Enlightened Accounting (2)

Enlightened Accounting (2)

1 of our readers asked whether we were conscious of people leaving the Large four to take nice jobs. Of course. But it depends on what you call a good job, and beauty is in the eye of the beholder. This is a great topic, so we will dedicate a few separate posts to it, exploring diverse avenues of departure from the Large four.

These costing approaches, are they regarded standard? For instance the classic management accounting and the strategic management accounting. I have heard of ABC and Kaizen costing getting categorized as a strategic management accounting, but are the ones stated above can be regarded as traditional management accounting? BTW fantastic article, actually aids to clarify the varieties of costing!

Incidentally, Accrued Salaries & Wages Account would represent a liability and Prepaid Rent Account would represent an asset. Any worth that turns into an expense throughout a subsequent accounting period is a liability as at the finish of the existing accounting period conversely, any value that turns into an revenue in the course of a subsequent accounting period is an asset as at the end of the present accounting period.

There is of course a lot more detail I could incorporate here. (I have a chapter about this in my upcoming Alberta Probate Kit, to be released in 2011). This post is intended to give you an notion of what is involved. Executors often have the choice of hiring accountants or lawyers to aid them with the accounting, which is a great notion if the estate is complicated.

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