Twitter challenger Threads struggles for traction
After a wildly successful first few days, Threads popularity has waned in the weeks since Meta launched its challenge to Twitter, which lives on despite its problems.
Jul 23, 2023
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Internet
After a wildly successful first few days, Threads popularity has waned in the weeks since Meta launched its challenge to Twitter, which lives on despite its problems.
Jul 23, 2023
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Internet
Elon Musk announced Saturday that Twitter would temporarily restrict how many tweets users could read per day, in a move meant to tamp down on the use of the site's data by artificial intelligence companies.
Jul 1, 2023
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Consumer & Gadgets
Financial services play vital roles in supporting economic activities. In Nigeria, though, a significant number of people don't have access to essential banking services.
Jun 28, 2023
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Security
Research in the International Journal of Web Based Communities introduces a new and accurate approach to identifying abnormal users in social networks by examining several characteristics of user behavior at once. By tapping ...
Jun 14, 2023
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Consumer & Gadgets
Cashless societies, where transactions are entirely digital, are gaining traction in many parts of the world, particularly after a pandemic-era boom in demand for online banking.
Jun 8, 2023
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Business
Microsoft will pay a fine of $20 million to settle Federal Trade Commission charges that it illegally collected and retained the data of children who signed up to use its Xbox video game console.
Jun 6, 2023
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Business
Netflix on Tuesday outlined how it intends to crack down on the rampant sharing of account passwords in the U.S., its latest bid to reel in more subscribers to its video streaming service as its growth slows.
May 23, 2023
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Internet
French Open organizers are giving all players access to an online tool meant to protect them from cyberbullying and harassment on social media.
May 22, 2023
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Internet
When researchers at a nonprofit that studies social media wanted to understand the connection between YouTube videos and gun violence, they set up accounts on the platform that mimicked the behavior of typical boys living ...
May 16, 2023
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Internet
Elon Musk on Monday announced that Twitter is canceling accounts that haven't been used for a long time.
May 8, 2023
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Accountancy is the process of communicating financial information about a business entity to users such as shareholders and managers. The communication is generally in the form of financial statements that show in money terms the economic resources under the control of management; the art lies in selecting the information that is relevant to the user and is reliable. The principles of accountancy are applied to business entities in three divisions of practical art, named accounting, bookkeeping, and auditing.
Accountancy is defined by the Oxford English Dictionary (OED) as "the profession or duties of an accountant".
Accounting is defined by the American Institute of Certified Public Accountants (AICPA) as "the art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof."
Accounting is thousands of years old; the earliest accounting records, which date back more than 7,000 years, were found in Mesopotamia (Assyrians). The people of that time relied on primitive accounting methods to record the growth of crops and herds. Accounting evolved, improving over the years and advancing as business advanced.
Early accounts served mainly to assist the memory of the businessperson and the audience for the account was the proprietor or record keeper alone. Cruder forms of accounting were inadequate for the problems created by a business entity involving multiple investors, so double-entry bookkeeping first emerged in northern Italy in the 14th century, where trading ventures began to require more capital than a single individual was able to invest. The development of joint stock companies created wider audiences for accounts, as investors without firsthand knowledge of their operations relied on accounts to provide the requisite information. This development resulted in a split of accounting systems for internal (i.e. management accounting) and external (i.e. financial accounting) purposes, and subsequently also in accounting and disclosure regulations and a growing need for independent attestation of external accounts by auditors.
Today, accounting is called "the language of business" because it is the vehicle for reporting financial information about a business entity to many different groups of people. Accounting that concentrates on reporting to people inside the business entity is called management accounting and is used to provide information to employees, managers, owner-managers and auditors. Management accounting is concerned primarily with providing a basis for making management or operating decisions. Accounting that provides information to people outside the business entity is called financial accounting and provides information to present and potential shareholders, creditors such as banks or vendors, financial analysts, economists, and government agencies. Because these users have different needs, the presentation of financial accounts is very structured and subject to many more rules than management accounting. The body of rules that governs financial accounting in a given jurisdiction is called Generally Accepted Accounting Principles, or GAAP. Other rules include International Financial Reporting Standards, or IFRS, or US GAAP.
This text uses material from Wikipedia, licensed under CC BY-SA