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.
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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 [...]
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.
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.
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 [...]
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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 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 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.
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.
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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 [...]
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.
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 [...]
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 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 [...]
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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 [...]
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 [...]
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 [...]
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 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.
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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 [...]
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.
The first section of the professional code of conduct expounds that members of AICPA are supposed to act in the most honorable manner.
Therefore, job order costing in a production company involves allocating costs to inventory and after that cost of sales when the job is finished.
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.
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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.
The farming industry of the nature of John and Mary falls in this category however with such a management accounting system like the one portrayed, then the management is likely to be more easy and [...]
The Website of the accounting software recommends a system configuration of "1 GHz Intel Pentium III for single user and 1.
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 [...]
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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 [...]
In the use of the intranet all the personnel that carry out their activities in the hospital are served and especially the top management of the hospital, the hospital uses an information management system and [...]
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.
Due to fluctuations in economies, all organizations need to take into consideration concepts of the time value of money in any investment venture.
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.
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Apple’s most significant sources of cash from operating activities in 2016-2018 are net income, depreciation and amortization, and accounts payable.
Before any sale, the ownership of goods or services is the entity that is selling or providing to the buyer. The work of the agent is to source for the airline the fits the customer's [...]
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 move will require the government to analyze tax implications and determine whether making the tax approach conforms to the method allowed by the standards.
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 [...]
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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 [...]
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.
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.
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 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.
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The Texas State Board of Public Accountancy was formed with an aim of "protecting the public by ensuring that persons issued certificates as certified public accountants possess the necessary education, skills, and capabilities and that [...]
ZBB, however, allows making changes to the project, to technological equipment, and to the design of products that were to be produced.
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 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.
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.
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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 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 [...]
Making the transition to IAS will affect the financial records of XYZ Corporation The transition from GAAP to IAS by XYZ Corporation will cause significant changes in the financial records of the corporation.
The key measure of a corporation's capital structure is the ratio of debt and equity capital used in gathering funds to sustain the corporation's assets.
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.
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In the current paper, the author will highlight the different roles of the internal auditor. The work of the internal auditor is to detect these risks.
The analysis of the advantages and disadvantages of historical cost and revaluation models seems to highlight greater reliability of fair value than historical cost.
The objectives of the audit are to identify and describe the objectives of the audit engagement and services that will be provided to the client by the audit team and to define the responsibilities of [...]
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.
Since the profession entails a process of discovering, appraising, and stating of economic information to allow knowledgeable verdict and determination by those who apply the information, it is important to be aware of the vices [...]
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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.
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 authors maintained research trying to identify a system that provides the most benefit to the organization and stopped on the utilization of the long-term variable cost.
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 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 [...]
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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 design connects the conceptual research challenge to relevant and doable empirical research. Interviews provided accurate and consistent data relevant to the research questions.
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 [...]
Julphar Pharmaceutical Company is one of the leading organizations in the pharmacological industry in the United Arab Emirates and the Gulf.
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 [...]
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Additionally, investors use accounting information to access the degree of risks related to their investment in the organization. The managers are expected to run the organization in the interest of the owner.
The graphical representation of the sales cycle assisted the auditor in analyzing the strengths and weaknesses of the company's control activities.
Variations in the levels of legal accountability and responsibility have various advantages and disadvantages depending on the nature of the risks and vulnerability of actions and decisions undertaken by the professional.
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.
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 [...]
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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 [...]
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 [...]
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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.
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 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 [...]
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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.
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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 [...]
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Accountants begin to record business transactions in the general journal and eventually post the entries in the respective accounts of the general ledger.
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.
In 1 Peza Inc, I was introduced to both kinds of accounting financial and management. In addition, being responsible for payrolls in the company enhanced my confidence and deepened my knowledge of financial accounting.
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 [...]
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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.
First of all, it is necessary to consider the tactic aspects as a mission and participants of the financial accounting standard board.
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 [...]
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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.
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.
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.
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.
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.
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This separation is due to the difference in goals and objectives, solved in the interests of external and internal users of information.
Moreover, the state bodies themselves, by receiving donations to funds and fixing it in a complicated system, get the opportunity to control the costs of citizens: their number, frequency, and concentration.
In 2016, the budgeted and actual expenses were less than the revenue generated, indicating that the company attained profit during this fiscal year.
An example of such a model for a manufacturing company that combines the integrative approach of MFCA and BSC is shown in Table 1.
However, due to the complexity of the maritime transportation industry, the position of a manager in accounting becomes even more critical, and the responsibilities of this job are more extended.
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In this case, it is possible to expect that her morale and motivation will be high, which will be beneficial for the company.
The accounting and financial practices will allocate the required resources and support to the HR department. The HR department will also be required to promote the wellbeing of all workers, including those in the accounting [...]
The conditions for doing so include the technical feasibility, willingness of the company to fulfill the development, ability to use the asset, and the monetary benefits of its production.
The report below indicates the structure of the final report and highlights the model that the team will apply when filling the excel workbook and its benefits.