World Congress Of Accountants - WCOA

DEFINITION of 'World Congress Of Accountants - WCOA'

The leading international symposium for the accountancy profession. The World Congress of Accountants (WCOA) brings together leaders in accounting, business and regulation to explore current issues and innovations on an international and regional level. It is organized by the International Federation of Accountants (IFAC), in collaboration with the national accounting organization of the host country and other sponsors.

BREAKING DOWN 'World Congress Of Accountants - WCOA'

Dubbed as the "Olympics of the accountancy profession," the congress was first held in St. Louis in 1904. It was held in a different city every five years, but as of 2000 it has been held every four years. The 18th World Congress of Accountants, held in Kuala Lumpur, Malaysia, in November 2010, attracted 6,000 delegates from 134 countries. The Congress has accelerated the development of international standards in accounting and auditing.

RELATED TERMS
  1. Chart Of Accounts

    A listing of each account a company owns, along with the account ...
  2. Account History

    All activity within an account, usually since inception. In a ...
  3. Savings Account

    A deposit account held at a bank or other financial institution ...
  4. Money Market Account

    An interest-bearing account that typically pays a higher interest ...
  5. Due From Account

    An asset account in the general ledger that indicates the amount ...
  6. Accounting Standard

    A principle that guides and standardizes accounting practices. ...
Related Articles
  1. Investing Basics

    What Is A Trading Account?

    A trading account enables an investor to buy and sell securities.
  2. Economics

    What is a Capital Account?

    Capital account is an economic term that refers to the net change in investment and asset ownership for a nation.
  3. Professionals

    What is Accounting?

    Accounting is the recording of financial transactions of a business or organization. It also includes the process of summarizing, analyzing and reporting these transactions in financial statements.
  4. Forex Education

    Accounting Basics: Branches Of Accounting

    By Bob Schneider Accounting can be divided into several areas of activity. These can certainly overlap and they are often closely intertwined. But it's still useful to distinguish them, not ...
  5. Savings

    Understanding Savings Accounts

    A deposit account held at a bank or other financial institution that provides principal security and a modest interest rate.
  6. Professionals

    Career Advice: Accounting Vs. Auditing

    Understand the subtle distinctions between accounting and auditing, and learn what each offers a new graduate in terms of salary, job security and daily life.
  7. Options & Futures

    Demystification Of Bank Accounts

    Find out which type of account suits your specific needs.
  8. Bonds & Fixed Income

    Understanding Capital And Financial Accounts In The Balance Of Payments

    The current, capital and financial accounts compose a nation's balance of payments.
  9. Professionals

    Career Advice: Accountant Vs. Controller

    Learn about the differences between controllers and accountants, how the two are related and which is the best career choice for aspiring bookkeepers.
  10. Savings

    4 Savings Accounts for Investors

    Curious about the best saving accounts and which ones suit investors?
RELATED FAQS
  1. What is the difference between the current account and the capital account?

    Learn how to differentiate between the capital account and the current account, the two components of the balance of payments ... Read Answer >>
  2. How does the balance of trade impact a nation's capital accounts balance?

    Find out how a country's capital account is related to the current account, the financial account, and the overall balance ... Read Answer >>
  3. What does it mean when the shares in my account have been liquidated?

    An account liquidation occurs when the holdings of an account are sold off by the firm in which the account was created. ... Read Answer >>
  4. What are the main objectives of cost accounting?

    Learn about the main benefits of cost accounting systems, why they are different from financial accounting and why they are ... Read Answer >>
  5. What are the main advantages and disadvantages to the cost accounting method?

    Read a brief overview of the main advantages and disadvantages of the cost accounting method as it relates to business analysis ... Read Answer >>
  6. How are investment banks regulated in the United States?

    Read about the extensive regulations placed on investment banks in the United States, beginning with the Glass-Steagall Act ... Read Answer >>
Hot Definitions
  1. MACD Technical Indicator

    Moving Average Convergence Divergence (or MACD) is a trend-following momentum indicator that shows the relationship between ...
  2. Over-The-Counter - OTC

    Over-The-Counter (or OTC) is a security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, ...
  3. Quarter - Q1, Q2, Q3, Q4

    A three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.
  4. Weighted Average Cost Of Capital - WACC

    Weighted average cost of capital (WACC) is a calculation of a firm's cost of capital in which each category of capital is ...
  5. Basis Point (BPS)

    A unit that is equal to 1/100th of 1%, and is used to denote the change in a financial instrument. The basis point is commonly ...
  6. Sharing Economy

    An economic model in which individuals are able to borrow or rent assets owned by someone else.
Trading Center