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Accounting the Most Effective Means of Achieving Essay

… ¶ … Accounting the Most Effective Means of Achieving Accountability in Organizations

The term "accountability" can best be defined by Roberts and Scapens (1985) in the following manner: "Accountability in its broadest sense simply refers to the giving and demanding of reasons for conduct" (Roberts, 1991, P. 4). When connecting 'accountability' to accounting, they continue to observe that "accounting institutionalizes the notion of accountability; it institutionalizes the rights of some people to hold others to account for their actions" (ibid.), and that accounting, therefore, reflects social values, norms, conventions, and expectaitions. Accounting, in this sense, is a value system that binds its own ideologies on society.

The role of accounting as manifesting a subjective and control-implementing discipline has long been realized. What this essay seeks…. [read more]


International Regulation, Accounting Standards Essay

… These experts find such practices to be isolating and do little to attract business, capital or investors to the country. "Even if those standards were considered to represent best practice, Australia would not necessarily be able to attract capital because foreign corporations and investors would not be able to make sensible assessments, especially on a comparative basis of the value of the Australian enterprises. The need for common accounting language to facilitate investor evaluation of domestic and foreign corporations and to avoid potentially costly accounting conventions by foreign listed companies are powerful arguments against the retention of purely domestic financial reporting regimes" (Deegan, 2009, p.110). Essentially, this sentiment makes a truly powerful argument: while a country like Australia committing to their own unique accounting standards…. [read more]


Accounting When it Comes to the Success Term Paper

… ¶ … Accounting

When it comes to the success of any given firm, the relevance of cost accounting cannot be overstated. In basic terms, cost accounting arose out of the need for the management to have access to financial information that is more detailed than that which is supplied by ordinary financial statements. In this text, I define cost accounting and the role it plays in the enhancement of the smooth operation as well as success of any given business entity. Further, I highlight the various cost accounting methods and how they are used.

Cost Accounting: A Concise Definition

According to Drury (2007), "cost accounting is concerned with cost accumulation for inventory valuation to meet the requirements of external reporting and internal profit measurement." In…. [read more]


Accounting Theory Why Accounting Research Research Paper

… In many situations, the occurrences of the accounting failures have not been focused by the challenging trends in the market. It is often understood that the present challenges of growth and development do not appear to have a genuine avenue of growth and development (Hall 2013, p. 78). In order to focus on a strong avenue for growth and development, it has become a relevant strategy for the researches to rest within a stable avenue of growth and development in the field (Chapman et, al 2007, p. 32).

Changing trends in the remedies available for enforcing a right or addressing a wrong asserted lawsuit

There are many and changing trends in the general avenues of managing the rights of addressing a wrong assertion over lawsuits…. [read more]


International Accounting - Evaluate Research Term Paper

… "

Regarding the cooperation between the two major accounting standard setters in the world, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have issued, on the 29th of October 2002, a memorandum of understanding which represents an important step toward formalizing their commitment to the convergence of United States and international accounting standards. The agreement in October 2002 is proof that FASB and IASB are trying to adopt compatible, high-quality solutions to both present and future accounting issues.

The state and local government entities do not have the same needs as businesses, when it comes to financial reporting. Therefore, they do not use standards that are directly comparable to those of businesses. As a consequence, the Governmental Accounting Standards Board…. [read more]


Global Accounting Standards Essay

… International Accounting Standards: Adoption And Transition

Traditionally, the accounting profession has been seen as a functionary occupation, the practitioners of which are concerned with the presentation of economic figures relating to individual and organizational financial performance. Accountancy has been seen largely as a field reserved for mathematical grunt-work, with its output serving as indicative of performance rather than incursive upon it. Today, that perspective has been altered significantly, for better and for worse. The role of accounting professionals has both diversified and expanded considerably over the past few years, with practitioners in this field coming to serve as primary decision-makers and organizational visionaries in their own right. This serves as a testament to the crucial contribution of accountancy-derived economic insight in the determination of sensible…. [read more]


Accounting Theory Essay

… It is also the reason the rich continue being rich while the poor struggle in their poverty. It is the reason there are estates for the rich and those for the middle class, as well as, those for the poor people in the society. Secondly, economic inequality is the reason there exists the various social divisions. These include the classification into either, rich, super wealthy, middle class or poor. These social divisions have created their underlying problems for the society. Additionally, the inequalities in the society cause underachievement. Capital allows people to have access to means of production; hence, enabling them to achieve greater heights of success (Richards, 2009, p. 78). However, due to inequality, those with potential to become successful do not achieve the…. [read more]


Accounting Function in Microsoft Corporation Analysis Essay

… To begin with, it would be important to determine the extent to which Microsoft Corporation is making use of long-term debt. This we could determine by comparing its debt ratio with that of one of its key competitors, i.e. Oracle, IBM, or Apple.
The debt ratio, according to Albrecht, Stice, and Stice (2007, pp. 476), is 'a measure of leverage, computed by dividing total liabilities by total assets.'
Company
Debt Ratio in '000'

Microsoft Corporation
168,692/241,086 = 0.70

IBM
99,224/117,470 = 0.84


The debt ratio in this case indicates that both companies have more assets than debt. The debt ratio figure of Microsoft indicates that the company has 70% of its assets financed by creditors, which is fairly high even for a tech company like…. [read more]


Evaluation of Accounting Questions Term Paper

… Resource Structure Analysis

The statistics indicate that in the five-year period Kimberly-Clark has had a greater workforce than those employed by SCA. However, one of the key point to note are, in the past year, SCA had a considerable increase in its workforce with an increase of 10,243 employees over last year. This is in contrast to Kimberly-Clark as in the past year it had a considerable decline in its workforce with a decline in about 14,000 employees. However, the sales amount is the reverse. Kimberly-Clark has constantly had a lower number of sales compared to SCA. More so, the sales of the latter has constantly increased in the past four years from 81,337 in 2011 to 85,408 in 2012 to 89,019 in 2013 and…. [read more]


Internal Auditor, the External Case Study

… com, n.d.).

The CFO is responsible for presenting and reporting accurate and timely historical financial information for the company. Every stakeholder in the company, including shareholders, analysts, creditors, employees and other members of management, all rely on the accuracy and timeliness of information that the CFO is responsible for. It is imperative that the information be accurate because so many decisions are based on it (Investopedia, 2011).

The CFO is also responsible for the company's financial condition, which means he or she must decide how to invest the company's money, while taking into consideration such factors as risk and liquidity. Also, the CFO manages the company's capital structure, one of his or her most important duties, and determines the optimum mix of debt, equity, and…. [read more]


Kpmg Served as the Independent Essay

… According to the Public Company Accounting Oversight Board (PCAOB), a non-profit company established by Congress, one of the foremost jobs of the auditor is to protect investors and further the public interest by conducting "informative, accurate and independent audit reports" (pcaobus.org). The reality is that with any big corporation that deals with tremendous amounts of money and wealth, there's an enormous potential for greed and dishonesty, and auditing companies need to be independent and objective enough to be able to assess the financial statements and accounting methods of such corporations to see if the national economy and investors are at any sort of risk. For example when Friehling, Bernie Madoff's auditor was arrested, "Lev Dassin, acting U.S. attorney for the Southern District of New York,…. [read more]


Decision Making and Accounting Theories Essay

… This means that Xerox have to ensure that they are relevant and their presence is felt in the world. Secondly there was a company Kodak which was in existence before Xerox and it failed. Therefore another force that drove the decision to be made is that the CEO did not want Xerox to fall in the same trap that Kodak fell which saw its collapse. Another driving force was making the company more competitive. This is through outsourcing manufacturing and eliminating marquee products. Diversification was also a driving force that saw the CEO wanting to move the organization into new areas. Through all these forces Xerox made its presence felt in the market and is now known as a result to the decision that was…. [read more]


Management Accounting Provides Data Essay

… Rather, it represents a product that has passed its peak in terms of holding market share. It can be a quick decline or some product niches may take decades.

One of the primary goals in any business is to maximize profitability. Therefore, it is important to understand the product life cycle model because it can help the organization to meet strategic objectives. Management accounting has much to offer in regards to when a new product should be designed and introduced or retired from production. Such strategic decisions might vary with different industries as well as within individual businesses. Thus all strategies should be customized to fit the specific organization with rigorous and detail financial planning as one of the core considerations that can help to…. [read more]


Auditing the Role of Databases Essay

… Auditing

The role of databases in the auditing function is to analyze a much larger volume of information more quickly and accurately than what has been done in the past (Cascarino, 2012). That role is important because manual systems were far less reliable than systems that utilize computers, and those old systems could cause auditors to easily make mistakes that they would not otherwise have made. Now, there are fewer mistakes because of the databases. Companies can get their auditing needs addressed more quickly, as well, and auditors are able to do more work in a shorter period of time (Cascarino, 2012). Both privacy and security are parts of the database role, as well (Cascarino, 2012). Manual systems were more prone to being examined by…. [read more]


Investigation of the Significant Factors in Creative Accounting in Hong Kong Companies Term Paper

… ¶ … BARRIERS and CHALLENGES to INSTITUTION of IASB'S INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)

The focus of this research is the IASB's International Financial Reporting Standards (IFRS) and the barriers and challenges that exist to adoption and implementation of these standards. This research works conducts an extensive review of relevant academic and professional literature in the intuitive to identify these challenges and barriers and as well identifies the steps that are necessary to overcome these challenges.

ASSESSMENT of the BARRIERS and CHALLENGES to INSTITUTION of IASB'S INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)

This research seeks to understand what the challenges are to simplifying global accounting. Presently, there are approximately 100 countries that require companies to use the IASB's International Financing Reporting Standards (IFRS). This work seeks…. [read more]


Macpherson ), it Is "Personal Essay

… Because of my solid interpersonal skills, I would feel comfortable networking and marketing our firm. Being organized is also a great strength of mine that comes in handy especially in a profession built on keen organization. One of the reasons I want to be an accountant is because I am good at numbers and logical, linear thinking. My greatest challenges are probably my ability to be innovative within my chosen profession, and also to think strategically. I need to focus more on the future, envisioning what my clients might need and anticipating their needs. This does not seem like a primary task of an accountant, but if I truly want to make a difference in the world I must be more visionary.

c) Although I…. [read more]


Mf Global Research Paper

… Further complicating matters, the company also utilized U.S. treasuries and bets on complicated European debts. When faced with large fines, MF Global proceeded to clandestinely borrow from customer's accounts without permission in complex investments. This fraudulent, unsanctioned, leveraged borrowing was carried out under the CEO's direction, despite internal warnings from the company board, who ultimately signed off on it. According to Lee, "He pushed through a $6.3 billion bet on European debt; a wager big enough to wipe out the firm five times over if it went bad; despite concerns from other executives and board members. And it is now clear that he personally lobbied regulators and auditors about the strategy." (2012).

The instruments didn't pay off in time ultimately leading to financial failure and…. [read more]


Accounting Goals of the Firm Term Paper

… Accounting

Goals of the Firm. You may have heard big business criticized for focusing on short-term performance at the expense of long-term results. Explain why a firm that strives to maximize stock price should be less subject to an overemphasis on short-term results than one that simply maximizes profits.

For a company that maximizes profit, the best result is always the one that produces the most profit in the current period. With this strategy, having two periods of high profit and two periods of low profit is as good as having four periods of medium growth, assuming that the former produces the same overall result.

In the case of a company striving to maximize stock price, the same is not true. Instead, four periods of…. [read more]


Accounting America Was Not Founded Term Paper

… Bush and other pro-Republicans consistently make disparaging remarks about the "liberal elite" who they claim are out of touch with the American heartland (as if any Texan oil tycoon can actually have a deep felt understanding of what it means to be a trailer-park parent in the heart of the south). These parties are intensely anti-intellectual. " By the 1990's, 'elitism. had become an all-purpose epithet, used by neoconservatives against the 'new class'... consisting of all political intellectuals with the exception of themselves... The Bushes ... represent aristocracy with a populist gloss, borrowing what they can from the evangelical revival, siding with business and its distaste for time-wasting mind work, holding intellectual talent in contempt from both above and below." (Gitlin, 2000) The fact that…. [read more]


HR Best Practices Research Paper

… HR Strategy Plan

The author of this report is charged with concocting a fictional organization of some defined type and industry and then laying forth a human resources plan for that organization. The human resources plan in question will have several major components. These components will include an overview of the organization, a description of the organizational structure and how the organizational will and should work. Questions that will be answered will include how the organization will operate, whether the organization will be domestic only or international in nature, who the competitors will be, the critical success factors that will exist, what the culture will be like, the information that will be communicated and why people would want to work for the organization. Three major…. [read more]


Awarding Audit Contracts by U.S Term Paper

… Chapter 3 - LITERATURE/DESKTOP RESEARCH

3.1 Summary

The information available for researching this project was based on a cross-section of materials. Although this was an immense task because of all the government guides available on the subject, not to mention non-government materials, most of it was readily available on the Internet.

Some of the major websites that provided basic information included the following.

Non-Government Sites

American Bar Association Section of Public Contract Law. It is organized into six divisions that have links on the home page.

NASPO-National Association of Procurement Officials. Has a section on contract information and auditing procedures.

Fedmarket.com, The Federal Marketplace

Government Sites

Defense Contract Audit Agency. Provides audits, reports and financial advisory services.

CBDnet, which is Commerce Business Daily. Provides information…. [read more]


Large Organizations, the Existence Essay

… It has been the case in many entities that thigh the internal auditors are effective in their work but sometimes they fail to meet their responsibilities only due to the fact that the management of the organization attaches very low importance to such auditors. This hampers their performance on a very large scale (Jonson 2007).

Sometimes management is also reluctant to provide data to internal auditors because it does not trust the auditors completely. Business confidential documents such as minutes of the meeting of board of directors are not provided to the internal auditors on the fear that such data will be leaked to the general public. Therefore, winning the confidence of management is an important aspect in an effective internal audit function.

The work…. [read more]


IFRS Reporting Requirements for Apple Research Paper

… The preparation of Apple Inc.’s consolidated financial statements and complementary summaries in conformism with U.S. generally accepted accounting principle, necessitates the organization’s management to make approximations and suppositions that impact the amounts reported.

2. Describe the organization responsible for establishing and regulating the reporting requirements of Apple, Inc.

The organization that is culpable for the establishment and regulation of the reporting requirements of Apple, Inc. is the Securities Exchange Commission (SEC). Financial Accounting Standards Board (FASB), is a private and non-profit organization that responsible for setting standards and whose fundamental aim takes into account the establishment and improvement of the of the GAAP within America. However, the organization that takes up the role of ensuring that these standards are adhered to and that…. [read more]


Financial and Managerial Accounting Research Proposal

… Financial and Managerial Accounting

Activity-Based Costing

The past century has been tormented by multiple modifications, affecting all features of the every day life. In the corporate sector, issues such as globalization and market liberalization have led to an internationalization of the run operations. And in order to cope with the emergent features and requirements, multinationals have also been striving to develop and implement more efficient and effective accounting systems. These new systems had to allow better communication, increased chances for corporate profits, and most importantly, cost reductions. In addition, they are also aimed to reduce the times of product development and ensure a more efficient management of the incurred risks.

A solution that has been promoted to resolving the issues at hand is the implementation…. [read more]


Legislation and Standards Term Paper

… Issues of legal protection, like the degree of recourse given to creditors of investors who have been hurt as a major aspect of the nation's regulatory and legal framework might affect the audit. In the business world where investors have limited authority of the resource, it might expedite the creation of a dominant position for management to impact or miss-use their position, distort the assessment of liabilities, and override controls (Bode, 2007).

Implicit in standards

A nation's norms and values may not be consistent with those that are implied in worldwide standards. The dangers of ISAs have recently been recently highlighted based on philosophy and illustration of the diversity of auditing in some nations. Similarly, while this paper does not explicitly address implicit cultural biases…. [read more]


Financial Statements: Introduction, by David Harper ) Article Review

… Financial Statements: Introduction, by David Harper (2009), there are objectives, definitions, tools, and techniques that are all addressed, as well as assets, liabilities, cash flow, and pension plans. It is very important to understand all of the issues that surround financial statements, too, because analyzing them will not work without a clear understanding of what is being looked at and how it all goes together. The advantages of studying and analyzing financial statements are also talked about, because not everyone realizes how beneficial this can be and how important it is to do it correctly.

I agree with the viewpoint of the author, and I am not the only person who appears to feel that way. A similar article on the Accounting for Management Web…. [read more]


Current Event/Epidemic the Enron Case Essay

… ¶ … Current Event/Epidemic

The Enron case has been one of the most debated and talked about financial scandals from around the world. It has enabled people and societies to grasp the magnitude of bankrupt business at a global state. Despite the fact that Enron represented a worldwide subject, most importantly it affected people at a local level, better said, the citizens of Huston. It was not necessarily an issue of greater impact at the local level but rather a greater impact in the minds and conscience of the common Houstonian to see that such events and histories unfold everyday without anybody being aware.

The Enron success represented one of the most interesting and at the same time American success stories. Started in the 80s…. [read more]


Entrepreneurship ) What Is Success Term Paper

… With increasing growth of belief regarding their capability to attain their objectives, they achieve with increasing rapidity. Nevertheless their confidence is equated with planned risks they must shoulder to attain higher accolades. Successful entrepreneurs can be said to those who examine and ensure risk minimization in the quest for profits. They subscribe to the view "no guts, no glory." (10 Secrets of Successful Entrepreneurs)

Successful entrepreneurs make their planning in view of that. They possess a vision, and they are loaded with sufficient belief within themselves that they can be successful in their vision. However, are they aware the manner in which to reach their vision? In order to accomplish their vision, they have actual objectives which will give the launching pad towards their final…. [read more]


Plan for New Accounting Firm Chapter

… ¶ … accounting sphere and industry around the civilized world is large and it is only going to get larger. Due to things such as rising populations, increasingly complex personal and business tax laws, increasingly complex personal and business ethical standards and so forth and the like, well-trained and well-versed accountants are becoming more and more called upon as compared to the years of the past. While the opportunity is obviously there, it needs to be sought and garnered in the right way. While there are plenty of customers and opportunities out there, they need to be found and harnessed properly. This would mean doing the right thing the first time, every time. This would include from an accuracy standpoint as well as from an…. [read more]

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