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Accounting
1 pages (250 words)
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The project focuses on the different accounting standards and it mainly includes Accounting standards-1(AS-1), Accounting standards-6(AS-6), Accounting standards-10 (AS-10) and Accounting standards-12 (AS-12). “The Financial Accounting Standards Board (FASB) has been the… The accounting standard deals with the disclosure of important accounting rules followed…
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Accounting
1 pages (250 words)
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Following your recent appointment, I hereby offer to explain some useful similarities and differences between financial and managerial accounting as well as some managerial accounting reports that you can expect within EEC: 2. Both financial and managerial accounting portrays… There may be mandatory precise formats and standards for statutory accounts. 3.…
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Accounting
1 pages (250 words)
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As opposed to accrual method, cash basis of accounting is the one that is not desirable for most organizations, because it does not match income to expenses which produces the income. Cash basis of accounting only recognizes income when cash is received, and expenses when cash… (Fishman) For example, if a firm has an unusual cash collection for a particular…
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Accounting
3 pages (750 words)
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There is evidence for this assumption and the results have spoken just the very same for a period of time. Accounting has indeed been the cornerstone of success… It is however important to understand that accounting is not a very easy subject to gain complete insight upon. It is usually seen as a very difficult trade to learn and get one’s complete…
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Accounting
4 pages (1000 words)
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The author in this article discusses the importance of the consistency of the accounting standards as the need of the hour because of the fact that the reliance placed on the principles has been, thus far, unable to ensure its application consistently and the management tends to… Consistency can only be maintained in the companies throughout, if the accounting…
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Accounting
1 pages (250 words)
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It is based on several concepts that standardize its practices to be consistent for ease of understanding and reporting for all professionals. Although cash is a highly critical… Cash flow statement is prepared separately to account for all the cash transactions and determine the hard cash position of the business apart from its profitability and sales…
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Accounting
2 pages (500 words)
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The managers use the information to make internal decisions of an organization (Jackson, Sawyers & Jenkins, 2009). Manager make decisions that concern… Therefore, what matters is quality decision and hence the need of managerial accounting in an organization. Unlike in financial accounting, the decisions made in management accounting are meant for internal…
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Accounting
5 pages (1250 words)
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With automated production processes, computers gather and record information at once. The outcome is “an operational information system that fully integrates manufacturing… These systems can also differentiate between value-added and non-value added costs, offering cost accountants the chance to change them to value added costs (Jordan, 1999). In the past,…
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Accounting
10 pages (2500 words)
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This picture is best painted by looking at the history of accounting that will also provide insight into the various accounting theories. Among these are… These primitive forms of accounting for the number of items provide the basis by which early societies may be said to have been practicing accounting. Such groups are likes of the Egyptian with the need to…
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Accounting
3 pages (750 words)
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Computer systems and Information Technology networks have significantly made shorter the time that is required by the accountant for the preparation and presentation of financial… Computer systems have translated all the hand-written statements into systems that can present financial reports from individual transactions. Popular accounting systems are now also…
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ACCOUNTING
2 pages (500 words)
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In terms of questionable - but still legal - accounting problems, the organization would record products as sales revenue when they were shipped. The organization then began a practice where… The organization entered into illegal accounting territory when $5.6 million of products that had been shipped early were returned. As a means of avoiding the revenue…
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Accounting
4 pages (1000 words)
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It represents the financial characteristics of leasing transactions and proves its best accounting treatment. We had been following the treatment of entering assets in our balance sheet, but… Even though, leased assets are not legally owned by lessee, he has the right over the leased assets to make use of and earn profits out of it and hence it should come…
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Accounting
1 pages (250 words)
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It is my understanding that you are looking for a new accounting graduate to grow with our company. There are ways to simplify the selection process in order to narrow down the search among the many applicants.… Obviously since they are new graduates you don’t expect an extensive experience resume, but you should target candidates that have at least an…
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Accounting
1 pages (250 words)
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Financial reporting refers to information that is useful to users that are making rational investment, and credit decisions related to the company; this includes financial statements, cash receipts, and a business’ economic resources. Official documents include the statement… The information contained in financial reporting must be both relevant and reliable…
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Accounting
2 pages (500 words)
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The inclination toward both legitimate and illegitimate means of creative accounting in the past years has led us to question the accounting and reporting ethics practiced by managers around the globe. Capitalization of expenses, hidden asset impairments, using off-balance sheet… Our analysis will cover the main factors that may encourage unethical accounting…
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Accounting
5 pages (1250 words)
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The Financial Statements, normally present in an entity’s annual report, provide a broad overview of where the company stands in terms of financial performance. Two integral components of these Financial Statements, crucial for the purpose of decision making and strategy… Also commonly known as the Balance Sheet, the Statement of Financial Position reflects as…
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Accounting
7 pages (1750 words)
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The following in part solutions are the financial understanding of different financial situations occurring at a different period with different level company working area. In this paper, an idea of investment in other companies, importance of short-term investments, lease… Other companies can reside their head offices in other foreign countries. Therefore,…
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ACCOUNTING
9 pages (2250 words) , Download 1
The case study mainly deals with the issue of introducing management accounting system in the firm and including adequate number of cost centers to it. After much controversy about the number of cost centers to be included in the management accounting system the chief accountant… He successfully included all the expenses and related each with one or more cost…
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Accounting
2 pages (500 words)
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Therefore, the statement of cash flows is crucial because it helps in identifying the cash inflow’s sources and its utilization.… Failing to provide the cash flow statement, the company will lack the proper information on telling the sources of cash and its use. Additionally, the company will not have adequate planning tool for its business success in the long…
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Accounting
3 pages (750 words) , Download 0
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Companies should be required to use the same accounting method for inventory. That would ensure that there is no exploitation of the customers because of the inventory methods that are been used by companies… Uniformity will allow for comparisons in the industry as a whole and that will ensure that the best performing entities are noted. The other advantage of…
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Accounting
1 pages (250 words)
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Hendley’s statement that difference between the opening bank balance and the closing bank balance is pure profit is incorrect. According to Nikolai, Bazley, & Jones (2009), a statement of cash flow indicates the financial position while the income statement indicates the… The statement made by Dr. Hendley lacks the aspect of expenses incurred by the…
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Accounting
4 pages (1000 words) , Download 0
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I believe that I am an excellent accountant. I always comply with the generally accepted accounting principle.As an accountant it is my duty to always give a maximum effort in order to complete the tasks at hand on time… During my academic career I have demonstrated that I am a great student. It is important to me to learn as much as I can from the course…
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Accounting
4 pages (1000 words)
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Marginal costing, also known as contribution, variable and direct costing, refers to the method of cost accounting whereby marginal costs are the ones charged to cost units and the fixed costs are the ones treated as a lump sum. Refers to the method where only variable costs are… First, there are numerous advantages of using marginal costing over absorption…
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Accounting
10 pages (2500 words)
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This has therefore prompted various companies worldwide to adopt the International Financial Reporting Standards (IFRS). This process began in 2005 with various European Union states adopting these techniques so… 285). The UK being an active member of the European Union has not been left behind in the adoption process. The International Financial Reporting…
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Accounting
4 pages (1000 words)
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Due to the diversification and the development of the financial markets across the globe, some of the major countries adopted a common set of rules to meet their reporting requirements known as the International Financial Reporting Standards. These reporting standards, since… l not only affect the reporting style and responsibility of the public companies but…
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