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Accountancy Resources

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I’ve been asked many times, “what is the best learning tool that an accounting student has in their arsenal”. When I’ve proposed this question to other modern accountants, they generally list out the programs they utilize most, Quicken, Excel, or the Intuit program du jour; all are cited as the best learning tools for the future accountant. My own response to this question may surprise anyone... read more

Blogs

A recent IRS Notice of Deficiency was sent to Joseph D. Scully, Jr. requiring him to pay additional tax, fines and penalties of $26,000 for a three period. This case was resolved in the U. S. Tax Court for an amount approximate to what the IRS was seeking. The main problem appears to be one that many of us have trouble with, lack of consistency. We all start out with good intentions, but over... read more

Blogs

As accountants how do we teach the young/new learners coming into our field the evils of unethical behavior? You would believe that the recent examples of Bernie Madoff and the Enron executives are the best cautionary tales to someone making the choice between fraud and honesty, but the reality is different. Most swindlers never consider themselves criminals and many perpetrators of fraudulent... read more

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MP3 players example   The profit in millions of dollars for an MP3 player can be done with the polynomial P=-4x^3 + 12X^2 + 16X. X represents the number of MP3 players produced annually. The company currently produces 3 million MP3 players and makes a profit of $ 48,000,000. To figure out the least amount of MP3 players the company can produce and still make the same profit... read more

Blogs

When embarking upon a new subject, it is good idea to be reasonable about your goals and aspirations. This is especially true in accounting. In addition, remember to learn one side of the subject at a time. For instance, we always ask for directions, and hope to get the fastest and most accurate ones. Therefore, you would never understand or remember directions that were given to you from both sides... read more