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The accounting equation plays a significant role as the foundation of the double-entry bookkeeping system. The primary aim of the double-entry system is to keep track of debits and credits and ensure that the sum of these always matches up to the company assets, a calculation carried out by the accounting equation.
[1] [2] See Finance § Risk management for an overview. Financial risk management as a "science" can be said to have been born [3] with modern portfolio theory, particularly as initiated by Professor Harry Markowitz in 1952 with his article, "Portfolio Selection"; [4] see Mathematical finance § Risk and portfolio management: the P world.
Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. [3]
An auditor is an independent accounting firm used to perform a complete audit the fund's financial statements. The year-end audit is performed in accordance with the standard accounting practices enforced within the country in which the fund it established, typically US GAAP or the International Financial Reporting Standards (IFRS). [ 147 ]
The 2008 financial crisis, also known as the global financial crisis, was a major worldwide economic crisis, centered in the United States, which triggered the Great Recession of late 2007 to mid-2009, the most severe downturn since the Wall Street crash of 1929 and Great Depression.
Disability recipients Survivors benefits Retired Social Security In the United States, Social Security is the commonly used term for the federal Old-Age, Survivors, and Disability Insurance (OASDI) program and is administered by the Social Security Administration (SSA). [1]
Accounting documents or document records regroup every document that plays a role in the preparation of financial statements for a company, like income statements and balance sheets. They include records of monetary transactions, assets and liabilities, ledgers, journals, etc. Accounting documents and records are the physical objects upon which ...
Joseph Robinette Biden Jr. [b] (born November 20, 1942) is an American politician who was the 46th president of the United States from 2021 to 2025. A member of the Democratic Party, he served as the 47th vice president from 2009 to 2017 under President Barack Obama, and represented Delaware in the U.S. Senate from 1973 to 2009.