As an accountant, understanding the difference between cash and accrual accounting is vital in operating a business. Due to the sheer amount of reports and accruals they deal with daily, there exists a running joke that the world they live in is a cruel one. The difference between the two lies in the timing of when […]

The growing list of complex legislative requirements puts more and more pressure on business owners to remain updated and compliant with them. The introduction of these requirements has created a need for companies to ensure that they remain compliant. Many business owners and directors now face this challenge, as failure to comply with these obligations […]

A commonly asked question is the difference between financial accounting and managerial accounting since each involves a distinctly different career path.  Financial accounting and managerial accounting are two of the four largest accounting disciplines, with many similarities in their usage and approach. However, despite these similarities, there are significant differences between the two.  Reporting Standards […]