You’ll see it in financial statements, tax filings, and board reports. Net profit, on the other hand, often shows up in everyday conversations or informal reports. From this result, we can see that the company would have a net profit of $42,000 if we disregard the interest payment incurring from debts. This number provides a…

Managers supervise multiple engagements and assume administrative responsibilities (e.g., scheduling and performance evaluation) as well as maintaining client relationships. In the past, staff accountants were often charged with performing the most tedious and time-consuming tasks, e.g., vouching cash disbursements. Staff accountants now start off running—analyzing data sets, meeting with clients, and writing algorithms to identify…