The accounting field has experienced multiple changes in the past few decades and it continues to evolve with the help of technology and information. While many of the principles remain the same, many accountants are changing how they report income within a company to better understand the financial situation and how it needs to change. This method, called hybrid accounting, is spreading rapidly within the field as it becomes increasingly useful. Here’s what you need to know about hybrid accounting to understand the role of this strategy in your future career. Learning the Different Methods of Accounting Today’s accountants use […]

There’s a lot more to becoming a successful accountant than just a love of numbers. If you’re thinking about a Master’s in Accounting, prepare for the challenges of the application process and coursework with these tips. 1. Consider Your Timing Going to graduate school is an important decision, one that could change the trajectory of your career. As a student, you will find yourself devoting your time and energy toward learning, networking and advancing your prospects. That’s why it’s important to consider your timing very carefully. It’s generally best to make the decision only after you’ve taken at least half of your credits […]

The business world places a strong emphasis on relationships, evidenced by the ubiquity of networking events, the prevalence of employee bonding efforts, the value placed on office collaboration and the creation of leadership teams.  Clearly, building and maintaining a strong rapport with other individuals in your field is one key to career success. This is what makes mentoring relationships so important in nearly every field, including accounting. Finding a mentor at work or while you’re in graduate school can provide an unparalleled advantage in both your career and personal advancement. If you’re a current master’s in accounting student or recent […]

If you’re on the path to obtaining your master’s in accounting, you have likely learned the theories, steps and facts associated with performing audits. However, you may be feeling anxious when it comes time to venture into your first real audit. Read on to learn more about making your first solo audit as productive and stress-free as possible: Step #1: Identify the scope and purpose In many cases, you will be provided with the reason behind an audit, whether to ensure compliance with new IRS regulations or to prepare a business for sale. However, part of being a valuable asset in accounting is the ability to pinpoint and […]

The Enron and Arthur Andersen scandal in 2001 led to the biggest accounting debacle in recent history. The collapse of Enron, though scandalous, holds unique lessons for today’s students and sheds light on how important it is for every company to maintain good accounting practices. As time passes, more debacles arise that perpetuate this lesson. Two recent scandals highlight that there is still much to be learned and applied in the corporate world in terms of accounting best practices. Hewlett-Packard and Autonomy Debacle In 2013, tech giant Hewlett-Packard (HP) took an $8.8 billion hit thanks to its purchase of British […]