101 Financial Accounting Practices

More often that not, our accounting practices at the corporate levels have been very different from what actually goes on in our schools and universities. Many of our graduate students in accounting get into the real world of work and realised that whatever they learned in the classrooms haven’t much impact on the practice of accounting in the corporate environment. It is very pathetic to see graduates in accounting with very good honours but cannot conduct a simple bank reconciliation investigation when they got to the office. The business or corporate environments, I agreed, differ from one industry to another and also from one particular organisation to the other. However, there are various issues which are very common with any accounting practice, such as taxation and VAT. There is also a generally accepted practices in the business environment which are practicable within every organisation. This book is compiled to help aspiring accounting professionals to engage themselves in both theory and practical questions in accounting. Most of the questions in this book are designed to help students understand some practical accounting works in the office environment.