Introduction to the Monetary Model

16 Aug 2017 17 Aug 2017

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  A monetary model is a revised depiction of reality, planned to yield hypotheses about budgetary lead that can be attempted. A basic part of a budgetary model is that it is generally subjective in diagram in light of the way that there are no objective measures of fiscal outcomes. Assorted money related investigators will make particular judgments about what is relied upon to illuminate ...

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Concepts and Features in Bookkeeping

16 Aug 2017 17 Aug 2017

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1. Name two (2) business needs relating to bookkeeping Business needs will vary according to what type of business it is. Accurate recording and maintenance of transactions is a business need relating to bookkeeping another is compliance with legal requirements. As a bookkeeper you are required to be up to date with legislation related with bookkeeping to make sure you are able to do certain ...

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The Co-operative Group Financial Report and Auditing

16 Aug 2017 17 Aug 2017

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Background knowledge, evolution from origin and ethical issues Ever since the establishment of the Rochdale Society of Equitable Pioneers in 1844 together with the subsequent major merger incurred within its expansion period during 2000 to 2012. The Co-operative Group, colloquially known as the Co-op, has been burgeoning for the last 17 decades, contingent upon the Rochdale principle which espouses dividend returns to members. Pending between ...

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Global Impacts on Management Accounting

16 Aug 2017 17 Aug 2017

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Increasing global business competitiveness. Globalization results in more opportunity and threats, as well as more competition and customers for many countries and organisations. Business need to improve their competitiveness. To realize product differentiation and cost controlling or provide better products or services to customers, deliver responsiveness are most of firms' goal. To realize business competitiveness goal led organisation to take new management accounting systems and ...

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Traditional vs Activity-Based Costing

08 Aug 2017 17 Aug 2017

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 Introduction: It is paramount for all types of firms to invest into a costing system. Cost management enables a firm for continued progression to enable its budget to be more vigorous and ultimately more cost effective. This essay aims to outline the framework for the main two costing systems that determine the costs and predict the activities that are consuming the most resources. To retrieve ...

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Decision Making Process in Firm Partnership

08 Aug 2017 17 Aug 2017

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Summary of Case Charles Tollison was in the middle of an audit engagement when his managing partner told Charles that he was passed on for the promotion to and audit partner. This was not the first time that he had failed to be promoted to audit partner while at his firm. Charles has very little faith when his managing partner, Linton, said, "promised that the ...

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Role of Corporate Budgeting

08 Aug 2017 17 Aug 2017

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Accounting and Financial Management  Budgeting is the Process of expressing quantified resource requirements (amount of capital, amount of material, number of people) into time-phased goals and milestones (BusinessDictionary.com, 2017). Budgets help decision makers to identify problems and to increase their understanding of the task environment (Ahrens 1997). For this reason, budgeting is "still regarded as an organizational imperative if costs are to be controlled ...

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Lean Manufacturing Disadvantages

08 Aug 2017 17 Aug 2017

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Introduction "The most noteworthy evolution of lean accounting in recent years has been a sharpening focus on value. Lean has always been centered on creating value for customers and eliminating non-value adding waste" (Asefeso, p 9). Lean accounting has been steadily making it possible for manufacturers to explicitly measure value in financial terms and to focus improvement efforts on increasing value. With many manufacturers now ...

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Independent Audit Risks

08 Aug 2017 17 Aug 2017

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Case 1.8 1. Misstated development costs and revenue measurement are both inherent risks when auditing live theatrical companies. To detect the first, auditors should design testing procedures to evaluate whether deferred development costs are reasonable to the production. This would involve obtaining itemized lists of costs and comparing them to similar expenditures industry-wide. To test for proper revenue measurement, the auditor would have to compare ...

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Challenges Facing Financial Management in Schools

08 Aug 2017 17 Aug 2017

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The challenges and solutions of financial management in colleges and universities in the era of big data and Internet Abstract- With the development of Internet information technology, public financial management reform deepening, accounting focus Universities facing the management accounting change, the financial sector as a core sector universities, data centers will become a big school and participate in school management, decision-making, analysis and forecasting. ...

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Fair Value Reporting Advantages and Disadvantages

08 Aug 2017 17 Aug 2017

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Discuss the pros and cons of fair value reporting for investors? Why has this trend emerged, and how does asset value volatility seen during and since the Global Financial Crisis effect your views on this? There have been many debates in previous decades amongst the investors, users of the financial statements, on whether fair value accounting is worth being used. According to IFRS 13, fair ...

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Financial Statement Analysis: Hilton Worldwide Holdings

08 Aug 2017 17 Aug 2017

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Company Overview HiltonWorldwide Holdings Inc.is one of the largest and fastest growing hospitality companies in the world. The company is correctly positioned in the industry. We expect Hilton to grow at about 6.92% the same rate as its competitor and to maintain the median returns it currently generates. Hilton has relatively high profit margins while operating with median asset turns. Hilton's year-to-year change in revenues ...

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Theories of Demand for Audit

08 Aug 2017 17 Aug 2017

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Audit refers to an examination of the financial reports of a firm by an independent entity. The separation of business ownership and management in modern society has created a need for accountability; causing the role of audit to change as the needs of stakeholders' change. Audit, in itself, caters to the relationship of accountability; independent from other parts of the firm to provide a true ...

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Importance of Accounting Information in Business Development

08 Aug 2017 17 Aug 2017

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Describe how accounting information helps shareholders and lenders to make decisions concerning the operations and performance of the entity. Accounting information can be used by shareholders and lenders to look at an entity's financial position and whether it is viable to invest or lend to the entity. If the performance of a company has been poor and there is no indication of this improving, a ...

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Contemporary Concepts of Innovation and Organisation Changes

08 Aug 2017 17 Aug 2017

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TABLE OF CONTENT INNOVATION AND CHANGE MANAGMENT....................................................... 3 ROLE OF INNOVATION AND ORGANISATIONAL CHANGE.................................. 4 CONTEMPORARY INNOVATION FRAMEWORKS................................................. 5 THE FACTORS THAT FOSTER INNOVATION........................................................ 5 TYPES OF INNOVATION STRATEGY.................................................................... 6 PROFESSIONAL VALUES AND ETHICS IN INNOVATION...................................... 7 WHY INNOVATION MAY REQUIRE CHANGE IN ORGANISATIONS...................... 8 CRITICALLY ANALYSE THE ROLE OF LEADERSHIP............................................... 9 DESCRIBE THE EFFECTIVENESS OF VARIOUS APPROACHES.............................. 9 CONCLUSTION................................................................................................... 10 BIBLIOGRAPHY...................................................................................................11   BUSINESS 605 ...

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Vershire Company Case Study

08 Aug 2017 17 Aug 2017

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Company Description and Background Vershire Company is a diversified packaging corporation with various large divisions. Its most prominent segment; the Aluminum Can division, is one of the largest manufacturers of aluminum beverage cans in the United states. This case focuses on the budgeting process and performance analysis of Vershire. A major concern of the company is pleasing the customers as most of their buyers have ...

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Guinness Market Entry to Peru

08 Aug 2017 17 Aug 2017

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MASTER IN BUSINESS ADMINISTRATION The following assignment is aimed at evaluating the attractiveness of Peru market as a potential entry market for the Irish Company, Guinness Breweries. Using the method of International Market Selection market will asses under the Systematic Approach and the model called Analytic Hierarchy Process (AHP), we will weigh the three main criteria: Economic, Politics and Cultural. Based on the result ...

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Accounting and Finance for Decision Making

08 Aug 2017 17 Aug 2017

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Financial Management ABC plc has grown from a company with £10,000 turnover to one with a £17m turnover and £1.8m profit in the last five years. The existing owners have put all their financial resources into the firm to enable it to grow. The directors wish to take advantage of a very exciting market opportunity but would need to find £20m of new equity ...

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International Accounting Developments

08 Aug 2017 17 Aug 2017

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Identify the nature of the accounting system used in the country and give supporting evidence to justify the reasons for your decision. As a country, Egypt has experienced a dramatic change towards democracy and transparency. This has further been exposed within the financial statements produced in the country. Through the development of the Egyptian Accounting Standards, the country has transformed from a centralised economy, branded ...

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Impact of Audit Quality of Real Earnings Management

08 Aug 2017 17 Aug 2017

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Abstract This study aims to evaluate the influence of audit quality (auditor size and auditor tenure), political connection, and institutional ownership toward real earnings management. Purposive sampling was conducted and 83 manufacturing companies registered in Indonesian Stock Exchange during 2010-2014 were acquired as the samples. For testing the hypotheses, panel data regression random effect model was used. The results showed that auditor size and institutional ...

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Volkswagen and Nike Accountability Mechanisms

16 Aug 2017

5 (1,693 )

"An ever evolving set of responsibilities (and accountabilities) for the functioning and welfare of individuals, society and the environment is entrusted to public sector organisations and private business enterprises." Using both positive and negative examples discuss the above statement. Accountability is defined as "the fact or condition of being accountable; responsibility" (Oxford Dictionary, 2016). It is an essential part of all businesses both large ...

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Rising Costs: Retail Industry and Funeral Industry

16 Aug 2017

3 (1,096 )

The retail industry feeds more than 64 million people every day in UK. The retail sales account for £177.5bn makes 51% contribution to UK economy. It employs 3.8 million people make up 14% employment in UK (IGD, 2015). Figure: Total Retail Spend by Category (Retail Economics, 2016). As the figure shows, the retail industry can divided into several categories. The largest part is food ...

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History of Federal Taxation in the United States

16 Aug 2017

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The existing taxation policies in the U.S. have been characterized by a myriad of changes over the decades as a result of variations in the government's roles as well as the changing circumstances. The U.S. Department of Treasury asserted that the kinds of taxes imposed, their percentages as well as the size of the collections differ from what they were 100 years ago due to ...

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Kirkpatrick's Four-Level Training Evaluation Model

16 Aug 2017

6 (2,327 )

Case Scenario Sunshine Supermarket is an upcoming supermarket in Singapore. It first opened its door for business in the year 2014 at Jurong East. Sunshine Supermarket's primary aim is 'to serve the customer'. Keeping existing customers happy is important, as they are more likely to return. This is more cost effective for the business than acquiring new ones. Sunshine Supermarket's original product range of grocery ...

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Importance of Workflow Process in Financial System

16 Aug 2017

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2.2 Research questions Key research questions will be: How important is the implementation of the workflow process within the financial system (SAP)? What weakness or issues are evident in the current process in relation to purchases orders approvals? How efficient is the current approval process and how trustworthy? What are the most important activities the management can take to improve the current process? Does ...

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Development of Corporate Governance in Nigeria

08 Aug 2017

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3. Literature Review 3.1 The code of corporate governance Over the years, Nigeria has experienced rapid development with regards to corporate governance. This can be noted in the 2003 Code of Corporate Governance (SEC Code), the 2006 mandatory Code of Corporate Governance for Nigerian Banks post consolidation (CBN Code) and most importantly the 2007 Code of Conduct for Shareholder Associations in Nigeria (SEC Code for ...

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Customer Service Bench Marking

08 Aug 2017

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A) Customer Service Bench Marking The Old Ground Hotel Built in the early part of the 18th Century as a private dwelling and a hotel since 1895. The Old Ground has played its part in the Republics tumultuous beginnings and the Town Hall once incorporated a jail." Currently the hotel is a 4-star hotel ran by the hotel group the Flynn brothers. ...

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Strategic Management Accounting Analysis

08 Aug 2017

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This essay presents a critical analysis of strategic management accounting and the roles of management accountants in it. The starting point for this analysis is the argument presented by Cadez and Guilding (2008, p. 838) that "while the recent past has seen increased interest in SMA, the area is still under-defined and no universally accepted SMA framework exists". Principally, this essay argues that whilst strategic ...

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Internal Audit Effectiveness in Public Sector Organizations

08 Aug 2017

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  Determinant of Internal Audit Effectiveness in Public Sector Organizations: Which factors matter? Abstract Internal audit (IA) play a pivotal role in reinforcing good governance in both public and private organizations through a value-adding role. Yet very few research conducted on the IA effectiveness especially in public sector. The current study aims to examine empirically determinant of effectiveness of IA within organization. Effectiveness scale developed through ...

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British Petroleum Foundation: Financial Analysis

08 Aug 2017

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British Petroleum Foundation British Petroleum (BP) is one of the world's leading integrated oil and gas companies, and it is the third largest energy company and the fourth largest company in the world. It provides customers with energy for heat and light, fuel for transportation, lubricants to support the performance of engines and petrochemicals products to diversify daily use items. BP was founded in 1908 ...

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Co-op Governance, Plan and Strategy Analysis

08 Aug 2017

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Current position of the company; 3 Year Re-build Plan Co-Op is currently in the midst of its 3 year rebuild plan which was first presented in 2014 following the financial crisis related to their banking division. Since then there has been a large investment into their workforce with as many as 5,400 managers attending "Being a Co-op Leader" events and over 70,000 members embarking on ...

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Accounting Information Systems - Example Questions

26 Jul 2017

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ACCOUNTING INFORMATION SYSTEM II INTRODUCTION Accounting is the basic way of organizing and reporting financial information which is all about inflow and outflow of money. Accounting system is also used to identify, analyse, measure, record, summarize and communicate relevant information to the internal and external users. Data is the facts that collected, recorded, stored and processed in information system. While information is the data which is already ...

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Disadvantages of IFRS for SMEs

23 Mar 2015 21 Jul 2017

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Keywords: advantages of ifrs for smes International Financing Reporting can be referred to as a set of accounting standards developed by the International Accounting Standards Board which is applied when preparing the Financial Statement and Balance Sheet of a company. In providing a global framework, IFRS has its own specific goals of how public companies organize and disclose their financial statements. Definition of Small Medium Enterprises (SMEs) ...

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Advantages of Traditional Budgeting

23 Mar 2015 20 Jul 2017

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Keywords: traditional budgeting benefits Traditional budgeting is one the first budgeting systems created. Traditional budgeting system is still commonly used in many organizations today. The reasons why organizations still using traditional budget, this is due to framework of control. The role of the budget is to give focus to an organization, and help the coordination of activities and enable control. Large companies might struggle to plan, coordinate ...

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Principles Based Accounting Advantages

23 Mar 2015 18 Jul 2017

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The primary advantage of principles-based accounting rests in its broad guidelines that can be applied to numerous situations. Broad principles avoid the pitfalls associated with precise requirements that allow contracts to be written specifically to manipulate their intent. A 1981 study sponsored by FASB found evidence that managers purposefully try to structure leases as operating leases to avoid incurring additional liabilities. Providing broad guidelines may improve the ...

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Independence of Mind Example

23 Mar 2015 17 Jul 2017

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Keywords: independence of mind meaning The word of 'INDEPENDENCE' is defined as 'freedom from situations and relationships which make it probable that a reasonable and informed third party would conclude that objectivity either is impaired or could be impaired.' (Kaplan, 2009, pp.117) There are 2 types of independence, that are independence of mind and independence in appearance: Independence of mind The state of mind that permits the ...

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Reporting Irregularities in Financial Statements

23 Mar 2015 06 Jul 2017

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Nowadays, especially is Bulgaria, people are becoming more and more hungry for money, that is why the word fraud takes part more often in our speech. Fraud is part of criminal law, and it comes when we have personal gain by fraudulent way or damaging another individual. The most common purpose of frauds are connected with person or entities trying to assign and stole money or valuables. ...

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Barratt Development Account Information Analysis

13 Sep 2016 04 Jul 2017

8 (3,109 )

Keywords: accounting information system analysis, ais example Assessing the role of accounting information and accounting information system at Barratt Development Abstract Accounting information and accounting information systems (AIS) in today's information age play critical roles in facilitating decision-makers with accurate financial status of the organization and activities to pursue strategic objectives. Accountants, who are the disseminators of accounting information, need to ensure that the information provided ...

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Purpose and Use of Different Accounting Records

23 Mar 2015 28 Jun 2017

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Keywords: accounting records types, accounting records uses Accounting record is defined as the all of the documentations involved in the preparation of financial statements and records which are relevant to financial review and audits which include recording of assets and liabilities, ledgers, journals, and any other supporting documents like invoices. Ledger: - Maintaining ledger is a must in all accounting system. Ledger is used for preparing trial ...

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Finance in the Hospitality Industry

23 Mar 2015 27 Jun 2017

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Keywords: hospitality finances, finance planning hospitality Introduction. According to the Barrows & Powers (2009, pp. 3-5) hospitality industry has included hotels , restaurants and other related organisations to the food industry and it has given more emphasis on providing customer sensitive products and services in order to gain profitability and customer satisfaction. Hence, the application of finance and accounting has been done a great deal to achieve ...

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Regulatory frameworks for financial reporting

21 Jun 2017

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Discuss the reasons why we need a regulatory framework for financial reporting. What are the advantages and disadvantages of making accounting rules by law as opposed to using IASB standards? The body of rules which determine how financial accounts will be compiled in any particular situation are known as the Generally Accepted Accounting Principles (GAAP); these are drawn from a number of sources. The first of these ...

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Audit and Auditing Literature Review

23 Mar 2015 06 Jun 2017

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Keywords: audit literature review, fraudulent financial reporting 2.1 Introduction This chapter reviewed the detail literature on important keys in this research such as the audit, audit firm tenure, audit firm size, fraudulent financial reporting and relevant past research findings on (i) the relationship between audit-firm tenure and fraudulent financial reporting and (ii) the relationship between audit-firm size and fraudulent financial reporting. 2.2 Audit Definition of audit is different ...

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Control Function in Management

23 Mar 2015 31 May 2017

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Controlling is one of the four main functions in management. It is important to managers in order to ensure all planning, organising and leading run as smoothly as desired. If managers are able to ensure that each plan made and every task given to the employees are carried out perfectly, and the results expected is what had been planned, control is not required. Unfortunately, managers are not ...

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Analysis of historical cost accounting

23 Mar 2015 19 May 2017

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Introduction Accounting is a measurement and communication of financial information about economic activities to interested persons. [1] The primary role of accounting is to provide an effective measurement and reporting system which is also accounting information system for decision making. The corporate form of a large business has created separation of business ownership and control. 'Outsiders' of an organization, usually, don't possess first-hand knowledge of the day-to-day running and ...

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Importance of budgeting analysis

23 Mar 2015 19 May 2017

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Introduction This report is aimed to evaluate the importance of budgeting, analysis the benefits and problems that brought by budgeting and also discusses the behavioral aspects of budgeting. A budget is a comprehensive, formal, coordinated, detailed, quantitative plan that estimates the probable expenditures for acquiring and using financial and other resource for an organization over a specific time period (Margaret, George, 2011). Budgeting describes the overall process ...

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The Importance Of Audit Independence

23 Mar 2015 16 May 2017

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1. Introduction As the development of the modern business, audit is playing a more and more important role to insure the trueness of the financial report and help report users to make proper decisions. Consequently, it is very important for auditors to remain independence in body and mind when conducting an audit based on a public limited company. To expound this topic clearly, the essay is divided ...

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Significance Of Departmental Accounts

23 Mar 2015 16 May 2017

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This report has done on wide research of financial accounting. This report has five parts. First part includes departmental accounting and its significance. Second part shows a calculation for a given question. Third part includes four fundamental accounting concepts such as going concern, matching concept, prudence and consistency with examples. Forth part includes users and uses of financial accounting and statements. Finally fifth part shows a significance ...

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Importance of costs in pricing strategy

23 Mar 2015 16 May 2017

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Price of a product is a major element of the marketing mix. Pricing is one of the most important strategic issue because it is related to the product positioning. The price goes in hand with the other marketing mix elements such as product promotion, channel decisions and its features. For a developing the pricing of a new product, there can be a general sequence of steps that ...

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Sainsburys Ratio Analysis

23 Mar 2015 15 May 2017

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Accounting and Finance Assignment - Sainsbury's Ratio Analysis Nowadays, it is important for organizations to know how to survive in the competitive market in which they are involved, markets that require managers who understand and are aware of the internal and external factors that concerns to the company. Therefore, it is vital to know the existence of different techniques of measurement such as financial tools, which can ...

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Absorption and marginal costing methods

23 Mar 2015 15 May 2017

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Absorption costing treats the costs of all manufacturing components (direct material, direct labour, variable overhead and fixed overhead) as inventoriable or product costs in accordance with generally accepted accounting principles (GAAP), (BARFIELD et al., 2001). 1.2 Marginal Costing Variable costing is a cost accumulation method that includes only variable production costs (direct material, direct labour, and variable overhead) as product or inventoriable costs. (BARFIELD et al., 2001) ...

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CSR in Mauritius – An Overview

23 Mar 2015 12 May 2017

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CSR is not so new in the history of Mauritius. A Mauritian company's engagement in CSR initiatives dates back to 20 years ago, which took place at varying points in time. Following Deloitte (2008)'s survey on the CSR policies and actions in Mauritius and Rodrigues, Figure 1 below depicts the path of CSR activities undertaken by the Mauritian companies. Interestingly, according to the survey, the highest percentage ...

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The controllability principle in responsibility

23 Mar 2015 11 May 2017

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One underlying concept of the traditional management control system is the responsibility accounting. It is viewed as an important feature because it permits the ease of decentralization in M-form organizations. It distributes accountability and provides accounting reports on these distributed accountabilities. It provides a way for large unmanageable organizations to be managed such that all subsystems have similar goals. It can be defined as a system where ...

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Financial Ratio And Operating Indicator

23 Mar 2015 10 May 2017

4 (1,247 )

Riverview Community Hospital operates as a not for profit facility with 210 inpatient beds. The financial ratio and operating indicator analysis of Riverview Community Hospital will attempt to determine their performance within their market. The further assessment of the cash flows, Du Pont equation, and economic value added (EVA) will offer insight to their financial performance. The assessment of the hospitals cash flows will allow the evaluator ...

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Financial Statements: Food And Beverage Operations

23 Mar 2015 10 May 2017

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Product oriented companies create a production budget which estimates the number of units that must be manufactured to meet the sales goals. The production budget also estimates the various costs involved with manufacturing those units, including labour and material. Cash Flow/Cash budget: The cash flow budget is a prediction of future cash receipts and expenditures for a particular time period. It usually covers a period in the ...

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Importance Of Financial Information To Stakeholders

23 Mar 2015 09 May 2017

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Financial information contain in annual reports that the companies are published in periodically. That period is identified as reporting period. Company obligates to provide financial information to their various stakeholders during the past reporting period. Annual report is a report the company report their comprehensive transactions and events to publish and provide for required parties. There are few reasons to publish annual reports by companies generally as ...

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Management Accounting: Information for decision-making

23 Mar 2015 08 May 2017

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Management accounting information should comply with a number of criteria including verifiability, objectivity, timeliness, comparability, reliability, understandability and relevance if it is to be useful in planning, control and decision-making. Explain the meaning of each of the criteria named above and give a specific example to illustrate each. Give a brief explanation of how the criteria detailed in (a) might be in conflict with each other, giving ...

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The advantages and disadvantages of inventories

23 Mar 2015 08 May 2017

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The subject of this paper is the valuation of inventories. We have looked at the rules of the International Financial Reporting Standards (IFRS) and Dutch rules. The Dutch rules can be dividend in Title 9 of Book 2 of the Dutch Burgerlijk Wetboek (BW) which is a part of the Dutch law and the recommendations made by the Raad voor de Jaarverslaggeving (RJ) which are giving a ...

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Harmonisation Of Accounting Standards

23 Mar 2015 08 May 2017

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Accounting Standards are the reliable statements of best accounting practices issued by recognized expert accountancy bodies relating to various aspects of measurements, treatments and disclosures of accounting transactions and events, as related to the codification of Generally Accepted Accounting Principles (GAAP). This report presents harmonization of accounting standards, a brief history, and the achievements so far and some challenges faced by the organizations such as the International ...

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Management accounting costing and budgeting

23 Mar 2015 05 May 2017

27 (10,409 )

Accounting is key success of business but the word accounting is more sophisticated is in case of business. Almost every business before dealing any project or any other important function it should be design an appropriate budget. To make budget first we should thinking about the cost because the cost of the production is always variable. A well-planned budget will bring success for a project. In my ...

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Importance Of IAS37 Requirements

23 Mar 2015 05 May 2017

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Introduction Since IAS 37 is published, companies obeying by international standards can solve the difficulty of how to recognize and measure provision, contingent liability and contingent asset. It provides an explicit direction for companies to disclose incurred transactions associated with liabilities. However, "probable" or "possible" such words are involved many times in this standard which can allow options and creative accounting for companies on whether to recognize ...

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How the role of management accountant has changed

23 Mar 2015 04 May 2017

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Using appropriate academic literature, critically evaluate the argument that the role of the management accountant has changed in recent years from traditional accounting functions to that of a strategic planner and a business partner". Introduction When it comes to the change of management accounting or management accountant, several researchers and scholars have stated the similar view that people cannot describe the management accountants as 'the bean counter', ...

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The Accounting Profit Figure

23 Mar 2015 03 May 2017

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"The accounting profit figure is simply a measure of the true profit of an organisation." Discuss I will start by criticising my initial identification of accounting profit (a calculable amount, with set answer!). Profit is not just a set of calculations which has a defined/set-in-stone answer it can be described as the result after particular accounting rule and conventions have been employed (Deegan and Unerman 2006). These ...

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Incentives For Blue And White Collars

23 Mar 2015 03 May 2017

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The term incentive has been used both in the restricted sense of participation and in the widest sense of financial motivation. The concept of incentive implies increased willingness or motivation to work and not the capacity to work. It refers to all the plans that provide extra pay for extra performance in addition to regular wages for a job. Under this programme, the income of an individual, ...

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The UK Pension System: an Analysis

23 Mar 2015 02 May 2017

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The aim of this essay is to perform an analysis of the UK pension system, understanding its foundation and working. The core focus is to assess the statement "the UK pension statement is fatally flawed and requires that we make fundamental changes in the way we save for old age", by referring to the Pension Commission Reports, and the relative proposals that have been made recently. The ...

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THE INFLUENCE OF CULTURE ON ACCOUNTING

23 Mar 2015 01 May 2017

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The impact of culture on the social institutions like accounting cannot be underestimated. Before the increase in immigration and cross-border businesses, culture has been in the domain of anthropology and archaeology. This work considers whether culture affect unified global accounting practices and whether an understanding of cultural role in accounting can help to understand international accounting standards. These prove will be made evidence using the Anglo-American and ...

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Financial and non-financial consequences of closing down restaurant department

03 Oct 2016 28 Apr 2017

7 (2,467 )

ACCOUNTING 1 Traditions Ltd Author’s name) (Institutional Affiliation) Question One. Marginal costing, Comparison between Traditions Ltd Marginal costing for all departments and without the restaurant department; Without the restaurant, the store is profitable. The store is capable of making a profit of £9,000. This indicates that the restaurant department is making losses. Even without putting the fixed cost incurred by the business into consideration, the restaurant had ...

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Advantages And Disadvantages Of Manufacturing

23 Mar 2015 28 Apr 2017

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Activity-based costing is an information system, that assigning resource of cost to products or services based on the activity consume. The Economist, June 29th 2009, Activity-Based costing Thus, ABC can help the manager to obtain more accurate and up-to-date costing information to evaluate the cost budgeting to maximize profit. (Metin Reyhanoglu, Activity-Based Costing System: Advantage and Disadvantage, Ankara University, Turkey, Pp.2) In additional, ABC can provide a ...

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Job order costing process costing and activity based costing

23 Mar 2015 27 Apr 2017

4 (1,484 )

A cost accounting system is the sum methods and techniques used by businesses allowing them to track resources consumed in production and distribution of services or goods to consumers. These methods and techniques are used by the management in order to evaluate and reward staff performance, by employees in order to manage recourses efficiently while the cost accounting system is also used for external reporting requirements meaning ...

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The fair representation of financial statements

23 Mar 2015 27 Apr 2017

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INTRODUCTION The Financial Reporting Standards Board was formed to resolve the problems faced by the international financial reporting regiment. In particular, it hopes to promote the standardization of international accounting standards through its International Accounting Standards (IASs) to facilitate transactions and improve financial markets. Underscoring the FRSB's philosophy is to enable the 'fair presentation' of financial statements. This report discusses this concept and evaluates whether the application ...

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Kelloggs Business Strategy

23 Mar 2015 27 Apr 2017

7 (2,429 )

Introduction: The importance of customers and their value plays a major role and cannot be neglected by the companies in today's business world. The implementation of different new strategies and marketing plans will not help if the companies do not pay attention to the customers. Any company's marketing plan agenda should and will always include customers. Customer focus and retention is a powerful strategic advantage that helps ...

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The Possible Reason Of Variances

23 Mar 2015 27 Apr 2017

6 (2,274 )

Incognitos latest costume set is Meridas outfit in the Disney Pixar film Brave that sold through internet. The purpose of this report is to analyse and compare the differences of standard profit and actual profit. All calculations are available in the appendices. 1.1 Absorption Costing System Absorption costing system is used to cost Merida. It recognizes the importance of absorbing the fixed overhead on valuation of stock ...

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The Advantages and Disadvantages of Lean Six Sigma

23 Mar 2015 27 Apr 2017

8 (2,877 )

While businesses seek for ways to survive and also to remain competitive in a changing global environment, they either choose adopting business excellence models or continuous improvement philosophies to guide them in the journey of organisational excellence. Lean Six Sigma is a new breadth in the area of continuous improvement, which constitutes strengths and key focuses of Lean and Six Sigma approaches.The purpose of this paper….. Will ...

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Exploring the Pros and Cons of U.S.-GAAP and IFRS

23 Mar 2015 27 Apr 2017

3 (1,150 )

The joint project between the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) in developing a common accounting language for the world has gained much attention after the Securities and Exchange Commission (SEC) in United States (U.S.) announced its plans to adopt the International Financial Reporting Standards (IFRS). As investments by U.S. investors in foreign public corporations have grown drastically, it is timely for ...

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A report on the liability of auditors

23 Mar 2015 25 Apr 2017

12 (4,690 )

Audits are carried out to ascertain the validity and reliability of the company's information especially financial information and provide an assessment on the effectiveness of the internal control system. Auditors are responsible to express appropriate audit opinion on the financial statements so as to give a true and fair view of the company's financial position based on the audit evidence they obtained throughout the audit procedures performed. ...

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How costs are classified in different types of organisations

23 Mar 2015 25 Apr 2017

18 (6,886 )

Costs are associated with all types of organizations business, non-business, manufacturing, retail and service. Generally, the kinds of costs that are incurred and the way in which these costs are classified depend on the type of organization involved. In your assignment you should explain with examples (use dollar value in your examples): How to measure cost behaviour (cost measurement)? In management accounting, the classification and measurement of ...

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A Positive Theory Of Accounting

23 Mar 2015 25 Apr 2017

4 (1,358 )

In the nature of theory, a positive theory of accounting or Positive Accounting Theory is a descriptive theory, which describes particular aspects of financial accounting practice. It seeks to predict, observe, and explain which accounting methods accountants will or will not use in particular circumstances and why managers and/or accountants elect to adopt particular accounting methods in preference to others. While a normative theory of accounting is ...

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Reacquired Franchise Rights

23 Mar 2015 25 Apr 2017

4 (1,256 )

Worksheet 1: Summary of Reacquired Franchise Rights Verifying Mathematical Accuracy of Reacquired Franchise Rights Balance It has been assumed that the beginning balance of reacquired franchise rights was audited last year. Therefore, changes (if any) to this account are audited in the current year so that an auditor can give an opinion on the balance of this asset. Reductions to this asset are likely to be due ...

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Job Costing Method And Batch Costing Method

23 Mar 2015 25 Apr 2017

4 (1,521 )

There are various types of business in the world now. Each and every business has to choose a particular method to ascertaining the costs are available in the business. Simply costing methods is a method of collecting cost. As in the diagram 1.1 costing methods are drifting apart. Specific Order Costing is the basic costing method. This method is suitable to those businesses where the work consists ...

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The Relevance Reliability Comparability And Understandability

23 Mar 2015 25 Apr 2017

4 (1,571 )

The purpose of financial statements is to give financial statements information about the change in financial position, financial performance and financial position of the organization. These can provide data use in decision making such as investment, credit and economic decision making which are useful for various users. There are seven main groups of users which are public, investors, lenders, employees, customers, supplies, government and other agencies and ...

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Exploring the four stages of the audit process

23 Mar 2015 25 Apr 2017

13 (4,952 )

Internal Audit is an independent function that provides an objective assurance and consultancy activity to improve and add value on an organization's operation. The auditors aim to help the Merami Berhad accomplish its objectives by evaluating the effectiveness of its risk management, control, and governance processes by bringing a discipline, systematic approach. The audit process is divided into four stages which are Planning (Preliminary Review), Fieldwork, Audit ...

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Advantages and disadvantages of private limited companies

23 Mar 2015 24 Apr 2017

7 (2,635 )

Financial Accounting Is the information to make decisions related to the organizations, it begins with the principles, concepts, and applications of financial accounting. Financial Accounting follows a set of rules and legislation known as accounting concepts, accounting policies, and procedures like the entity and prepayments. Financial Accounting explains for us what are the financial statements, tells us what are the rules of legislation while they are getting ...

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Solving Business Problems Using Sensitivity Analysis

23 Mar 2015 24 Apr 2017

11 (4,379 )

For a given linear programming model, finding the optimal solution is of major importance. But it is not the only information available. There is a very good amount of sensitivity information. It is basically the information that accounts for what happens when data values are changed. Sensitivity analysis basically talks about how the uncertainity in the output of a model can be attributed to different sources of ...

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UBS accounting information system

23 Mar 2015 24 Apr 2017

9 (3,341 )

The purpose of this report is to discuss how effective the computerized accounting information system will benefit a business that is expanding in expenditure, revenue and other key areas of business. Introduction to Accounting Information System AIS is a system that collects and stores accounting data, after that process the data into useful information used by the decision makers (internal and external users). The information produced by ...

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Shareholders and managers: A principle-agent problem

23 Mar 2015 24 Apr 2017

8 (2,995 )

This essay identifies the principle-agent problem between shareholders and managers. It also overlooks UK's corporate governance compared to Germany and Japan. Furthermore effectiveness of UK's system will be analyzed amid recommendations to reduce the vulnerability. Economic theory speculates that a firm's goal is to capitalize on shareholders wealth; achievable with entrepreneurial firm since owners are managers. However, ownership nowadays is significantly diluted, with companies owned by large ...

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Do we need to regulate financial reporting?

23 Mar 2015 24 Apr 2017

5 (1,808 )

Acoording to Leuz and Verrecchia (2000) the accounting literature presents proof that the quality of accounting has economic consequences for e.g. costs of capital , efficiency of capital assignment (Bushman et al. 2006)etc. Land and Lang (2002) in their research mentioned that economic changes also have homogeneous consequences by stating that the quality of accounting has improved globally since 1990s. Land and Lang (2002) also say that ...

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Role And Significance Of Budgetary Control

23 Mar 2015 24 Apr 2017

6 (2,065 )

Introduction: Enterprise is a complex man-made running coupling system and a contractual association with body; it is very necessary to the business activities of its process and implements control. According to the modern management guru Robert • Simon's theory, management control achieve management objectives. Through the implementation of a series of management control lever, so it should increase the importance of budgetary control and devote energies to ...

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The main purpose and objectives of annual reports

23 Mar 2015 24 Apr 2017

12 (4,781 )

The literature review section talks about the background of research being undertaken. It provides an illustration about the importance of the different sections of the annual reports and the qualitative characteristics of information that make it useful for users of accounting information. Hence, it outlines on the previous research done on the study of annual reports and the importance of annual reports to users who have a ...

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The development of accounting system in China

23 Mar 2015 20 Apr 2017

9 (3,257 )

Abstract This report put the accounting development in China into perspective. Describe the history and changes in the accounting environment of China during the recent economic reforms by using the Grey's (1988) accounting value to analyzing the culture impact on accounting system's development in China, and then, illustrate the institutional and environmental factors which driven China's accounting system made changes, the reasons of those changes and then ...

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Reflective Statement Of Financial Accounting

23 Mar 2015 20 Apr 2017

4 (1,522 )

Accounting has always been an interest of mine. Since I was a child, I have always been good in calculation, which makes it clearer that accountancy would be a good choice. After years of studying it, I realised accounting is not only about numbers but theory that require various skills in order to perform a good accounting. The increase number of students in the accounting field has ...

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Financial and Managerial Accounting

24 Feb 2017 19 Apr 2017

5 (1,934 )

Keywords: Management accounting, financial accounting, cost Executive Summary Though, financial accounting and managerial accounting systems prepare and analyze the same financial data, they also differ in some aspects. For example the users of the information are different. Also the procedures for their preparations differ including the time frames. Cost accounting is another sphere of accounting that deals with the analysis of costs of products and activities in ...

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What is process costing? The methods used

23 Mar 2015 18 Apr 2017

15 (5,729 )

A process costing method is used for Indus trick producing chemical, petroleum, textile, and flour, pharmaceutical, shoos and coal. This type of costing is also used by firms manufacturing such things methods is the assembly type industry which manufactures such things as type writers, automobiles. Airplanes and house hold electric appliances. Finally certain service industries, such sagas, water, and heat, cost their products by using process costing ...

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How did the corporate culture of Enron contribute to its bankruptcy?

23 Mar 2015 18 Apr 2017

4 (1,368 )

According to Albert Camus "A man without ethics is a wild beast loosed upon this world" At first sight, Enron looks like a mega-size illustration of the bad apple among the ripes ones. It projected itself as financial of Business Ethics. On December 2.2001 Enron Corp. Filed the largest bankruptcy in U.S history due to many unethical issues. The 'Enron Scandal' shocked the world. Enron had an ...

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SWOT Analysis: The Football Association

23 Mar 2015 18 Apr 2017

7 (2,406 )

This paper looks to produce a report that seeks to analyse the work of the Football Association (FA) in the context of an evaluation of the impact of its strategy regarding the advancement of the national game and its legitimacy as an organisation in England. This report provides a background to what is the FA's general remit and how this fits with sports strategic management emanating from ...

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Preliminary analytical procedure: A definition and analysis

23 Mar 2015 13 Apr 2017

5 (1,617 )

Auditors are required to prepare the preliminary analytical procedure at the planning as a part of the risk-assessment procedures under ASA 315.6. The definition of preliminary analytical procedure is that 'comparison of client rations to industry or competitor benchmarks provides an indication of the company's performance'. The purpose of preliminary analytical procedure is to obtain understanding of the client's company and industry. (textbook) In common, two major ...

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The Concept of Accounting

23 Mar 2015 12 Apr 2017

4 (1,414 )

There are likely to be various user groups with an interest in a particular organisation, in the sense of needing e to make decisions about that organization. User group Competitors - they use for: to assess the threat to sales and profits posed by those businesses. To provide a benchmark against which the competitors' performance can be measured Employees (non-management) - to assess the ability of the ...

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Making effective business decisions through accounting

03 Oct 2016 11 Apr 2017

5 (1,797 )

“The process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of the information”. According to American Accounting Association Committee, 1966. This may be considered as a good definition because of its focus on accounting as an help to decision making. Writing an essay on this topic brings an attention on how accounting helps manager in taking effective business decision. ...

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Parmalat Accounting Scandal summary

13 Sep 2016 16 Mar 2017

26 (10,242 )

Keywords: parmalat accounting scandal, accounting fraud, parmalat scandal auditors The Parmalat Accounting Scandal 1. The events leading up to the Parmalat accounting scandal and ultimately the revelation of the accounting fraud and the reasons behind the scandal? Evolving from a small dairy shop into an international concern, Parmalat appeared to be a gigantic and stable dairy producer. At some point in time, it may well have ...

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The concept and practice of Fair Value

13 Sep 2016 09 Mar 2017

6 (2,204 )

The concept and practice of Fair Value. Introduction The issue of the use of fair value as a model for financial standards and reporting has been subjected to significant debate and argument since the IASB[1] Framework was first introduced in 1989. As can be seen from a number of accounting industry responses, such as that of Peter Willams (2005), the use of fair value is ...

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Industrial Development Bank of India

24 Feb 2017

10 (3,918 )

Keywords: Industrial Development Bank of India, Narasimam, United Western Bank The Banking Industry was once a simple and reliable business that took deposits from investors at a lower interest rate and loaned it out to borrowers at a higher rate. However deregulation and technology led to a revolution in the Banking Industry that saw it transformed. Banks have become global industrial powerhouses that have created ever more ...

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Modigliani Miller Proposition

23 Feb 2017

6 (2,173 )

Keywords: Modigliani-Miller Proposition, finance, investing 1. Introduction According to many research of corporation finance, the capital structure decision is one of the most fundamental issues facing to the executives and management level. The corporate finance is a specific area of finance dealing with the financial decisions corporations make and the tools as well as analysis used to make these decisions. The discipline as a whole may be ...

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