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.

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 [...]

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.

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.

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 [...]

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.

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 [...]

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.

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 [...]

In 2015, the food giant Kraft Foods Group merged with fellow food processing company Heinz, forming the Kraft Heinz Company, which is now the fifth largest food and beverage company in the world by sales.

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 [...]

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 [...]

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

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 [...]

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.

Also, the scandals made the World Bank and the International Monetary Fund introduce Reports on the Observance of Standards and Codes to assist in accounting and auditing of developments and priorities in different nations and [...]

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 [...]

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 [...]

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

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

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

In reference to Crowther, social accounting can be defined as "an approach to reporting a firm's activities which stresses the need for the identification of socially relevant behavior, the determination of those whom the company [...]

This is due to the fact that management accounting is for decision making and thus it is used for planning the future of the organization while financial accounting is for the reporting of past operations [...]

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.

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

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 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 [...]

The expansion of the global interactions especially in terms of the global market is what led to the need for the enactment of international standards.

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 [...]

She is considering confronting the sales representatives that seem to be creating the fraudulent sales, the sales manager of the Dayton region, the VP of sales, her boss, or a friend of hers on the [...]

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.

One of the critical issues with respect to revenue recognition is the timing of the appropriate point in a sales cycle when revenue should be recognized.

The Balanced Scorecard is a tool utilized in corporations for the purpose of compensating workers in a way that is beneficial for both the management and the workforce. Usually, achievement of the goals and objectives [...]

The primary goal of financial reporting is the provision of financial statements to the relevant uses for the purpose of making credit and informed investment decisions.

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 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 [...]

To understand the accounting costs that are associated with the production of beer, it will be important to understand the raw materials and other costs that are incurred in the processing departments.

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.

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 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 [...]

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.

This analysis is expected to know how the company invests and manages its assets that would tell its financial stability prospects and the future.

According to the American Marketing Association, the brand is a "name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers [...]

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 [...]

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 [...]

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.

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 [...]

A single-step income statement gives a unified report of a business's profit at the moment, exploring a single equation to calculate net income and use its information in the following processes.

The stages involved are the calculation of gross profit by subtracting the cost of sales from total sales, calculating operating income by subtracting operating expenses from the gross profit, and finally, obtaining net income or [...]

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.

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.

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 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 [...]

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 [...]

As a rule, the correlation "relative value of costs and customer costs" is an impulse to make essential and sometimes cardinal decisions of the company regarding the strategy of activity in production.

Accountants begin to record business transactions in the general journal and eventually post the entries in the respective accounts of the general ledger.

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.

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 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 [...]

This essay seeks to analyze a specific kind of revenue, referred to as unearned revenue, with the aim of showing why it is not considered income.

This paper aims to discuss the characteristics of such concepts as variable costs, fixed costs, mixed costs, and job order costing as a part of healthcare services.

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.

Exactly how a costing system impacts corporate sustainability is a critical issue to consider since it is directly related to the success of the company's activities, the applicability of its strategies, and the marketability of [...]

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

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 use of paper has created modern business bureaucracy, but paper is also an important instrument for critical business agreements.

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.

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 [...]

In this case, the author alleges that the quality of the governance mechanism is affected by fraud. On the other hand, the author's opinion about governance and financial fraud is not correct.

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.

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.

The balance sheet of the company indicated that the company's goodwill was impaired and recorded according to IAS 38 Intangible Assets.

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.

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.

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 cost identification of the carrying amount of land, plant, and equipment ceases to be recognized when the asset is in the state and condition required to function in the manner expected by the management.

Research is important to help determine the implication of changes in the legal environment in Accounting and Financial Management. The fourth reason for research in Accounting and Financial Management is a fraud.

In 2003, the Securities and Exchange Commission accused U.S.healthcare giant HealthSouth Corporation and its CEO Richard Scrushy of inflating the company's earnings to the tune of $1.

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.

For purposes of accounting, revenue is only recognized in the books when the following incidents have occurred: The sale is of a quantity of goods that is known for certain, and the selling price is [...]

ZBB, however, allows making changes to the project, to technological equipment, and to the design of products that were to be produced.

This paper discusses the importance of accounting, the main measurements considered in the preparation of the profit and loss account, and the limitations of the balance sheet inaccurately and comprehensively exhibiting the true financial position [...]

As the level of output increases the variable costs are incurred this means that the total costs also increase at the same rate. The variable costs are the costs that vary directly with the level [...]

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.

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.

The company selected for the current assignment is Walmart Inc.that is based in the United States but operates in the global market.

The analysis of the advantages and disadvantages of historical cost and revaluation models seems to highlight greater reliability of fair value than historical cost.

Net profit margin is a financial metric that shows "the ratio of net profits to revenues for a company". In 2016, the company's current ratio was equal to that of the previous year 0.59.

The audit procedures we undertook when investigating the audit risk areas of Wesfarmers are about the context of our audit process and our analysis of the financial statement of the company as a whole.

The cost of the services will depend on the amount of work that we are to accomplish and the level of expertise required.

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.

Ball argues that IFRS has an inherent advantage in the way it views the subject of quality in accounting. Conventional setters of accounting standards assessed quality in terms of the reliability and relevance of information [...]

The discussion describes the sales budget part of the master budget. Baby Cakes will need a budget to analyze the performance of the company and to become efficient in managing its expenditures by controlling waste [...]

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 [...]

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

In addition, the users of the system do not have to worry about downloading the latest version of the software. Sage 50 Pro Accounting is the latest version of the software.

The balance sheet for the Lemonade stand business is got from the data in the journal and the general ledger; and is a summary of the final figures for the account held by the Lemonade [...]

Zyla argues that the major similarity between these bodies that is the IASB and FASB is that they are both found in the accounting field.

Financial accounting refers to the type of accounting that deals with preparation of financial statements, using accounting techniques, for financial reporting.

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

The first group includes the expenditures related to the number of products it produces. Another type of expense that the company needs to focus on is the manufacturing overhead and nonmanufacturing costs.

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.

From the trial balance, the debit and credit entries are recorded, the entries are then adjusted to match the debit and credit to be equal.

The knowledge and dedication of the latter assist with contributing to the publicly reliable quality There are two types of such reviews: the system and the engagement one.

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 economic entity- Felix business on new venture is considered to be distinct from the owners who is Felix and any other firms like jewelry shops in the Zurich owned by Paula when preparing [...]

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 [...]

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.

Therefore, the arguments in defense of the rejection of historical costs reflect the interests of stakeholders interested in up-to-date information about the company.

Revenue is recognized as soon as the service or product is supplied to the customer. To achieve revenue recognition goals, accounting professionals must take the following actions: make contact with a client, and recognize revenue [...]

The expansion of Peta-Marron to Australia is a business process that requires detailed analysis of financial situation of the market and company.

It would be challenging to understand if the revenue recognition notion did not point out the importance of distinguishing the cash inflow for when each transaction is obligated.

The integration of big data and AI is one of the developing approaches in auditing. Although big data and AI are crucial trends in auditing, the use of big data is more concerning.

The income statement is also an instrument for the investors to analyze the company's profitability. However, it is often argued that the income statement might be misinterpreted by the investors, which is not beneficial for [...]

This review examines recent and not-recent empirical studies on audit quality and SMEs, discussing the importance of audit quality in SMEs and exploring the impact of various factors on audit quality. These studies have shown [...]

The accounting standards for equity investments provide the basis for fair and consistent reporting of investments in equity securities. The International Accounting Standards 39 and 40 and the Statement of Financial Accounting Standards No.

If the impairment test results in an impairment loss, the company must recognize the loss in its financial statements by reducing the carrying value of the acquired company's net assets and reporting the loss in [...]

In addition, accounting has become an integral part of almost any business, and therefore the widespread use of such methods leaves open the question of optimization and creation of a better approach, given the capabilities [...]

Therefore, the determinants of the net working capital of a venture are all items that directly contribute to the current assets and liabilities.