Creativity in Accounting

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Accounting is generally referred to as the standard set of rules, procedures and practices that define and provide a framework to the management and presentation of financial statements and records by an entity. Hence, the methodology and the profession is not generally associated with terms like creativity, innovation and inspiration because the prescribed guidelines hardly leave any room for the inclusion of anything new or different. But human brain is a place full of ideas. People always find a loophole to enter a puzzle, in order to distort it. Similarly, even accountants always find or create opportunities for twisting and turning the recording of different items, often done for their own or the company’s benefit. The numerous factors that drive or motivate accountants to adopt these “creative” practices include personal benefits, job security or some benefits, job security or some personal satisfaction.

The most common practice involved in the accounting creativity is the boosting of profits, revenues and the overall balance sheet of the firm. Companies often want to demonstrate a strong financial position in the current, as well as the future scenario and hence end up overvaluing their assets most of the time. The accountants normally show a provision for the doubtful accounts in the balance sheet of the organization, while they also end up manipulating their inventory levels by overstating their values.

The other practice commonly adopted in accounting is the undervaluation of the liabilities. While, the overvaluation of the assets lead to higher income and stronger financial position for the company, the undervaluation also at the same time reduce the debt, hence strengthening the position. Companies can manipulate the pension accounting for changing or earnings and the liabilities. The representation of the contingent liabilities can also be changed for personal benefits, hence leading to numerous discrepancies.

Hence, it is extremely necessary for the investors and third parties to analyze and study the statements properly so that they don’t overlook these discrepancies and changes in the records. If there are methodologies to find loopholes in the accounting standards for altering the rules for individual benefits, there surely have to be ways for determining these inflation or deflation of numbers. The manipulated numbers have shocked and hurt the market several times in the past and will continue to do so in the future in newer and more innovative ways. Thus, its time that investors use their creativity for defeating the creativity already associated with accounting.

This article has been compiled by Classof1.com, a leading online Homework-Help provider.

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  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).

Programs:

  • Bachelor of Science in Accounting
  • Bachelor of Science in Business - Accounting

CTU can help you connect to what matters most: a powerful professional network, faculty who are real-world professionals and innovative technology. And now several CTU degree programs are ranked by U.S. News Best Online Programs for 2015.  Are you in?

Programs:

  • Bachelor of Science in Accounting
  • Bachelor of Science in Business Administration - Finance
  • Online degrees offered include BA in Accounting, BA in Business Administration, MBA, and more.
  • Business students may be eligible for scholarships such as the Entrepreneurship Scholarship.
  • Courses help students develop knowledge of marketing, accounting, economic principles, and financial management.
  • Business Administration students can specialize in areas such as Entrepreneurship, Finance, and Project Management.

Programs:

  • BA/Accounting
  • BA/Finance
  • BA/Sports and Recreation Management - Finance
  • And more...

WELCOME TO KAPLAN UNIVERSITY

Online Education That Fits Your Life

For 80 years, we’ve been preparing students for career success. We’ve led the wayso that our students can too.

Globally Renowned Purdue to Acquire Kaplan University

Purdue University, one of the nation's most respected universities, will acquire Kaplan University and create a new, nonprofit, public institution within the Purdue system. Pending regulatory approvals, this exciting transition is expected to take place later this year. This change will be seamless—during the transition, you will still be able to enroll at Kaplan University, earn a high-quality education, and meet your educational and career goals.

Programs:

  • BS in Accounting
  • BS in Accounting - Managerial Accountancy
  • BS in Accounting - Public Accountancy
  • And more...
  • Designated as a 2015 Military Friendly® School by Victory Media, publishers of G.I. Jobs®.
  • Each program is designed to instill the knowledge, ethical values, and interpersonal skills of professional practice and to foster values of social responsibility.
  • Offers several flexible learning options, including a blended format that combines campus and online learning.
  • Several scholarship opportunities are available for students who qualify.

Programs:

  • Business Administration - Accounting (BS) (Online)
  • Business Administration - Finance (BS) (Online)
  • • Liberty University’s online programs ranked in the top 10 out of more than 2,100 colleges & universities for academic quality, affordability, and accessibility.*
  • 100% online programs at associate, bachelor’s, master’s, and doctoral level.**
  • Transfer up to 90 credits into an undergraduate degree program.
  • Up to 50% of your master’s degree can be transferred in to help you get the most out of your hard work and maximize the credit you previously earned.
  • *BestColleges.com Gold Medal of Distinction
  • **excludes licensure, certification, and some doctoral programs

Programs:

  • BS in Business - Finance

Making the decision to earn your degree and pursue your career goals could be the best decision you ever make. Enroll at ECPI University and you’ll join a collaborative and fostering learning environment, surrounded by faculty and staff who are there to support you through the entire process.


What sets ECPI University apart? Just ask the employers who hire our graduates. Since 1966, more than 3,800 employers have looked to ECPI for talented professionals who are capable of entering the workplace and doing the job right on the very first day. That’s because our curriculum is designed to meet the needs of today’s highly-specialized job market.

 

What Are You Waiting For?

Programs:

  • Accounting - Bachelor's
Locations:  Newport News

The Secret to Getting Ahead is Getting Started

Congratulations! Your interest in Independence University is an important first step toward changing your life. A career-focused degree is the key to a new career with a potentially higher income, better benefits, and more satisfaction.

We want to help you get that degree. Consider:

1.       Start Fast, Finish Fast: You can earn an Associate’s degree in 20 months, and a Bachelor’s degree in 30 to 36 months.*

2.       Save up to $5,000 on your college degree.† You can afford college with our new Fresh Start Scholarships!

3.       Tuition Assistance: Financial aid and grants are available to those who qualify.

Programs:

  • Accounting (BS)
  • Accounting - Forensic Accounting (BS)
  • Business Management & Accounting (AAS)
  • Are You a Natural Leader or Good with Numbers? Get Educated in the Business Field.
  • Build the Capabilities and Connections to Power Your Future.
  • Business Administration & Management, Accounting, Marketing Degree Programs and More From Top Colleges that Fit Your Needs.
  • Find Schools Online or Near You & Get Info for FREE Today!

Programs:

  • Online and ground-based program areas include Fashion Marketing and Management and more.
  • Students can study branding, event management, and public relations to help them prepare for a marketing career
  • Course topics include Fundamentals of Business, Brand Strategy, Project Management, and Principles of Market Research
  • Over 50 locations nationwide, with a student support team dedicated to helping students grow
  • Join our next Open House on 10/21 (10/28 @ select locations)!

Programs: