Accounting Essays

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Accounting Essays

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Organizing Resources Directing Personnel And Controlling Operations

Managerial accounting is concerned with providing accounting information to department managers who direct and control the operations of an internal business. Managerial accounting is also termed as management accounting or cost accounting. It provides the essential data mainly for decision making with which the organizations are actually run. Either small or large organization, it has managers. It is necessary for managers to be responsible in making plans, organizing resources, directing personnel, and controlling operations. Managerial accounting allows them to be informed, make better business decisions and plan department strategies in order to increase revenues while minimizing costs. The accounting department...

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Standard Costing And Absorption Costing

Standard costing and absorption costing are two different techniques that both are widely used in modern businesses. Both costing systems developed for different purposes and both systems have their separate criticisms. Standard costing is a very simple technique that can be easily translated in one’s business and from the standards set, one can prepare variances and investigate them using particular techniques. Standard costing and absorption costing have different roles when one is preparing the budgets....

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Nokia Greenhouse Business Challenge And Carbon Footprint

The report mainly focuses on the greenhouse business challenges and carbon footprint especially in the Nokia Company. The report has looked at the background information on the carbon footprint in Kuwait as well as in the Nokia Company. At Nokia, it is indicated that the company is on forefront in the reduction of its carbon footprint. In addressing the issue of carbon footprint, there are three main responses that the report has covered, which include Corporate Governance, Operations, and Corporate Social Responsibility and Brand. The report has as well looked at the comparison of Nokia’s responses to other similar companies....

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Version Specific Prioritization Of Test Cases

Abstract—Systems around us changing at a rapid pace, so does the software that supports them. In this scenario to validate the quality and get confidence of the users, system must be tested thoroughly for its adaptive changes. Regression testing achieves this goal but it incurs a very significant part of cost related to software maintenance. It validates the modified parts of the software and detects the newly introduced faults in previously tested code. Test case prioritization techniques are utilized to improve the cost effectiveness of this testing activity by ordering the test cases in the test suite to achieve an...

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Non Performing Assets Of Icici Bank

NPA is defined as an advance for which interest or repayment of principal or both remain outstanding for a period of more than two quarters. An asset which ceases to generate income for the bank. Interest debited to the borrower account has to be realized by the bank.Refers to the sum of non-performing loans (NPL) and real and other properties owned and acquired (ROPOA)....

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Overall Cost Systems Of Martin And Mccolls

This assignment is formulating an analysis of Absorption and Marginal Costing, strengths and weaknesses with special reference to pricing decisions and the importance of cost behaviour in decisions and the importance of cost behaviour in decision making and preparation of a flexible budget of the company through analysis of the internal, external factors within the competitive situation of the existing global competitive market. To consider the Absorption and marginal costing of the company an analysis of types of budget setting with regards the behavioural aspects of participation, and Responsibility Accounting in budget setting is the most vital factors now a...

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Accounting Involves The Binding

I have written this assignment as part of my Bsc Business Programme to fulfil my module requirement of Customer Service Excellence. I was required to select an organization in UK private sector, briefly describe the organization and discuss the importance of ensuring provision of excellent customer service in the sector/industry within which the organisation operates. My objectives were to examine the organisation’s approach to customer service and evaluate the customer service strategies that it currently employs. In the end, my task was to provide recommendations based on the findings with regard to providing excellent customer service. The organization...

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Conceptual Framework For Accounting

Furthermore, profit is a financial benefit that is realized when the amount of expenses, cost of operating, and taxes can be covered by the total amount of money are made from a business activity in order to sustain the activity in their organization. So that any funds they can make and goes to the business’s owners, who might or might not decide to spend the profit on the business as well....

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Examining The Criticisms Of Historical Cost Accounting

For many years accountants have been required to comply with the rules and guidelines set out in the accounting concepts and conventions. One accounting technique used is the historical cost convention which requires the transactions to be recorded at the original price, i.e., the price paid, in the balance sheet. The £ amount and the date of the transaction are both recorded under historical cost convention. This simply means that the assets and expenses of a firm must be recorded at the original cost when purchased and the profit is to be calculated by reducing the revenue by the original...

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Examining Senior Managerial Remuneration

The area of senior managerial remuneration has attracted much concern and acrimony over the course of the present decade (Bertrand & Mullainathan, 2001, p 901 to 932). Much of this debate has been fuelled by media outrage at the disproportionately large remuneration given to senior executives of companies with poor performance records (Bertrand & Mullainathan, 2001, p 901 to 932)....

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History Of Financial Reporting Framework For Smes

The International Accounting Standards Board had published International Financial Reporting Standard specially designed to be used by the small and medium-sized entities (SMEs) in 2009 (IASB, 2009). This IFRS for SMEs was issued with the purpose of reducing the burden of private entities that is not accountable to the public. The IFRS for SMEs is a self-contained standard of 230 pages, and is less complex in a number of ways compared to the full IFRSs (IASB, 2009)...

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How Efficiency Audit Committee

In this study, I test the return of investment of audit committee (audit committee ROI) of public firms. Particularly, I test how the characteristics of audit committee member are associated with audit committee ROI. There are a number of literature discuss the characteristics of audit committee are associated with the financial reporting quality(Dhaliwal et al. 2010), audit reporting(Carcello and Neal 2000) and market reaction(Chen et al. 2008). But I do not find any research directly tests the efficiency of audit committee....

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Questions Related To Different Accounting Frameworks

Accounting Conceptual Framework is a set of theoretical principles which are generally accepted as guidelines in preparing financial statements. One of the purposes of having an accounting conceptual framework is to give guidelines for the standard setters when they are coming up with new standards or revising existing accounting standards. Besides, it is also very useful when preparing and auditing the financial statements. This framework is being used by many different types of users include Board of IASB (International Accounting Standard Board) for the development of future international accounting standards as well as promoting harmonization of accounting standards throughout the...

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Bylaws And Rules

This standard establishes general requirements for documentation the auditor should prepare and retain in connection with engagements conducted pursuant to the standards of the Public Company Accounting Oversight Board ...

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Whether Balance Sheets Under Gaap Inform Investors Of Company S Future Performance

In recent years, there are many cases which have been involved in fraudulent accounting practice, such as the Enron and the WorldCom had tried to exaggerate their earnings for the purpose of maintaining high share prices. Those problems lead to a lack of confidence in information in financial reporting. The answer to the question whether a firm’s balance sheet and income statement prepared under Generally Accepted Accounting Principles (GAAP) inform investor of company’s performance within next few years has been controversial for long time. In our research we focus on profitability as an important factor of future performance. Efficient securities...

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Five Years Statement Of Financial Position

Debenhams is a United Kingdom retail department store business based within the ‘general retailers’ sector of the consumer services industry as defined by the Industry Classification Benchmark  (ICB 2012).  The start was with a draper store established by William Clark in 1778, then William Debenham invested in the company in 1813 and it became Clark & Debenham (Debenhams 2012)....

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The Stanford Group Company

Coming from the small town of Mexia, Texas, with no backing of family money or power, Robert Allen Stanford reached the pinnacle of success in the world ... ...

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Impact Of Abc System

The purpose of the first part of this report is firstly to make a brief mention to the history of the selected company that has a listing on the stock exchange; Debenhams. Secondly, is to present financial performance analysis of Debenhams for financial years 2011 and 2012. The analysis is carried out by employed ratios as analytical tools to assess the company’s profitability, its liquidity, the efficiency, the capital gearing of Debenhams and investment ratios performance. The calculation of these ratios from the final accounts of the company will help us to compare these two years....

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The Methods Of Target Costing

Target costing is a method precedes Kaizen costing thus Kaizen costing is relevant to target costing. Target costing is a tool of the cost management for the purpose cut down the overall cost of a product over its product life cycle. Management applies pricing technique of the target costing to achieve customer demand and the company profit goals. Target costing is famous used in several industries for example machine tooling, electronics, precision machine manufacturing and automobile manufacturing. Japanese firm such as Toshiba, Nissan, Toyota are using the target costing. Assembly-oriented production grow in popularity is because Japanese tastes become more...

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Investigating Circumstances Which Require The Use Of Abc

The activity based costing initially began during the early’s of the 60s, specifically when the staff of the finance and accounting departments of a company named General Electric’s (GE) wanted to improve the usefulness of the accounting information in the controlling ever-increasing indirect costs. It was noticed by General electric’s employees that indirect costs are commonly the outcome of “upstream” decisions, that are made long before the costs are actually incurred....

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Costs Based Decisions During The Performance Analization Process

The performances of any organizations are generated by the actions that take place within the company and the actions are triggered by decisions that must be taken....

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Budgeting An Essential Planning Tool In Competitive Marketplace

In order to increase competitive advantage in this high competition market place today, every company need a planning and control tool to act faster. Budget is the tool to plan, monitor and control daily activities to meet organisation goal with effectively and efficiently. If we able to be well on the way to manage and draw up company budget, it will be effective toolkit to you to increase ability to survive in the commercial word through foresight and planning....

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Financial Instrument Measurement Regulation In Australia

This report provides analysis of financial instrument measurement regulation in Australia which governed by AASB 139 and application of this standard on Telstra Group. The first part of the report is aimed to recognise the difference between AASB 139 and IAS 39, implication of changes, current regulation and issues, views of interested parties, and future development for AASB 139. The second part will analyse Telstra’s annual report for financial year 2006 and 2009 for financial instrument measurement during transition period and afterward based on standards....

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Evaluation Of The Proposed Remedy To The Current Situation

Mauritius and India first signed a Double Tax Agreement Treaty (DTAT) in 1983. The primary purpose of this provision was that the capital gains obtained by selling securities in India would not taxed for Mauritian residents in India.1 This agreement provides tax free benefits on capitals gains for investments if routed via Mauritius. The government of Mauritius put an end to the capital gains tax so that Mauritian-based foreign institutional investors (FIIs) would not be taxed when they invest in India.1 As such, Mauritius has made the most foreign direct investment in India, with 44% of the total...

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A Discussion Of Fundamental Accounting Concepts

Accounting concepts and conventions as used in accountancy are the rules and principles applied when recording economic events and in the preparation of financial statements, that all accountants abide by. Some of the fundamental accounting concepts that will be discussed are the accruals, prudence, going concern, business entity and consistency concepts....

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Departmental Accounts For Jackson

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

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Terminating The Current Employees

The purpose of the report is to be able to understand ethics theories and apply these theories into real life situations and also to learn how to evaluate the ethical dilemma that happened in the case by critically analyzing the issues, solving problems and finally giving recommendations to the company....

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Accounting Is One Of The Oldest Disciplines Societies

Accounting is one of the oldest disciplines societies around the world have developed stretching to 4000BC. It has developed alongside business and economic progress to assist in decision making by businesses, town councils and non-profit organizations among other entities that require their finances to be managed and reported (Davey et al., 2000). The American Accounting Association (AAA) formed a committee in 1964 to define accounting as “the process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of the information.” in their publication, “A Statement of Basic Accounting Theory” (1966, p. 1). This definition...

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New Independence Standards For Auditing

Induced by scandals, auditors face new duties, independence standards, and oversight structures. New duties include performing audits of internal control over financial reporting and providing related reports. New independence standards, first established by the Securities and Exchange Commission (SEC) and rendered into law by the Sarbanes-Oxley Act, restrict auditors from rendering for audit clients an extensive catalogue of non-audit services [1] ...

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Legal Requirements Structures And Issues

When starting up a small to medium business there are a few things that need to be addressed, such as the legal requirements / structures and issues, the financial and accounting obligations, the performance measures, the approached to the quality management of the organisation, the strategic challenges and the human resources issues within an organisation....

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Leading Networking And Telecommunications Equipment And Services Company

A business model describes the rationale of how an organization creates, delivers, and captures value. Along with the globalization and the development of the internet, as a telecome company, huawei facing both challenges and opportunities. Huaweis business strategy can easily described as innovation and expansion, Huawei has over 140,000 employees, around 46% of whom are engaged in research and development. It has 20 R&D institutes in countries including China, Germany and the United States, in 2011 it invested around US$3.74 billion in R&D. Huawei is also good at capturing profit from its innovation, by finding Investment and partnerships all over...

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Literature Review Of A Performance Analysis And Review

In a simple way performance means “doing something successfully” mainly by using the available resources. Performance can be elusive concept. It deals with the outcomes, results, and accomplishments achieved by a person, group or Organisation. (William J. Rothwel, Carolyn K.Hohne & Stephen B. King: 2007).In many cases people do define performance based on financial aspects of the business. Focusing only on financial matters does not tell us what should we do and how to do in order to be successful. “Performance is the definition and progressive achievement of tangible, specific, measurable, worthwhile and personally meaningful goals.” (Darryl D. Enos 2007).We...

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Indonesias Financial Reporting

Indonesia's financial reporting requirements are set by four different government agencies which are responsible for regulating the specific sectors and industries... ...

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The Chances Of Non Payment

Quality: We work hard to earn and maintain our clients’ trust and confidence. So that we can provide quality professional services in an independent, objective, and ethical manner, we have implemented a number of global professional development initiatives and quality and compliance safeguards....

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The Managerial Accounting And Financial Accounting

Accounting has generally been a controversial term. A laymans understanding of accountancy would revolve around a number of banking processes and operations dealing with keeping financial records and transactions. However, accounting, in fact, covers much more than the above – mentioned activities. It deals with performing audits, financial management, identifying statistical and financial matters, checking up profits and losses, financial information and taxes. In fact, accounting today has a major role in organizing people’s life through banks, financial organizations, salaries, marketing, loan bureaus and many others. In a brief introduction to “Accounting” I would like to present a general...

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