Accounting Essays

The selection of essays below have been submitted to us by students in order to help you with your studies.

Accounting Essays

All of the essays are free to use and download with no registration required to see the full essay content. Please remember to reference UKEssays.com if you wish to cite any of these essays in your own work.

Search Accounting Essays

The Industrial Training Experience

Lawrence Wong & Co. was established in 1986 before the Malaysian economic recession in 1987. It has established itself as a recognized Management Consultancy Firm specializing in all kinds of management and consultancy services, including corporate secretarial, administrative, bookkeeping, auditing, taxation, business or financial planning and other management allied services....

Click here to read more

The Impact Of Budgetary Control On Job Performance In An Organisation

The effectiveness of any budgetary system depends not only on the appropriateness of its technical characteristics to the particular organisation and environmental circumstances to which it is applied, but also on the way in which organisational participants make use of information that it promotes. It is a common place that the budgetary system is often ignored, sometimes manipulated and even falsified by those whom it is provided to. Rosen and Sneck (1997), Lowe and Shaw (1968), Mintzerg (1995), and Yetton (1967) indicate that dysfunctional behaviour frequently stems from the fact that the ...

Click here to read more

Purpose Use And Importance Of Different Accounting Records

An accounting record is defined as the all of the documentations involved in the preparation of financial statements, records which are relevant to financial review, and audits which include the recording of assets and liabilities, ledgers, journals, and any other supporting documents like invoices....

Click here to read more

Posting Journal Entries To Ledger Accounts

Analysing transactions and recording them as journal entries is the first step in all the accounting cycles. It begins at the start of an accounting period and continues through the whole period. Some common data that are included in journal entries are: journal entry number, batch number, type, amount of money, accounting period, and description (name, auto-reversing, date). Journal entries are entered in chronological order with debits being entered before credits....

Click here to read more

Management Accounting

Accounting Essays - Management Accounting - Accounting measures of performance have been the traditional mainstay of quantitative approaches to organizational performance measurement. ...

Click here to read more

Independence In Mind And Independence In Appearance

There are 2 types of independence, independence of mind and independence in appearance:...

Click here to read more

Important Financial Information By Company To Its Stakeholders

Financial statements are a tool that provide important financial information about a company to its stakeholders. However, recently there have been an increased frequency of restated financial statements in many high-profile cases such as Enron, WorldCom, Royal Ahold and HealthSouth, that have drawn far greater attention to the failures of businesses in which defection of financial reporting and corporate disclosure have been missed. This will affect the users’ view toward financial reporting’s credibility as the loss of credibility has been spreading across capital markets. The rise in the global nature of businesses...

Click here to read more

Examining Seven User Groups Related To Financial Statements

The framework for the preparation and presentation of financial statements identified seven user groups:...

Click here to read more

Evaluation Of Strategic Objectives Of Operations Management Within Toyota

Toyota was founded in 1937 by Kiichiro Toyoda and is headquartered in Aichi, Nagoya and in Tokyo. Slowly Toyota Motor Corporation became the largest and the most successful automobile manufacturer in Japan. Today, it is one of the world's largest automobile manufacturers, overtaking Chrysler and Ford to become neck and neck with General Motors. Fortune Magazine argue that Toyota is the worlds 5th largest publicly traded company, with General Motors the 9th largest....

Click here to read more

Evaluating Ethics Of Bernie Madoffs Investment Securities Fraud

Every business has an ethical responsibility not only to the stakeholders but also to society at large. This responsibility should be in line with stakeholder interest and society welfare. The government and regulators are responsible for ensuring that firms follow these ethical objectives. Failure to do so may lead to losses which will not only affect stakeholders but society at large. The financial fraud which was experienced in Bernie Madoff Investments in the US is a clear example of the losses which may be incurred due to the failure of observing the ethical...

Click here to read more

Advantages And Disadvantages Of Making Accounting Rules

Financial reporting is part of financial accounting which is activity involved with 'classifying, measuring and recording the economic transactions of an entity in accordance with established principles, legal requirements and accounting standards' (Collis and Hussey, 2007). Financial reporting provides information about both the financial performance and position of an entity, and is involved in the communication of financial statements to external users. The process of financial reporting is monitored by a regulatory framework that ensures all statements are prepared according to rules prescribed by the said framework (Collis and Hussey, 2007). ...

Click here to read more

Advantages And Disadvantages Of Principles Based Accounting Standards

The primary advantage of principles-based accounting rests in its broad guidelines that can be applied to numerous situations. Broad principles avoid the pitfalls associated with precise requirements that allow contracts to be written specifically to manipulate their intent. A 1981 study sponsored by FASB found evidence that managers purposefully try to structure leases as operating leases to avoid incurring additional liabilities. Providing broad guidelines may improve the representational faithfulness of financial statements....

Click here to read more

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....

Click here to read more

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...

Click here to read more

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...

Click here to read more

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...

Click here to read more

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....

Click here to read more

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)....

Click here to read more

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...

Click here to read more

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)...

Click here to read more

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...

Click here to read more

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....

Click here to read more

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...

Click here to read more

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....

Click here to read more

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)....

Click here to read more

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)....

Click here to read more

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...

Click here to read more

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 ...

Click here to read more

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 ... ...

Click here to read more

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...

Click here to read more

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....

Click here to read more

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....

Click here to read more

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....

Click here to read more

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....

Click here to read more