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Accounting - Accounting On September 28, 1998, Chairman of the U.S. Securities and Exchange Commission Arthur Levitt sounded the call to arms in the financial community. Levitt asked for, "immediate and coordinated action… to assure credibility and transparency" of financial reporting. Levitt’s speech emphasized the importance of clear financial reporting to those gathered at New York University. Reporting which has bowed to the pressures and tricks of earnings management. Levitt specifically addresses five of the most popular tricks used by firms to smooth earnings....   [tags: Accounting Finances Money Essays]
:: 15 Works Cited
2347 words
(6.7 pages)
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Accounting - According to the Generally Accepted Accounting Principles, T-Shirts by Tommy can account for the accident is to record an extraordinary item. Using the definition from our Intermediate Accounting textbook, extraordinary events are defined as, "…events and transactions that are distinguished by their unusual nature and by the infrequency of their occurrence" (Keiso). Because of the nature of the plane crash, and the fact that these types of accidents happen very rarely, it can definitely be categorized as extraordinary....   [tags: Business Analysis Accounting Finance] 1607 words
(4.6 pages)
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Managerial Accounting - Simply stated, the financial accountant is the number cruncher while the managerial accountant is the analyzer. However, it is not that simple. Most experts are fairly consistent with their definitions of what the financial accounting entails, however, defining managerial accounting appears to be opinion dependent. As the population of the occupation grows so does the defined responsibilities involved. The general consensus of financial accounting is that it reports past results using historical-cost accounting....   [tags: Financial Accounting] 1355 words
(3.9 pages)
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Technology In Accounting - Technology is on a fast track and progresses in some fields take place on a daily basis. This does not exclude the accounting sector, where things are not as simple as keeping books to show profit, loss and the balance in the bank. Financial accounting systems have evolved rapidly over the past decade as companies grapple with the challenges of compressed business cycles, rising customer demand and a globalized, expanding customer base. The accounting community is a highly competitive one and in combination with technology things are changing in a very fast pace....   [tags: Business Accounting] 715 words
(2 pages)
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Management Accounting - MANAGEMENT ACCOUNTING SYSTEM DESIGN TYPES OF ACCOUNTING INFORMATION 1. FINANCIAL ACCOUNTING INFORMATION • prepared in accordance with generally accepted accounting principles (GAAP) and reported to shareholders and other interested outside parties. • it is built around the single basic equation Assets=Liabilities+Owners’ Equity. 2. MANAGEMENT ACCOUNTING INFORMATION • has three principal purposes, each of which requires a different cost construct. THREE PURPOSES OF MANAGEMENT ACCOUNTING: 1. MEASUREMENT • Cost is a measurement, in monetary terms, of the amount of resources used for some purpose, called a cost object....   [tags: Business Accounting] 1128 words
(3.2 pages)
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The Accounting Cycle - The Accounting Cycle The accounting cycle consists of the following ten steps: 1. Analyze and classify events. 2. Journalizing the event. 3. Posting to the ledger. 4. Taking an unadjusted trial balance. 5. Making adjusting entries. 6. Taking an adjusted trial balance. 7. Prepare financial statements. 8. Complete closing entries and post to the ledger. 9. Take an after closing trial balance. 10. If needed, do reversing entries and post to the ledger. This paper will discuss these steps in detail....   [tags: Business Accounting] 977 words
(2.8 pages)
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Financial Accounting - Accounting - It is the process of identifying, recording and summarizing economic data about the organization and reporting it to decision makers. Financial Accounting - It serves external decision makers such as Stockholders, suppliers, banks, and government agencies Management Accounting – It serves internal decision makers, such as top executives, department heads, college deans, and other people at management levels within the organization. Questions on Financial situation about the company: A) What is the financial picture of the organization on a given day....   [tags: Business Accounting] 1010 words
(2.9 pages)
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Overview Of Accounting - Introduction This test is about an informational presentation to a group of small business owners with no accounting or financial knowledge. It is a report that identify the audiences, purposes, and natures of financial statements and managerial reports. In addition, it will explain the use of financial accounting information in making informed and ethical business decisions. Audiences, Purposes, and Natures of Financial Statements Prior to decide the audience, purpose, and natures of financial statement, it becomes necessary the definition of the words....   [tags: Business Accounting] 1014 words
(2.9 pages)
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Deceptive Accounting - Deceptive Accounting 1.Describe the legal and ethical issues surrounding Andersen’s auditing of companies accused of accounting improprieties. In this case study, in my opinion, the causes of that the Andersen’s auditing of companies accused of accounting improprieties, it’s has a main factor. Because Athur Andersen do not think about the company who is to cooperate whit it is like Athur Andersen to make deceptive accounting. These four real cases to show us how they operate the deceptive accounting....   [tags: Finance Accounting Case Analysis] 1331 words
(3.8 pages)
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Cost Accounting - Letter of Transmittal Audit & EDP Accounting Institute of Business Management Karachi Dear Sir, As per your instructions, I am hereby submitting my first report on the required topic. The report shall continue containing all the essential elements and required information which were listed briefly by you in the class. Although the task was relatively easier for me as the chosen company had its Branch Manager, a very close relative to me. I have put our whole efforts in making this report, and I am fully satisfied with it....   [tags: Business analysis accounting] 1501 words
(4.3 pages)
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Mangerial And Financial Accounting Report - Managerial and Financial Accounting Report The role of managerial accounting is increasing. These managers have to be able to increase effectively the involvement and size of organizations. These business managers also have to be aware of the rapid growth and enactment of technology. Managers also have to be familiar with the regulatory environment, be able to contend successfully globally and have an increase importance on excellence. When examining the major differences between financial and managerial accounting, we find that with financial accounting the information is reported in statements....   [tags: Business Accounting]
:: 8 Works Cited
1129 words
(3.2 pages)
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Accounting For Income Taxes - According to Accounting Theory: Contemporary Accounting Issues by Evans, accountants have developed two alternative approaches to accounting for income taxes, which are the cash method and the allocation method. The cash method is described as a simple and direct approach. The amount of income taxes actually paid for the year is reported on the Income Statement. The amount comes from the firm's income tax return and fit is not adjusted in any way. Therefore, the firm's actual transaction to record its income tax liability is the basis for the amount of the income tax expense reported on the Income Statement....   [tags: Tax Accounting] 1914 words
(5.5 pages)
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What Is Accounting Goodwill - WHAT IS GOODWILL. The main method used by businesses to classify assets is to split them into tangible assets, which have a separate existence from the business (examples of which would include buildings, land and machinery), and intangibles which do not. Some clear examples of intangibles include goodwill, patents, research and development expenditure and trademarks. Intangible assets are usually created within the organisation over a period of time, by the company itself, rather than acquired from an external source and are rarely sold off individually – they can normally only be sold in conjunction with associated tangible assets....   [tags: Business Accounting] 1302 words
(3.7 pages)
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Tax Law And Accounting - Tax Law and Accounting Every person, organization, company, or non-profit is subject to the income tax. Income tax refers to those taxes imposed on any money earned during a calendar year. The government taxes our income so it can have enough money to pay for the things we all need. In order to comply with tax laws and regulations, a good understanding of the Federal tax law, its sources and purposes, and the relation with the accounting profession must be achieved. Congress and the President of the United States are responsible for writing and approving the tax laws....   [tags: Tax Accounting] 1249 words
(3.6 pages)
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Users Of Accounting Information - Lenders have no use for the Income statement and the Balance sheet with information relating to past transactions or events for making decisions unless they are accurate. The Balance sheet is a “statement at one point in time, which shows all the resources controlled by the entity and all the obligations due by the entity.” (Bazely, 2007, p90) Hence it merely provides an outline of the financial strength and asset liquidity of an entity. The Income statement “summarizes certain transactions that take place during a period of time.” (Bazely, 2007, p125) Hence the income statement provides some of the basic financial information for rational decisions to be made....   [tags: Finance Accounting] 983 words
(2.8 pages)
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Accounting Regulatory Bodies Paper - Accounting Regulatory Bodies Paper Introduction The success of a company is very dependent upon its financial accounting. In accounting there are numerous Regulatory bodies that govern the accounting world. These companies are extremely important to a company because they set the standards when it comes to the language and decision making of a company. These regulatory bodies can be structured as agencies, associations, commissions, and boards. Without companies like the Security and Exchange Commission (SEC), The Financial Accounting Standards Board (FASB), the Governmental Accounting Standards Board (GASB), Internal Accounting Standards Board (IASB), Internal Revenue Service (IRS), and ot...   [tags: Monitoring Regulation Accounting] 721 words
(2.1 pages)
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Accounting Article Analysis - Accounting Article Analysis One of the foremost problems facing the accounting profession today is the loss of respect that faces accountants in light of recent accounting scandals. In order to regain lost respect in the accounting profession an accountant must have integrity and ethics that are above and beyond the norm. This fact is true whether the accountant works for a business entity or for a government entity. In either situation the accountant is responsible for remaining steadfast, not only in professional behavior, but in personal behavior as well....   [tags: Business Accounting Ethics] 372 words
(1.1 pages)
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Tax Law And Accounting - Tax Law and Accounting Income tax is a part of the fiscal policy of our economy. The first federal income tax was imposed by Congress in 1862, to finance the waging of the Civil War. The Civil War income tax was repealed in 1872, but a new income tax was enacted as part of the 1894 Tariff Act. However, the Supreme Court struck down the income tax in 1895. It ruled that the portion of the income tax that applied to income on property was a direct tax that, under the United States Constitution, could not be levied without apportioning the tax by population....   [tags: Tax Accounting Financial Finance] 1174 words
(3.4 pages)
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Accruals Concept in Finance and Accounting - Accruals concept is the concept that attempt to correctly match all the accounting expenses (cost) to the income (revenues) to the year at which it occurs at that accounting period, thus referred to as accrued expenses. Whilst a going concern is an assumption that every business will continue in operation for the anticipated future, thus is a going concern for several years, unless if there is evidence i.e. owner acknowledgement. In the Introduction to Accounting Book by Marriott, Edwards& Mellett 3rd Edition it states, “The going concern concept assumes that the business is a permanent venture and will not wound up in the foreseeable future” However, problems might arise in companies applyi...   [tags: Business Finance Accounting] 1306 words
(3.7 pages)
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The Role of Financial Accounting in Business - This paper is meant to give an informative view on how financial accounting is used to help small and large businesses make positive and safe financial decisions. It is designed to help small business owners without a vast knowledge or understanding of accounting or of financial reports achieves maximum growth. We will examine the importance of financial reports as well as being able to account for a company’s assets and spending. Through proper accounting and reporting companies have a better way of assimilating what areas can be improved by comparing the reports of prior years and evaluating the differences in what was done then and now....   [tags: Business Management Accounting] 718 words
(2.1 pages)
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Financial Accounting Statement FAS 142 - Financial Accounting Statement 142 Intangible assets are an increasingly important economic resource for many businesses. Intangible assets have also become a greater portion of assets gained in an acquisition or business combination. Therefore, more useful information about intangible assets is needed for both those involved in the transaction and potential investors in the public community. Statement 142 replaces Accounting Principles Board (APB) Opinion No. 17, Intangible Assets in order to produce better information on which the public can rely....   [tags: Business Accounting] 1752 words
(5 pages)
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Accounting - National Mortgage News, 2005. 1-9. This article presents information related to a corporate survey of chief financial officers that find that the job market looks bright in the finance, insurance, and real estate industry. Carey III, Addison. “Accounting: What's the Real World of Accounting Like?”. 3rd ed. Vol. 35. Black Collegian , 2005. 31. This book focuses on several types of accounting careers in the US areas of accounting. This book also contains a list of major accounting firms in the country....   [tags: Free Essay Writer] 456 words
(1.3 pages)
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Accounting - Accounting Accounting Project BAC 3AA Profile of an Accounting Department My interview with the accountant of Robin Hood Multifoods Inc. was one of the greatest interviews I have ever experienced. The person whom I interviewed was Mr. Jeff R. Scott. Jeff was a really nice person when I asked him questions. His desk was not as organized as I thought, because accountants are really organized. The reason is because he just got promoted from assistant controller to controller. As I asked him more and more questions, the answers that came back at me were pretty interesting....   [tags: GCSE Business Marketing Coursework] 368 words
(1.1 pages)
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Accounting - When most people go to college they think of what major would be the most interesting, and most exciting. However there are a few brave souls who want to be bored out of their mind but learn the language of business. For those few the major of accounting calls to them. Those men and women who choose accounting as their major will spend many semesters trying to figure out what the hell the professors are talking about when they go into managing and valuing inventories for companies. This one area of accounting is one of the most important parts to understand, because of the vast amounts of money companies have raped up in inventories....   [tags: essays research papers] 395 words
(1.1 pages)
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Accounting - I - A. “ Representational faithfulness is accomplished when transactions and events affecting the entity are presented in financial statements in a manner that is in agreement with the actual underlying transactions and events” (CICA, Financial statement Concepts 1000.21 (a), 2003). It means that all of information in the financial statement such as numbers and descriptions must be factual. The independent auditors checked the computer ID tags on each piece of equipment to confirm the actual numbers, and for that reason Byrn Company observes the representational faithfulness that is one of subsets of reliability....   [tags: Free Essay Writer] 1036 words
(3 pages)
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Accounting Case Study on General Mills - Accounting Case Study on General Mills Financial Accounting Case Study Module 1: A. General Mills Consolidated Statements of Earnings: 1. The recorded sale amount of almost $8 billion is not the actual amount of cash collected. The amount of $8 billion includes cash and credit sales. 2. Sales increased each year from 2000 to 2002. The difference between the year 2000 and 2001 was a 5.35% increase (5,450-5,173/5,173 = .0535). The difference between the year 2001 and 2002 was a 45.85% increase (7,949-5,450/5,450 = .4585)....   [tags: Accounting General Mills Business Analysis] 1405 words
(4 pages)
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Governmental Accounting Standards Board 67 and 68 - As financial accounting has its set of rules, governmental accounting has its own. Governmental entities in preparing financial statements and related accounting report must follow the rules set by the Governmental Accounting Standards Boards (GASB). On June 25, 2012, in Norwalk, CT, the Governmental Accounting Standards Board has voted two new standards that will considerably change and develop the accounting and financial reporting of public employee pensions by state and local governments. The first one is Statement No....   [tags: Governmental Accounting Standards Board] 530 words
(1.5 pages)
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Financial Accounting - Just Data 2-1.A. Given: A=$95,000; L=$40,000 OE = 95,000 - $40,000 OE = $55,000 2-1 B. Given: A = $65,000; OE = $40,000 L = $65,000 - $40,000 L = $25,000 2-1 C. Given: Current Assets = $25,000; L = $40,000; OE = $55,000 Non-Current Assets = $95,000 - $25,000 Non-Current Assets = $70,000 2-1 D. Given: Current Ratio = 2.2:1; Current Asset = $33,000, Non-current Asset = $55,000; Liabilities = $15,000 Current Liabilities = Current Assets / Ratio Current Liabilities = $33,000/2.2 Current Liabilities = $15,000 OE = Total Assets - Total Liabilities OE = $88,000 - $15,000 OE = $73,000 2-1 E....   [tags: Business Accounting] 771 words
(2.2 pages)
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Accounting Analysis - The report focus on the financial statement analysis of Tick-Tock during 2005 to 2007.And at the same time provides the recommendation whether to purchase Tick-Tock for $275,000 or continue looking for another business. This financial statement has been divided into three segments: profitability, liquidity and financial stability .The first part is profitability which focuses on different aspect of return on investment & evaluating operating performance ratios. And the second segment concrete on the liquidity, as this ratio measures a company's ability to pay short-term obligations, the current ratio of 2007 shows that the firm has a good short-term financial strength to meet its current lia...   [tags: Accounting Finance Business] 1190 words
(3.4 pages)
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ACG 2021, Introduction to Financial Accounting, Spring 2001, Exam 3 Final - 2021FINALSP01 5/9/2001 FORM CODE: A Page 1 ACG 2021 – FINAL EXAM SPRING 2001 NAME _____________________________________ SS# ____________________________ Instructions: NOW: Bubble in your section number on your Scan Sheet. Fill in your name and social security number on this examination and your scan sheet. 1. Listen carefully for any comments your proctor may have related to the exam. Read these instructions carefully. Failure to do so may result in your losing points. 2. This exam consists of 60 multiple-choice questions....   [tags: UFL Florida Business Accounting] 4736 words
(13.5 pages)
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ACG 2021, Introduction to Financial Accounting, Fall 2000, Exam 1 - VERSION A Page 1 ACG 2021C EXAM 1 FALL 2000 NAME _____________________________________ SS# ____________________________ Instructions: NOW: Bubble in your section number on your Scan Sheet. Fill in your name and social security number on this examination and your scan sheet. 1. Listen carefully for any comments your proctor may have related to the exam. Read these instructions carefully. Failure to do so may result in your losing points. 2. This exam consists of 50 multiple-choice questions. Select the BEST answer and mark the appropriate space on the scan sheet with a #2 pencil only....   [tags: UFL Florida Business Accounting] 4021 words
(11.5 pages)
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ACG 2021, Introduction to Financial Accounting, Summer 2001, Exam 3 Final - 2021FNLSM01A 7/18/01 Page 1 ACG 2021 FINAL EXAM SUMMER 2001 NAME _____________________________________ SS# ____________________________ Instructions: NOW: Bubble in your section number on your Scan Sheet. Fill in your name and social security number on this examination and your scan sheet. 1. Listen carefully for any comments your proctor may have related to the exam. Read these instructions carefully. Failure to do so may result in your losing points. 2. This exam consists of 60 multiple-choice questions, each worth two points for a total of 120 points....   [tags: UFL Florida Business Accounting] 4689 words
(13.4 pages)
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Accounting In New Zealand - A number of legislative controls are available to shareholders wishing to exercise their rights. If it appears that the affairs of the company are not being conducted properly, shareholders have some options available to them and among which, the statutory remedy for shareholder oppression. It protects minority shareholders against being deprived of their fair share and greatly improves their ability to take action against the company alleged to be in breach of good corporate practices. The Courts have adopted a liberal approach in the interpretation of the oppression remedy following some leading common law cases and it is now the broadest of all the remedies available to minority sharehold...   [tags: Business Accounting] 1693 words
(4.8 pages)
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The Fair Presentation Requirements of International Accounting Standard 1 will Undermine the UK’s View of True and Fair - The Fair Presentation Requirements of International Accounting Standard 1 will Undermine the UK’s View of True and Fair During the last 20/30 years there has been an increase in trade and communication. It is easier for people to do business across the world as the new technology allows this to be possible. The problem with this is that different countries have different ways of accounting standards, and therefore there is a problem on how to account standards. Hence, during the last years the debate on whether to use Fair presentation or the True and fair View is becoming a major concern....   [tags: Business Accounting Standards] 1702 words
(4.9 pages)
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Tax Accounting Cases - 1. Deducting Cosmetic Surgery Issue: Can Ms. Gorgeous deduct the cost of her cosmetic surgery enhancements as a medical expense. Facts: Ms. Gorgeous is an aspiring actress who has managed to earn a living doing television commercials. Decided to have botox injections in her forehead and collagen enhancements to her lips to hopefully move up in the industry. After the procedures, her career drastically improved and she received movie offers. Statutory: Section 213(d)(9) classifies and treats cosmetic surgery as follows: (A) The term “medical care” does not include cosmetic surgery or other similar procedures, unless the surgery or procedure is necessary to ameliorate a deformity aris...   [tags: Taxes Tax Accounting ] 1865 words
(5.3 pages)
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Accounting Clerks - Accounting Clerks Accounting, bookkeeping, and auditing clerks are financial record-keepers. Their work is to update and maintain accounting records containing of receipts, accounts receivable, expenditures, and profit and loss. These clerks must possess a wide range of skills. The work of a bookkeeper is to maintain books in the company. Nature of Work Accounting, bookkeeping, and auditing clerks make a number of calculations every day and they must be comfortable using computers to compute and record data....   [tags: Career Description ] 946 words
(2.7 pages)
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Ethics and Accounting - Ethics and Accounting What's ethics got to do with accounting. Everything. Believe me, everything. When the word ethics is mentioned, what readily comes to mind is the question of deciding between doing what is right and doing what is wrong. But doing what is right versus doing what is wrong within what context. The idealist will say that decisions of ethics should not be conditional. But it is not as simple as it sounds, for what constitutes "right" to one person, may be "wrong" to another person....   [tags: Finance Business Accountant Accountancy]
:: 4 Works Cited
1220 words
(3.5 pages)
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An Accounting Problem - The annuities department was faced with an accounting problem. The current accounting system would be obsolete in a few years and our business customers are currently experiencing resource issues when problems arise and support for this system is required. Since financial reporting is a complex process, convoluted action was required to resolve this problem. The annuity technology group, along with the annuity business group came up with three possible solutions and conducted a high level requirements analysis and a cost benefit analysis to determine which solution to implement....   [tags: essays research papers] 1182 words
(3.4 pages)
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A Career in Accounting - Requirements and Job Opportunities in the Accounting Field Accounting is something I have wanted to do since I was a sophomore in high school. It requires a lot of education. One will have to take a CPA just to get his license. Lastly, an accountant’s job has a lot of varieties. Accounting is a great career that needs a good amount of education, a license, and has a vast amount of possibilities and temptations. An accountant’s education depends on which state he or she is trying to become an Certified Public Accountant in....   [tags: job oppportunities, public accountancy]
:: 8 Works Cited
963 words
(2.8 pages)
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AASB Accounting - Apply AASB 1001 to Report: The Financial Report 2004 of Coles Myer Ltd has proven that the company has obliged the Standard of AASB 1001 Accounting Policies. The report has satisfied relevance by Relevant financial information assisting users in making and evaluating decisions about the allocation of scarce resources(Statement of Financial Position-profit or loss). It assists them in making predictions about future situations and in forming expectations, or it plays a confirmatory role in respect of their past evaluations Financial information may be relevant because of its nature, itsnature and magnitude, or because of its magnitude in relation to its nature....   [tags: essays research papers] 486 words
(1.4 pages)
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Management Accounting - Management Accounting II FCB Bakery Shop Executive Summary FCB Bakery is a specialty food retailer. FCB uses a system that is similar to RotiBoy Bakery to provide Mexican buns in a fast and time-efficient way. FCB provides its customers the ability to order and buy the bun without waiting in long queue. FCB is offering cheaper offers to the RotiBoy. FCB offers its patrons the finest Mexican buns, specializing in specialty coffees flavors. In addition, FCB will ensure the patrons grab their freshly made buns straight on the spot without delay....   [tags: essays research papers] 2054 words
(5.9 pages)
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Accounting for a Restaurant - Accounting for a Restaurant Scenario I have just been assigned as the new system analyst at a restaurant called 'Venice' that specialises in Italian food. Up until now all the accountancy was done manually, so it took a lot of time to keep it up to date. To make it easier and more efficient I have been assigned to introduce a spreadsheet system to help calculate the annual profit the restaurant makes. This will save hours of paper work. The new method will save all finance information into a spreadsheet that can be easily accessed....   [tags: Papers] 3675 words
(10.5 pages)
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Management Accounting - Abstract The initial aim of this report is to layout the main differences of the client's current basis of overhead absorption, compared to activity - based costing (ABC). By showing the divergence of both systems, it appears that information generated from traditional overhead absorption does not properly equip client's management with suitable information for decision making. An additional aim of this paper focuses on the potential benefits of activity - based costing....   [tags: Papers] 2267 words
(6.5 pages)
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ACG 2021, Introduction to Financial Accounting, Fall 2000, Exam 2 Explanations - ACG 2021 Fall 2000 Exam 2 Answer Key Explanation Based on the Order of Version A 1) A defined contribution program is one with “Regular, defined contributions to the fund. The fund balance changes in value with the accumulation of contributions and earnings and is decreased by benefits paid. Benefits received depend on the fund balance available at retirement.” (9-21 in the notes on page 247) 2) This is an error because ordinary repairs (ones that do not increase the original useful life, efficiency or capacity of the asset) are to be treated as expenses and entirely reported on the income statement in the year they are incurred....   [tags: UFL Florida Business Accounting] 3849 words
(11 pages)
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Fasb Standard Developments - In 1929 the stock market crashed and along with it went public and investor confidence in the fairness of the securities markets. In response to this congress created the Securities and Exchange Commission (SEC) in 1934, which was given the authority to stipulate the methods to be used when compiling financial reports. Although the SEC was given this power, it turned to the private sector for the establishment of GAAP. Nonetheless, the SEC has remained active in the process, demonstrating its statutory authority to create accounting standards as it sees fit....   [tags: Accounting] 1509 words
(4.3 pages)
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Ethical Obligations in Accounting - Ethical standards have had vast changes over the years. Michael Josephson, in Chapter 1 of Ethical Issues in the Practice of Accounting, 1992, described the "Ten Universal Values." They were as follows: honesty, integrity, promise-keeping, fidelity, fairness, caring, respect for others, responsible citizenship, pursuit of excellence, and accountability. Good ethics does not always mean good business practices. The purpose of ethics in business is to direct business men and women to abide by a code of conduct that facilitates, if not encourages, public confidence in their products and services (Smith & Smith, 2003, 3)....   [tags: Business Ethics] 1243 words
(3.6 pages)
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Computerised accounting system. - Computerised accounting system. Please Specify which product you need when ordering. Sage Line 50 training software is available both with and with out a comprehensive assessment system.. The sage line 50 product contains Basic and Advanced tasks for operation of the Sage accounting software. Sage Line 50 uses a powerful "show and tell, then have a go" style training. This makes it easy for users to understand new concepts and provides then with a chance to "have a go in a safe training environment"....   [tags: Computer Science] 1452 words
(4.1 pages)
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Accounting Code Of Ethics - New York State Accounting Code of Ethics Introduction The accounting system is constantly changing. During these changes, it is important for accountants to adhere to the high ethical standards that they have always lived by. Adhering to the high ethical standards is an accountant?s obligation to the public, the profession, and themselves. An accountant?s ethical conduct usually lies within four different areas. This includes competence, confidentiality, integrity, and objectivity. NYSSCPA.ORG states, ?Members also have a continuing responsibility to cooperate with each other to improve the art of accounting, maintain the public?s confidence, and carry out the professions special responsib...   [tags: Business Ethics] 778 words
(2.2 pages)
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Link Between Marketing and Accounting - In this paper I will be discussing the link between marketing and accounting as I am a marketing/accounting major. There are many connections between the accounting business and marketing. The marketing business is something that should not be overseen and many times is more helpful and detrimental to a business. It is absolutely true that all businesses, including professional service firms, need to distinguish themselves in their marketplace. This is accomplished by creating a compelling message that differentiates the firm from its competitors....   [tags: Business] 1525 words
(4.4 pages)
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Accounting - The Financial Accounting Standards Board is board of seven independent members who are accounting professionals that was developed in 1973. This seven member group is responsible for communicating the standards that are in place for financial accounting and reporting that takes place in the United States. Generally accepted accounting principles (GAAP) are the standards that are used by the FASB to govern the way in which corporations prepare their financial reports. This process of utilizing these standards to maintain and report accounting files is the only method that the US Securities and Exchange Commission will accept....   [tags: Business Accounting Finance] 1116 words
(3.2 pages)
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My Career Choice: Accounting - From an early age, I have always had a keen interest in the world of accounting. From studying Accounting at A-level, I have gained further knowledge into this particular subject of my choice. I am currently studying A-levels in Accounting, Chemistry and ICT. I also done Biology but chose not continue the subject into second year. Each of these subjects has given me many different options to apply for at university. The subject I am most interested in studying at university is financial accounting at various university available to me....   [tags: Accounting, ] 483 words
(1.4 pages)
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Ethical And Legal Obligations In Accounting - According to Marshall (2004), "accounting is the process of identifying, measuring, and communicating economic information about an organization for the purpose of making decisions and informed judgements" (p. 3). Specifically, financial accounting "refers to the process that results in the preparation and reporting of financial statements for an entity" (Marshall, McManus, & Viele, p. 5). While many entities prepare their own financial statements, firms can also contract with a public accounting firm or a Certified Public Accountant (CPA) to perform services such as reviewing or compiling statements....   [tags: Business Accounting] 1324 words
(3.8 pages)
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Business Ethics in Accounting - In the past there [ ] have been several cases in the business environment related to the practices of accountants and auditors who have violated the trust and confidence of public. A number of researches have been conducted to find the potential factors resulting in unethical, biased or inappropriate decision making and judgments by the professionals. The aim of this paper is to review two academic articles and conclude on the reliability of the claims and assertions made by the authors. The research paper of Pflugrath, Martinov-Bennie & Chen (2007) aims to analyze the impact of organizational codes of ethics on the accountants’ and auditors’ judgments and professional decisions making ski...   [tags: Accounting, Business Ethics] 1028 words
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Accounting for Compensation at a Company - Re: Murray Compensation, Inc. Facts Murray Compensation, Inc. (Murray), an SEC registrant that provides payroll processing and benefit administration services to other companies, granted 100,000 “at-the-money” employee share options on January 1, 2006. The awards have a grant-date fair value of $6, vest at the end of the third year of service (cliff-vesting), and have an exercise price of $21. Subsequent to the awards being granted, the stock price has fallen significantly. On January 1, 2008, Murray decreased the exercise price on the stock options to $12....   [tags: Accounting Case Study] 815 words
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Bridgteon Industries Cost Accounting System - The managerial accounting system at Bridgeton, as it is presented, seems to be lacking detail necessary for efficient analysis. The sections used are sales, direct material, direct labor and overhead by account number, each divided into individual accounts and summed to find totals. There is no separation of fixed and variable costs in any of the accounts, making it difficult to analyze exactly where operations are costing money and, therefore, how they could possibly be improved. The presentation of the information groups all sales together and the different categories of costs together and does not provide for individual product analysis....   [tags: AIS Accounting Information Systems] 1173 words
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accounting - Accounting A) The budget at Henigen Corporation is an imposed “top down” budget which fails to consider the need for realistic data and the human interaction essential to an effective budgeting/control process. One cannot know whether or not there are any realistic goals for this company because the president has not given any basis for his goals. Participation of employees in preparation of the budget is minimal and limited to mechanical gathering and manipulation of data. Implementation of the budget will show little eagerness....   [tags: essays research papers] 499 words
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Code of Ethics in Management Accounting and Financial Management - Code of Ethics in Management Accounting and Financial Management When faced with major problems and dilemmas in management accounting and financial management, practitioners look to the 'standards of ethical conduct' for practitioners of management accounting and financial management. While looking at ethical standards one has to look at four different areas they are competence, confidentiality, integrity, and objectivity. These four areas are the backbone of what management accounting and financial management are made....   [tags: Ethics Morals Accounting Finance Essays]
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Accounting Theory - Accounting is in the current state of being an art. It is referred to as a social science, but the question that still remains in view today is should accounting be an art or should it actually be a science. Although the move to scientific based accounting would be desirable in today’s society it is not possible. When you consider the facts of this issue in a true debate style, the scientific based approach does not work and cannot do today what the current system does for its users. Accountants provide information that is reliable, verifiable and precise....   [tags: essays research papers] 595 words
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Management Accounting - Finances Future: Challenge or threat?-Management Accounting Missing Article This article is a bout the changing demands of the business world and the impact it will have on management accounting. According to this article the business role that management accountants play will be significantly different in the future. While this change is inevitable it is unclear how many of today's accountants will be able or willing to adjust to the change and conform to what is being called "New Accounting." Accountants in the future will have to play a much larger role in their organization....   [tags: Management] 770 words
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Financial Accounting Standards - Accounting for financial instruments and the issues that go along with it have been an ongoing issue throughout the years for businesses. As a result the Financial Accounting Standards Board have handed down decisions regarding the valuation method that should be used. Whether these decisions are truly the best way to value financial instruments has been up for debate. The earliest decision came down in May of 1993 when the Financial Accounting Standards Board passed Statement of Financial Accounting Standards No....   [tags: debt, securities, market value] 579 words
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Studying Accounting and Branches of the Field - Accounting World is moving very fast everyone wants to catch up with this advancement world is turning into a global village things are getting smaller and smaller day by day due to advancement of technology. Everyone trying its best to just cope up with this situation. Good home, a good job is everyone’s dream and to achieve that everyone is working hard. Everyone would agree that competition between younger generation have become tough in every field of life whether it be studies or jobs everyone tries to settle with the best....   [tags: Finance, Auditing] 552 words
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Accounting as a Professional School - Accounting professionals are in very high demand. The nature of work in accounting is so vast an individual would have so many different areas of accounting to choose from. Accounting requires people who can work with complex business structures, computer systems, and financial analysis packages. Accounting work further requires an aptitude for mathematics and the ability to compare and analyze accounting data quickly. Accountants also need to have strong communication skills as they must effectively communicate accounting data to their employers and/or clients....   [tags: Business Education] 1326 words
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Decision Making in Managerial Accounting - Managerial accountants need to use accounting information in seeing to it that they are able to plan, evaluate the company performance, manage risks and control the business operations in a manner that is deemed beneficial to the business as a whole (Caplan, n. d). This can be achieved through: having high standards of ethics in all situations; employing the techniques of management reports, budgetary control, and analysis of fund flows and financial statements; making prudent capital investment decisions; and maintaining continuous quality control systems....   [tags: Budgetary Control, Capital Investments]
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Pros and Cons of Computerized Accounting - Pros and Cons of Computerized Accounting There are many benefits of using a computerised accounting which I am going to list below and talk about in a little more detail. Ø Timesaving Ø Increased speed and accuracy Ø Less staff required Ø Less space need Timesaving It is fair to say that a computerised accounting system is much quicker than a manual accounting system as all the user has to do is enter the data into the computer and the computer will make the calculations and produce and print out any reports, invoices or credit notes at the touch of a button....   [tags: Papers] 666 words
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Use of Computers in Accounting - Use of Computers in Accounting Introduction Computers play an important part in the recording of finical information. There care many accounting packages available, and so many businesses are able to use computerised accounting system. One of the most important factors of computerised accounting system is that it provides the same functions as a manual accounting system. Main body Most business use computer systems instead rather then manual systems to record finical information, because it is a lot faster file can be shared more easily and changes can be made easily....   [tags: Papers] 645 words
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Values Of Accounting - When it comes to choosing a major in college, it is important that you pick a major that you will enjoy working in for the some part of your life. How does one make that decision. There are several different factors that play a role in choosing a major; or there was for me at least. When I looked into business for my intended major the first thing that came to my mind was not if I was going to enjoy working in some kind of business environment because I already new I would like that. Instead I looked at other aspects or values that a business degree offers....   [tags: Business Accounting]
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The Financial Accounting Standards Board (FASB) - To help accounting professionals easily navigate through 50-plus years of unorganized US generally accepted accounting principles (GAAP) and standards the Trustees of the Financial Accounting Foundation approved the Financial Accounting Standards Board (FASB) Accounting Standards Codification (Codification.) By codifying authoritative US GAAP, FASB will provide users with real-time and accurate information in one location. Concurrently, FASB developed the FASB Codification Research System; a web-based system allowing registered users to electronically research accounting issues....   [tags: Accounting]
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The Purpose of Accounting - INTRODUCTION The purpose of this document is to describe the nature, purpose and scope of accounting and it deliberately explains the details of each category in accounting. Accounting involves in preparing financial documents of an entity by analyzing, verifying, and reporting this records. It emphasizes its major characteristic role in field of banking and finance, with a mixture of supportive sub topics. Purpose and Scope Main view of this report is to explain how the accounting plays a major role in banking, finance and other sectors of business....   [tags: accounting essays] 632 words
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Outline the structure of the International Accounting Standards Committee Foundation - The purpose of this essay is to outline the structure of the International Accounting Standards Committee Foundation. The International Accounting Standards Board (IASB) is organised under an independent organisation called the International Accounting Standards Committee Foundation (IASC Foundation). IASC Foundation is a private sector body, which receives funding in the form of donations from banks and accounting firms. IASC Foundation is a not-for-profit organisation who acts in the public’s interest....   [tags: Accounting] 737 words
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Global Issue: Management Uses for Internal Accounting Procedures - Review of the Subject: Our course focuses on the two main objectives of internal accounting procedures. The two objectives, in no particular order, are decision making and control. “Information about firms’ future costs and revenues is not readily available but must be estimated by managers. Organizations must obtain and disseminate the knowledge to make these decisions. (Zimmerman, 2009, p. 2) At the same time employees’ interests are rarely aligned with those of management. While we would like to think our staff finds great satisfaction in helping us meet our goals the reality is that their objectives are not always our own....   [tags: Accounting]
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Accounting profit and True Profit - In first part of the assignments, I have narrowly defined the term accounting profit, forming a technical discussion on the basic accruals concept and the literal difference between accounting profit and true profit. This was portrayed by Hines (1988) as simply ‘measuring the reality’ without questioning who created the reality. Throughout this module, I have developed awareness on the level of sovereignty held by the standards-setters who determine how accounting profit is calculated. Instead of focusing on accrual assumptions, this essay will examine the formulation and implementation of the Conceptual Framework as a whole....   [tags: accounting policies, accounting practices]
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Accounting in Relation to Management Function - Management accounting can be viewed as Management concerned with Accounting. Basically, it is the study in order to the management of financial accounting, "accounting in relation to management function". This mention the way accounting function can be arranged again so it can be suitable in the background of management movement. The primary task of management accounting is, to reinvent the whole accounting process so that it may work as operational need of the organization. It provides specific information of accounting of present, past and future and this can be beneficial for basis management process....   [tags: accounting, costs, management] 817 words
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Abraham J Briloff and Accounting - It was my pleasure to be given the opportunity to attend the International Conference of Critical Accounting at Hunter College. At the conference, there were many professional international accountants, brilliant college and university professors, and many others who are expertise in the accounting field. All of these accountant professionals shared their experiences in the field, and their researches and findings. However, there was a unique session of this conference, a brief memorial of Abraham J....   [tags: conference, accounting firm, truth]
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The World Needs International Accounting Standards - Financial reporting has a responsibility to communicate the economic condition and functioning of an enterprise. This has to be accurate, reliable and comply by the accounting standards. Effective financial reporting is essential in maintaining confidence in an economy and encouraging investors to invest. Towards the end of 2008, the financial sector across the world was becoming increasingly unstable. Lehman Brothers had been declared bankrupt, Various allegations towards accounting standards have been made in relation to the financial crisis....   [tags: Accounting, Finance] 822 words
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Management Accounting and Algebra - This may surprise you but, there are many jobs dealing with algebra, three different types of jobs that use algebra are accounting, home health care providers, and credit manager. These different jobs all require knowledge of algebra to be able to solve the problems, and to do daily work that happens within the job. Accountants use algebra to make decisions and such, while health care providers use it on a daily basis to take care of their patient. And credit managers use it to help people with their financial deals and such as....   [tags: mathematics, health care, accounting]
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Managerial Accounting - The most important thing in chapter one is the Lean Thinking Model. My reason is it allows you to see the concept of doing more with less. A practical example of this is TESCO a grocery retailer in Britain uses lean thinking to improve its replenishment process for cola products. The most important points or concepts in chapter two are how to prepare an INCOME STATEMENT and a BALANCE SHEET. My reason is they are the most important in understanding the financials of a business. They give you a picture of the performance of your business....   [tags: Accounting]
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Preferences of the Banks in Hiring Accounting Technicians - Accounting technicians are now creating their names in the accounting firm. They are accounting professionals that could work in all types of organizations and widely employed throughout the public sector, industry and commerce and in private accountancy practices. According to the website of Foras Aiseanna Saothair Training & Employment Authority (n.d) they assist professional accountants in collecting, checking and analyzing financial reports. They could work independently or as a part of a team....   [tags: Accounting Technicians Careers]
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Accounting Scandals: The ENRON Scandal in 2001 - ... • Lack of information of transaction or financial statement of events during the reporting period. • Covering up the fact which could affect the amounts of financial statements. • Altering records or significantly relating terms to unusual transactions. • Assets can also be misused in various ways like Embezzling receipts, Stealing physical assets or intellectual property, causing an entity to pay for un-received goods or services and using entity’s assets for personal use. Interviewee’s Details: We interviewed Mr....   [tags: corruption, accounting frauds] 1233 words
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Suggestions to Improve the City Accounting Department - As a general overview, this paper will cover the challenges of the Accounting Department at the City of Menlo Park. The interest of this short essay or paper lies in the interest on the impact of my future career goals and other personal plans. In my career as an Accountant in a private sector, I worked for many different companies. The difficulty and usual economic instability of private sector had my career goals on a stand-by and merits based on hard-work is often found unrecognizable. Finding a steady job in the competitive private sector was difficult and unrewarding....   [tags: Problems With Accounting Department]
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The Purpose of Internal Controls in the Accounting Process - Internal control is the specific procedures used within a company to safeguard its assets from employee theft, robbery, and unauthorized use and enhanc the accuracy and reliability of its accounting records by making fewer mistakes (Weygandt, Kimmel, and Kieso, 2008). There are six principles that are used throughout the industry as standards for such control. They are: 1. Establishment of responsibility 2. Segregation of duties 3. Documentation procedures 4. Physical, mechanical, and electronic controls 5. Independent, internal verification 6. Other controls The first of these controls, establishment of responsibility, is the assignment of responsibility to certain employees....   [tags: Internal Controls, Accounting, ] 955 words
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