Pertinently, accounting used to be a function that is merely focused on its ability to prepare financial statements to reflect the current state of the company to enable the manager of the latter to make sound decisions relative to their proper functioning. Nowadays, the accounting system has evolved to cater to one important function: to provide information necessary for business planning, decision-making and control. The importance of the accounting profession has been underscored by the dynamism and competitiveness of the business environment. In this regard, there is an utmost necessity for business strategies to focus on the development of various tools and models for the preparation of financial statements by which pertinent information are obtained. Accounting now is an essential part of strategic planning and control. In addition thereto, it is also through the development of accounting systems that the role of the accountants within a particular organisation is ensured. The importance of accounting systems is also underscored by the need to monitor the roles of accountants as they perform their functions (Broadbent and Laughlin 2005). Interestingly, literature has highlighted the presence of the so-called audit expectations gap wherein the accountants and auditors have not really been able to comply with the expectations of their financial users. Audit expectations gap is simply defined as that inconsistency between the manners by which the users of financial statements expect their accountants to perform their duties vis-a-vis the manner by which the latter actually complies with what expected from them. Succinctly, the presence of the audit expectations gap can be damaging to the entire profession. It has been stated that the audit expectations gap reduces the level of trust afforded by the users of financial statements to their accountants and auditors. The following are usually the expectations that the users of financial statements have with respect to their accountants: (1) the need for accountants to perform advisory roles, (2) the importance of undertaking designer roles, and (3) the need to fulfill executioner roles. On the other hand, in performing the audit function, the accountant is also expected to: (1) detect fraud, no matter how big or small it is; (2) to provide early detection signals that show the state of the company; most especially as regards to whether or not it is on the brink of bankruptcy; (3) to ensure independence in the auditing process; and lastly, (4) the need to prevent the material misstatements in the financial statements. It is therefore in this regard, that the need for accounting systems has been once again underscored as the former has the capacity to address the said deficiencies. The collapse of major corporations such as Enron due to financial scandals has likewise called for the betterment of the roles of the accountants. Evidently, the collapse of the said corporations has been brought about by the fact that it has failed to ensure the proper preparation of financial statements. In view of this, it has been suggested that the accounting process be incorporated within the Corporate Governance Initiatives to ensure accountability, transparency and better decision making. Hence, again, the development of accounting systems
Previous studies have all highlighted the importance of strategic measures by which the company can improve their performance. To meet the demands of an era characterized by intense competition, companies have adopted various strategies which are all aimed towards the betterment of their performance…
Dissertation Proposal Table of Contents 1.0 Research Title 3 2.0 Introduction 3 3.0 Research Question 5 4.0 Aim and Objective of the Study 5 5.0 Rational and Justification for the Study 7 6.0 Methodology 8 7.0 Research Structure 10 7.1 Time Table for the Research 13 8.0 Literature Review 15 8.1 A Brief Introduction of the UK Stock Exchange Market (LSE) 15 8.2 Investor Relations in the UK Stock Exchange Market 16 8.3 Institutional Ownership and Earnings 17 References 19 Bibliography 24 1.0 Research Title Accounting Restatements and Institutional Ownership: The Case of the UK 2.0 Introduction Evidences have revealed that the instances of accounting restatements have increased considerably since
This research examined the impact of employee motivation on organisational performance by assessing employee motivation in an organisation in the United Kingdom. Employee motivation was assessed by conducting qualitative and quantitative researches through semi-structured interviews and survey questionnaires, respectively.
Proposal for a Descriptive Type of Research
Working Title; The Role of Motivation in Project Management
The interest on this subject stems from personal observation on current trends in the construction industry. Notably, there has been a remarkable shift of motivation factors as the global society dips more into realms of modernity and modern lifestyles.
Rural tourism, generally viewed as country experiences, comprise of various kinds of leisure related activities and attractions associated with non-urban areas or villages, primarily dominated by agricultural communities. In this context, the article will explore rural tourism in UK by seeking answers to why rural tourism attracts people, what are the characteristics of potential rural tourists and whether rural tourism needs to advertise more.
Table of Contents Introduction Definitions of CSR History of CSR in UK Importance of CSR in UK firms CSR activities Product activities Employee activities Supply chain activities Environmental activities Stakeholder activities Communicating CSR CSR and policy in UK Measuring CSR performance Success of CSR Conclusion References Introduction This report explores the level of corporate social responsibility (CSR) initiatives that firms in UK engage in.
Most of the officials of the companies that follow various accounting standards embrace the aforementioned procedure with the anticipation that their financial statements can be recorded or measured in an efficient manner. One of the major advantages that can be identified in relation to harmonisation and standardisation of the accounting standards is that the process facilitates to develop the world economy by increasing international business transactions by a considerable level.
Accounting Restatements and Institutional Ownership: The Case of the UK 2.0 Introduction Evidences have revealed that the instances of accounting restatements have increased considerably since the past years. The numbers of companies filing restatements with SEC (Securities and Exchange Commission) reached 25000 during the year 2005 and the initial nine months of the year 2006 which was evidently a record increase in the accounting history (Turner & Weirich, 2006).
The essence of corporate governance lies in the separation of ownership and control. The shareholders of a firm bestow the responsibilities to control and administer the firm on the board of directors. The managers while running the company have the informational advantage, which the shareholders do not have.
Relevant financial principles will be explored at length in terms of corporate decision making. Standards will be explored concerning optimal accounting objectives based on established business principles. Near the end of this analysis, background information on British Petroleum (BP) will be discussed, and related to the subject of accounting practices.
32 pages (8000 words)Dissertation
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