Accounting Essay Examples and Topics

In this regard, the suitability of the adopted cost allocation strategy is influenced by the nature of the products and the consistency of the production process.

The initial cost of investment for Sneaker 2013 can be calculated as: Tables 1 and 2 show total cash flows and discounted cash flows for Sneaker 2013 for 2013-2018.

Financial accounting and reporting, therefore, need to work under the supervision and standards set by accounting regulatory bodies, to provide credible accounting information and reports to their clients.

The two main theoretical approaches in accounting theory are the normative approach and the positive approach. The methodology used in research and development of normative approach depends entirely on standardised accounting principles to validate any [...]

Therefore, job order costing in a production company involves allocating costs to inventory and after that cost of sales when the job is finished.

This paper focuses on analysing accounting purposes through the identification of various users in the societies, and the implications drawn from accounting needs and functions as this discipline serves the interested parties. Accounting helps in [...]

A brief background of Procter and Gamble The current staffing issues facing the accounts department at Procter and Gamble are very relevant in determining the strategies, structures and practices to be assumed in order to [...]

The Walt Disney Company employs break-even analysis to determine the point at which total revenues equal total costs; therefore, it assists in understanding the level of sales necessary to cover all expenses.

Top executives of Nortel Networks Corporation rather supplied cooked-up figures to the Board and the audit committee and based on the representation's made b the Nortel top management, they approved the quarterly results and the [...]

A company's revenue should be determined only when the reward and risks of ownership are transferred to the buyer, and the amount of consideration can be measured. The matching concept is a practice whereby expenses [...]

Rule based accounting on the other hand applies the rules that limit flexibility and judgment of the financial statements preparers. The judgments and interpretation of the financial statements are dictated by the rules and not [...]

This has affected accounting as it has enabled easier provision of information to different groups of people through assortment of data to be handed to the financial accounting and management accounting.

Moreover, even though accounting is a theoretical subject with many rules and exceptions, the usage of needed laws to make the balance sheet and statement of income the most effective for the firm is a [...]

Net income of the company increased significantly from $4,607 million in 2016 to $7,628 million in 2017. The historical income statements for the company can be found in Table 1 and Table 2.

The study reviews the relevance of the ABC system in companies and the need for managers in enterprises to adopt it in their operations.

The rhythmic accounting rap song Debit Credit Theory by Colin Dodds is an excellent way to remember that debit's location is the left side of the account, and credit's location is the right one.

Samsung is one of the largest organizations in the technology industry, linked to its philosophy of orientation concerning a wide array of electronic devices tailored to individual populations.

Still, the information separated to the category of comprehensive income may be important as it includes losses from foreign currency translations, and gains or losses on investments.

In addition, auditors are required to provide the credibility of the information regarding the firm's financial position, whether the firm complies with the stipulate financial accounting standards in reporting and its financial performance. This represents [...]

The physical Measure of Output method allocates the joint costs based on the physical aspects of the products. Absorption Costing is one of the methods used to allocate joint costs in a manufacturing facility.

The aim of this paper is to compare the audit fees of three companies: Walmart, Bank of America, and Aetna. The analysis of differences in audit fees paid by Walmart, Bank of America, and Aetna [...]

In this regard, absorption costing does not differentiate between variable costs and fixed costs thus cannot be used in Cost Volume Profit analysis; on the other hand, variable costing which does differentiate between variable costs [...]

The financial plan is the basic component of the business plan as it provides the feasibility of a project and enables the investors to make logical decisions regarding the acceptance and rejection of the project [...]

This phase delineates all the activities related to the process of documenting all the available financial information and entering it into the database of the company1. The fourth stage of the accounting cycle is the [...]

134%, indicating that the company's profitability is high and its equity returns profits well. The current ratio is a liquidity ratio between current assets and liabilities, showing a company's ability to pay its debts with [...]

Companies decide on the nature of the information they need to include in their financial statement footnotes by adhering to Generally Accepted Accounting Principles and International Financial Reporting Standards. The purpose of footnotes is to [...]

The first section of the paper provides the analysis of an appropriate form of business organization selected for Cookie Creations with reference to possible benefits and weaknesses, the discussion of the accounting information required for [...]

Financial accounting is a number of certain operations in any business or profitable organization that are intended to summarize, analyze, and report every transaction that is somehow related to the company's activity.

The graphical representation of the sales cycle assisted the auditor in analyzing the strengths and weaknesses of the company's control activities.

As a result, accountants can now generate reports and analyses that provide a comprehensive picture of the present situation and are helpful for management operations thanks to the acceleration of accounting information.

Another advantage of the Trial Balance is that it helps to provide a snapshot of the company's financial position at a particular time. In conclusion, the Trial Balance is a valuable tool for checking the [...]

The Industrial Organization or IO perspective assumes that the industry is definitive regarding the opportunities for the businesses' economic profit since some industries are just more profitable than the others.

The reality created in accounting is thus subjective and a product of the accountants' interpretation of different situations. Therefore, the accounting philosophy continues to evolve, and creating any form of reality in this field will [...]

The financial reports of The GAP, H&M, and Inditex are expected to differ significantly in some components because The GAP follows the US GAAP while the others use the IFRS standard.

At the beginning of the financial year, the interest rate was low but shifted seamlessly because of the Federal Reserve policy.

They take the data from balance sheets and income statements and convert the values in dollars into percentages. Moreover, one can use common-size financial statements to compare one firm's data with the industry's best and [...]

The article draws attention to the problem of fraud in the accounting profession. The author refers to the issues and potential of Accounting Information Systems, particularly Blockchain technology, to detect and prevent fraud in corrupted [...]

The aforementioned fluctuations provide opportunities for the misrepresentation of the company's true financial position through the alteration of statements to suit specific geopolitical events and circumstances. There is a high degree of subjectivity in the [...]

Walmart originally sold common stock to the public in 1970, and the company's stock began trading on the New York Stock Exchange on August 25, 1972, marking the company's debut on the stock market.

Originally, statisticians resort to numerous tools which are often utilized for general business improvement and industrial problem solving.

Lastly, capital profits and losses on investment and other assets must be shown in the 'unrestricted' group unless specific contributor limitations allow it to be recorded in one of the two restricted groups. The impact [...]

A director needs to characterize the particular accounting needs of the organization or industry and select a framework that meets these necessities. The paper will summarize the accounting standards and compare the similarities and differences.

Generally Accepted Accounting Principles and the Sarbanes-Oxley Act provide the sets of the accounting principles, standards, and procedures which the companies apply to form the financial reports GAAP is the combination of the authoritative standards [...]

In the case of Oak City, costs refer to the amount of money charged by the city in providing services within the police jurisdiction.

For instance, in government accounting the focus is on the flow of financial resources and not economic resources as the case is in other forms of accounting.

The ticker sign is an abbreviation using letters acquired from the business's actual name and identifies Apple's specific bond or stock on a stock exchange and other financial platforms.

Nevertheless, the business is still lacking $ 76 508 to pass the break-even point when the investors consider the company as an investment in a profitable company.

The design connects the conceptual research challenge to relevant and doable empirical research. Interviews provided accurate and consistent data relevant to the research questions.

Forward contracts are used when a company wants to set the price for the contract related to the future date. The obvious advantages are in reducing the risk exposure, fixing the rates for the future, [...]

The value of the product that the business entities will always offer corresponds to the demand of that product. The method also ensures the accuracy in the recording of cash and expenses.

According to financial terms, goodwill is defined as the net difference between the actual value of the business as a whole, and the fair value of the inseparable net assets.

On the other hand, the lessor may find leasing attractive because once the purchase of the asset is complete at the inception of the lease the asset is handed over to the lessee and therefore [...]

The first option is to sell the equipment after specific reworking, the second option is to convert the equipment to a standard model and sell it and the last option is to sell it without [...]

When the client of the company showed intention to purchase from the company, the bookkeeper recorded the transaction as a sale and indicated that some of the stock had left the company.

The Website of the accounting software recommends a system configuration of "1 GHz Intel Pentium III for single user and 1.

It is therefore imperative for the accounting systems to be designed in such a manner that they meet the needs of the organizations and assist them in managing their accounts and at the same time [...]

On the International Financial Reporting Standard number two, that is IFRS Two, there was a first announcement or the first issuance in the year two thousand and four with effective dates given as from or [...]

As a result, the attacker knows the password for the administrator account of the company that cooperates with the company of the employee.

Based on the review of the company's financial statements and relevant sections of the annual report, four key audit risk areas have been identified and discussed in this report by using the integrated reporting concept.

Analysis of the manufacturing costs of the product will act as a guide for setting the price. The journal entries below are for the cost of manufacturing a single combine harvester.

I am anxious to combine the knowledge and aptitude of these skills with a master's degree in accounting. I want to acquire professional skills and abilities that would enable me to contribute to the economic [...]

This value should include taxes arising from the implementation of the asset, the risks involved, the cost of acquiring the assets, roles played by auxiliary intangible and tangible assets and finally the discount fee.

The first part of the balance sheet that must be addressed for Meta is assets, which are represented by the company's capital. The worth of the organization's assets directly impacts the equity estimation on the [...]

To begin the analysis, it is necessary to determine the importance of accounting reports for the company and the impact of their results.

The difficulty in estimating a share price for Tesla is that, according to the forecasts, Tesla's debt/equity ratio is constantly falling, which means that the WACC would need to be adjusted for the periods with [...]

Several factors can influence how a company builds its capital structure, such as the company's stage of growth, the industry it operates in, its cash flow, and its risk profile.

The move will require the government to analyze tax implications and determine whether making the tax approach conforms to the method allowed by the standards.

An example of such a model for a manufacturing company that combines the integrative approach of MFCA and BSC is shown in Table 1.

The process diverts the organization's objectives because the extra spending is not to add value but to avoid a reduction in the amount of the next budget.

The first limitation is that ratio analysis overlooks the human aspect of a firm. A firm might have poorly performed in the previous financial year but it is currently above the industry average with its [...]

In 2010, the company had declined and recovered in 2012. However, in 2012, the company reported an increase in the value of the margin to 40%.

Due to fluctuations in economies, all organizations need to take into consideration concepts of the time value of money in any investment venture.

Thus, in making measurement decisions, standard-setters focus on applying the definitions of financial statement elements and the qualitative characteristics of accounting information in the context of the objective of financial reporting.

It could be said that the main goal of this paper is to evaluate the financial performance of the company, and all values are in millions.

This is the opportunity cost he loses the accounting job in order to run the lemonade stand. The opportunity cost of the lemonade stand is provided in the simplest kind.

The contribution margin is the amount of income after the fixed costs have been met. Caldwell and Welch describe CM as the amount of income that the company realizes less the fixed costs.

To establish a foundation for discussion, the historical cost concept implies that the companies have to state in their balance sheets the monetary value of the asset at the moment of purchase or acquisition.

However, to create a sustainable method of arranging and using the corporate resources, one must not only be able to identify the essential components of the accounting equation but also study the unique characteristics of [...]

The classification shifting is a means of misreporting the core expenses of the company as the special items to meet the analysts' forecasts.

In awarding loans to the organisation, the bank will not claim any ownership spot in the group; they do not assign their personnel to monitor the operations of our organisation once they grant us the [...]

Financial control is "the control of financial resources as they flow out or into the organization". An income statement is a financial document summarizing the actual performance of an organization within a specified period.

Technological elements such as accounting software and accounting application devices also play a significant role in the CPA. The introduction of the first computer in the 20th century and its advancement for over 50 years [...]

End-users refers to the all the stakeholders that might be interested in the financial statements of a company. It is rather important to have a clear understanding of the problem in this case.

1 Table 5 Notably, sales to total assets and that of net worth declines across the years. In the six year financial period of analysis, Bayer AG has been able to meet obligations and beyond.

Secondly, is disclosure of the components of cash and cash equivalents. Thirdly, is disclosure of cash and cash equivalents that cannot be accessed by the firm inclusive of the reasons detailed in management notes.

This paper is organized in different parts that are as follows; the introduction, framework and background, conceptual framework, value and limitations of the international financial reporting standards, financial reports of the given companies, and qualitative [...]

The accounting systems and practices in a country are determined by the political and economic system, the ownership patterns, legal and taxation system as well as the cultural values.

The new non-GAAP accounting practice that Apple followed required the company to account for all the revenue and cost associated with the production of iPhone and Apple TVs after the products are sold.

This paper discusses the importance of accountability in hospitals and the role of leaders in maintaining positive organizational culture in their facilities. Medical facility staffs need to be accountable in their actions; this will facilitate [...]

The key difference between a contribution income statement and a traditional income statement is that the former focuses on the impact of changes on the profits, whereas the latter emphasizes the net profit.

However, it should add that before developing a cost reduction strategy, it is necessary to establish a systematic accounting of expenses in all areas of the company and its divisions.

Finally, if under IFRS, it is possible to change the value of inventory according to the changes that occurred in the market, GAAP bans this type of action.

The initial step will be to notify Walmart's management and the relevant departments about the audit and formally request the documents to be used in the process.

In the video by SusanCrosson, the presenter mentions that the reasons for using this analysis are that it leads to better management and allows managers to ask more appropriate questions.

On the debit of the passive balance sheet accounts, meaning the accounts of the registration of the enterprise sources, a decrease in the sources of funds is reflected.

Apple’s most significant sources of cash from operating activities in 2016-2018 are net income, depreciation and amortization, and accounts payable.

This paper about the Dnasko's financial statement and pro forma income statement, and sales and growth, shows company growing.

Although a reduction in the income has been noted due to the fact that the company closed 15 underperforming stores, an increase in the operating profit margin has been realized in both the financial year [...]

The organization of accounting information in a cognizable and comprehensible manner is a vital aspect in communicating to the people who need this information.

A review of the ratios shows that the earnings of the company can adequately cover the interest expense. The results show that the profitability is erratic and needs to be observed over a period of [...]

They also have responsibilities of reviewing and evaluating the effectiveness of a company in terms of adhering to the policies of the government.

However, the auditor can eliminate the anomaly by changing the system error and re-validating the audit test. The features of the substantive test include Analytical procedures, Test of controls, and Test of details.

In 1962 the company opened its first Target store and later in 2000 the company's name was changed from Dayton Dry Goods Company to Target in 2000.

The subject matter of recognition, measurement and reporting of intangibles has been reviewed in accordance with newly inserted accounting standard AASB 138, which is parallel to International accounting standard 38.

The critical element of the analysis is to assess which of the two models is beneficial for the buyer. The contribution margin of the hybrid car relative to the traditional vehicle is calculated by subtracting [...]

One of the main reasons why the company's customized AIS failed in preventing fraud is because the system existed in such a way that entry of information into the data system regarding sales, purchases, and [...]

The company officials will attend to them online and get all the relevant details in relation to the parcel and the customer.

The income statement also known as profit and loss account is a financial statement that is used in reporting the operating performance of a business entity over an accounting period.

A client involvement in the therapy process will determine the therapy outcome in addition to quality of the treatment choice. For a counselor, it is crucial to approach this process with honesty and responsibility in [...]

The Government Accounting Standards Board and the Financial Accounting Standards Board make up the Generally Accepted Accounting Principles board. This is because the modified accrual accounting avails information regarding the assets and liabilities of an [...]

The first section of the professional code of conduct expounds that members of AICPA are supposed to act in the most honorable manner.

In response to the understatement of the sales returns, the external auditors should recommend an adjustment to the sales return figures from the erroneous 2.

The cash flow statement would detail H&M's incoming and outgoing cash, allowing management to evaluate the company's capacity to produce cash by examining changes over time. One key aspect of financial statement analysis is using [...]

The report also presents a comparative performance analysis between Lloyds Banking Group and HSBC Holdings over the past two years. The company is also the largest retail, commercial banking, and financial services organization in the [...]

By expensing the cost of employee training, the cost is spread across the same period in which the benefit is expected to be received.

This paper offers an assessment of the investment attractiveness of the HBSC company by describing the organization's current position and comparing its vital financial indicators with those of a direct competitor in the market.

The two differ in the methods of providing financial resources to the borrower and the mechanisms for generating a return on investment.

Moreover, these volumes are also related to the nature of the corporation's business operations: Walmart has many physical and online stores and requires more logistical effort and assortment.

The first part of the article is devoted to the theoretical background and literature review, explaining the basics of IFRS and US GAAP.

The DAYS360 function is one of the main Excel features that help to optimize the workflow. This function is one of the most often employed and effortless to utilize, which justifies its introduction into the [...]