Accounting Essays | Free Essays on Accounting

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Determining How To Obtain Financial Data And Assess Its Validity Accounting Essay

Published Date: 23 Mar 2015

10 Pages (3,824 Words)

This study is based on world's leading electronic and software based company Apple Inc. which is known as computer giant and it has already placed its identity as an innovative company and it has demonstrated that innovation can lead to market dominance. Apple encompasses a range of electronic and software product and services such as PC, Mac Book, iPhone, iPad, Apple TV, iTunes, Mac OS X, iLife, ...

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Posting Journal Entries To Ledger Accounts Accounting Essay

Published Date: 23 Mar 2015

7 Pages (2,466 Words)

Analysing the transactions and recording them as journal entries is the first step in all the accounting cycle. It is begins at the starting of an accounting period , continues during the whole period. Some common data included in journal entries such as : Journal entry number; batch number; type amount of money; accounting period; and description; name, auto-reversing; date Journal entries are enter in chronological order ...

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Evaluating Ethics Of Bernie Madoffs Investment Securities Fraud Accounting Essay

Published Date: 23 Mar 2015

11 Pages (4,310 Words)

Every business has an ethical responsibility not only to stakeholders but also to society at large. This responsibility should be in line with stakeholder interest and society's welfare. The government and regulators have a responsibility of ensuring that firms follow these ethical objectives. Failure to do so may lead to losses which will not only affect stakeholders but society at large. The financial fraud which was experienced ...

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The need for qualified staff in the hospitality industry

Published Date: 23 Mar 2015

31 Pages (12,348 Words)

Abstract from main body The aim of our project is to discuss and analyze the need for qualified employees in the hospitality industry and the way they contribute to the development of this segment. Our objective is to find out if education is an indispensable element or if there is another string in the mix that accounts for the success of today's leading hotel chains. We had ...

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Accounting standards Setting Approach: principles-based vs rules based

Published Date: 23 Mar 2015

6 Pages (2,069 Words)

Rules-based accounting is generally a list of detailed rules that must be followed when preparing financial statements. Principle based standards derive from a conceptual framework that provides for broad 'principles' to be adopted within standards and also requires professional and managerial judgment in relevance to particular transactions and events. US secretary Heary Paulson had once said "We must rise above the rule based mindset that asks Is ...

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Accounting Essays - Tax Evasion Popularity

Published Date: 23 Mar 2015

6 Pages (2,316 Words)

Tax evasion is a national pastime that is growing ever more popular. Nick Montague defines taxation as the means by which a civilised society performs that sometimes-uncivil task of taking money from one group in order to give it to another. This definition highlights an important purpose served by taxes. As it is already known, that taxes are a fiscal policy instrument used by the government to ...

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Importance Of Cost Control In Construction Projects

Published Date: 23 Mar 2015

10 Pages (3,756 Words)

The purpose of this report is to explain the importance of cost control in construction projects and its function. The Cost Control is an important process in construction project. It is widely practiced by contractors and needs to carry out throughout the life of project. The main objective of cost control of a project is to gain the maximum profit within the designated period within the budget. ...

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Management Practices Traditional vs Modern Innovative

Published Date: 23 Mar 2015

3 Pages (1,063 Words)

In last many years, few management accounting innovations has been developed. Managers have to make decision on a daily basis as well make decisions regarding the future and how to survive and grow in an energetic market place with ever growing uncertain circumstances. Traditional or modern management accounting system give relevant information to all levels of management, financial and other information to make decisions about planning, control ...

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Management's incentives for establishing and maintaining strong internal control

Published Date: 23 Mar 2015

4 Pages (1,431 Words)

25. Discuss management's incentives for establishing and maintaining strong 'internal control'. Before we start answer this question, let us understand what the definition of internal control is. Internal control is designed and implemented by an entity's management, those charge with governance of the entity, and other personnel to provide reasonable assurance regarding the achievement of objectives. In addition, internal control is also can be refer to a ...

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The Advantages And Disadvantages Of Traditional Absorption Costing And Activity Based Costing

Published Date: 23 Mar 2015

4 Pages (1,485 Words)

The major distinguishing features of ABC compared with traditional costing system are that ABC systems assign costs to activity cost centres rather than departments. (Drury, 2008) Although traditional absorption techniques may apparently seem to less complicated or tedious as opposed to ABC, the report will show why, ABC is the best most accurate technique. The traditional technique used to determine which technique is better of the two ...

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The History and structure of IASB

Published Date: 23 Mar 2015

3 Pages (950 Words)

On April 2001, in the needs for international accounting coordination, the International Accounting Standards Board (refer to IASB in the following context) took over its predecessor known as IASC (Board of the International Standards Committee) and was dedicated for international accounting standards settings. At the first meeting of IASB in London, UK, the main highlighted statement was that "any existing standards issued by IASC would remain being ...

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Ethics And Scandals In Financial Reporting Accounting Essay

Published Date: 23 Mar 2015

6 Pages (2,148 Words)

Integrity is of utmost importance for a successful career in business and finance in the long run. Some believe that the world of finance lacks ethical considerations. Whereas the truth is that such issues are prevalent in all areas of business. The business environment in much of the world is reeling from the revelation of several financial scandals in the past few years. The optimism of the ...

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The definition, history and importance of environmental auditing

Published Date: 23 Mar 2015

7 Pages (2,523 Words)

Introduction Environmental auditing is defined by the international chamber of commerce as the systematic examination of the interactions between any business operation and its surroundings. This includes all emissions to air, land, and water; legal constraints; the effects on the neighbouring community, landscape and ecology; and the public's perception of the operating company in the local area. An environmental audit does not stop at compliance with legislation. ...

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Top Down Approach For Audit Of Internal Control Accounting Essay

Published Date: 23 Mar 2015

5 Pages (1,687 Words)

An audit of internal control begins by using a top-down approach. The top down approach starts with a companies financial statements, and the auditor gaining understanding of the risks related to internal control over financial reporting. Once the auditor has this background knowledge the next step is to look at entity-level controls and move downward to significant accounts, disclosures, and assertions that may indicate a material misstatement ...

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Suppy Chain Management At H C Starck Accounting Essay

Published Date: 23 Mar 2015

7 Pages (2,796 Words)

I. Background: Richard Morse, a MIT graduate started National Research Corporation (NRC) as a process development company focused on developing vacuum technology. NRC initially used the technology to produce frozen orange juice concentrates and instant coffee. In 1950 NRC applied this technology for producing of high purity metals and started with tantalum (Ta) production in 1959. NRC went through a series of ownership, with HC Starck AG ...

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Answering Questions On Ethics In Marks And Spencer Accounting Essay

Published Date: 23 Mar 2015

5 Pages (1,929 Words)

Marks & Spencer is one of the UKs leading retailers, with over 21 million people visiting their stores each week. M&S offer stylish, high quality, great value clothing and home products, as well as outstanding quality foods, responsibly sourced from around 2,000 suppliers globally. M&S employ over 75,000 people in the UK and abroad, and have over 600 UK stores, plus an expanding international business. M&S is ...

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Why Are Ethics So Important In The Field Of Accounting Accounting Essay

Published Date: 23 Mar 2015

5 Pages (1,618 Words)

Based on what you know about accounting, what role do you see it playing in business operations? How dependent do you think a business is on its accounting department? Why? I think that accounting plays a very large role in business operations because it is needed to show the financial status of that business. It is also necessary to know what the status is in order to ...

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Advantage And Disadvantage Of Fixed Budget Accounting Essay

Published Date: 23 Mar 2015

5 Pages (1,864 Words)

However from a bird's- eye view, budget can be defined as a management tools that put the managers in control of a finical health of the organisation. The objective of the budget is to measure of the financial structure of the organisation and budget is a tool that forces management to be accountable in a structured and objective way. How manager manage the budget is key to ...

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An analysis of internal controls

Published Date: 23 Mar 2015

6 Pages (2,374 Words)

Internal control as "a process, effected by an entity's board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives" in Three categories: 1. Effectiveness and efficiency of operations 2. Reliability of financial reporting, and 3. Compliance with applicable laws and regulations 1.Internal control our EDP System Internal controls are a vigorous part of accounting and data processing systems. It is ...

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Pros and Cons of traditional absorption costing techniques

Published Date: 23 Mar 2015

4 Pages (1,466 Words)

Introduction The purpose of this report is to discuss the advantages and disadvantages of Traditional absorption and Activity based costing. In addition, analysis will be carried as to why a company needs either the Traditional based costing or the Activity based costing. Differences between both steps will be looked into. Moreover, this report will also consider, explanations of an allocation, an apportionment, absorption rates and suggestions will ...

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Budgeting Slack Kills All Benefits Of Budgeting Accounting Essay

Published Date: 23 Mar 2015

4 Pages (1,530 Words)

In an organization when a manager is responsible for planning incomes and expenses for the a future period, they can plan income very low and expenses very high so that this amounts gets approved by senior management. The Manager basically does this thing to be sure of meeting the budget with a very low income goal, the manager should be able to achieve it and go over ...

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Cadbury Company An Analysis of Financial Statements

Published Date: 23 Mar 2015

5 Pages (1,628 Words)

This analysis is to examine the performance of Cadbury in 2007 and 2008 from their financial statements which are shown below. There is a significant improvement in Cadbury's confection revenues which increased 15% to £5.4bn. Cadbury increased their price in their selling in 2008 for balancing the rise of their input cost and besides increased the price of their product, Cadbury also sleek their cost base, by ...

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Early Theories of Motivation: Maslow

Published Date: 23 Mar 2015

6 Pages (2,066 Words)

"If you want people to do a good job, give them a good job to do." Introduction Employee resourcing ensures that the organisation obtains and retains the people it needs and employs them efficiently (Armstrong, 2006). Employees stay with organisations because effective HR practices provide a supportive work environment, thus, it is imperative that organisations develop effective policies that enable them to recruit, select, and retain competent ...

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How To Prevent Another Satyam Like Fraud Accounting Essay

Published Date: 23 Mar 2015

5 Pages (1,937 Words)

Satyam a leading global business and information Technology Company, delivering consulting, systems integration, and outsourcing solutions to clients in over 20 industries. Satyam Computer Services Ltd was founded in 1987 by B.Ramalinga Raju. The company offers information technology (IT) services spanning various sectors, and is listed on the New York Stock Exchange and Euro next. Satyam's network covers 67 countries across six continents. The company employs 40,000 ...

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One set of Global Accounting Standards Good idea

Published Date: 23 Mar 2015

5 Pages (1,664 Words)

The US GAAP has influenced accounting standards in many countries. A decade ago, some still expected that it would eventually become globally accepted but in recent times, this is not likely because there has been a distinctive global shift towards the use of International Financial Reporting Standards (IFRS) in the past few years. Many nations such as Japan, China and India have active programs designed to achieve ...

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The Development Of Accounting In Malaysia Accounting Essay

Published Date: 23 Mar 2015

14 Pages (5,588 Words)

A tendency towards adopting the style of accounting institutions and practices of western developed countries that colonized the developing countries has been dominated in the latter countries (Ali, Lee & West, 2008). Apparently, the Malaysian accounting development is strongly influenced by the accounting framework that the United Kingdom (UK) applied. The British colonial presence can be considered as a key phrase that brought about the noteworthy influences ...

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Definition Of Relevant Costs And Irrelevant Costs Such As Future Costs Accounting Essay

Published Date: 23 Mar 2015

12 Pages (4,665 Words)

Ref: A report submitted to Board of Directors on key roles of strategic management accountant, relevant and irrelevant costs and revenues term in strategic management accounting decision making and benefit and limitation of activity based costing. EXECUTIVE SUMMARY Jessup Ltd is a medium to large, a fast growing company in advertising and public relations. The company is run by four directors who are advertising experts. The purpose ...

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Audit internal review activities within an organization

Published Date: 23 Mar 2015

17 Pages (6,525 Words)

Internal audit function is the crucial part of an entity's corporate governance. Their has been important concern about the level of fraud within the company. The purpose of this study is to evaluate whether the companies with an internal audit function can detect fraud with those without. We find that the companies with internal audit function are performing more well than those without the function of internal ...

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A standard costing and variance analysis

Published Date: 23 Mar 2015

5 Pages (1,777 Words)

Study suggests that many companies use standard accounting to determine costs and for measuring performance. However, there has always been speculation on standard costing being the most effective measurement. The actual cost usually differs from the standard costs, which is based on calculations and assumptions. Standard accounting takes into account various factors like price, specifications, quantity and quality of the material. The estimations involved in analyzing and ...

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A ratio analysis comparison of Rolls Royce and GE

Published Date: 23 Mar 2015

10 Pages (3,993 Words)

Rolls Royce and GE are two of the most renowned names in the global engineering sector. The GE is based in the US while the Rolls Royce has its origins in Europe. Due to the difference of the regions, the companies follow different accounting principles in reporting their performances. The GE uses the US GAAP and the Rolls Royce uses the IFRS. The difference in the formation ...

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Motivation Behind Creative Accounting Accounting Essay

Published Date: 23 Mar 2015

5 Pages (1,944 Words)

Creative accounting is a practice that potentially being undertaken as a result from some individual care more on their own interest and indirectly causes issues arise in ethical dimension of creative accounting. From information perspective, agency theory gives a clear picture on creative accounting scenario. Whereby managers misuse their privileged position in manipulating financial reporting in their own interest which providing superior information content to shareholder. Lack ...

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Understanding the accounting cycle and importance of accounting

Published Date: 23 Mar 2015

3 Pages (1,197 Words)

The Importance of Accounting To understand accounting information and use accounting information is important for any business. "Information that is provided to external parties who have an interest in a company is sometimes referred to as financial accounting information," according to Williams, Haka, Bettner, and Carcello (2006, p. 4). The main reason in providing accounting and financial information is the use of said information in decision-making purposes. ...

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Accountability Representation Control Three Pillars of Organizational effiency

Published Date: 23 Mar 2015

9 Pages (3,428 Words)

Accountability, representation and control are often perceived as the three different entities; however, they are three interconnected topics which form the base of the organization. They function on the various aspects of the accounting which is a diversified field and can be studied under these three heads in more detail. I have tried to illuminate the major aspect of all these three topics with respect to accounting ...

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Nature And Purpose Of The Conceptual Framework Accounting Essay

Published Date: 23 Mar 2015

15 Pages (5,858 Words)

Introduction The accounting conceptual framework has been criticized for not providing an adequate basis for standard setting. This inadequacy is evidenced through the FASB's standards becoming more and more rule-based. Nevertheless, no empirical evidence has been gathered to support the criticisms of the conceptual framework. We analyzed the five qualitative characteristics of accounting information from the conceptual framework in conjunction with an individual's intention to use/rely on ...

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Critical Reflection On Corporate Social Responsibility Projects Accounting Essay

Published Date: 23 Mar 2015

4 Pages (1,580 Words)

The aim of this paper is to provide a critical reflection considering the ethical point of view of the CSR projects which companies are increasingly launching with the global emerging trend of corporate social responsibility in the business world today. The purpose is to evaluate the objectives of these campaigns, comparing if they are rather actions targeting profits or/and better corporate image or if they are truly ...

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Positive Accounting Theory

Published Date: 23 Mar 2015

7 Pages (2,682 Words)

INTRODUCTION Purpose The purpose of this report is to analyse the effect of adopting AASB 2 Share-based Payments. Besides, this report will also provide discussions about the reaction of some parties related to this adoption. Background In July 2004, there is a significant change in the accounting requirements for share-based payments. The previous standard that governs share-based payment was AASB 1046 Director and Executive Disclosures by Disclosing ...

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Literature Review on the determination of accounting standards

Published Date: 23 Mar 2015

7 Pages (2,527 Words)

Introduction Ross L. Watts and Jerold L. Zimmerman have written a remarkable paper in accounting research which attempt to provide positive theory about factors influencing companies in lobbying on accounting standards. The paper also discuss the question whether the size of the companies affect their opinion on certain standards. This paper is important because it makes contribution to the positive accounting theory development. It might be the ...

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Experiences in real working environment

Published Date: 23 Mar 2015

8 Pages (2,936 Words)

Introduction One of the requirement parts of the course WORK-N352 at Sharjah Women's College, of work experience subject, which is under the supervision of Mr. Abbot Jason Haroon. This course provide us to experience work in real working environment which will give students the opportunity to develop good working experience, habits and practices that has been observed in real working environment which will enable students to transfer ...

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Corporate Reporting Case Study Diageo plc

Published Date: 23 Mar 2015

8 Pages (3,116 Words)

1. Information about the company Diageo, formed in 1997, from the merger of Guinness PLC and Grand Metropolitan PLC, is a multinational company, trading in over 180 markets across the world, listed on both the London Stock Exchange (DGE) and the New York Stock Exchange (DEO). It is the world's leading premium drinks business. The company containes 24,270 employees worldwide with offices in around 80 countries. Company ...

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The significance of budgeting in a non-profit organization

Published Date: 23 Mar 2015

5 Pages (1,727 Words)

Introduction Budgeting is enormously significant in a non-profit making organization. A profit enterprise centralizes on maximum the profits and shareholder value, whereas, a non-profit organization is focus on their goals. Deficient of financial flexibility always appear in a not-for-profit association as they are not undertake an exchange transaction, they just provide social service and their funds is rely on the donation. There will be a disaster for ...

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HIH Insurance The failure in corporate governance

Published Date: 23 Mar 2015

10 Pages (3,768 Words)

In the past few years, the collapse in large public listed companies has raised stakeholders concern about corporate governance, which is a leading issue area for business worldwide. While numerous definitions of the term corporate governance have been suggested, it is generally defined as the framework of processes and structures to control and manage a corporation with the objective of enhancing company and shareholder wealth, whereas at ...

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Factors Affecting The Reliability Of Audit Report Accounting Essay

Published Date: 23 Mar 2015

10 Pages (3,964 Words)

Introduction The end of an independent audit closed with a written audit report. According to section 205 of the Companies Act 2001, the auditors shall make a report to the shareholders on the audited financial statement (FS). The objective of an audit is to render an opinion about the fairness of the client's financial statement. Audit report contains information value for users. Durendez Gómez-Guillamón (2003) states that ...

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How culture has influenced accounting

Published Date: 23 Mar 2015

5 Pages (1,831 Words)

Many studies have demonstrated that culture diversity had influenced accounting practice within national and international borders. Accounting can therefore be said to have been influenced by its environment, which includes the culture of the country in which it is being operated (Nobes & Parker, 2008) Mueller et al. (1994), cited in Alexander.et al, also stipulate that each accounting system is a product of its specific culture and ...

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The roles and objectives of AASB

Published Date: 23 Mar 2015

8 Pages (3,011 Words)

"The AASB is hardly an independent standard setting body. Its policies and activities are subjected to the dictation and supervision by at least two big brothers - the IASB and the FRC, not to mention the ASIC." A critical evaluation of this statement has been done in the light of the present accounting regulatory environment in Australia. This study had a detailed analysis within the concerned Government ...

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The Importance of independence for external auditors

Published Date: 23 Mar 2015

11 Pages (4,056 Words)

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.' (Anon, www.europeanlawyer.co.uk) [Online] 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 expression of a conclusion without ...

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The Need Of Accounting Standards Accounting Essay

Published Date: 23 Mar 2015

3 Pages (961 Words)

In the course of this essay, the topic that will be discussed is the importance of having international accounting standards. If we merely look at accountings' basic purpose of accounting standards, it is to facilitate the provision of financial information as well as, to give a clear picture to corporations' investors of their cash inflow, assets, equity and liability , revenues and expenditures etc. Accounting has existed ...

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A Report on the Balanced Scorecard for Yunnan Lucky Air

Published Date: 23 Mar 2015

6 Pages (2,098 Words)

The Chinese airline industry is a heavily regulated industry which provides limiting flexibility to both new as well as growing airlines. In the recent years many low-cost airlines have mushroomed, Lucky Air being one of them. Lucky Air was founded in July 2004 with an initial capitalisation of US$2.2 million. The ownership of the airline is with Hainan Airlines, Shanxi Airlines and Yunnan Shilin Tourism Aviation.The airline ...

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Accounting Essays - Microfinance: Theory and Practice

Published Date: 23 Mar 2015

5 Pages (1,718 Words)

Microfinance: Theory and Practice Analysis of a Microfinance Institution: MIKROFIN Banja Luka The institution's mission, although non-profit, is to fulfill this mission while remaining financially viable. This is common for many microfinance institutions and is a defining point of the microfinance industry. MFI's have to fulfill their social mission, eradicating poverty for low-income active people, while being financially practical. This is why social performance is equally important ...

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Exploring Ridderstrales aim with the account management system

Published Date: 23 Mar 2015

5 Pages (1,758 Words)

Carl-Erik Ridderstrale, president of Kanthal, was motivated to develop a system to measure customer profitability. According to Ridderstrale, "we needed an account management system if we were to achieve our strategy for higher growth and profitability. An account management system as a part of the Kanthal 90 Strategy will enable us to get sales managers to accept responsibility for promoting high-margin products to high-profit customers." Ridderstrale wanted ...

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Public Private Partnership The Concepts And Theories Accounting Essay

Published Date: 23 Mar 2015

5 Pages (1,935 Words)

Introduction: Public Private Partnership has been inferred to as Public Action Partnership than a mechanism for providing services and good governance. The assumption, nevertheless, is that the process in which the citizen influences decision to be made by government or an organisation that is exclusive of profit lust is what is being referred to as public action while private partners are characterised by the signpost of profit ...

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How timeliness of audit reports effects financial statements

Published Date: 23 Mar 2015

14 Pages (5,370 Words)

Introduction One of the important issues affects the timeliness of the financial statements which convey financial information to investors is the timeliness of the audit reports (Dopuch et al., 1986; Field and Wilkins 1991; Loudder et al., 1992). The financial information timely disclosure through audited financial statements plays an important role in reducing the asymmetric dissemination of financial information (Jaggi & Tsui, 1999). Indeed, the shorter the ...

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The Objective Of Financial Reporting And Qualitative Characteristics And Constraints Accounting Essay

Published Date: 23 Mar 2015

9 Pages (3,249 Words)

1 Introduction The U.S. Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), namely the Boards, jointly published a Discussion Paper and received 179 responses. The Exposure Draft was created from the Boards' redeliberations regarding issues being raised by respondents. The Boards published this common Exposure Draft for the public to comment and it is the Board's broader conceptual framework. The Boards are considering their ...

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The Auditing Ethical Issues Accounting Essay

Published Date: 23 Mar 2015

4 Pages (1,418 Words)

Auditing plays an important roll in providing reasonable assurance for investors and other parties looking to put money into a company or corporation. For auditors to be able to help provide assurance they must have an important attribute, which is independence. An auditor's primary purpose is to represent the public. This requires auditors to work with clients in acquiring knowledge if the company or corporation is in ...

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Benefits of Activity - Based Costing, ABC

Published Date: 23 Mar 2015

6 Pages (2,102 Words)

Activity Based Costing (ABC) is an accounting method that assigns costs to activities according to their use of resources, rather than products or services. This enables resources and other related costs to be more accurately attributed to the products and the services which they use. It does not change or eliminate any costs, in the other way; it provides detailed information on how costs are consumed. The ...

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Why Is Budgeting Important Accounting Essay

Published Date: 23 Mar 2015

5 Pages (1,899 Words)

A budget could be an elaborated set up, expressed in quantitative terms that specifies however resources are going to be non-heritable and used throughout such amount of your time. The procedures wont to develop a budget represent a budgeting system. Budgeting systems have 5 primary purposes: (1) coming up with, (2) facilitating communication and coordination, (3) allocating resources, (4) dominant profit and operations and (5) evaluating performance and providing incentives. Budgeting is simply balancing your expenses with your income. If they don't balance and you spend more ...

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Examining The Effectiveness Of Accounting Systems Accounting Essay

Published Date: 23 Mar 2015

15 Pages (5,690 Words)

The assignment begins with an attempt to find out the effective of accounting systems within a business and the analysis of management control systems of a business. Research: I used a mixture of primary and secondary research methods to complete this assignment. I have provided references at the end where necessary and used a variety of books and notes. Along with that I consulted a few websites, ...

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The Importance of management accounting research

Published Date: 23 Mar 2015

6 Pages (2,303 Words)

Management Accounting Research is necessary to the healthy development of Accounting Subject and to make information more up to date for the practitioners. On the other hand, majority of actual research are often very academically focused and many practitioners have restricted knowledge or interest in academic papers. This paper will critically assess the previous statement using a specific piece of management accounting research and demonstrate how this ...

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Roles of MIS in Toyota

Published Date: 23 Mar 2015

4 Pages (1,546 Words)

The operations of Toyota have been impacted by tremendous developments in technology. Because of this, manufacturing operations within the company have significantly improved. For instance, vehicles and car parts are transported ahead of time, and this prevents large amounts of money from being utilized for storing activities (Fujimoto, 2001). The MIS of Toyota offers remedies for the organization concerning car and process structuring and planning for the ...

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Problems Faced By Auditors Accounting Essay

Published Date: 23 Mar 2015

3 Pages (1,053 Words)

The standard requirement of auditing requires auditors to conduct audits of the companies independently and without any interference from the concerned company. According to few surveys the auditors are usually hassled by the companies' top management while the auditors are conducting the audit report of the concerned companies, the surveys have also reported that the auditors usually comprises their independence by providing clients with the consulting services ...

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The Bre X Scandal Accounting Essay

Published Date: 23 Mar 2015

8 Pages (2,832 Words)

A short introduction to what happened. Explain the fraud. Fraud is defined as intentionally deceiving or causing damage to another individual or individuals in order to acquire personal gain. It is a misrepresentation of specific facts by a person aware of the falseness in order to persuade others, so the individual is able to achieve that personal gain. The Bre-X scandal is a perfect representation of ...

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Small and Medium Enterprises in Mauritius

Published Date: 23 Mar 2015

11 Pages (4,103 Words)

Basically businesses are regarded as small based on different features. Different countries define SME differently. For example the definition of SMEs in European Union (Eu) is based on Turnover or balance sheet total and headcount. The Small and Medium Industries Development Organization (SMIDO) which was established under the SMIDO 1993 as a parastatal body, was the prime support institution for Small and Medium Enterprises (SMEs) in Mauritius. ...

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Factors Affecting The Successful Implementation Of Balanced Scorecard Accounting Essay

Published Date: 23 Mar 2015

5 Pages (1,978 Words)

Aim- The objective of this paper is to exhibit the factors affecting the sucessful implementation of a Balance scorecard. Introduction- A brief idea about balanced scorecard,definition & operation. Literature Review and and Analytical framework- Detailed Analytical review of the researchers , on the factors affecting sucessful implementation of BSC. Conclusion - A summary of the above topic and recommendations . BSC INTRODUCTION Balance scorecard is a strategic ...

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Calculation Of Traditional Costing Method Accounting Essay

Published Date: 23 Mar 2015

17 Pages (6,575 Words)

The objective of doing this Cost Accounting Assignment is to understand how to do a proper calculation of traditional costing method and the Activity-based Costing. It is important to have this basic practice to help us in the experience of doing this calculation while we are studying other topic. Through the process of calculation of both methods, I have done by given the history of both method, ...

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Strategies To Resolve The Principal Agent Problem Accounting Essay

Published Date: 23 Mar 2015

4 Pages (1,229 Words)

In general, the principal-agent problem refers to difficulties of motivating one party the agent to act for the best interest of the other party the principal. In a company, the owners of the assets (the stockholder) are the principals and the managers of the company are the agents. The stockholders of the company authorize the managers to manage and use their resources to make profit for the ...

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Personal Income Tax System in Nigeria

Published Date: 23 Mar 2015

14 Pages (5,375 Words)

This chapter gives a comprehensive explanation of the Nigeria personal income tax system, tax compliance, tax fairness, impact of perception of tax fairness towards tax compliance, dimension of tax fairness and demographic factors and their impact on tax compliance. 2.2 Overview of Personal Income Tax (PIT) System in Nigeria Personal income tax (PIT) is the oldest tax system in Nigeria which was first introduced as a community tax ...

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The Differences Between International Financial Reporting Standards Ifrs And Current U S Gaap Accounting Essay

Published Date: 23 Mar 2015

12 Pages (4,542 Words)

The differences between International Financial Reporting Standards (IFRS) and current U.S. GAAP are numerous. International Financial Reporting Standards (IFRS) are principles-based Standards, Interpretations and the Framework (1989) adopted by the International Accounting Standard Board (IASB). Many of the standards forming part of IFRS are known by the older name of International Accounting Standards (IAS). IAS was issued between 1973 and 2001 by the Board of the International ...

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The Potential Users Of Financial Accounting Information Accounting Essay

Published Date: 23 Mar 2015

5 Pages (1,928 Words)

The users are an important component in accounting systems, and play a key role in usefulness of financial accounting information. Financial accounting is a term usually applied to external reporting by providing information about the financial position of a business to a wide range of users in making economic decisions (Weetman, 2011). The purpose of this paper is to review the relationships between the potential users and ...

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Ethics and Corporate Responsibility: Accounting Fraud

Published Date: 23 Mar 2015

6 Pages (2,138 Words)

The key issued described in the suit against Xerox Corporation is that Xerox had overstated its revenues during the past four years by almost $2 billion. The fraudulent scheme had misled investors about Xerox's earnings to polish its reputation on Wall Street and to boost the company's stock price. These accounting fraud cases show us that ethics is a real issue, a very current issue and it ...

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Activity based costing and problems it could solve

Published Date: 23 Mar 2015

7 Pages (2,720 Words)

Activity based costing is a management accounting technique that deals with assigning of the overhead costs in a more logical manner as compared to the traditional approach that deals with only allocating the costs based on the machine hours. This approach is based on assigning the costs first to their related activities and then finally assigning the costs of those activities to the products that only demand ...

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The Private Pension Industry In Ghana Accounting Essay

Published Date: 23 Mar 2015

29 Pages (11,222 Words)

Ghana, a role model in terms of economic and political stability has recently been upgraded to a middle-income country following years of implementing sound economic policy and stable political environment and with this upgrade comes its own challenges. Ghana's economy is strong and promises generous future growth and the need for a much more comprehensive social security system is understood to be of great importance. In 2004, ...

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Financial Statement Analysis

Published Date: 23 Mar 2015

4 Pages (1,334 Words)

Financial performance, as a part of financial management, is the main indicator of the success or failure of the companies. Financial performance analysis can be considered as the heart of the financial decisions. Rational evaluation of the performance of the companies is essential to prepare sound financial policies and to attract potential investors. Shareholders are interested in EPS, dividend, net worth and market value per share. Management ...

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Essay On Corporate Social Responsibility Accounting Essay

Published Date: 23 Mar 2015

7 Pages (2,573 Words)

The term stakeholders means a party that can effect or be effected by the actions of the business as a whole and they are the group of members without whose support the organisation cannot exist or they are the interested parties who is keen to know what the business is doing. In this situation the stakeholder is Steve Morgan who is the controller of the Newton Industries ...

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Management accounting information and criteria

Published Date: 23 Mar 2015

9 Pages (3,593 Words)

Management accounting information should comply with a number of criteria including verifiability, timeliness, comparability, reliability, understandability and relevance if it is to be useful in planning, control, and decision-making. Management accounting information should comply with a various number of criteria including verifiability, objectivity, timeliness, comparability, reliability, understandability and relevance if it is to be useful in planning, control and decision-making. Shall discuss the criteria to serve its ...

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Accounting Treatment Of Research And Development R D Accounting Essay

Published Date: 23 Mar 2015

16 Pages (6,226 Words)

Accounting treatment of research and development (R&D) charges is a controversial issue since the way of taking into account these fees can sometimes be motivated by incentives to handle the final results. The results of the study are based on a sample of French companies listed and quoted in the financial market: Indeed, this study examines the extent to which the decisions of the companies to capitalize ...

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A report on the Implementation of Standard Costing

Published Date: 23 Mar 2015

11 Pages (4,316 Words)

In current years, various tools such as activity-based costing, the balanced scorecard and target costing have been used in the business community. However, traditional management accounting systems continue to be widely applied. One example is standard costing, which has been used on a wide front during the last century. The purpose of this paper is to examine the widely use of standard costing system. Despite it is ...

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The Aicpa Code Of Professional Conduct Indicates That Threats To Independence Accounting Essay

Published Date: 23 Mar 2015

6 Pages (2,219 Words)

According to Auditing and Assurance Services (2011), the general purpose of Rule 101, Independence, is that "a member in public practice shall be independent in the performance of professional services as required by standards promulgated by bodies designated by Council." Rule 101 relates primarily to audit and attest engagements. Auditing and Assurance Services (2011) states that "auditors should preserve independence, the mental attitude and appearance that auditors ...

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Pros and Cons of budgeting in modern environment

Published Date: 23 Mar 2015

5 Pages (1,756 Words)

Budgets are recognized as time-honored tools for planning and setting organization's goals, for communicating among corporate constituencies, and for providing basis for operating results review as well as performance evaluation. While it is difficult for firms to have perfect budgets that make use of all functions equally well, differential emphasis on the respective uses of budgets reflects the environment variation and contracting needs. The modern economic environment ...

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The cost and benefits of an internal audit

Published Date: 23 Mar 2015

10 Pages (3,625 Words)

Every internal audit role should be established with a charter approved and reviewed annually at board level. The internal audit charter should describe the internal audit role in the organization it serves, including its purpose, authority, responsibility, and relationships with external organizations. The internal audit charter should be promoted across the organization at all levels and as appropriate across its supply chains and to its stakeholders. Internal ...

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Analysing the change in the role of the management accountant

Published Date: 23 Mar 2015

7 Pages (2,647 Words)

This work is focused on critically evaluating the tenacity of the change in the role of the management accountant from traditional accounting functions to that of a strategic planner and business partner. The work of Johnson and Kaplan (1987), titled "Relevance lost" has prompted a drill-down on this research area. Though most of the researchers agree to the changing role of the management accountant (Burns and Baldvinsdottir, ...

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The Role Of Accountants In Todays Business Organizations Accounting Essay

Published Date: 23 Mar 2015

5 Pages (1,836 Words)

In the past ten years, a significant amount of research attention was focused on recognizing, analyzing, contradicting, favoring, and critiquing the changing roles of accountants. In the past ten years, we witnessed accountants assuming additional tasks such as strategy formulation, systems development, organizational re-design and a whole lot more. In the 21st century, we have seen accountants devoting much less of their time to routine financial analysis, ...

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How Accounting information impacts business decisions

Published Date: 23 Mar 2015

3 Pages (880 Words)

Information of any sort is relevant if it would influence a decision. Accounting information is relevant if it would make a difference in a business decision. For example, when Colorado Group Ltd issues financial statements, the information in the statements is considered relevant because it provides a basis for forecasting future profits. Accounting information is also relevant to business decisions because it confirms or corrects previous expectations. ...

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Literature Review Of Production Planning And Controlling Accounting Essay

Published Date: 23 Mar 2015

7 Pages (2,652 Words)

Last year couple of authors tried their best to attempt to identify production planning and control (PPC) top authors. Fernandes, et al. published an article whose main goal is to classify the top PPC authors by means of a survey on PPC researchers. They identified top 10 authors, their influence and impact in PPC. The main contributions of Fernandes et al. (July 2009, pp. 461-478(18)) 'Identified (among ...

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Four Control Objectives Of Wages System Accounting Essay

Published Date: 23 Mar 2015

5 Pages (1,945 Words)

According to Millichamp & Taylor (2008), control objectives of wage system are as follows: To ensure that wages are paid to the existing employees at authorized rates of pay To ensure that wages are computed in accordance with work-performed records, in respect of working time, units produced, and other criteria To ensure that gross pay and net pay are calculated correctly and payments are made to the ...

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Advantages and disadvantages of public and private companies

Published Date: 23 Mar 2015

4 Pages (1,577 Words)

Public companies have the advantage over private companies in access to capital to grow the business. But private companies can react more quickly to challenges and opportunities without going through exhaustive decision making processes. Advantages and disadvantages of public companies. Public company is able to raise funds and capital through the sale of its securities it is important historically. To ease of raising capital public companies may ...

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Financial Control Through Strategic Planning In Organizations Accounting Essay

Published Date: 23 Mar 2015

11 Pages (4,142 Words)

Organizations are striving in these days to stay competitive in turbulent business world. Strategic planning become very integral part of all successful organizations. If organizations don't care about strategic goals then this competitive business world just kick out from the rivals. Finance is life blood of every organization in the world if organization has insufficient finance to run their operations they couldn't survive long term. Enterprise resource ...

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Is accounting profit figure a measure of true profit of an organizations

Published Date: 23 Mar 2015

3 Pages (943 Words)

Accounting rules and regulations are a 'mish-mash of rather conflicting concepts'(e.g. relevance and neutrality), giving managers discretion in deciding which principle to and not to apply(1). Profit is no simple figure which can be computed easily(2), infact it is a thorough process of naming and counting(3); identifying, calculating and summarizing many references generated. Some of these items donot exist, and hence are brought into existence by identifying ...

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Advantages Of Standard Costing Accounting Essay

Published Date: 23 Mar 2015

3 Pages (1,189 Words)

Despite the advantages just noted for some applications of standard costing, there are substantially more situations where it is not a viable costing system. Here are some problem areas: Cost-plus contracts. If you have a contract with a customer under which the customer pays you for your costs incurred, plus a profit (known as a cost-plus contract), then you must use actual costs, as per the terms ...

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The Financial Reporting Requirements For Governmental And Nonprofit Organizations Accounting Essay

Published Date: 23 Mar 2015

4 Pages (1,373 Words)

Before preparing any financial statements for a Public Health Center, we need to review the financial reporting requirements for governmental and nonprofit organizations. It is understood that there is a governing authority for regulating the financial reporting on this specific situation. It should be taken into focus and consideration the quality of nonprofit organization financial reporting. Nonprofit and governmental entities' financial reporting requirements, objective functions, and governance ...

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The Chartered Institute Of Payroll Professionals Accounting Essay

Published Date: 23 Mar 2015

8 Pages (3,031 Words)

Cambridge Education Ltd provides HR/Payroll and Education services to schools within the Local Authorities. The company specialises mainly in the education sector and has been supporting HR and Payroll services and Education services to schools since 2000. Assisting with timely and accurate payments to employees are key objectives of the payroll department. In addition, the company ensures that the employees pay are applied under the Local Authority ...

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Definition and purpose of computer accounting information system

Published Date: 23 Mar 2015

8 Pages (2,926 Words)

This literature review will begins with definitions and the purpose of (AIS) and discussion of the studies of general IT adoption and then reviews studies specifically focused on accounting software adoption. Then it will discuss the Uses,development and the step of AIS. The end of this literature review will discuss the effectiveness of accounting information system. Definition of computer accounting information system (AIS): The computer accounting information ...

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Importance Of A Fixed Assets Register Accounting Essay

Published Date: 23 Mar 2015

5 Pages (1,637 Words)

Nigerians generally are not in the practice of keeping proper records of the assets in their custody. We find it difficult to follow up on the depreciations and damages that mandatorily occur to these assets. Investment in fixed assets refers to capital investment and the purchase of long term goods. Fixed assets is a major part of the total assets in the case of all manufacturing organisations. ...

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Benefits and problems concerning traditional approach to budgeting

Published Date: 23 Mar 2015

20 Pages (7,642 Words)

In order to advise two different businesses about the benefits and problems associated with traditional approach to budgeting and budgetary control, i have collected and compiled the information regarding budgeting and divided it into different parts so that the reader may easily understand . 1.INTRODUCTION : A budget is a planning and controlling tool for an oraganisation.This tool can work effectively only when it is used with ...

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A detailed case study on the Rolls-Royce company

Published Date: 23 Mar 2015

10 Pages (3,971 Words)

Evolution of Rolls-Royce The glorious inception of car manufacturing business was pioneered by F.H. Royce and C.S. Rolls when they met in 1904 and in 1906 the company ROLLS-ROYCE Ltd was formed to unveil the six-cylinder Silver Ghost which, within a year, was acclaimed as 'the best car in the world'. In 1914 the First World War necessitates aero engine - the Eagle, designed by Royce was ...

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Managerial Accounting And Shareholders Accounting Essay

Published Date: 23 Mar 2015

6 Pages (2,211 Words)

1. What obligations did the financial managers have to their shareholders to do whatever is possible to avoid major financial losses associated with these products? According to Ask (2002), all major business institutions nowadays are being forced to continuously upgrade their financial status, technologies, innovate their products and services that they offer as well as extend their customer reach to avoid major financial losses associated with problems ...

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The Factors Affecting Auditor Independence Accounting Essay

Published Date: 23 Mar 2015

7 Pages (2,775 Words)

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 pressure of clients [1] (Ahmad, 1985). Literature has contemplated two standards for assessing auditor ...

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What Is Process Costing Accounting Essay

Published Date: 23 Mar 2015

9 Pages (3,285 Words)

A process costing technique is worn in favor of Indus deception producing substance, oil, fabric, and flour, pharmaceutical, shoos and petroleum. This kind of estimate is too old through firms developed such clothes methods be the gathering sort manufacturing which manufactures such equipment given that kind writers, automobiles. Airplanes and home embrace emotional appliances. Lastly certain service industries, such sagas, stream, and warmth, cost their goods via ...

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A Research Paper on IFRS and Its Implications

Published Date: 23 Mar 2015

8 Pages (3,169 Words)

International Financial Reporting Standards (IFRS) is a comprehensive, globally accepted set of accounting standards utilizing a principles-based approach with a greater emphasis on interpretation and application of those principles, aiming at best reflecting the economic substance of transactions. It is a less extensive body of literature than U.S. GAAP with limited industry guidance and lesser detailed application guidance. IFRS requires a much greater exercise of judgement, supported ...

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Balanced Scorecard In Hsbc Bank Accounting Essay

Published Date: 23 Mar 2015

8 Pages (3,198 Words)

CHAPTER 1 In the past decades, many organizations were facing intensive pressures for changes in strategies and structures without a proper human resource management and performance management model (Weng, 2011). It has been a challenge to many managers to measure and appraise their human capital with an increasing and constantly changing volume of employees across the organization at different levels as well as across different geographic locations ...

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The reasons companies create and maintain accounting systems

Published Date: 23 Mar 2015

3 Pages (978 Words)

Running a business successfully requires the business owner many skills. One of the necessary skills is the knowledge about the accounting system. The accounting always plays an important role in the financial management of business. Many different accounting aspects affect the business success, so the more the business owners acknowledge the accounting systems, the more chances they get to succeed. There is an old saying in business, ...

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The Zero Based Budgeting Accounting Essay

Published Date: 23 Mar 2015

9 Pages (3,205 Words)

Zero-based budgeting avails a better approach to dealing with the drawbacks associated with incremental budgeting. Unlike in incremental budgeting, zero-based approach does not necessarily start from the previous year's budget level; instead, the existing operations are evaluated and continuance of the operation or activity ought to be justified on the basis of its utility and its need to the company. Zero-based budgeting pursues to justify resource allocation ...

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