CPA was hired to be an expert witness in a civil fraud case. On cross-examination the opposing attorney asked the expert a seemingly simple question: “Would you please define ‘fraud’ for the jury?” ...

An accounting system tracks and controls the income and expenses of a business. Accounting systems can be as simple as a pen and notepad, and can be as complex as an international accounting staff of ...

Ethical and Legal Considerations in Accounting Best practices for maintaining the trust and confidence that are the lifeblood of the global financial system. Professional ethics encompass the personal ...

Financial accounting is a specific type of accounting that uses standardized processes and guidelines for businesses to record their financial transactions and prepare financial statements for ...

The whole point of accounting is to present a precise financial picture of your business operations. By the accepted standards of the industry, financial accounting consists of five basic elements.

So, you're interested in accounting but aren’t sure if earning your bachelor’s degree in accounting is the right move for you. Or, maybe you’ve already started your career but want to elevate your ...

This article was published on Sept. 3, 2025, at 2:39 p.m. on the ChosunBiz MoneyMove site. Choi Woon-yeol, chairman of The Korean Institute of Certified Public Accountants (hereinafter KICPA), ...