by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is the Public Company Accounting Oversight Board?The Public Company Accounting Oversight Board (PCAOB), is an auditing board that oversees the audits of public companies, broker-dealers and other companies. This is a private but non-profit establishment that...
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is Push Down Accounting?Push Down Accounting (PDA) is an accounting convention often used when a parent company purchases a subsidiary. The subsidiary is purchased at a determined price instead of its historical cost. Further, the debt and cost of purchase...
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is Accelerated Cost Recovery System?Accelerated Cost Recovery System, or ACRS, is an accounting method for depreciating assets When using ACRS, a company assigns each asset an expected class life. The class life is the period over which a company will depreciate...
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is Paid-In Capital?Paid-in capital, also known as contributed capital, is used to describe the amount of capital that investors have paid in during the issuance of either common or preferred stock. This process also includes the par value of different...
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is the International Accounting Standards Committee (IASC)?The International Accounting Standards Committee or IASC was an independent private-sector organization. The IASC aimed to achieve uniform accounting principles which businesses and organizations make use...
