Capston research project - Essay Example

Only on StudentShare

Extract of sample
Capston research project

Alternatively, it may be handled by offsetting the balance of the inventory allowances in the books of account. In most cases, the inventory write-downs are small in value and in case of a larger value; the same is treated as a non-recurring financial loss. In the company’s income statement, the same can be reflected as an above-the-line expense. However, according to the IAS 1, companies are usually required to show separate disclosures for the inventory write-downs in the financial statements; taking into consideration that the inventory write-downs are items of near to the ground resolution. Accordingly, the International Accounting Standards 1 (IAS 1) requires that an organization provides sufficient information with regard to the issues that affects the significant events in the organization. The provided information should also be able to warrant a much better understanding of the company’s financial status. The greatest danger that lies for the company should it fail to include the write-downs of inventory in the financial statements is that it may lead to an overestimation of the earnings persistence by the company’s investors. Failure to do this is a great concern and as a partner in the audit process, I would seriously take this into consideration and seek to understand further basing on logical reasoning why the same was not included. ...Show more

Summary

Capstone research project Name: Institution: Question 1 1. Damaging financial and ethical repercussions The basic definition for an inventory write-down may refer to the formal recognition by a company that a portion of its inventory no longer has any significant value…
Author : flohuel
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Capston research project"
with a personal 20% discount.
Grab the best paper

Related Essays

Capstone Research Project
The rise and fall of organizations is dependent on the business practices adopted by them in a particular business environment. It is often assumed that the prime responsibility of any organization is to promote fair and honest business practices along with being transparent and honest to stakeholders in the short as well as in the long run.
10 pages (2500 words) Essay
Capstone Research Project
The rules determined within the SAS No. 82 precisely explain the responsibility of an auditor towards detection of fraud. Under this rule, the characteristics of fraud are properly explained and this helps the auditor to reach to a level of reasonable assurance that misstatements have been identified.
6 pages (1500 words) Research Paper
Capstone Research Project (5)
12 6.3 Recommendation 12 References 13 1.0 GAAP Generally Accepted Accounting Principle (GAAP) has changed its module over the course of time. Key aspects of GAAP are mentioned in the following section. GAAP is used to present comparative financial statements in report format while major focus is given on multiyear financial statement.
8 pages (2000 words) Research Paper
Research Project
However, the most shattering impacts of fraud include the freezing of company assets, loss of clients and sponsors and eventual longer jail terms for its top management (Bragg, 2008). In the same view, there are also lawful accounting firms such as the Generally Accepted Accounting Principles (GAAP) that is tasked with setting the precedent for corporations against fraudulent activities.
8 pages (2000 words) Research Paper
Group Research Project
This model considers the asset’s sensitivity to systematic risk and the expected rate of return of a theoretical risk-free asset (Malz, 2011). The capital asset pricing model is founded on the assumption that beta (?) determines the investor’s cost of equity capital.
6 pages (1500 words) Essay
Research Project
Two most powerful outcomes that can be associated with the said attempts that have been made are the passage of Medicare and Medicaid in 1965. Since then, not much has been done to improve the health care system, criticizes Koplan, Liverman and Kraak, (2010).
5 pages (1250 words) Research Paper
Project Research
It has total assets of more than AED 1.5 billion and its gross written premium for 2012 was AED 650 million. The company operates over 20 locations in UAE. Emirates Insurance Company offers a wide range of insurance related products and services to serve its various customers like corporate, business organization, other financial institution and individuals.
10 pages (2500 words) Essay
Embraer Company(Brazil Company) BRICS, Why should invest?
The financials from the forecasted financial statements would be used to evaluate how profitable the company would be. Financial statements of company have been forecasted using the data of the company since 2007, as it has been said that
7 pages (1750 words) Essay
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT