Creativity in Accounting

image_f87c42f6a5382b45c924c29aefc7a657

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.

For assistance with your academic assignments in Accounting, you can visit http://classof1.com/homework-help/accounting-homework-help

Classof1.com is open 24/7. You can call us at 1-877-252-7763 or drop an email to learning@classof1.com


Matching School Ads
  • 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...
  • Ranked among the Best Online Bachelor’s Programs by U.S. News and World Report in 2015.
  • Ranked among the Best Online MBA Programs by U.S. News and World Report in 2015.
  • Founded in 1890, it has a campus in Waterbury, CT and offers online degree program in eight-week modules, six times a year.
  • About 800 students are enrolled at the main campus, and about half of them commute.
  • Online courses make it possible for students to earn a bachelor’s degree in as little as 18 months and a master’s degree in 14-24 months.

Programs:

  • B.S. in Accounting
  • B.S. in Business Administration / Accounting
  • B.S. in Finance
  • And more...
  • Offers M.B.A. and bachelor’s programs in Business Administration with concentrations in Marketing, Accounting, and more
  • Ranked among the Best Online MBA Programs and Graduate Business Programs for 2017 by U.S. News and World Report
  • Coursework covers topics like project management, management fundamentals, and business strategies
  • Business students complete a capstone class that demonstrates their knowledge of business concepts

Programs:

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

Building on Purdue's mission to provide greater access to affordable, world-class education, Purdue University Globaldelivers a fully personalized online experience that's tailored to working adults. By opening the doors to adults who need flexibility to fit learning into their busy lives, we make it possible to achieve a high-quality education from a prestigious university system—completely online.

Programs:

  • BS in Accounting - Public Accountancy
  • BS in Accounting
  • BS in Accounting - Managerial Accountancy
  • And more...

You’re serious about success. With your busy schedule and the desire to move your career forward, you can earn an accredited associate, bachelors or master’s degree at a pace that works for you anywhere, anytime, 24/7.

At AIU, the Serious U, you can get started to get ahead.

Programs:

  • Bachelor of Accounting
  • Bachelor's (BBA) - Accounting
  • Bachelor's (BBA) - Finance

Centura College, with campus locations in Virginia, South Carolina and Florida, is dedicated to helping students gain the skills and attitudes necessary to succeed. Drawing from over 30 years of career school experience.

Programs:

  • Associate of Applied Science Degree in Business-Concentration in Accounting Administration
Locations:  Newport News
  • Education Connection is a 100% Free College Matching Service used by 50,000 People Daily.
  • Get Matched to the Right Business Administration and Management, Accounting, Healthcare Administration, Marketing and Entrepreneurship Degree Program for YOU.
  • Affordable and Flexible Business Degree Programs from Top Colleges Across the Nation. Both Online And Campus!
  • Just Fill Out a Few Questions and You Can Find Your Perfect Business Degree Program Within Minutes.
  • Start Using our Fast, Free, and Easy Matching Service Right HERE and Right NOW!

Programs:



Matching School Ads
  • Fortis offers nursing programs including ADN, PN, BSN degrees, and more
  • 40+ schools in 15 states including Florida, Arizona, Ohio, and Virginia
  • All colleges are accredited by ABHES, ACCSC, ACICS, or other accrediting bodies
  • Fortis Online serves benefits to US military service members
  • Grants & scholarship aid may be available for qualifying students

Programs:

  • Registered Nurse to Bachelor of Science in Nursing
  • Associate Degree in Nursing
  • Practical Nursing
  • And more...
Locations:  Grand Prairie

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:

  • Nursing (RN) - Associate's
  • Practical Nursing - Diploma
Locations:  Newport News
  • RNs, ready to take your nursing career to the next level? Earn your BSN online with GCU.
  • The baccalaureate degree in nursing and master's degree in nursing at GCU are accredited by the Commission on Collegiate Nursing Education
  • GCU's courses are taught by practicing nurses and experts who share knowledge and experience in areas of clinical patient care, healthcare management and professional nursing practice and leadership.
  • Gain a comprehensive view of patient care principles to strengthen your ability to care for patients and take on hospital responsibilities with your BSN.
  • Focus on family-centered healthcare, health history and physical examinations, applied health care statistics, nursing leadership and development and more.

Programs:

  • B.S. in Nursing (Registered Nurse - R.N. to B.S.N)

Building on Purdue's mission to provide greater access to affordable, world-class education, Purdue University Globaldelivers a fully personalized online experience that's tailored to working adults. By opening the doors to adults who need flexibility to fit learning into their busy lives, we make it possible to achieve a high-quality education from a prestigious university system—completely online.

Programs:

  • Bachelors of Science in Nursing - RN to BSN
  • Medical Assisting

Centura College, with campus locations in Virginia, South Carolina and Florida, is dedicated to helping students gain the skills and attitudes necessary to succeed. Drawing from over 30 years of career school experience.

Programs:

  • Associate of Occupational Science Degree in Medical Assisting-Concentration in Clinical Support
  • Medical Assisting Diploma
Locations:  Newport News
Want to take your career to the next level? Salem University Online is the perfect place to start. Study online, from anywhere, and gain the skills you need to succeed.

Programs:

  • RN to BSN

The Metropolitan Institute of Health and Technology (MIHT) is dedicated to educating men and women to serve with confidence in the health and technology industry. MIHT provides career training for students to move forward in their chosen field of study, changing their lives for the better. MIHT strives to provide quality education with affordable tuition. Our staff works to determine the best financial options for students on an individualized level.

Programs:

  • Clinical Medical Assisting
Locations:  Lorton

100% Online & No Standardized Testing

We are committed to helping you achieve your goals and complete your degree as quickly as possible.

Programs:

  • BS in Nursing (RN to BSN)
  • Interested in Helping Others? Get Educated in the Medical Field.
  • Medical Assisting, Nursing, Health Sciences Degree Programs and More From Top Colleges that Fit Your Needs.
  • Build the Capabilities and Connections to Power Your Future.
  • Find Schools Online or Near You & Get Info for FREE Today!

Programs: