Transfer Pricing And Customs Valuation

02 Nov 2017

3 (3 )

Any international transaction is subjected to indirect tax through customs, sales or value added tax to determine the duty payable on the goods imported. If the goods are transferred between related parties, then the transfer price should be determined giving consideration to both: corporate income tax-recompressions and customs implications. In India, while customs duty is ...

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Traditional Costing Versus Target Costing

02 Nov 2017

3 (3 )

Nowadays, the current business environment particularly the automotive industry has been using target costing as a strategic cost management tool. The South African Motor Industry is the great example to illustrate that the target costing is one of the strategic cost management approaches better applicable to consolidate a company’s competitiveness in countering the current business ...

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The Generally Accepted Auditing Standards

02 Nov 2017

1 (1 )

The Generally Accepted Auditing Standards are standards that were developed by the American Institute of Certified Public Accountants as a foundation in conducting an audit in its reasonable accuracy. There is a need for auditors to follow the standards provided to be able to render a report of the financial statements audited stating that ...

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The Purposes Of Accounting Accounting

02 Nov 2017

3 (3 )

Our economic environment is one where the production and distribution of goods and services is primarily left to individuals or to a group of people. It is based on the principle that these entrepreneurs can own property and conduct their business with the view of making a profit from their efforts. All businesses need a ...

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What Actually Is Benchmarking

02 Nov 2017

1 (1 )

The goal of benchmarking is to identify and improve the weaknesses within an organization, having an idea to become the "best of the best." The process of benchmarking helps managers in finding gaps in performance & turning them into opportunities for improvement. Also, the benchmarking enables companies in identifying the most successful strategies used by ...

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The Industrial Equipment Distribution

02 Nov 2017

1 (1 )

ABSTRACT This report represents the overall experience and tasks that I have been acquiring during the coop training program at Olayan Financing Company (OFC). The report is divided into two main parts. The first one is the company profile and the second one is the job activities that I have been doing during the Coop ...

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The Qualitative Characteristics Of Accounting Information

02 Nov 2017

1 (1 )

According to (Wild, Subramanyam & Halsey, 2007), financial statements are the major source of information used by different users and there are five components of financial statements, namely: balance sheet, income statement, owner’s equity statement, cash flow statement and notes to financial statements. According to (Alfredson, Leo, Picker, Pacter, and Radford, 2005), the preparation of ...

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What Is Total Cost Of Ownership Analysis

02 Nov 2017

1 (1 )

Total cost of ownership [1] (referred as TCO in the rest of this thesis) may also be called "Total cost modelling". As emphasised by Ellram (1994a), there is no unique definition of TCO, as it "means different things to different people". The author decided to chose the following definition of the TCO for this research: "Total cost ...

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What Are The Arguments For Regulations

02 Nov 2017

8 (8 )

In the repercussion of the Asian Financial Crisis of 1997 and the corporate accounting scandals such as Enron and WorldCom in the U.S., regulators and standard setters have requested for improved corporate transparency and presented significant changes to accounting standards and regulations. The paper investigates two research questions. First, we consider significant arguments on whether ...

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The Net Present Value Method

02 Nov 2017

3 (3 )

The primary goal of a corporation is to maximize the wealth of its stockholders. Taking this into account, long-term investments that will be undertaken by a firm should be evaluated based on their contribution to the wealth maximization goal. [i] The capital budgeting evaluation technique that clearly relates the capital investment to the wealth maximization goal is ...

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Why Should A Company Have A Maintenance System

02 Nov 2017

1 (1 )

LITERATURE REVIEW In this chapter, a step by step process that involves the identification of published and unpublished works from secondary sources, providing the theoretical overviews, relating to the scope of the thesis to seek answers to the research questions, are discussed. Churchill (cited in Ncube, 2006, p. 18) states that �Do not bypass secondary ...

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Working In Forensic Team

02 Nov 2017

1 (1 )

Unit Unit 12 Working with Attorneys In-house or outside counsel usually participates in, or directs an investigation, when matters arise at a company demanding investigation. The forensic accounting investigator generally works with such counsel. That relationship is the topic of this section. Teaming With Forensic Accounting Investigators Forensic accounting investigators can make important assistances to ...

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The Roles Of Internal Auditor

02 Nov 2017

1 (1 )

Introduction Nowadays, the roles of internal auditor was mainly accounting oriented, concentrating on the precision and reliability of financial statements which reflect historical performance of the organization. After the Asian financial crisis and the global audit scandals such as Enron case in 2001, the role of internal auditors has been improved tremendously. Previously, internal ...

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The Merit Based Recruitment

02 Nov 2017

1 (1 )

Public service in both the developed and developing world plays a vital role in providing public goods, such as defence, pubic order, property rights, macro-economic management, basic education, public health, disaster relief, protection of environment, and coordinating private sector activity. A capable public service is essential for creating a favourable investment climate and facilitating people’s ...

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Traditional Absorption Costing Versus Activity Based Costing System

02 Nov 2017

1 (1 )

1.0 Introduction Standard costing is generally best suited to an organization with repetitive operations and the input required to produce each unit of output can be specified. It is suitable to those manufacturing organization that have repetitive production process. Standard costing are not suitable used in non-repetitive activities because there is no clear basis for ...

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The Fuzzy Linguistic Preference Relation Approach

02 Nov 2017

1 (1 )

Abstract. This study investigates and identifies the risk factors for software development projects from a literature review and expert interviews. Based on the identified assessment factors, a hierarchical structure of five risk dimensions and twenty-two risk factors is constructed, and the fuzzy linguistic preference relation (FLPR) is employed to assess the relative degree of impact ...

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Voluntary Imo Members State Audit

02 Nov 2017

7 (7 )

It is widely accepted that International Maritime Organization (IMO) as specialized agency of United Nation (UN) in Maritime field, since was establish in 1957, has contributing to improve the safety at sea through several instrument such as conventions, protocols, resolution and guidelines that seem to be an efficient tool by the countries and specially to ...

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The Role Of Accountants

02 Nov 2017

6 (6 )

An accountant plays a vital role in making a business successful or fall of a business. Historically we have read upon lot of articles supporting the actions of the accountants. In our earlier classrooms we have discussed the ethical standards or issues by accountant. A professionally qualified accountant provides quality and professional advice for existing entrepreneurs ...

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The Organizational Cultural Environment Surrounding Enrons Management

02 Nov 2017

3 (3 )

Skilling was practicing culture of arrogance, extreme decentralization, fierce internal competition and an attitude that the company could do anything. Enron was forever changing on the way of working and reorganizing until it’s so hard for the employees to catch up what exactly the management wants from them. Enron's corporate environment encourages creative, experimentation and ...

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The Roles Of Financial Information In Business Strategies

02 Nov 2017

1 (1 )

Executive Summary……………………………………………………………..2 Organization Overview………………………………………………………….2 Roles of Financial information in different business strategies…………............3 Analysis of financial statement for strategic business decision…………...........4 Assess of business through long and short term strategies………………...........7 Techniques and importance of cash flow statement………………………........8 Corporate Governance report………………………………………………..…10 Different roles and responsibilities of committees and board……………........10 Conclusion and recommendation…………………………………………...…12 References……………………………………………………………………...13Executive Summary We are discussed in these assignments different roles of financial information in ...

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The South Africa Franchise

02 Nov 2017

2 (2 )

CHAPTER 3 METHODOLOGY This chapter deals with the methods used for researching the subject undertaken for study. RESEARCH PROBLEM The research subject is that of corporate governance in foreign franchises in Mauritius. During the literature review process, it has been found that there are many studies conducted on corporate governance in Mauritius and compliance ...

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The Overview Of The Banking And Insurance Sector

02 Nov 2017

5 (5 )

In the present times of intense competition, the only survival strategy for business is to grow. However, as the society is changing, the indicators of success are also acquiring a new meaning. A move toward social responsibility is a fundamental change for business. Over the last years, corporate social responsibility (CSR) has been an issue ...

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The Employee Of The Company

02 Nov 2017

1 (1 )

1.0 Introduction This assignment has helped a company to build up a goal to increase their performance and achieve efficiency and effectiveness. Accountancy encompasses the recording, categorizing and summarizing of transactions and events in a manner. It can help company’s users to review the financial performance and position of entity. It starts by identifying transactions ...

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The Continental Limited Financial Statement

02 Nov 2017

1 (1 )

Introduction At first glance, accounting can appear in a way that extremely complicated and confusing and lead to the untrained eye may struggle to grasp the whole set of accounting even it is just an incomprehensible group of numbers. By doing so, accounting is much more important for a company that concern with the financial ...

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The Role Of Internal Audit In Meeting Board

02 Nov 2017

5 (5 )

This part of the report mainly focuses on the positive aspect of how audit committees of Silver Bird Group Berhad (SBGB) help to enhance the role of internal audit in meeting board of directors’ needs. With the increasing attention focused on the financial reporting by legislators, security analysts, institutional investors and regulators, the roles of ...

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The Nature And Purpose Of Analytical Procedures

02 Nov 2017

1 (1 )

Introduction Auditors are required to carry out procedures designed to obtain sufficient appropriate audit evidence to determine with reasonable confidence whether the financial statements are free of material misstatement. They are also required to evaluate the overall presentation of financial statements, in order to ascertain whether they have been prepared in accordance with relevant legislation ...

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The Role Of Internal Audit

02 Nov 2017

3 (3 )

There are several recommendations that can be made to enhance the role of internal audit. The first recommendation should be focusing on the board of directors to clearly delegate roles and responsibilities in carry out the duty such the power to carry out duties in discharging its fiduciary and leadership function. Besides that, the board ...

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The Value Of Budgeting

02 Nov 2017

6 (6 )

The case against traditional budgeting has been debated by Hope and Fraser (2003b) as part of the Beyond Budgeting Roundtable (BBRT). They argue that budgeting systems often result in dysfunctional behaviour and consume large amounts of management time. Additionally, they often slow down organizations from being flexible and responsive to deal with unpredictable environments change ...

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Trailer Construct Plc Management Accounting Report

02 Nov 2017

4 (4 )

The current management of the company is not efficient and thus improvement is needed for the procedures in the main business areas in the organisation. The company should use ABC system to assign the overheads and a cost-plus pricing to set prices. As the competition increasing, a medium-price policy approach is appropriate for pricing to ...

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What Do The Protecting Investors Indicators Measure

02 Nov 2017

1 (1 )

Protecting investors The protection of investors is fundamental for a company since the investors is a way by the company to raise capital to finance certain projects. If the laws do not provide adequate protection for investors, the latter may be reluctant to provide the fund to finance these projects. Doing Business measures the strength ...

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The Stock Exchange Of Mauritius

02 Nov 2017

1 (1 )

Oman Pakistan People's Republic of Bangladesh People's Republic of China -DTA -Amendment/s through Protocol Rwanda Senegal Seychelles Singapore South Africa State of Qatar Swaziland Sweden Thailand Tunisia Uganda United Arab Emirates United Kingdom -DTA -Amendment/s through Protocol Zimbabwe 5 treaties awaits ratification: Congo, Kenya, Nigeria, Russia, Zambia 5 treaties await signature with: Egypt, Ghana, Gabon, Malawi, Monaco 12 treaties ...

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The Methods Of Overhead Allocation

02 Nov 2017

1 (1 )

To support management decisions, accountants go beyond simply determining the cost of products and services; they developed a cost management system Managers need accurate and timely cost information for: (1) Strategic management decision such as in-house or out-source, (2) Operational control and (3) external report to other stakeholders such as investors, creditors and internal ...

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The Corporate Social Responsibility Rating

02 Nov 2017

1 (1 )

In this thesis it will be studied how reliable CSR rating systems are by comparing the methodologies of KLD and Sustainalytics. This chapter will explain the possibility that ratings have different outcomes for companies. The main reason that can be given for these ambiguous results is the complexity of the definition of CSR. Section 2.1 ...

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The Paid In Minimum Capital

02 Nov 2017

1 (1 )

The cost doing business in any country involves the measurement and tracking the changes in regulations affecting 10 areas in the life cycle of a business namely, business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. For policy ...

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What Is Accounting Cycle

02 Nov 2017

3 (3 )

What is accounting. Accounting is a practice and body of knowledge concerned primarily with : (1) methods for recording transactions, (2)keeping financial record, (3)performing internal audits, (4) advising on taxation matters. What is accounting Cycle? Definition of "Accounting Cycle"? The accounting cycle is referred to the sequence of accounting procedure used to record ,classify ...

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Understand Financial Concepts Used To Inform Management Decisions

02 Nov 2017

1 (1 )

INTRODUCTION In every business money is require in order to achieve objectives. Financial decision must have been made carefully, and there should have enough money for the project. Financial management is a necessary tool for supporting the organisation’s goals and objectives. Its purpose is to provide information that assists program managers to make the organisation’s ...

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The Role Of Internal Auditor From External Auditor

02 Nov 2017

1 (1 )

Explain the meaning of audit and its nature. (3 marks) Distinguish between accounting and auditing. (5 marks) Discuss the objective of auditing and why auditing is needed. (8 marks) Distinguish the role of internal auditor from ...

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The Types Of Costing Methods

02 Nov 2017

7 (7 )

Financial Accounting Accounting treats money as a meaning of measuring of economic performance instead of a factor of production. Hence, it includes the entire system of monitoring and control of money such as flows in and out of an organization as assets and liabilities add on with revenues and expenses. Thus, financial accounting congregate and summarizes financial data to prepare financial reports such as balance sheet and income statement for organization's management, investors, lenders, suppliers, tax authorities, and other stakeholders. The difference between financial and managerial accounting is that financial accounting is ...

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The Distinguish Between Accounting And Auditing

02 Nov 2017

1 (1 )

           The meaning of audit is a professional audit, involving verification of the company's accounting documents and certificates, in order to respect the impartiality of the company's accounts, the consistency and conform to generally accepted accounting principles. Auditing is the independent investigation of financial information of a company or an organization. It also is an investigation ...

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Unstructured And Unfunded Private Sector Schemes

02 Nov 2017

4 (4 )

INTRODUCTION BACKGROUND OF THE STUDY Nigeria operated an unfunded defined benefits scheme between January 1, 1946 and June 2004. The first public sector pension scheme in Nigeria was the pension ordinance of 1951 with retrospective effect from January 1, 1946. The law provided public servants with both pension and gratuity. This was followed later by ...

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Use Of International Reporting Systems In Global Trade

02 Nov 2017

2 (2 )

Accounting is defined as "the language of finance" (Lasher, 2008). The basis of accounting is financial accountability attained through financial reporting and can be explained as the communication of "financial information useful for making investment, credit, and other business decisions" (Wild, Shaw, & Chiappetta, 2009). Financial reporting includes income statements, cash flow summary, tax and ...

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What Are The Arguments For And Against Regulations

02 Nov 2017

8 (8 )

In the repercussion of the Asian Financial Crisis of 1997 and the corporate accounting scandals such as Enron and WorldCom in the U.S., regulators and standard setters have requested for improved corporate transparency and presented significant changes to accounting standards and regulations. The paper investigates two research questions. First, we consider significant arguments on whether ...

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The Users Of Accounting Information

02 Nov 2017

6 (6 )

1.0 Introduction Now days, accounting information has been become an important element and widely use to describe all types of business activity in any business undertaking. Generally accounting is a process of recording, reporting and analysis of financial transactions of an ongoing business. Besides, the person in charge of accounting is known as an accountant. ...

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Value Relevance During A Financial Crisis

02 Nov 2017

2 (2 )

Chapter 1: Introduction 1.1 Introduction The implementation of the International Financial Reporting Standards (IFRS) from all member-countries in Europe in 2005 was, without doubt, one of the most important accounting events of the last decades. At the same time this movement aimed at the use of a common set of high quality standards that would ...

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What Is Good Corporate Governance

02 Nov 2017

1 (1 )

2.1 Introduction The practice of good corporate governance helps to differentiate one organisation from others. Corporate governance has been heavily researched in the past few years and at its most central point it refers to the governance of corporations. The latter has gained momentum as a result of separation of ownership and control as owners/shareholders ...

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The National Insurance Contributions

02 Nov 2017

3 (3 )

Income tax was last introduced by Robert Peel in 1842, again as a temporary tax and remains as such today, and for this reason it has to be re-imposed each year by Parliament via the Finance Act. The main statutory charge provisions for income tax are contained in the Income and Corporation Taxes Act 1988. ...

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The Local Government Pension Act

02 Nov 2017

3 (3 )

The National Provident Fund (NPF) Scheme established in 1961 was the first legislation enacted to address pension matters of private organizations. In 1993, the National Social Insurance Trust Fund (NSITF) scheme was establish by Decree No. 73 of 1993 to replace the defunct National Provident Fund (NPF) scheme with effect from July 1, 1994 to ...

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The Managing Financial Principles And Technique

02 Nov 2017

8 (8 )

The amount of property or money paid   for a goods or some service. Cost is expenditure for both individual and business property. If a cost is for a business purpose, it may be tax deductible. A cost may be paid straight away in the form of cash or over time in a credit sale or similar transaction. Cost is the opposite of revenue: It may ...

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The Tamil Nadu Newsprint And Papers Limited

02 Nov 2017

7 (7 )

The Tamil Nadu Newsprint and Papers Limited (TNPL) was established by the Government of Tamil Nadu to produce newsprint and writing paper using bagasse, a sugarcane residue. The Government of Tamil Nadu listed the paper mill in April 1979 as one of the most environmentally compliant paper mills in the world under the provisions of the Companies Act of 1956. ...

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The Traditional Absorption Costing

02 Nov 2017

5 (5 )

Introduction 1.1. Traditional Absorption Costing 1.2. Activity Based Costing 1.3. Comparison Relevance of Activity Based Costing in Bahraini Relevance of Activity Based Costing in Taiwan Relevance of Activity Based Costing in Portugal Relevance of Activity Based Costing in Tunisia Conclusion References INTRODUCTION Activity based costing help manager to manage product information and giving them a ...

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The Role Of International Institutions In Financial Reporting

02 Nov 2017

2 (2 )

http://www.cgdev.org/files/2666_image2_international_financial_institutions.jpg Contents International Accounting Standards Board History and Development The IASB, the International Accounting Standards Board, is an independent board, issuing and setting up standards, accounting standards under the umbrella of the IFRS Foundation, the International Financial Reporting Standards Foundation. The IASB has been active since 1973, which at that time, it was called IASC, ...

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The Need For Auditors Independence

02 Nov 2017

1 (1 )

The issue of auditor independence is a crucial element and very important for the audit profession. This concept has been discussed widely and many definitions have been presented in literature. Independence refers to the auditor’s ability to present his opinion about the reliability of financial statements honestly and impartially away from his interest or the ...

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The Recognized Evaluating Methodologies

02 Nov 2017

3 (3 )

It is in fact a difficult job to gather data required by quality evaluation process. However once recognized could be a helping tool to manage costs and get simulated results with almost very low or near to negligible cost increment in monetary terms. Simulated software and dash board concepts could be implemented by using same ...

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The Professional Associations Attempt At Readability

02 Nov 2017

2 (2 )

Most voters know almost nothing about the federal budget: Few can correctly answer basic questions about how much it spends, how and whom it taxes, and how much is spent on different parts of the budget (Suderman, 2012). On average, for example, surveys show that respondents estimate that anywhere from 10 to 25 percent of ...

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Types Of Costing Methods

02 Nov 2017

1 (1 )

Introduction Financial accounts are the records of the financial dealings of the business, their daily transactions. The main role of financial accounting is to record financial transactions such as collecting money from sales, paying suppliers, salaries and wages. Besides that, it may also help the managers to manage the business for more efficiently by preparing ...

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Theoretical Debate On Balance Scorecard

02 Nov 2017

5 (5 )

The first prospective is primarily short-term oriented and financial in nature, while the last three are prominent categories of nonfinancial leading indicators of future financial performance. The central idea behind a balance scorecard-type measurement system is that if the organisation tracks the right set of leading indicators and gives them proper importance weightings, then profits ...

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The Continental Limited Financial Statements

02 Nov 2017

1 (1 )

Executive summary Accountancy encompasses the recording, categorizing and summarizing of transactions and events in a manner. It can help company’s users to review the financial performance and position of entity. It starts by identifying transactions that will affect the financial position and perform of company. After that, they are recorded, classified and summarized to help ...

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The Need For Harmonization

02 Nov 2017

1 (1 )

Introduction This report will provide a brief history and background on the process of harmonization in the European Union with regards to the 2 methods it employed: Directives and IFRS adoption. By providing a basis for which harmonization can be understood and why it is necessary, this report strives to elucidate the successes and failures ...

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The Financial Operation Of A Company

02 Nov 2017

2 (2 )

2.1. Introduction Literature relevant to finance management will be analysed in this chapter. This chapter will move from the emergence of management and its importance to finance management in universities. The literature will include the theory of development. A brief explanation of the method implemented in this study will conclude Chapter 2. 2.2 Management Companies ...

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The Nature Of The Transaction

02 Nov 2017

3 (3 )

No, for the purposes of this Standard, a transaction with an employee or other party in his/her ability as a holder of equity instrument of the entity is not a share-based payment transaction. For example, if an entity grant all holders of a scrupulous class of its equity instrument the right to acquire further equity ...

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The Principles Verse Rules Based Accounting Standard Debate

02 Nov 2017

2 (2 )

ABSTRACT The post Enron scandal escalated to the on-going principles-verse-rules-based debate. In response to the rules-based approach which was criticised as a result of the Enron scandal, SEC proposed a ‘roadmap’ which was to be used by US firms in applying US GAAP when reporting financial statement. The distinction between principle-based and rules-based accounting standards ...

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Three Limitations Of Financial Analysis

02 Nov 2017

5 (5 )

Introduction Financial analysis are evaluation of a business’s financial performance and as reference to guide the owners doing future financial plan by using own previous and current accounting record or compare with competitor. The analysis reveal the information such as profit or loss, cash flow available for business operation and pay debts, and position of ...

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The Business Taxation And Auditing

02 Nov 2017

1 (1 )

In this project of Business Taxation and Auditing we were required to visit any company in Lahore to grab some detailed information about that company. So we selected Haleeb Foods Limited for this purpose and in our report we will analyze the taxation and Auditing departments of the company, discuss all the tax and audit ...

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The Role Of Operations Within The Company

02 Nov 2017

9 (9 )

In any organization, operational manager’s role is very important for the success of the production services. An Operations Manager needs to think and plan valuable and efficient strategies that and make sure to increase the profitability, and growth of the company. The managers are working with the various departments like accounts, HR and finance to ...

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Verbal Decision Analysis Foundations And Trends

02 Nov 2017

9 (9 )

The decision maker is the central figure in decision making based on multiple criteria. Elicitation of the decision makers' preferences should take into account peculiarities of human behavior in the decision processes. This is the central goal of Verbal Decision Analysis or VDA (Larichev and Moshkovich, 1997; Moshkovich et al., 2005.) The Verbal Decision Analysis ...

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What Is Corporate Governance

02 Nov 2017

1 (1 )

2.1 Introduction The practice of good corporate governance helps to differentiate one organisation from others. Corporate governance has been heavily researched in the past few years and at its most central point it refers to the governance of corporations. The latter has gained momentum as a result of separation of ownership and control as owners/shareholders ...

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What Is Environmental Accounting

02 Nov 2017

4 (4 )

CHAPTER 1 Environmental accounting is an important tool for understanding the role played by the natural environment in the economy. Environmental accounts provide data which highlight both the contribution of natural resources to economic well-being and the costs imposed by pollution or resource degradation. Environmental accounting sometimes referred to as "green accounting", "resource accounting" or ...

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The Investment Decision Theories

02 Nov 2017

1 (1 )

- Introduction. That the success of the investment project depends to a large extent on the integrity of investment decisions taken at the start of the life of the project, and this due to the fact that investment decisions are distinct from operational decisions with a set of characteristics that make them more dangerous. Decisions ...

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The Role Of Performance Measurement

02 Nov 2017

1 (1 )

CHAPTER 2 LITERATURE REVIEW 2.1 Introduction This chapter will cover the literature on performance measurement, strategy map, balance scorecard and its role in aligning organizational goals to the strategy. By studying related literature on BSC, it is seen that BSC really plays a significant role in the success of an organization and that it helps ...

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Threat To Auditor Independence

02 Nov 2017

1 (1 )

In almost all countries auditing, as a profession, is becoming very demanding. Auditor independence has long been regarded as a cornerstone of the auditing profession (AICPA 1999; SEC 2000). The government of Mauritius often requests for a Report on Observance of Standards and Codes, Accounting and Auditing Review (ROSC A&A) which focuses on the institutional ...

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The Perceived Limitations Of Budgets

02 Nov 2017

6 (6 )

This article examine the discussion about the budget has been the subject of widely unfavourable criticism, the fundamental of which seems to be that the budgeting being incompetent to achieve the requirements of the competitive modern environment in recent years. In other word, there are criticisms and debates over the value of budgeting. One of ...

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What Are Narrative Reports

02 Nov 2017

1 (1 )

1.0 Introduction In recent years, the nature of business has changed fundamentally. Due to the recent global financial crisis, regulators and businesses have realised that the financial reporting system today is no longer sustainable. However, some of the companies have collapsed in the past even though they had extensive regulatory and reporting standards (ACCA, 2011). ...

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The Quality Metal Service Center

02 Nov 2017

4 (4 )

Quality Metal Service Center has shown its resilience in the industry through its century old existence banking on industry knowledge and high quality products. The company is doing well and would like to maximize its potentials by looking into its control system. Analysis has shown that potentially profitable projects may not be pushed through due ...

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User For Financial Statement And The Characteristic

02 Nov 2017

1 (1 )

Introduction ...

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The Quantity Of Disclosure

02 Nov 2017

4 (4 )

Moving from the assumption that high-quality information should usefully support external users in the judgment of past and future performance, we hypothesize that highquality disclosure is positively associated with accuracy and negatively associated with the dispersion of analysts’ earnings forecasts. According to Robb, Single, and Zarzeski (2001), proof of the progressive loss of relevance of ...

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The Overview Of Account System

02 Nov 2017

1 (1 )

With the establishment of any business, one of the essential steps is the development of a dependable accounting system. In many instances, the system is designed in-house and installed by a member of the entity’s own accounting department, although the system may be developed by an outside source such as a public accounting firm or ...

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Three Main Types Of Business Organisations

02 Nov 2017

5 (5 )

A Sole trader is a business started and run by one individual who provides the capital. It is easy to set up and operate. There are no formal procedures in establishing a sole trader business. The main legal obligation is that you must register as a self-employed person with the Revenue Commissioners. If you wish ...

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The Role And Limitations Of Accounting Information

02 Nov 2017

8 (8 )

The product of accounting is accounting information. Accounting information is primarily used to decide between different courses of action and results in an informed decision making process. The aim is for it to reduce the uncertainty inherent in the business environment where key decisions are required to be made about the future. It further reduces ...

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The Managing Financial Principles And Techniques

02 Nov 2017

6 (6 )

Price is based on the expense to produce the physical product or provide a service. This is known as cost of goods on a balance sheet and can include raw materials and other costs like machinery, labor and administrative overhead in goods-production companies, or salaries and bonuses in service-provider companies. Other internal and external considerations ...

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The background and role of inventory in accounting

23 Mar 2015 05 Oct 2017

5 (1,610 )

Introduction International accounting standard No.2 (IAS2) "Inventory" gives the rules which should be followed during the recording and presentation of inventory. Inventory refers to goods which are held by a firm for sale, are in the production process or are materials which will be consumed in the production process or in giving out of services. This standard does not apply to financial instruments and it gives out ...

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Importance of ‘True and Fair" View of Financial Statements

03 Oct 2016 20 Sep 2017

5 (1,885 )

Introduction This essay focuses on the definition of the ‘true and fair view’ and how to use in accounting practically. In my opinion, ‘true and fair view’ is essential in the real world of accounting because the company has to provide reliable and relevant information to demonstrate its actual financial situation in financial report. However, from December 2013, the ‘true and fair view’ is not defined ...

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Stock Market Shocks

03 Oct 2016 20 Sep 2017

6 (2,279 )

Keywords: stock market shocks, great depression Stock Market Shocks during the Great Depression and the International Financial Crisis. ABSTRACT: This paper inspects the impact of stuns saw in the Stock Market on yield and vocation. Amid the Great Depression. We display three principle discoveries. Initially, an unfavorable budgetary stun prompts a decrease in the assembling division's yield and vocation that crests around 11 months a short ...

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Internal Auditing Systems in Detecting Fraud

03 Oct 2016 20 Sep 2017

6 (2,106 )

INRODUCTION The chapter shall looks at the background of the study, statement of the problem, research questions, objectives of the study, purpose of the study, hypothesis, assumptions of the study, delimitation of the study, limitations of the study, and the organisation of the study. BACKGROUND OF THE STUDY Auditing was firstly introduced in the year 1879, in the banking sector when banking ...

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Taxation in the UK and Bangladesh

03 Oct 2016 20 Sep 2017

9 (3,303 )

Keywords: uk taxation, bangladesh taxation Unit-12: Taxation Introduction Taxation: It is concerned with the tradition of a countries government acquiring monetary fund from its countries populace in order for them to fund their public services. [1] For instance, taxation is used to build and maintain its public roads, public libraries, parks etc. Taxation is also used to support the countries security services like the police, army, ...

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International Accounting Standards

03 Oct 2016 20 Sep 2017

9 (3,465 )

APC311 INTERNATIONAL FINANCIAL REPORTING ASSIGNMENT (Word count: 3, 080) Introduction The growth of international activities has been rapid over time. These activities include areas of international trade, international investment, international bond and equity offerings, capital movements between countries and the number of multinational firms. Countries, entities and bodies who carry out these activities continuously seek to achieve growth and higher returns at lower cost of financing. ...

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Cost and Performance Management

03 Oct 2016 20 Sep 2017

10 (3,672 )

COST AND PERFORMANCE MANAGEMENT TABLE OF CONTENTS 1.0 INTRODUCTION 2.0 PURPOSES OF STANDARD COSTING 2.1 Decision Making Purposes 2.2 Challenging Target 2.3 Setting Budgets 2.4 Control Device 2.5 Inventory Valuation 3.0 ADVANTAGES OF STANDARD COSTING 3.1 Budgeting 3.2 Inventory Costing 3.3 Overhead Application 3.4 Price Formulation 3.5 Efficiency 3.6 Cost Control 3.7 Motivation 4.0 LIMITATION OF STANDARD COSTING 4.1 Limitations In Applicability 4.2 Reactive Nature 4.3 ...

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Accounting Software System of Hospital

03 Oct 2016 20 Sep 2017

6 (2,300 )

Introduction: Once the accounting system is installed in the hospital then the hospital records would be kept electronically. All the manual work would be shifted in the computer through the operators. This would lead to many benefits for the organization. First of all the cost of the hospital would be decreased and the time wold be saved for the staff. All the information for the medicines ...

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Accounting for Borrowing Costs

03 Oct 2016 20 Sep 2017

6 (2,021 )

Keywords: borrowing costs, accounting standard interpretation Abstract To prescribe the accounting treatment for borrowing cost incurred irrespective of its nature either capital or revenue and to interpret the said accounting standard in a fairly manner with the help of accounting standard interpretation as issued by ICAI. Introduction With the advent of Industrialisation, Organisations need more resources so as to compete in the Industry which it pertains ...

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Accounting Conservatism and Risk Taking Decisions

03 Oct 2016 20 Sep 2017

4 (1,472 )

Keywords: positive accounting theory, accounting conservatism Introduction Manager is in a position of Captain in Charge in ship of the Organization, so that to make organization more beautiful Manager has duty to make an important decision on Corporate Investment. These types of decisions create Agency Problems because of the time interest differences between manager and shareholder. This research is carried out to understand how conservatism accounting ...

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Accounting Rules and Joint Ventures in Europe

19 Sep 2017

6 (2,358 )

Bridging the GAAP The International Accounting Standards (IAS) was supposed to be a unifying conceptual framework which would bring accounting practices of various firms and industries under a single umbrella of standards. No matter if it is a Greek shipping magnate or an Italian fish processing plant, the EU envisioned that they would work within a single standard to better facilitate trade amongst various nations. Indeed, ...

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Internal Auditing Case Study

08 Aug 2017 17 Aug 2017

3 (990 )

 Activity 1. Key entity-level controls COSO Component Entity-level Controls Control Environment Organization wide integrity code of conduct Raising awareness and application of the code Granting restricted accesses to managers based on their department and responsibility scope Risk Assessment Organization wide risk assessment Risk ...

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Case Study - Skullcraft and ERP

08 Aug 2017 17 Aug 2017

3 (1,090 )

 Discussion Questions What inspired Skullcraft to pursue ERP even though the company had just 26 employees? Solution An Enterprise Resource Planning system is an integrated system which helps the organization to manage its resources; inventory, procurement, supply chain, finance, human resource etc. are few of the many resources an ERP helps to manage. Although, the company had just 26 employees, an ERP system ...

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Enron Accounting Scandal

08 Aug 2017 17 Aug 2017

3 (921 )

The Enron accounting scandal is one of the most shocking nightmares in the profession's history. Enron rises to success quickly after its establishment in 1985. However, despite attracting huge share prices, the company files for bankruptcy in December 2001 and its share value plummets from $92 to $0.67 within a span of one month. The question that most stakeholders still have is how such a ...

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Director Networks and Stock Price Cash Risks

08 Aug 2017 17 Aug 2017

7 (2,651 )

IntroductionA sprouting issue in corporate governance and the business world is the concept of executivenetwork. Recent accounting and finance literature use social network theory to explain variouscorporate behaviors and practices steaming from information, resources exchange and relationshipbuilding. The correlation between executive network and earnings management (Omer et al, 2016; Chui, et al 2012), director network and tax management (Brown & Drake, 2013), and director network ...

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Hanjin Bankruptcy Causes

08 Aug 2017 17 Aug 2017

11 (4,220 )

Abstract Over the past five years, Hanjin Shipping Co Ltd has maintained its ranking among the top 10 shipping companies in the world making it in 8th position in 2015 (JOC 2016), however, on 31st of August 2016, Hanjin Shipping declared bankruptcy. It was clearly leading to bankruptcy as company was showing low profitability and Hanjin vainly attempted to increase liquidity but it was too ...

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JB Hi-FI Corporate Social Responsibility

08 Aug 2017 17 Aug 2017

2 (621 )

Report: Part A For JB Hi-FI there are 4 types of corporate social responsibility to report. The environmental section must be included and it provides information on actions the company is taking to meet carbon footprint requirements. Second are Philanthropic responsibilities stating how the company supports charities through funding. Third is ethical involves workplace safety or the employee health and mainly involves the welfare of ...

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Factors in Inventorial Costs

08 Aug 2017 17 Aug 2017

4 (1,392 )

 1) Inventorial costs definition: In accounting, inventorial costs are those costs incurs when company obtain products or make to the end products before they sell them. So Inventorial costs are also involving to product costs which include costs of direct labour, direct material and manufactural overhead. Inventorial costs are recorded in inventory account as assets in balance sheets before products are sold as costs of ...

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Investment Report on Qantas Airlines

08 Aug 2017 17 Aug 2017

6 (2,181 )

Introduction Qantas main international hubs are at Sydney and Melbourne airport, as well as operates a significant number of international flights. Qantas owns Jetstar Airways and when it became privatised in 1993, became one of the most profitable airlines in the world. Qantas has a total of 299 aircrafts and 29,350 employees as of 2015, and its closest competitor is Singapore Airlines (SIA). ...

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Prevention of Fraud and Mismanagement Policy

08 Aug 2017 17 Aug 2017

7 (2,524 )

PURPOSE The Prevention of Fraud and Mismanagement Policy outlines measures taken by the Institute to prevent fraud and mismanagement. SCOPE This policy applies to all members of staff. STATEMENT Rosary Tertiary Institute is committed to dealing with fraud prevention. The Professional Conduct of Staff is the principle guide for dealing with fraud prevention. It states that staff members are required to inform themselves about fraud ...

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Foreign Corrupt Practices Act (FCPA) and Teva Pharmaceutical

08 Aug 2017 17 Aug 2017

3 (858 )

Teva Pharmaceuticals is the largest generic pharmaceutical manufacturer in the world[1]. As of December 22, 2016, Teva Pharmaceuticals now holds the record for the largest fine by a pharmaceutical company for violating the foreign corrupt practices act. The settlement amount includes $283 million fine from the DOJ and a subsequent $236 million fine from the SEC. This total fine of $519 million far outweighs the ...

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