Accounting Essay Examples and Topics

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.

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.

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.

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 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 [...]

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.

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

It could be concluded that using IFRS over that of the US GAAP will result to less earnings because of timing of recognition of expenses. There is therefore basis to conclude that earnings under the [...]

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 [...]

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 [...]

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 [...]

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.

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 [...]

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

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

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.

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.

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.

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 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 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 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 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 [...]

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.

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

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.

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 [...]

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 [...]

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 [...]

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 [...]

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.

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 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 [...]

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 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 [...]

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 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 [...]

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

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 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 [...]

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.

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 [...]

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 [...]

It is also important to be mindful of the development of learning institutions that help shape the skills of accountants and finance professionals. However, it is also a reminder to create an effective hiring mechanism [...]

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 [...]

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 [...]

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 [...]

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 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 [...]

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 [...]

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

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.

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 [...]

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 [...]

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

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

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

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 primary purpose of the classification of costs in the management accounting system is the systematization of information about the quantitative and qualitative characteristics of costs for information and analytical support for managing an economic [...]

When the new agreement is enforced, division A will report a decrease in the cost of materials by $100,000. In the new agreement, the division will have a decline in corporate tax amounting to $273,000.

The ADA requirements influenced the fiscal and budgetary operations of American College Health Association in terms of enforcement of employment rights and observing the rights of employers and students with disabilities.

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

The IAS 16 allows both historical cost and valuation methods in accounting for tangible non-current assets based on asset recognition and measurement. The procurement cost of equipment is a valid cost, and the asset cost [...]

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 [...]

In a bottom-up approach, financial forecasting and reviewing of the same as part of the budget management process is critical. The advantage of including managers in the budgeting process is that a good communication between [...]

In addition, the efficiency would enable the entity to exploit the opportunities, which are available while selecting and applying the accounting policies.

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 [...]

By implication, government institutions act in accordance with the approved guidelines when publishing government expenditures and financial statements. To understand the implication of effective budgetary control, we must highlight the importance of the government-wide statement.

The reporting segment has been defined by this standard as a segment that is involved in the business activities of the entity and earns revenue for the entity and incurs expenditure for earning such revenue.

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.

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

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 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.

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

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 [...]

In the case of EEC, there is little value for this costing method due to the company's specialization in electricity provision.

According to researchers, shared value is approached differently as it implies that the scope of the business aligns with positive environmental impact.

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.

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 [...]

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.

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 [...]

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.

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 [...]

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

When they are considered, it is possible to draw up evident characteristics of the financial state of affairs in the organization.

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.

Management accounting considers the effectiveness of the application and the qualitative characteristics of accounting objects for the enterprise's activities. In this equation, assets reflect the total value of the property the organization has and is [...]

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.

Raju was not the only member of the company's establishing members that took part in the fraud. Despite the severity of these actions, the fraudulent activity was not limited to the assets within the company.

One of the solutions is that accountants need to organize the internal systems of economies to ensure that priority is given to projects that have value for the economies.

Therefore, the prevalence of unfavorable variances in the annual cost report cannot point to the negative performance of the facility. Firstly, Kemper can make the necessary corrections to the report in hopes that the corporate [...]

It is crucial to ensure that the assets listed on the balance sheet genuinely exist and are owned by the company, especially regarding property and equipment.

For instance, practicing accountants can explore the disadvantages of manual cash collections from this article and understand how technology can increase visibility, unlock hidden cash, and improve compliance.

Adjusting entries are reflected in the company's financial statements for the reporting period and may affect the perception of its financial well-being, helping recognize real expenses and income.

In this situation, the reports may forecast the impact of financial choices and accounting in a corporation. A pro forma statement, on the one hand, may be utilized in the planning process and is an [...]

A possible scenario explaining how money is missing is through the payroll department my first argument seeks to prove the payroll department as the loophole of the company's misfortunes.

The IRR is a discount rate that renders the NPV of all cash flows equal to zero when calculating the profitability of future investments. One of the benefits of NPV is that it provides a [...]

The fundamental principle of sustainability includes aspects related to the environment, the economy, and society and is ingrained in the long-term preservation of lifestyle quality.

Tangible and intangible assets should be appropriately accounted for preparing financial reporting to promote an accurate account of the business performance.

That means he should be able to charge fairly according to the time taken and perform a top-notch service to his customers so that they grow to trust in him and refer him to other [...]

Thus, one of the tools that can help achieve the best results is the use of managerial accounting. Moreover, the opportunity to predict the future of the company and how specific actions can financially cripple [...]

However, in the context of the situation studied, I believe there is no need to plan such reserves and prepare such operations.

The interest on the long-term debt will also form part of the expenses for the city in the financial plan for the next financial year.

Depreciation, depletion, and amortization is the collective name for a group of methods used to progressively apply some costs to expenses over a protracted amount of time. Depletion refers to the physical decline of a [...]

During the four-step process, accountants close revenue and expense accounts to an income summary, while closing dividend and income summary accounts to retained earnings.