In trinidad and tobago the spiraling crime situation

Introduction In Trinidad and Tobago the spiraling crime situation has been committed predominately by young males. This study focuses on the relationship between the violence in schools and the crime situation in the wider society in Trinidad. By curbing school violence it will greatly reduce the criminal activities occurring in society. Studies have shown that … Read More»

Definition of fixed cost and variable cost

Fixed cost (FC): is a cost that remains constant, in total, regardless of changes in the level of activity. Fixed costs are not affected by changes in activity. Consequently, as the activity level rises and falls, total fixed costs remain constant unless influenced by some outside force. But fixed cost per unit decreases as the … Read More»

Current Purchasing Power Accounting Accounting Essay

Accounting theory is a set of basic assumptions, definitions, principles, and concepts surrounding the accounting rule. It includes the reporting of accounting and financial information to relevant or interested parties. There are several approaches that are used in the development of accounting theory. The two main ones are normative theory approach and the positive theory … Read More»

Auditing Is The Accumulation And Evaluation Of Evidence Accounting Essay

Auditing is the accumulation and evaluation of evidence about information to determine and report on the degree of correspondence between the information and established criteria. Auditing should be done by a competent, independent party and communicate the results to interested users. (Elder, and others, 2007, p .4) The purpose of audit is to enable the … Read More»

The advantages and disadvantages of Strategic Management Accounting

In recent years, the strategic management process has become more complex and costly. Growing competitiveness in many markets and along many combinations of dimension is increasing of analysis facing managers. The term strategic management is used to refer to the entire scope of strategic-decision making activity in an organization. We can define Strategic Management Techniques … Read More»

The Implication For Users Of Financial Statements Accounting Essay

Financial statements should be well understood by those who read it especially those individuals who have considerable knowledge of business and economic world and those ones willing to learn the information carefully. There are various users of financial statements. These users are classified into two broad categories. These users have different purposes for using these … Read More»

Defining the purpose of Strategic Management Accounting

Since the 80s a new term has been coined in management accounting literature: “Strategic Management Accounting” (SMA) (Simmonds, 1981). Since then, an ongoing debate about what strategic management accounting comprises has been originated. The terms SMA is used by accounting academics and sometimes practitioners in the UK, Australia and New Zealand, while strategic cost management … Read More»

The relationship between corporate governance and internal audit

Introduction This assignment is an effort to describe the relationship between corporate governance and internal audit. But the first thing that has to be done is to understand what really corporate governance and internal audit are, and how they can be defined. Corporate Governance cannot be defined precisely; however, there are some theories and definitions. … Read More»

Modern Management Accounting

A) “Critically discuss the role of modern management accounting, and the extent to which it shapes, or is shaped by, the changing organizational and global context within which it is practiced”. B) “With reference to relevant literature, critically evaluate the effectiveness of Three recent developments in management accounting techniques, within specific organizational or national contexts … Read More»

Definition And Nature Of Intangible Assets Accounting Essay

The case study addressed the issues relating to intangible assets. It concentrated on explaining the nature of intangible assets and the valuation and recognition of intangible asset with identifiability and separability concepts. The case described the normative theory of accounting, prescribes how accounting should be practised. Normative theory that is considered in this case study … Read More»

Does traditional budgeting work in modern business?

The essay below is an attempt to analyse the issue of Traditional budgeting and discusses the fact that how now-a-days formal, traditional budgeting does not prove quite apt for modern businesses. To begin with, the essay will give a brief explanation of what is a budget and what is budgeting. This will be followed by … Read More»

Has the accounting profession lost its way?

Introduction If communication uses a language to be able to be understood, business has its own language too and it is known as accounting. Accounting is essential to a business. It is needed to evaluate the situation of the business. The information generated by accounting should be clear to whom it is intended for and … Read More»

A study of the new century financial corporation

New Century Financial Corporation was originally founded in 1995. It was a Maryland corporation based in Irvine, California in business to originate, purchase, sell and service home mortgage loans. Court documents reported the company experienced phenomenal growth during its 10 year history, originating $350 million in mortgage loans in 1996 to $50 billion in 2005 … Read More»

Exploring career prospects for accounting graduates

Accounting graduates have a healthy career prospect which makes them land lucrative jobs right after college. In fact it is said that, ”an accountant is a man who watches the battle from the safety of the hills and then comes down to bayonet the wounded.” The jobs range from working in a small business, an … Read More»

Analysis of Institutional theory and Stakeholder theory to ASES

The increase in the environmental degradation caused by carbon emission and climate change has necessitated the governments to pass several laws to ensure that business organisations integrate the environmental issues in the management policy. To satisfy the stakeholders, many large and medium organisations have integrated the environmental issues in the management policy in order to … Read More»

Introduction To The Activity Based Costing Accounting Essay

“Traditional managerial accounting is at best useless, and at worst dysfunctional and misleading.” (Shank, 1994) The Relevance Lost: The rise and fall of Management Accounting published by Theodore Johnson and Robert Kaplan in 1987 marked as the revolutionary criticism of the traditional costing system. Traditional Costing System was developed in early 20’s when companies were … Read More»

New Public Management in the UK

This chapter is devoted to the New Public Management (NPM) aspects regarding the UK perspectives. It begins with the meaning and the origin of the NPM. Some discussions are raised whether it is a conceptual thought or a practical application of management in public service. Then, it draws the line of NPM development along the … Read More»

The Importance of Working Capital Management

Working capital management defines the management in the short term of the relationship between a company’s current assets and liabilities. The most common elements of working capital will include inventory, receivables and payables which represent the operating working capital (OWC) held by a company usually within a year. Fig.1 below shows the interaction between these … Read More»

Cash flow accounting, accrual accounting, which ones better

It is argued occasionally, cash flow accounting or accrual accounting which one that can be provided better information for users. Leading to the primary basis on which the financial results of companies are reported. Firstly, the report would talk about review of the extant literatures between cash flow and accrual accounting’s role and intention of … Read More»

The History Of Earnings Management Accounting Essay

In the last few decades the world economy has changed. Undoubtedly, major factors on its shape had globalization, business integrity and technology. These processes changed the functioning of small, medium, and big businesses. In the beginning of 21st century there are many spectacular cases that are related to earnings management frauds. These events unbalance worldwide … Read More»

Qualitative Characteristics And Constraints Of Decision Useful Financial Reporting Information Accounting Essay

and do not necessarily reflect the views of UK Essays. This chapter describes the qualitative characteristics of useful financial information. The qualitative characteristics can be categorized as fundamental (relevance and faithful representation) or enhancing (comparability, verifiability, timeliness and understandability) based on how they influence the usefulness of financial information. However, it can limited by two … Read More»

Perception of the Effectiveness of Internal Audit Function

Management is constantly striving to effectively its objectives and protect assets. Therefore, management needs to continually evaluate the activities of every department in their organisation. Internal audit (IA) has become an important and an integral function of organisations in achieving their objectives and protecting assets. Thus, a study of the role and effectiveness of internal … Read More»

Critical Review Determination Of Accounting Standards Accounting Essay

Ross L. Watts and Jerold L. Zimmerman explore factors that motivate companies in lobbying on accounting standards and examine whether their opinion on certain standards are associated with their size. They use data from the companies which submit comments to the FASB’s Discussion Memorandum on General Price Level Adjustment. The empirical evidence supports the argument … Read More»

How internal and external users benefit from financial information

Nowadays the role of accounting is very important in business because it help the business to grow and expand. Accounting is the process of identifying, measuring, recording and communicating economic information. These steps help the manager to make financial decisions to improve their business. Internal users use financial information to plan, control and make decisions … Read More»

The different types of budgeting systems

Budgeting systems of different types, usually customised to the needs of individual organisational managements, are in use in various types of organisations, business, governmental and not for profit, across the world. The use of traditional budgeting has in recent years come under intensive critique by different academic and experts for its detrimental impact on different … Read More»

The Implication of creative accounting on the firms

This project will explore several definitions of creative accounting and the range of reasons for a company’s directors to engage in creative accounting. It explores the nature and occurrence of creative accounting practices within the context of ethical considerations. In addition, it considers the various ways in which creative accounting can be found and summarizes … Read More»

Career planning incorporates is long and short term goals

The perfect career is not a standard of living .it’s a state of mind and state of being. In the perfect job I’m applying the talent I enjoy most to an interest I’m passionate about in an environment that fits who you are and what you value. With the rapidly changing world of work. It … Read More»

Value Chain Analysis and Traditional Management Accounting

Along with the development of world economic integration, the modern enterprises are facing the competitions and challenges not only from the domestic market, but also from the international markets. The companies are confront with the different economic environment, so that the social environment of accounting may also undergo some major changes(Pierce and O’Dea,2003). The first … Read More»

internal audit proficiency and internal controls

LITERATURE REVIEW 9.0 Introduction This chapter is a review of the related literature generated by the researcher on the subject of study. The chapter entails the relationship between internal audit proficiency and internal controls; internal controls and corporate governance; internal audit proficiency and risk management; internal controls and risk management; and risk management and corporate … Read More»

The Characteristics Of Financial Statement Accounting Essay

The main purpose of this assignment is to determine the five types of accounting users, their needs for Continental Limited financial statement, prepared an income statement and balance sheet with necessary working for Continental Limited for year ending 31 Dec 2010 for the internal use, prepared the income statement and balance sheet of Continental Limited … Read More»

Critical accounting theory

Introduction There are several reasons there is no one universally accepted theory of accounting. The reasons are of two sorts. The first is philosophical. The second is practical. This essay discusses each of these. It then provides examples from accounting theory. Philosophical reasons The statement “There is no universally accepted accounting theory” is true by … Read More»

The Absorption Costing Approach to Cost-Plus Pricing

Allocating a fair and proper price to a product or service may be a tricky balancing act for a company. Many firms have an ongoing struggle with setting their pricing strategies. It is a well known fact that the success of any product or service relies straight on the ability to sell them which anon … Read More»

Variance Analysis As A Tool For Effective Planning Accounting Essay

Abstract This project analysis the significance of variance analysis as a tool for effective planning in flour mills industries the project view planning variance analysis and standard costing primary and secondary are used. The use of primary data was heavily relied upon via questionnaire administered, the research adopt simple percentage in testing research Hypothesis. The … Read More»

Assessing financial management within Tesco plc

1.1 Determine how to obtain financial data and assess it validity Tesco is Britain’s leading retailer. We are one of the top three retailers in the world, operating over 2,711 stores globally and employing 366,000 people. Tesco operates in 11 countries outside the UK – Republic of Ireland, Hungary, Czech Republic, Slovakia, Turkey and Poland … Read More»

Accounting And Disclosure For Provisions Accounting Essay

Introduction: The International Accounting Standards Committee (IASC) issued IAS37 Provisions, Contingent Liabilities and Contingent Assets in September 1998. It replaced parts of IAS10 Contingencies (IAS37 BV2008) and became operative for annual financial statements covering periods beginning on or after 1 July 1999 (IAS37, BV2008, IN23). The objective of this standard is to ensure that appropriate … Read More»

Historical Cost and Fair Value

1.0 INTRODUCTION There have been many discussions and debates concerning use of fair value accounting against use of historical cost accounting. Some prefer fair value whilst some have a preference for historical cost accounting. Both methods of valuation have been criticized and as well embraced. It is evident that a quality description and quantitative information … Read More»

Purpose Of The External Audit Report Accounting Essay

This assignment is going to include a discussion on the perception of the external audit report, an explanation how and why wording in the external audit report has evolved, as well as an explanation and discussion on the IAASB’s proposals and a comment on possible future developments. Purpose of the external audit report When dealing … Read More»

Analysis Of BMW Financial Position And Performance Accounting Essay

This is a financial analysis report on BMW. Specifically, in the first part of this report, the financial position and performance of BMW for the four financial years from 2008 to 2011 will be firstly re-formulated, and the financial ratios for the company will be computed – for analysis purposes. In order to perform a … Read More»

Strategic Management Accounting and applying it

With the rapid development of the global economy, traditional management accounting has been difficult to meet the business strategic management and requirements. Strategic Management Accounting(SMA) for the modern enterprise is of great significance. However, it is a new techniques and approaches. Although strategic management accounting has been developed over 20 years, the SMA is still … Read More»

The traditional management accounting system mas has many limitations

The traditional management accounting system (MAS) has many limitations to the current MAS as it is not fully applicable to use currently due to the complexity of costing, and changes in the technologies. In Kaplan & Johnson criticisms, managers rely heavily on monthly management reports to reduce costs and increase productivity but not on the … Read More»

Criticism Of Traditional Costing System Accounting Essay

The traditional costing can be divided into absorption costing and marginal costing. The main differences between these two costing methods are the treatment of fixed cost. Normally, the absorption costing allocates the fixed cost to the units produced based on labour hour or machine hour whereas the marginal costing treated the fixed cost as periodical … Read More»

Sarbanes Oxley Act Of 2002 Accounting Essay

The purpose of this report is to present the Sarbanes-Oxley Act, starting from the history of self-regulation and its regulatory bodies, presenting the governance scandals which triggered the Act’s creation, emphasizing the requirements of Section 404 and concluding on recent crises. The history of self-regulation in the United States is structured in two parts: (1) … Read More»

Research For My Career Plan Accounting Essay

Introduction My career choice is public accountant. My choice is highly influenced by the passion I have for working with numbers. My second choice career is internal auditing .it is closely related to accountancy. Both the careers entail working with the numbers. Accountancy is a career which involves communicating, summarizing, classifying, interpreting and presenting financial … Read More»

Importance Of Audit Evidence Accounting Essay

According to Companies Act 1965 Section 174, auditor should perform the following duties, Statutory Duties. Auditor should examine and form an opinion whether the financial statements compliance the financial reporting standards of Malaysia and the Companies Act 1965. Duty to carry out audit. Auditor should examine and form an opinion whether the financial statements give … Read More»

The Role Of The Management Accountant Accounting Essay

At present, there is an argument about whether the role of the management accountant in organisations has changed when the business environment changed at the same time. The role of management accountants in organisations was measured by: (a) their skills requirements, and (b) the way other managers perceive them in their organisations (Tsamenyi and Yazfifar, … Read More»

A study of management accounting within McDonalds Corporations

McDonalds is the one of the largest food service retailer in the world, operating in 117 countries and serving more than 60 million people, it was owned more than 32,000 restaurants globally. Mc Donald operates its business in any of the three types Franchisee, Affiliate or as a Corporation. Company was founded by Richard and … Read More»

Performance Measurement Of Financial And Non Financial Results Accounting Essay

Every organisation strive for good performance. Performance improvement considers organisational change where management of the organisation puts in place some projects to help boost the current level of performance. In this respect the programmes may completely change the organisation behaviour and conducts to allow the changes to take effect. Management aims to increase the organisational … Read More»

The Zero Based Budgeting Accounting Essay

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 … Read More»

Balanced Scorecard In Hsbc Bank Accounting Essay

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 … Read More»

What Is Process Costing Accounting Essay

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 … Read More»

Managerial Accounting And Shareholders Accounting Essay

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 … Read More»

Benefits and problems concerning traditional approach to budgeting

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 … Read More»

Definition and purpose of computer accounting information system

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 … Read More»

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

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 … Read More»

Advantages and disadvantages of public and private companies

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 … Read More»

The Role Of Accountants In Todays Business Organizations Accounting Essay

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 … Read More»

The cost and benefits of an internal audit

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 … Read More»

Accounting Treatment Of Research And Development R D Accounting Essay

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 … Read More»

Essay On Corporate Social Responsibility Accounting Essay

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 … Read More»

The Private Pension Industry In Ghana Accounting Essay

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 … Read More»

Ethics and Corporate Responsibility: Accounting Fraud

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 Read More»

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

and do not necessarily reflect the views of UK Essays. 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 … Read More»

Strategies To Resolve The Principal Agent Problem Accounting Essay

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 … Read More»

The Bre X Scandal Accounting Essay

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 … Read More»

Roles of MIS in Toyota

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 … Read More»

Examining The Effectiveness Of Accounting Systems Accounting Essay

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 … Read More»

Benefits of Activity – Based Costing, ABC

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 … Read More»

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

and do not necessarily reflect the views of UK Essays. 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 … Read More»

Public Private Partnership The Concepts And Theories Accounting Essay

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 … Read More»

Accounting Essays – Microfinance: Theory and Practice

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, … Read More»

The Need Of Accounting Standards Accounting Essay

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, … Read More»

The roles and objectives of AASB

“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 … Read More»

The significance of budgeting in a non-profit organization

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 … Read More»

Experiences in real working environment

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 … Read More»

Positive Accounting Theory

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 … Read More»

Nature And Purpose Of The Conceptual Framework Accounting Essay

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 … Read More»

Understanding the accounting cycle and importance of accounting

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 … Read More»

Motivation Behind Creative Accounting Accounting Essay

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 … Read More»

A ratio analysis comparison of Rolls Royce and GE

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 … Read More»

A standard costing and variance analysis

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, … Read More»

Audit internal review activities within an organization

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 … Read More»

The Development Of Accounting In Malaysia Accounting Essay

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 … Read More»

One set of Global Accounting Standards Good idea

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 … Read More»

How To Prevent Another Satyam Like Fraud Accounting Essay

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. … Read More»

Early Theories of Motivation: Maslow

“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 … Read More»

Cadbury Company An Analysis of Financial Statements

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 … Read More»

Budgeting Slack Kills All Benefits Of Budgeting Accounting Essay

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 … Read More»

Pros and Cons of traditional absorption costing techniques

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 … Read More»

An analysis of internal controls

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 … Read More»

Advantage And Disadvantage Of Fixed Budget Accounting Essay

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 … Read More»

Answering Questions On Ethics In Marks And Spencer Accounting Essay

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 … Read More»

Suppy Chain Management At H C Starck Accounting Essay

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 … Read More»

Top Down Approach For Audit Of Internal Control Accounting Essay

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 … Read More»

The definition, history and importance of environmental auditing

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 … Read More»

Ethics And Scandals In Financial Reporting Accounting Essay

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 … Read More»

The History and structure of IASB

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 … Read More»

Management’s incentives for establishing and maintaining strong internal control

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 … Read More»

Management Practices Traditional vs Modern Innovative

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 … Read More»

Importance Of Cost Control In Construction Projects

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 … Read More»

Accounting Essays – Tax Evasion Popularity

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, … Read More»

Accounting standards Setting Approach: principles-based vs rules based

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 … Read More»

The need for qualified staff in the hospitality industry

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 … Read More»

Posting Journal Entries To Ledger Accounts Accounting Essay

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; … Read More»

The Limitations Of Activity Based Costing Accounting Essay

ABC Costing is a modern costing technique that is used to determine the cost of the product for the management reporting purposes. ABC Costing System is a tool that is used in decision-making process. However, it has some certain limitations. ABC Costing System is very costly to implement and maintain in a manufacturing and serving … Read More»

Evaluating the costing system in place at Apple

This report will address three issues of concern to Apple plc. First is the role and nature of management accounting information in strategic and operational decision making. Management needs to understand the type of decisions to be made at both strategic and operational levels, the traditional techniques that supported such decisions and the limitations of … Read More»

Understanding Cost Accounting and Depreciation

General: Delta’s cargo, the major transportation services in the Gulf Coast region. The Cargo manager Driscoll was making plan to buy a new crane from J.M. Crane Company. He was having issues about the depreciation for the crane and also for the forklifts that he had. Case analysis: The overall cost of the machine is … Read More»

Agency Theory Versus Stewardship Theory Accounting Essay

Jensen and Meckling (1976) defined an agency correlation as a contractual set-up under which the business owner or the principal engaged a manager or the agent to execute some service on his behalf and may usually entail some decision making exclusively by the agent. The agency theory revolves on the basic proposition about humans, which … Read More»

An analysis of Process costing vs. job order costing

Introduction Management accounting uses several costing techniques. Costing techniques are very important to the business management because they help them make sound decisions for the company. They also help companies keep track of the costs that they incur in the production process. The techniques are mainly for internal use apart from absorption costing which is … Read More»

The Threat Of Djc To American Connector Company Accounting Essay

DJC, who built in Japan the most efficient connector plant of the world, is planning to build its first connector plant in the United States. It can utilise its highly efficient manufacturing process and supplying electrical connectors at a lower cost thereby causing a serious threat to ACC’s market share. In this report, we have … Read More»

Internal Control Over Fixed Assets Accounting Essay

Maintaining control over plant and equipment: subsidiary ledgers Unless internal controls over plant and equipment are carefully designed many units of equipment are likely to be broken, discarded or stolen without any entry being made in the accounting records for their disposal. The assets accounts will then be overstated and depreciation programs for such missing … Read More»

Content Of Professional Ethics For Accountants Accounting Essay

Introduction Code of professional conduct for accountants, is the basic content of professional ethics for accountants, which the accountants should follow in the occupation activity and is used to adjust the behavior of accountants. Along with the economic development, the behavior standards, the working types and the social environment has had the change largely. Meanwhile, … Read More»

Importance Of Profit And Loss Account Accounting Essay

The Profit and Loss Account is a Financial Statement which summarizes a company’s revenue and expenditure for a specific period of time, usually prepared annually or quarterly. These statements provide information that shows the ability of a company to generate profits by increasing its revenues and reducing costs. The Profit and Loss Account is also … Read More»

The Published Financial Statement Accounting Essay

Annual report and accounts consists of different elements. A financial statement contains the financial information which is communicated to various users depending on their needs. The users can be internal or external users. The importance of this information varies, depending on the needs of specific users but according to the framework, the publication of financial … Read More»

Examining The Relationship Between Accounting And Finance Accounting Essay

Accounting is the methodical or precise recording, reporting, and assessment of financial deals and transactions of a business. Accounting also involves the preparation of statements or declarations concerning assets, liabilities, and outcomes of operations of a business CIMA defines Management Accounting as the process of identification, measurement, calculation, analysis, preparation, interpretation and communication of information … Read More»

Examining the impact of the Enron Corporate Scandal

Enron is an energy-based company in Houston, Texas that deals with the energy trade on international and domestic based. Enron Corp. Is one of the world’s largest energy, commodities and Services Company was created out of merger of two major gas pipe line in 1985. Enron was created by merge between Houston Natural Gas and … Read More»

Grays framework is an extension of Hofstedes societal values

Culture is said to be an identifying mark of any group of persons. The impact of this identifying mark is felt in everything that is done in that environment such that it is reflected in their daily and operational activities. In explaining the impact of culture on activities, Hofstede (1980: 26) defined culture as the … Read More»

Study on Is Accounting Profession under Threat

Recent events in global financial world that is dissolution of companies due to continuous losses has made people to question the efficiency and honesty of the professional accountants in discharging their duties for the interest of public and society. These events have forced global financial scholars and experts to think about the future scope of … Read More»

The career choice

INTRODUCTION   Career choice is a complex phenomenon that can be better appreciated through a study of its key components, i.e. career and choice (Webster’s Dictionary, 1998). Dating back to the seminal works of Hughes (1937) and Goffman (1968), career has been the focus of many studies. However, the contemporary formulations of the concept by … Read More»

The purpose of Corporate social responsibility

Corporate social responsibility (CSR) covers the responsibilities corporations have to the societies within which they are based and operate. More specifically, CSR involves a business identifying its stakeholder groups and incorporating their needs and values within the strategic and day-to-day decision-making process. Therefore, a business’ ‘society’ within which it operates, which defines the number of … Read More»

Limitation of Ratio Analysis

Limitation of Ratio Analysis Learning Objective Explain to the participants on the limitation of ratio analysis. Important Terms Creative accounting. Accounting Policies. As we have alredy discussed, it is important to compare in order to be able to analyse and to be able to comment and subsequently recommend in order that a business is as … Read More»

Window Dressing Of Financial Account Is Fraudulent Accounting Essay

According to Wikipedia Online “accounting is the art of communicating financial information about a business entity to users such as shareholders and managers”. The Law of commerce states that business organisation must objectively record the accounts of the business organisation. These laws also state accounts must be clear and represent a fair and true record … Read More»

The advantages and disadvantages of traditional Absorption costing techniques

Introduction Through the years when it comes to planning Managers has developed techniques and methods of forecasting future costs. One of such methods is Absorption costing and activity based costing (ABC) What is Absorption costing? Absorption costing is the traditional method of costing and stock evaluation, having been developed around the 1870s to 1920s is … Read More»

The influence of culture on accounting

Introduction 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 al, also … Read More»

The two approaches of accounting research

The positivist approach and the critical approach are the two approaches of accounting research. This article explains the concepts of positivist approach and critical approach, and then explains some of the problems of these two approaches. This article discusses the inter-relationship between accounting research, accounting standards and accounting practice. Through the research findings, this article … Read More»

Explain Meaning Of Ethics In A Business Context Accounting Essay

It’s simply says that ethics are the attitude of individuals or groups in deciding the wrong and right decisions with ethical or polite behaviour. The term ”Business ethics” has a same meanings that I discussed in ethics introduction. On very basic terminology ”Business Ethics” defines as follows: ”Business ethics boils down to know the difference … Read More»

The formation and objectives of the IFAC

IFAC the (international federation of accountants) is a non – governmental and a global organization for accountancy professional, formed in 1977 in Munich -Germany at the 11th world congress of accountants’. Currently there are 164member bodies in 125 countries and jurisdictions, representing over 2.5 million accountants. Source: Q FINANCE – The complex world of international … Read More»

The advantages and disadvantages of budget setting

Direct costs, indirect costs and overhead: Direct costs: those cost that can be directly traced to producing specific goods or services. For example, the cost of leather in making bags can be attributed directly to the cost of manufacturing these products. Depreciation and administrative expenses, are more difficult to assign to specific products, and so … Read More»

The North Face Inc Accounting Essay

Financial accountants and independent auditors commonly face challenging technical and ethical dilemmas while carrying out their professional responsibilities. This case profiles an accounting and financial reporting fraud orchestrated by the chief financial officer (CFO) of a major public company and his subordinates. The CFO, who was a CPA, took extreme measures to conceal the fraud … Read More»

Analysis of the International Accounting Standards on Inventory

This eassy mainly introduced the information about the International Accounting standards of Inventory(IAS 2). First, we introduced the background of the IAS 2; then we discussed the major requirements of the standards and the importance of these requirements; after that we critically evaluate the IAS 2. Background The IASs, International Accounting Standards, which issued with … Read More»

The Legitimacy Theory And CSR Disclosure Accounting Essay

The issue of corporate social responsibility has got a lot of attention in the business and political world since the early 1990’s and the major reason behind this was corporate scandals. Organizations had started to realize that the basis on which they were achieving economic growth was unsustainable and hence there was a need to … Read More»

The Role of External Auditor in Corporate Governance

External Auditors check company’s accounts and report to the company based on the accounts. Basically, the concern is how external auditors conduct these duties effectively. Legislations, such as The Companies Act 1965, have made great efforts to ensure external auditors conduct their duties and obligations effectively. The Code of Corporate Governance in 2001 and the … Read More»

Sainsburys corporate governance and information disclosure

This paper attempts to demonstrate the annual report of Sainsbury from its corporate governance aspects and evaluate the information provided in the annual report from 5 parts: the main corporate governance mechanisms, the ownership structure, the audit report, the audit committee, and the voluntary disclosures. 2.0 corporate governance mechanisms The chairman of the Board is … Read More»

Comparison Of Financial And Management Accounting Accounting Essay

Introduction Financial accounting and management accounting play an important part in accounting information system .They co-exist in enterprise production and operation of management, constituting the modern enterprise accounting system together. Much information which management accounting required is from financial accounting, while financial accounting also put the established budget, standards organizations, and such daily accounting data … Read More»

Just In Time Benefits For Mcdonalds Accounting Essay

McDonalds uses JIT system in which it doesn’t begin to cook (reheat and assemble) its orders until the order is being placed.Initially it used to preheat a batch of hamburgers and let them be under heat lamps for as long as possible.And eventually the burgers that were not sold were discarded.A special order had to … Read More»

Problems In Traditional Costing System Accounting Essay

Traditional costing systems had been used for decades by organizations in making important decisions and there is not much change in the management accounting techniques since the 1920′. From the book published by Johnson and Kaplan in 1987, they stated that from 1920 to the mid 1980’s, there were no new innovation in management accounting … Read More»

A Budgetary Control Systems Accounting Essay

I have re-read my last years HNC paperwork and used my current years HND paperwork to help with the various aspects of the report. I used my HNC costing booklets and lecture notes, HND Investment Appraisal literature, HND Business Tax literature, HND Capital Allowances literature and HNC Standard Costing literature. I went to the library … Read More»

Financial Accounting Subjective Not Objective Accounting Essay

Financial accounting can be defined as a process of designing and operating an information system for collecting, information in order to make financial decisions. (Andrew Thomas 2009). It is said to collect accurate financial data and other financial information, and to accumulate and combine it in an organized and systematic way, according to the principles … Read More»

Why We Need Accounting Standards Accounting Essay

This essay talks about Accounting Standards which is important in financial. And it is interesting topic which discusses identified accounting standards which is important to each company. And it is analysis different things which relate with Accounting Standards as: International Accounting Standards (IAS), Accounting Standards Board (ASB), why we need accounting standards? , different accounting … Read More»

The Concept Of Internal Audit Accounting Essay

Internal auditing, it is not a new term for the world of organization. The concept of internal audit is old like 5000 years, at that time people of civilized communities which were economically and politically stable used this approach to check effectiveness of their taxes and businesses so they can check errors and safe the … Read More»

The Importance Of Costs In The Pricing Strategy Accounting Essay

It is very important for companies to have a good pricing strategy as it than permits them to earn good profit margin on its product or services and at the same time making it appealing to the customers. Pricing strategies are very important part of business and different organisation spend large sum of money and … Read More»

Audit Process of Computer Company

Introduction Internal auditing is a consulting activity on a company that is independent. It aims at helping a company/ form evaluate its managerial system, identify issues in the firm and control the process of governance. Therefore an internal audit helps in supporting the board in their duties of completing important businesses in the company. The … Read More»

Foreign Corrupt Practices Act (FCPA) and Teva Pharmaceutical

and do not necessarily reflect the views of UK Essays. 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 … Read More»

Prevention of Fraud and Mismanagement Policy

and do not necessarily reflect the views of UK Essays. 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 … Read More»

Investment Report on Qantas Airlines

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, … Read More»

Factors in Inventorial Costs

 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 … Read More»

JB Hi-FI Corporate Social Responsibility

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 … Read More»

Hanjin Bankruptcy Causes

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 … Read More»

Director Networks and Stock Price Cash Risks

and do not necessarily reflect the views of UK Essays. Introduction A sprouting issue in corporate governance and the business world is the concept of executive network. Recent accounting and finance literature use social network theory to explain various corporate behaviors and practices steaming from information, resources exchange and relationship building. The correlation between executive network and … Read More»

Enron Accounting Scandal

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 … Read More»

Case Study – Skullcraft and ERP

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 … Read More»

Internal Auditing Case Study

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 appetites designed by department managers Having senior managements or control groups review … Read More»

Accounting Rules and Joint Ventures in Europe

and do not necessarily reflect the views of UK Essays. 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 … Read More»

Accounting Conservatism and Risk Taking Decisions

and do not necessarily reflect the views of UK Essays. 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 … Read More»

Accounting for Borrowing Costs

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 … Read More»

Accounting Software System of Hospital

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 … Read More»

Cost and Performance Management

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 … Read More»

International Accounting Standards

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 … Read More»

Taxation in the UK and Bangladesh

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 … Read More»

Internal Auditing Systems in Detecting Fraud

and do not necessarily reflect the views of UK Essays. 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 … Read More»

Stock Market Shocks

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 … Read More»

Importance of ‘True and Fair" View of Financial Statements

and do not necessarily reflect the views of UK Essays. 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 … Read More»

The background and role of inventory in accounting

and do not necessarily reflect the views of UK Essays. 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 … Read More»

Effects of Changing Accounting Standards

Proposed Research Topic: IAS 39 and IFRS 9: the effects of changing accounting standards for financial instruments on the financial assets management of a commercial bank in Chong qing Background: In 2008, a catastrophic financial crisis ignited by the bankruptcy of Lehman Brothers Holdings soon had a full scale break-out and dragged the world from prosperous … Read More»

Earnings Management and Accrual Accounting

and do not necessarily reflect the views of UK Essays. EARNINGS MANAGEMENT Introduction There has been significant attention placed on earnings management from regulators, the financial press, and academic researchers in recent years. Most are in agreement that earnings management does occur; however, there is no uniform definition for what it is or how to … Read More»

Product Costing System Types: An Analysis

Introduction Management accounting as defined by Chartered institute of Management Accountants as “the process of identification, measurement, accumulation, analysis, preparation, interpretation and communication of information used by the management to plan, evaluate and control within an entity and to assure appropriate use of and accountability for its resources.” It supports the managers in their task … Read More»

Managing Customer Relationships and Building Loyalty

and do not necessarily reflect the views of UK Essays. CRM This component will focus on managing customer relationships with the organization in order to enhance customer loyalty. Moreover, it will also discuss on the aspects of the virtual world and the strategy which will be implemented to use YouTube as a vehicle to communicate … Read More»

Auditing Standards and Guidelines

Introduction The regulatory environment makes it mandatory that organizations such as limited liability companies must be audited by an independent external auditor qualified under the regulations of professional bodies internationally or nationally to ensure that the company is working in accordance to the company law set by respective countries. An external auditor functions as an … Read More»

Pay As You Earn (PAYE) System: Advantages and Disadvantages

and do not necessarily reflect the views of UK Essays. PAYE (Pay as you earn) was first introduced in year 1944. This is a system used by HMRC (HM Revenue & Customs) to collect Income Tax and NICs (National Insurance contributions) from employees’ pay, including directors of limited companies, as they earn it. OPERATION OF … Read More»

Impact of Financial Reporting Scandals

Introduction The first thing is character, before money or anything else. – J. P. Morgan 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 … Read More»

Methods Used to Evaluate Investment Projects

and do not necessarily reflect the views of UK Essays. Evaluation of the attractiveness of an investment proposal, using methods such as average rate of return, internal rate of return (IRR), net present value (NPV), or payback period. Investment appraisal is an integral part of capital budgeting (see capital budget), and is applicable to areas … Read More»

Accounting Audit: Case Study

The inventory valuation is done on cost basis, while the NRV (Net realizable value) is 10% below the cost. As per the accounting standards in Australia governed by the AASB, the inventory valuation is done based on the basis of lower of cost or realizable value, whichever is lower, which is as per the guidelines … Read More»

Impact of the Enron Scandal on Accounting Standards

and do not necessarily reflect the views of UK Essays. Abstract Every firm and its managers are expected to maximize investor returns while complying with regulatory standards, avoiding principal-agent conflicts of interest, and enhancing the reputational capital of their firms. However, in practices, being ethically is not just about giving large sum of charity’s money … Read More»

Analysis of Conceptual Frameworks in Accounting

and do not necessarily reflect the views of UK Essays. Introduction International Accounting Standards Board (IASB) has begun a mutual project with US Financial Accounting Standards Board (FASB) to rebuild the existing frameworks and converge them into a common framework. First, some background. The US Securities and Exchange Commission (SEC) has proposed that companies required … Read More»

Budgetary Control- Advantages and Disadvantages

and do not necessarily reflect the views of UK Essays. Budget and budgetary control are the two most important aspects of any business. The budgetary control acts as a complimentary aspect to budget and works and in hand. Budget can e termed as an accounting concept, whereby, an organization and its members, try to define … Read More»

British Airways: SWOT and Porter's Five Analysis

and do not necessarily reflect the views of UK Essays. Before establishing an analysis of the financial performance of British Airways, and stating the main reasons as to why this organization has been chosen as the proposed case study of this report, the most predominant issue at hand is to define ‘financial’ and ‘business’ performance. … Read More»

Revenue Recognition under US GAAP and IFRS

and do not necessarily reflect the views of UK Essays. International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) are working together to provide a single revenue recognition model that can be applied to a wide range of industries and transaction types. US GAAP currently has many industry-specific requirements that are not always … Read More»

Marginal Costing vs Absorption Costing:

Marginal costing is also termed as variable costing, a technique of costing which includes only variable manufacturing costs, in the form of direct materials, direct labour, and variable manufacturing overheads while determining the cost per unit of a product. Where as Absorption costing, is a costing technique that includes all manufacturing costs, in the form … Read More»

Importance of Maximising Shareholders Wealth

and do not necessarily reflect the views of UK Essays. Introduction Firms may have different objectives to achieve. However in theory, a firm should set its’ objectives to increase its value for its owners. Shareholders are the owners of a firm. Therefore according to theory maximising shareholders wealth is the fundamental objective of a firm. … Read More»

IFAC's Code of Ethics: Analysis

Code of Ethics is essential for both accountants and auditors as they hold positions of expectation that the community rely on them and the capability. The Code of Ethics is regulated by International Federation of Accountants (IFAC) at international level. Due to the company failures such as Enron and Equitable life, ethical behavior and independence … Read More»

Objectives of Standard Costing

What is the definition of standard costing? Standard costing is the system of using standard costs. Standard costing involves using the predetermined costs/standard costs to compare with the actual to find the difference or variance. Variance can be adverse (actual result is worse than standard) or favorable (actual result is better than standard). An adverse … Read More»

Dangers of Escalation of Commitment

This report analyses the issue of escalation of commitment to a course of action from the perspective of the pharmaceutical industry. Escalation can be defined as a situation where a failing venture is supplied with additional resources beyond the point of feasibility. As such, escalation carries substantial dangers for organisations by generating avoidable economic losses. … Read More»

Costing and ABC Costing Advantages and Disadvantages

and do not necessarily reflect the views of UK Essays. Activity Based Costing which is popularly known as ABC system has been considered as “an economic map of an organization’s expenses and profitability based on organizational activities” according to Kaplan R; and Cooper R. “An activity is an event, task or unit of work with … Read More»

Traditional Costing Methods vs ABC

In this report I will attempt to discover whether it is feasible as a company to change the Traditional methods of costing we currently use to the more modern Activity Based Costing methods, looking at the benefits and drawbacks of changing and whether it is worth implementing these new costing methods to our company as … Read More»

Sarbanes-Oxley Act: Advantages and Disadvantages

and do not necessarily reflect the views of UK Essays. Discuss the strengths and weaknesses of the Sarbanes-Oxley (SOX) Act and describe how an IT department can meet the challenge of implementing SOX compliance Over the past ten years we have been exposed to a series of financial scandals. The effect has been catastrophic and … Read More»

Non-Audit Services (NAS) Issues and Effects

The provision of Non-Audit Services (NAS) by auditors to their audit clients reduces total costs, increases technical competence and motivates more intense competition. However, the recent corporate collapses in the US, Australia and elsewhere, was surprising our attention. The issue of Enron arouses great concerns on corporate governance revealing the audit independence problem when CPAs … Read More»

FASB's Conceptual Framework Analysis

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 … Read More»

Colombia: Accounting and Auditing Standards Analysis

Columbian GAAP According to the Constitution of Colombia, only Congress has the authority to issue generally accepted accounting principles. Through legislation, however, Congress can delegate this authority to the executive branch as well as to other institutions. The Central Board of Accountancy was formed to regulate the accounting profession (“Colombia”, 2010). Under this board, the … Read More»

Product Costing Methods: Strengths and Weaknesses

Today’s competitive environment requires manufacturers to know their costs for competing globally. A top notch costing system is one of the most powerful information tools a management can have; especially which provide a clear picture of the activities that are driving costs and the ways individual products and processes consumes resource. We can use costs … Read More»

Why is Accounting Important in the Hospitality Industry?

Broadly speaking, the process of financial management takes place at two levels. At the individual level, financial management involves tailoring expenses according to the financial resources of an individual. Individuals with surplus cash or access to funding invest their money to make up for the impact of taxation and inflation. Else, they spend it on … Read More»

Absorption Costing Advantages and Disadvantages

There are two main costing methods that this company can use, absorption costing and Activity based costing. Absorption costing and Activity based costing (ABC) are two similar systems that are used to assign indirect costs to cost objects. Absorption costing is also called ‘traditional costing’; it is more simplistic and uses arbitrary allocation. On the … Read More»

Difference Between Cost Control and Cost Reduction

Introduction A cost reduction program is a type of method which is to improve profitability of the organization or by expected to get a good result that flow to the bottom line of the financial statement and exempted from any serious damage to the organization itself. As this program is much more about reducing cost … Read More»

Traditional Budgeting and Budgetary Controls Weaknesses

This answer briefs the practice of budgets in two entirely different businesses; one in a very stable and static market place and the other in a very dynamic, rapidly changing, innovative environment. Budgeting and budgetary control is commonly used in a traditional manner by most business entities in the world in spite of its manifold … Read More»

Effectiveness of Internal Controls Over Financial Reporting

1. Introduction In 2001, Enron reaffirmed that their previous financial report had to revise as accounting errors existed in their computer system. After that, Enron the largest US corporate with assets of $63.4 billion faced the end road of bankruptcy suddenly. Four thousand employees face losing theirs job and retirement pays (Benston, 2002). It is … Read More»

Critical Accounting and Significant Accounting Policies

After Enron’s scandal, accounting world underwent dramatic changes. Lots of acts were proposed or released. On May 10, 2002, the Securities and Exchange Commission (which is SEC) proposed a document, that “Disclosure in Management’s Discussion and Analysis about the Application of Critical Accounting Policies”. One year later, SEC released final rule No.72, “Interpretation: Commission Guidance … Read More»

Accounting Student Internship Report

Chio Lim Stone Forest (CLSF) was founded in 1985 and it started from a textile centre in Jalan Sultan to the present Wilkie Edge in Sophia road. CLSF is a member of RSM International, the 6th largest accounting and consulting firms worldwide, with 736 offices in 76 offices. Member groups in RSM International unite together … Read More»

Target costing & life cycle costing systems

This essay was produced by one of our professional writers as a learning aid to help you with your studies Target Costing & Lifecycle Costing Systems Comparison Letscommunicate Ltd Introduction Letscommunicate Ltd produces mobile phones for sale in supermarkets. In today’s competitive market of mobile phones with short product life cycles, it is important for … Read More»

Management Accounting Systems Essay

This essay was produced by one of our professional writers as a learning aid to help you with your studies Management Accounting Systems Essay Executive Summary The company’s profits are falling and there is a build-up of inventory within the production process. This report considers three management systems which could rectify the situation. Considering theory … Read More»

Archer’s Organic Foods Plc Investment appraisal

This essay was produced by one of our professional writers as a learning aid to help you with your studies Archer’s Organic Foods plc – Investment appraisals of two farms I. Introduction Archer’s Organic Foods plc is a producer and distributor of organic foods. The company is looking to expand the business by acquiring a … Read More»

Caterpillars International Strategy

This essay was produced by one of our professional writers as a learning aid to help you with your studies Example Accounting Essay Caterpillar’s International Strategy The domain of international business theory contains an overwhelming array of perspectives and dimensions. International business (IB) definitions and assumptions are as diverse and ambiguous as their sources. Approaches … Read More»

An Impairment Loss Is Deemed To Have Occurred

This essay was produced by one of our professional writers as a learning aid to help you with your studies Critically appraise the circumstances where an impairment loss is deemed to have occurred Introduction IAS 36 Impairment of assets published in 1998 and subsequently amended in 2004 and in 2008, seeks to ensure that an … Read More»

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