Accounting

Journal entries are entered in ..... order, meaning by date, with the earliest date first.

..... budgeting is a form of forecasted cost accounting for long-term projects or expenditures.

Cost accounting applications are major financial ..... in everyday corporate decision-making.

..... costs change in proportion to the level of production activity, while fixed costs remain unchanged.

Commercial accounting rules are used to determine the commercial results of a single entity, and establish, in particular, whether a profit or a loss has resulted for ..... period.

With the activities and interests of investors, lenders and companies becoming increasingly global, the Securities and Exchange Commission is increasing its involvement in a number of forums to develop a globally accepted, high quality financial reporting ......

When issuers prepare financial statements using more than one set of accounting standards, they may find it difficult to explain to investors the accuracy of both sets of financial statements if significantly different operating results, financial ..... or cash flow classifications are reported under different standards for the same period.

Audit firms should have a responsibility to ..... to the highest quality auditing practices, on a world-wide basis, to ensure that they are performing effective audits of global companies participating in the international capital markets.

..... Depreciation represents the expense related to the fixed assets still carried on the books of the company; sometimes the term 'reserve for depreciation' is used.

Many futures contract months of the same commodity trade simultaneously on the market, sometimes even years into the future; the contracts other than the current one are called the ..... months, even though they are for future months.