✔SOME ACCOUNTING PROFESSIONAL DEGREE

IASB – International Accounting Standards Board.

 FASB – Financial Accounting Standards Board .

 ASB – Accounting Standards Board .

 GASB – Governmental Accounting Standards Board .

 OTHER ORGANIZATION & BODIES

IFIC – International Federation of Accountants

 AIA – Association of International Accountants

 AAA – American Accounting Association

 ICAEW – Institute of Chartered Accountants in England and wales

 SAFA – South Asian Federation of Accountants

 SOME STANDARDS & PRINCIPLES

GAAP – Generally Accepted Accounting principles

 BAS – Bangladesh Accounting Standards

 IFRS – International Financial reporting Standards

 FAS – Financial Accounting Standards (USA)

 FRS – Financial reporting Standards (Uk)

 AUDITING STANDARDS & BODIES

ISA – international Standards on auditing

 IAASB – International Auditing and Assurance Standards Board

 PROFESSIONAL DEGREES & ORGANIZATION

CA = chartered Accountant

 ACA = Associate of Chartered Accountants

 FCA = Fellow of Chartered Accountants

ICAB – Institute of Chartered Accountants of Bangladesh. these kinds of degree provid by Institute of Chartered Accountants of Bangladesh(ICAB)

CPA = Certified Public Accountant

AICPA = American Institute of Certified public Accountant

 PROFESSIONAL DEGREES & ORGANIZATION

CMA = Certified Management Accountants

 ACMA = Associate of Certified Management Accountants

 FCMA =fellow of Certified Management Accountants

PROFESSIONAL DEGREES & ORGANIZATION

CMA = Cost and Management Accountants

 ACMA = Associate of Cost and Management Accountants

 FCMA = Fellow of Cost and Management Accountants

 ICMAB = Institute of Cost and Management Accountants of Bangladesh.those kinds of degree provided by Institute of Cost and Management Accountants of Bangladesh

 PROFESSIONAL DEGREES & ORGANIZATION

CMA = Chartered Management Accountants

 ACMA = Associate of Chartered Management Accountants

 FCMA = Fellow of Chartered Management Accountants

CIMA = Chartered institute Management Accountants. those degree provided by Chartered institute Management Accountants

 PROFESSIONAL DEGREES & ORGANIZATION

CAT = Certified Accounting Technician

 ACCA = Associate of chartered Certified Accountants

 FCCA = fellow of chartered Certified Accountants

ACCA = Association of chartered Certified Accountants. those degree provided by Association of chartered Certified Accountants

Q👍 what is Financial Accounting?

Answer : The area of accounting concerned with reporting financial information to interested external parties.

Generally Accepted Accounting Principles (GAAP): Authoritative guidelines that define accounting practice at a particular time.

Internal Revenue Service (IRS): A government agency that prescribes the rules and regulations that govern the collection of tax revenues in the U.S.

Securities and Exchange Commission (SEC)S: The government body responsible for regulating the financial reporting practices of most publicly owned corporations in connection with the buying and selling of stocks and bonds.

 Q👍 : what is Intangible Assets ?

Answer : Intangible assets include patents, copyrights, trademarks, trade names, franchise licenses, government licenses, goodwill, and other items that lack physical substance but provide long-term benefits to the company. Companies account for intangible assets much as they account for depreciable assets and natural resources. The cost of intangible assets is systematically allocated to expense during the asset’s useful life or legal life, whichever is shorter, and this life is never allowed to exceed forty years. The process of allocating the cost of intangible assets to expense Short notes ;

Book value — total assets minus total liabilities. (See also net worth.) Book value also means the value of an asset as recorded on the company’s books or financial reports. Book value is often different than true value. It may be more or less.

Break even point — the amount of revenue from sales which exactly equals the amount of expense. Breakeven point is often expressed as the number of units that must be sold to produce revenues exactly equal to expenses. Sales above the breakeven point produce a profit; below produces a loss.

Deferred income — a liability that arises when a company is paid in advance for goods or services that will be provided later. For example, when a magazine subscription is paid in advance, the magazine publisher is liable to provide magazines for the life of the subscription. The amount in deferred income is reduced as the magazines are delivered is called amortization, and companies almost always use the straight-line method to amortize intangible assets.

 Return on investment (ROI)

– a measure of the effectiveness and efficiency with which managers use the resources available to them, expressed as a percentage. Return on equity is usually net profit after taxes divided by the shareholders’ equity. Return on invested capital is usually net profit after taxes plus interes