testamentary disposition is basically limited to one-third of the net estate (i.e. the assets remaining after the payment of funeral expenses and debts), providing for every member of the family by allotting fixed shares not only to wives and children, but also to fathers and mothers.^[19] The complexity of this law served as an impetus behind the development of algebra (Arabic: al-jabr) by the Persian mathematician Muhammad ibn Mūsā al-Khwārizmī and other medieval Islamic mathematicians. Khwārizmī's "The Compendious Book on Calculation by Completion and Balancing" (Arabic: Hisab al-jabr w’al-muqabala, Baghdad, c. 825) devoted a chapter on the solution to the Islamic law of inheritance using linear equations.^[20] In the 12th century, Latin translations of al-Khwārizmī's "Book of Addition and Subtraction According to the Hindu Calculation" (Arabic:Kitāb al-Jamʿ wa-l-tafrīq bi-ḥisāb al-Hind) on the use of Indian numerals, introduced the decimal positional number system to the Western world.^[21] The development of mathematics and accounting was intertwined during the Renaissance. Mathematics was in the midst of a period of significant development in the late 15th century. Hindu-Arabic numerals and algebra were introduced to Europe from Arab mathematics at the end of the 10th century by the Benedictine monk Gerbert of Aurillac, but it was only after Leonardo Pisano (also known as Fibonacci) put commercial arithmetic, Hindu-Arabic numerals, and the rules of algebra together in his Liber Abaci in 1202 that Hindu-Arabic numerals became widely used in Italy.^[22]

Luca Pacioli and double-entry bookkeeping [link]

Main articles: Luca Pacioli and Double-entry bookkeeping system

Bartering was the dominant practice for traveling merchants during the Middle Ages. When medieval Europe moved to a monetary economy in the 13th century, sedentary merchants depended on bookkeeping to oversee multiple simultaneous transactions financed by bank loans. One important breakthrough took place around that time: the introduction of double-entry bookkeeping,^[23] which is defined as any bookkeeping system in which there was a debit and credit entry for each transaction, or for which the majority of transactions were intended to be of this form.^[24] The historical origin of the use of the words ‘debit’ and ‘credit’ in accounting goes back to the days of single-entry bookkeeping in which the chief objective was to keep track of amounts owed by customers (debtors) and amounts owed to creditors. ‘Debit,’ is Latin for ‘he owes’ and ‘credit’ Latin for ‘he trusts’.^[25]

The earliest extant evidence of full double-entry bookkeeping is the Farolfi ledger of 1299-1300.^[23] Giovanno Farolfi & Company were a firm of Florentine merchants whose head office was in Nîmes who also acted as moneylenders to the Archbishop of Arles, their most important customer.^[26] The oldest discovered record of a complete double-entry system is the Messari (Italian: Treasurer's) accounts of the city of Genoa in 1340. The Messari accounts contain debits and credits journalised in a bilateral form, and contains balances carried forward from the preceding year, and therefore enjoy general recognition as a double-entry system.^[27]

Portrait of Luca Pacioli, attributed to Jacopo de' Barbari, 1495, (Museo di Capodimonte).

Luca Pacioli's "Summa de Arithmetica, Geometria, Proportioni et Proportionalità" (Latin: "Review of Arithmetic, Geometry, Ratio and Proportion") was first printed and published in Venice in 1494. It included a 27-page treatise on bookkeeping, "Particularis de Computis et Scripturis" (Latin: "Details of Calculation and Recording"). It was written primarily for, and sold mainly to, merchants who used the book as a reference text, as a source of pleasure from the mathematical puzzles it contained, and to aid the education of their sons. It represents the first known printed treatise on bookkeeping; and it is widely believed to be the forerunner of modern bookkeeping practice. In Summa Arithmetica, Pacioli introduced symbols for plus and minus for the first time in a printed book, symbols that became standard notation in Italian Renaissance mathematics. Summa Arithmetica was also the first known book printed in Italy to contain algebra.^[28]

Although Luca Pacioli did not invent double-entry bookkeeping,^[29] his 27-page treatise on bookkeeping contained the first known published work on that topic, and is said to have laid the foundation for double-entry bookkeeping as it is practiced today.^[30] Even though Pacioli's treatise exhibits almost no originality, it is generally considered as an important work, mainly because of its wide circulation, it was written in the vernacular Italian language, and it was a printed book.^[31]

According to Pacioli, accounting is an ad hoc ordering system devised by the merchant. Its regular use provides the merchant with continued information about his business, and allows him to evaluate how things are going and to act accordingly. Pacioli recommends the Venetian method of double-entry bookkeeping above all others. Three major books of account are at the direct basis of this system: the memoriale (Italian: memorandum), the giornale (Journal), and the quaderno (ledger). The ledger is considered as the central one and is accompanied by an alphabetical index.^[32]

Pacioli's treatise gave instructions in how to record barter transactions and transactions in a variety of currencies – both being far more commonplace than they are today. It also enabled merchants to audit their own books and to ensure that the entries in the accounting records made by their bookkeepers complied with the method he described. Without such a system, all merchants who did not maintain their own records were at greater risk of theft by their employees and agents: it is not by accident that the first and last items described in his treatise concern maintenance of an accurate inventory.^[33]

The nature of double-entry can be grasped by recognizing that this system of bookkeeping did not simply record the things merchants traded so that they could keep track of assets or calculate profits and losses; instead as a system of writing, double-entry produced effects that exceeded transcription and calculation. One of its social effects was to proclaim the honesty of merchants as a group; one of its epistemological effects was to make its formal precision based on a rule bound system of arithmetic seem to guarantee the accuracy of the details it recorded. Even though the information recorded in the books of account was not necessarily accurate, the combination of the double entry system's precision and the normalizing effect that precision tended to create, produced the impression that books of account were not only precise, but accurate as well. Instead of gaining prestige from numbers, double entry bookkeeping helped confer cultural authority on numbers.^[34]

William Welch Deloitte

Double entry accounting means that each transaction requires the use of at least two accounts.

Accounting in the internet era [link]

In the IETF RFCs the act of accounting is usually defined as the act of collecting information on resource usage for the purpose of trend analysis, auditing, billing, or cost allocation.

For example when a user uses a connectivity service paid with a pay-per-view approach the accounting process is based on a metering of the resource usage by the user (usually time spent with an active connection or the amount of data transferred using that connection). The accounting is hence the recording of this connectivity service consumption for subsequent charging of the service itself.

Accounting scandals [link]

Main article: Accounting scandals

The year 2001 witnessed a series of financial information frauds involving Enron Corporation, auditing firm Arthur Andersen, the telecommunications company WorldCom, Qwest and Sunbeam, among other well-known corporations. These problems highlighted the need to review the effectiveness of accounting standards, auditing regulations and corporate governance principles. In some cases, management manipulated the figures shown in financial reports to indicate a better economic performance. In others, tax and regulatory incentives encouraged over-leveraging of companies and decisions to bear extraordinary and unjustified risk.^[35]

The Enron scandal deeply influenced the development of new regulations to improve the reliability of financial reporting, and increased public awareness about the importance of having accounting standards that show the financial reality of companies and the objectivity and independence of auditing firms.^[35]

In addition to being the largest bankruptcy reorganization in American history, the Enron scandal undoubtedly is the biggest audit failure.^[36]It involved a financial scandal of Enron Corporation and their auditors Arthur Andersen, which was revealed in late 2001. The scandal caused the dissolution of Arthur Andersen, which at the time was one of the five largest accounting firms in the world. After a series of revelations involving irregular accounting procedures conducted throughout the 1990s, Enron filed for Chapter 11 bankruptcy protection in December 2001.^[37]

One consequence of these events was the passage of Sarbanes–Oxley Act in 2002, as a result of the first admissions of fraudulent behavior made by Enron. The act significantly raises criminal penalties for securities fraud, for destroying, altering or fabricating records in federal investigations or any scheme or attempt to defraud shareholders.^[38] Another example of corporate fraud was the case of Australian telecommunications company One-tel. The financial manager, Jodee Rich was subsequently charged with fraud and spent several years in jail after fraudulently stating the companies financial position, to encourage investment by some of Australia's richest people including James Packer and Lachlan Murdoch.^[39] When it collapsed in 2001, One-tel lost its shareholders in excess of 920 million dollars.

Notes and references [link]

Business and economics portal

Look up accountancy or accounting in Wiktionary, the free dictionary.

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Accountancy

^ Elliot, Barry & Elliot, Jamie: Financial accounting and reporting, Prentice Hall, London 2004, ISBN 0-273-70364-1, p. 3, Books.Google.co.uk
^ Elliot, Barry & Elliot, Jamie: Financial accounting and reporting, Prentice Hall, London 2004, ISBN 0-273-70364-1, p. 3
^ Goodyear, Lloyd Earnest: Principles of Accountancy, Goodyear-Marshall Publishing Co., Cedar Rapids, Iowa, 1913, p.7 Archive.org
^ Singh Wahla, Ramnik. AICPA committee on Terminology. Accounting Terminology Bulletin No. 1 Review and Résumé.
^ ^a ^b Friedlob, G. Thomas & Plewa, Franklin James, Understanding balance sheets, John Wiley & Sons, NYC, 1996, ISBN 0-471-13075-3, p.1
^ Carruthers, Bruce G., & Espeland, Wendy Nelson, Accounting for Rationality: Double-Entry Bookkeeping and the Rhetoric of Economic Rationality, American Journal of Sociology, Vol. 97, No. 1, July 1991, pp. 40-41,44 46,
^ Lauwers, Luc & Willekens, Marleen: "Five Hundred Years of Bookkeeping: A Portrait of Luca Pacioli" (Tijdschrift voor Economie en Management, Katholieke Universiteit Leuven, 1994, vol:XXXIX issue 3, p.302), KUleuven.be
^ www.ifrs.com
^ Pixley, Francis William: Accountancy — constructive and recording accountancy (Sir Isaac Pitman & Sons, Ltd, London, 1900), p4
^ Oldroyd, David & Dobie, Alisdair: Themes in the history of bookkeeping, The Routledge Companion to Accounting History, London, July 2008, ISBN 978-0-415-41094-6, Chapter 5, p. 96
^ Oldroyd, David: The role of accounting in public expenditure and monetary policy in the first century AD Roman Empire, Accounting Historians Journal, Volume 22, Number 2, Birmingham, Alabama, December 1995, p.124, Olemiss.edu
^ Oldroyd, David: The role of accounting in public expenditure and monetary policy in the first century AD Roman Empire, Accounting Historians Journal, Volume 22, Number 2, Birmingham, Alabama, December 1995, p.123, Olemiss.edu
^ Bowman, Alan K., Life and letters on the Roman frontier: Vindolanda and its people Routledge, London, January 1998, ISBN 978-0-415-92024-7, p. 40-41,45
^ Farag, Shawki M., The accounting profession in Egypt: Its origin and development, University of Illinois, 2009, p.7 Aucegypt.edu
^ Rathbone, Dominic: Economic Rationalism and Rural Society in Third-Century AD Egypt: The Heroninos Archive and the Appianus Estate, Cambridge University Press, ISBN 0-521-03763-8, 1991, p.4
^ Cuomo,Serafina: Ancient mathematics, Routledge, London, ISBN 978-0-415-16495-5, July 2001, p.231
^ Matt. 25:19
^ Lewis, Mervyn K.: Islam and accounting, Wiley-Blackwell, Oxford, 2001, p. 113, VT.edu
^ Lewis, Mervyn K.: Islam and accounting, Wiley-Blackwell, Oxford, 2001, p. 109 ,VT.edu
^ Gandz, Solomon (1938). "The Algebra of Inheritance: A Rehabilitation of Al-Khuwarizmi". Osiris (University of Chicago Press) 5: 319–91. DOI:10.1086/368492
^ Struik, Dirk Jan (1987), A Concise History of Mathematics (4th ed.), Dover Publications, ISBN 0-486-60255-9
^ Alan Sangster, Greg Stoner & Patricia McCarthy:) p. 1–2
^ ^a ^b Heeffer, Albrecht (November 2009). "On the curious historical coincidence of algebra and double-entry bookkeeping". Foundations of the Formal Sciences. Ghent University. p. 11. http://logica.ugent.be/albrecht/thesis/FOTFS2008-Heeffer.pdf.
^ Mills, Geofrey T. "Early accounting in Northern Italy: The role of commercial development and the printing press in the expansion of double-entry from Genoa, Florence and Venice" (Critical Perspectives on Accounting, Vol. 4 No. 2, June 1993, pp. 113-140)
^ Thiéry, Michel: Did you say Debit?, Assumption University (Thailand), AU-GSB e-Journal, Vol. 2 No. 1, June 2009, p.35, AU.edu
^ Lee, Geoffrey A., The Coming of Age of Double Entry: The Giovanni Farolfi Ledger of 1299-1300, Accounting Historians Journal, Vol. 4, No. 2, 1977 p.80 University of Mississippi
^ Lauwers, Luc & Willekens, Marleen: "Five Hundred Years of Bookkeeping: A Portrait of Luca Pacioli" (Tijdschrift voor Economie en Management, Katholieke Universiteit Leuven, 1994, vol:XXXIX issue 3, p.300), KUleuven.be
^ Alan Sangster, Greg Stoner & Patricia McCarthy: "The market for Luca Pacioli's Summa Arithmetica" (Accounting, Business & Financial History Conference, Cardiff, September 2007) p.1–2, Cardiff.ac.uk
^ Carruthers, Bruce G., & Espeland, Wendy Nelson, Accounting for Rationality: Double-Entry Bookkeeping and the Rhetoric of Economic Rationality, American Journal of Sociology, Vol. 97, No. 1, July 1991, pp. 37
^ vSangster, Alan: "The printing of Pacioli's Summa in 1494: how many copies were printed?" (Accounting Historians Journal, John Carroll University, Cleveland, Ohio, June 2007)
^ Lauwers, Luc & Willekens, Marleen: "Five Hundred Years of Bookkeeping: A Portrait of Luca Pacioli" (Tijdschrift voor Economie en Management, Katholieke Universiteit Leuven, 1994, vol:XXXIX issue 3, p.292), KUleuven.be
^ Lauwers, Luc & Willekens, Marleen: "Five Hundred Years of Bookkeeping: A Portrait of Luca Pacioli" (Tijdschrift voor Economie en Management, Katholieke Universiteit Leuven, 1994, vol:XXXIX issue 3, p.296), KUleuven.be
^ Alan Sangster, Using accounting history and Luca Pacioli to teach double entry, Middlesex University Business School, September 2009, p.9, Cardiff.ac.uk
^ Poovey, Mary "A history of the modern fact" (University of Chicago Press, 1998) Ch.2 p.30, 58 & 54
^ ^a ^b Astrid Ayala and Giancarlo Ibárgüen Snr.: "A Market Proposal for Auditing the Financial Statements of Public Companies" (Journal of Management of Value, Universidad Francisco Marroquín, March 2006) p. 41, UFM.edu.gt
^ Bratton, William W. "Enron and the Dark Side of Shareholder Value" (Tulane Law Review, New Orleans, May 2002) p. 61
^ "Enron files for bankruptcy". BBC News. 2001-12-03. http://news.bbc.co.uk/1/hi/business/1688550.stm. Retrieved 2008-03-15.
^ Aiyesha Dey, and Thomas Z. Lys: "Trends in Earnings Management and Informativeness of Earnings Announcements in the Pre- and Post-Sarbanes Oxley Periods (Kellogg School of Management, Evanston, Illinois, February, 2005) p. 5
^ Cratchley, Drew (20 November 2009). "One.Tel saga not over for James Packer and Lachlan Murdoch". The Daily Telegraph. http://www.dailytelegraph.com.au/business/news/onetel-saga-not-over-for-james-packer-and-lachlan-murdoch/story-e6frez80-1225800268330?from=public_rss.

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Contents

Theory [link]

Etymology [link]

History [link]

Token accounting in ancient Mesopotamia [link]

Accounting in the Roman Empire [link]

Islamic accounting and algebra [link]

Luca Pacioli and double-entry bookkeeping [link]

Accounting in the internet era [link]

Accounting scandals [link]

Notes and references [link]

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