Accounting Research Papers Samples For Students

AS 39 is used for an in-depth analysis and dictation of the principles that measure financial assets and liabilities. It also recognizes what contractors would use for the transactions involving assets that are otherwise not financial. IAS 39 for financial instruments came to be as a result of the international accounting standards board. Ideally, a financial instrument is identified when a contracting party becomes allied to the provisions of the instrument at a given time. The IAS 39 comes into play as a measuring factor for the value of such an instrument. It classifies the instrument into the respective a category that is dependent upon ...

IAS 39 Financial Instruments, comprising of recognition and Measurement is an accounting standard used internationally for financial instruments. It was released by International Accounting Standards Board (IASB). Its main purpose is to outline requirements that were needed for the recognition and measuring of financial; assets, liabilities and contracts that are used in the buying or selling of items that are non-financial. The instruments become recognized when the entity becomes a party. IAS 39 came into use on December 2003 and applied to the annual periods that begun on and after 1st January 2005.

It would be swapped and interchanged ...

An Accounting Information System (AIS) refers to the structure used by a business to collect, process, manage, store, retrieve, and report business related data. Business analysts, accountants, managers, consultants, auditors, tax agencies, and chief financial officers use such information in making crucial business decisions (Gelinas, Dull, and Wheeler, 2012). Professional accountants work with AIS in deriving financial data with high levels of accuracy in record keeping, and avail this information to decision makers (Hall, 2013). AIS also ensure that the data used by accountants remain secure and intact and that it is only availed to legitimate users.
AIS are ...

Abstract

This report analyzes the case of Enron and its failure. The practices adopted by the management have been analyzed and criticized in order to identify the main cause behind the whole issue. Along with this, the report also suggests different solutions and recommendations for the management in order to minimize or stop the risk of such issues in the future. The report has also highlighted the importance of Information System in this case. Moreover, the report presents suggestions regarding how the implementation of Information System can help the management to avoid such issues.

Organizational analysis: Enron

Enron scandal is one of the ...

The Advantages of a Student Taking the CMA Exams Prior to Graduation

The Certified Management Accountant (CMA) is an accounting program intended to provide individuals in the accounting field with the broadened professional skills in the managerial accounting arena. The CMA exams are issued in most countries throughout the world. The exams employ a unique combination of pecuniary proficiency, tactical acumen, creative and critical thinking, as well as unified approach to help promote successful businesses all over the world. Management accountants across the world argue that the exam improves their competency through guided management accounting procedures that the course provides.
While the CMA exams can be taken by practising accountants with ...

Accounting 101

Deciding on Accounting Major
If I had to decide on the accounting major to pursue, I would choose to be a forensic accountant. This major of accounting deals with the investigation of potential frauds within a company, or prevention of fraudulent activities from occurring. Forensic accountants are also commonly known as fraud investigators, investigative accountants, forensic auditors, or fraud auditors. Of all possible accounting majors, this one attracts me the most due to a number of reasons, including the history of this major, the variety of potential employment places, the nature of the job itself, and the knowledge and skills commonly ...

Summary of a Staff Accounting Bulletin No. 94 and an FASB Exposure Draft

Part 1: Own words summary of the accounting treatment to a non-accounting major
The aspect of accounting is fundamentally conceptualized on the basic principle that an entity owned for commercial purposes (capital) added to an entity held but owed to someone else (liability) yields a total sum of an individual’s owning (Assets) as at the particular time of carrying out the evaluation. This represents the basic accounting principle of Capital+ Liabilities= Assets from which other accounting principles arise. For purposes of establishing an individual’s true worth in the context of asset ownership, liabilities are deducted from the assets ...

Introduction

The present day corporate world is well aware of the increasing cases of accounting fraud. Governments and regulatory bodies are finding themselves in embarrassing situations after corporation’s collapse, even after receiving a clean bill of financial health from their auditors, a landmark case being that of Enron. These incidences have led to the accounting regulatory bodies, securities regulatory bodies and other government institutions mandated with the regulation of the accounting profession to demand that auditors are accountable for their actions or omissions in the performance of their duties. In the case study below however, there is a conflict of the law ...

a. Purpose of Managerial Accounting
Managerial accounting is the process of preparing accounts and management reports that provide timely and accurate statistical and financial information. Managers require such information in making short and long term decisions (Wild, Shaw and Chiappetta, 2013). Unlike financial accounting that produces annual reports used by external stakeholders, management accounting generates reports means for an internal audience and use.
The objective of management accounting is to improve on the effectiveness of both control functions and management planning. Management accounting serves four functions; cost control, cost evaluation, management planning and performance evaluation. It provides ...

Sector 1: Analysis on Real Estate

The survey ha 190 questionnaires issued to the people in real estate and the result findings shows that only a few women were interested real estate as men were leading with 60%. More of the surveyed people were Arabs with the majority of staff being youths. Those in the real estate seem to have been schooled properly as about 70% are graduates and above. The real estate seem to be doing well as the most people are paid above 5000diarham. A larger percent of 70% were not informed about the social environment accounting resulting to over 65% of the people ...

Compare the Notes to Consolidated Financial Statements

Compare the Notes to Consolidated Financial Statements
The company of my choice is Coach Inc. and its closest competitor is Michael Kors. Michael Kors was chosen as it belongs to the same industry as Coach and has nearly the same characteristics as it. This means it is its closest competitor available considering the scope of the business. Comparison of the two consolidated financial statement will make Coach aware of where and when they went wrong in order to try and rectify in the future. This will enable them to plan effectively and analyze their previous cases hence enabling ...

Introduction

Accounting and Finance are two different fields, but most of the people associated both of them are identical. However, the concepts of both of these provisions are totally different from each other. Accounting is the name of recording the day to day transaction, while finance is the name of utilizing the funds of the company at a place from where the likelihood of earning would be on a higher node.
Both of the concepts of Accounting and finance are two important things from the standpoint of an organization and no organization could be in the line of economically based prosperity ...

Financial management in health care organizations

Introduction
Health care organizations are those organizations that do operate in a non-profit making basis. These kinds of organizations are service providers that are slightly different from the manufacturing businesses; they mainly offer health care services to their clients (Murray, 2010). Even though they are non-profit making institutions, they still have sources of revenue and areas of spending. The first view is the financial perspective. Manager of the health care organizations is receiving finances from various areas, from the service delivered, from the sale of drugs, from the ward beds, laboratory checkups and many other activities. The managers also ...

IFRS 9 and IAS 39

Introduction
Laws and Regulations prevail in almost every field, and it is very important for the organizations to comply with these regulations and standards for their competitiveness and sustainability. Apart from the traditional regulations of managing and maintaining a company, there are certain regulations that specifically associated with the financial management. Entities are required to manage their financial transactions according to the prescribed methods and techniques covered and initiated by International Financial Reporting Standards (IFRS) (Iasplus.com, p.45). IFRS are designed specifically to serve as a common global language for all the business affairs. Generally, it is used to compare and ...

- Methods used by Enron to manipulate accounting figures
The fall of Enron was one of the highly publicised corporate failures. The directors of the company manipulated the financial statements of the company to mislead users of accounting information. The methods used by the firm included mark-to-market and off-balance sheet financing as well as interference with auditor independence.

Mark-to-market accounting

Enron changed its revenue recognition policy from the traditional revenue recognition principle to mark-to-market accounting. As an energy company, Enron’s incomes were derived from mainly the sale of natural gas. As a practice, Enron entered into several long-term contracts with ...

Abstract

The 2008 financial crisis provides several examples that can now be cited to illustrate the entire financial system’s vulnerabilities and ample room for improvement. This paper uses the Satyam fraud case to illustrate the ruses and machinations utilized both internally and externally by those publically entrusted to easily perpetrate fraud on a grand scale. The paper cites the methods used to carry out the fraud and the major events leading to the fraud being revealed followed by the monetary, commercial, and public damage the scandal caused. The paper will show how top management with both internal and external auditors ...

Part One: Labor Market Research

In general, an entry level accountant will need a bachelor’s degree, but more and more companies are asking for experience. So the problem for out-of-school college graduates is the onus to build experience even before they have landed their first job. According to Payscale, the median salary of an Accountant in the United States is $46,164. Note this is the median salary, so this means half of accountants make less than $46,164, and half of accountants make more than this amount. Geography certainly plays into the calibration of salary. According to the United States Department of Labor ...

Why Study Accounting?

People have varying reasons as to why they study accounting. According to Don Balla in the article “Top Five “Top Five Lists” of reasons to Study Accounting” (Balla, 2014), these reasons are:

What is accounting?

Accounting has different varying definitions. However, the familiar explanation is that it is the technique of recording financial transactions. According to Harold Averkamp in his article, “what is accounting”, it involves; storing of financial transactions, andsorting out these transactions, retrieving them. Summarizing the transactions, as well as presenting the data obtained in different reports and analysis is also a process of accounting. Accounting has various parts i.e. financial ...

Introduction

With the emergence of a global competition, every business faces a challenge to capture more market share by improving the bottom line of its financial statements and reinvesting much of the earnings to expand operations. For this organizations implement tight internal controls so that none of the business transaction goes unchecked. In this regard, an auditor’s role is critical to track any possibility of fraudulent activity within the business finance.
With such a concept in mind, this paper has been written to identify the roles and responsibilities which an internal auditor assumes within an organization. The major focus of this ...

Global Crossing Limited is an example to all regarding the failure of a proper audit of financial statements. It was a telecommunication company which had gone through the scandal in 2001. The scandal was caused due to reporting of the financial statements against the audit purpose. The management is highly responsible for the preparation and presentation of the financial statement, the auditors and the management did not exercise professional care and did not investigate about many issues which were wrongly reported in the financial statements. This led to the downfall of a highly ambitious company. The company went through five chief executives ...

1 Introduction
This research paper discusses the history of financial auditing. Studies indicate that financial auditing has been evolving through many stages. In the 18th century, the practice of financial auditing was a traditional conformance to the role of auditing. It is clear that the auditing paradigm has been changing and will continue shifting into the future. Financial auditing originated from checking procedures in ancient civilizations such as Greece, Egypt and China. The industrial revolution period established the role of financial auditing. The Institute of Certified Public Accountants in America and The SEC (Securities Exchange Commission) play a critical role ...

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Enron was believed to be one of the leading, innovative corporations of the world. The company that received the “America’s Most Innovative Company” award for six years in a row by Fortune magazine saw a sudden fall in 2001 and shocked the entire industry. The fall of the giant corporation did not only affect the industry but also shattered the dreams of the employees and stockholders of the company who had been bedazzled by the great profits.
The factors behind the fall of this huge corporations were never identified before ...

Costing Methods

It would be preferable to use absorption costing method. Absorption costing applies some of the fixed costs when determining per unit cost. In this instance, the fixed manufacturing overheads have been applied proportionately to the units manufactured and sold. The fixed manufacturing overheads are applied to all the units that have been manufactured. This ensures that the cost of the units sold during the accounting year is not inflated by applying all of it to the sold units as is the case with variable costing (Davis & Davis, 2012). A proportion of this cost is charged to the closing inventory ...

Broadening the managerial perspective involves implementing new methods of accounting and reporting of the financial data. Managerial perspective should not be limited to whatever that has been done in the organization, new techniques as well as innovative methods to report the transactions should be developed. Managers have a tendency to continue with whatever practices that are being implemented in an organization, sometimes managers are averse to any occurrence of change. Broadening the perspective into new methods of reporting benefits the organization as a whole. Managers also do not wish to take risk for any changes in the organization as it might ...

Introduction

A recent research on management accounting culture change established how accounting practices are woven into the cultural fabric of any organization. The study adopted and explored theories of a series of cultural change interventions related to management accounting. The traditional accounting methods involved process costing, standard costing and job-order costing. The evolution of business environment was considered efficient because of its role in the accounting techniques. The new methods labeled as advanced management techniques were considered to provide tools of achieving a competitive edge. They include Kaizen costing, activity-based costing, value-added accounting, cost of quality, strategic management accounting and back-flush costing. ...

Introduction: Need for regulatory environment

It was the time of early 2000’s when the headlines of major newspaper were full of corporate fraud and the companies filing for the bankruptcies. Most of the companies were involved in the accounting restatements, i.e. major corrections of their financial statements and the count of such companies were growing everyday and were also posing a major impact over the stock market performance. Although the list was exhaustive, but the major corporations, that were found to be involved in the financial scandals were:
- Enron
- Worldcom
- Xerox
- Sunbeam
- Adelphia
...

International Financial Reporting Standards (IFRS) are now the most widely used accounting standard around the world now with over 12000 companies in 113 countries adopting the IFRS standards in their financial reporting. However, despite of enhanced reach of IFRS standards now, the United States is still following their conventional GAAP standards and now there is a growing demand in the nation to adopt the IFRS standards.The paper will analyze the benefits and costs associated with the adoption of IFRS standards in the United States:

Benefits of adoption of IFRS in the United States:

a) Global Comparability and Better access to foreign capital markets and investments:
The first and the ...

Introduction

A financial statement refers to a report that gives the summary of how the funds entrusted to the firm by the shareholders or lenders have been used, as well as its financial position at the moment (Financial Statement, n. d.). There are different types of financial statements in accountings (Accounting-Simplified.com. n. d.):
Income Statement (Profit and Loss Statement): The statement reports the financial performance of the company given as the net profit/loss for over a given period. It consists of two elements, which are income and expense. The net profit/loss is given by the income minus the expenses.
...

Post the Globalization era, the financial scandal of Enron and then the global economic and financial meltdown has raised the issue of convergence of the accounting standards. This is because both of the prevailing accounting standard, IFRS and GAAP, have different rules in their accounting standards, it has caused quite a complexity in the accounting world which is disclosed below:
- It causes difficulty and complexity in comparison on financial statements. For instance, if an investor is analyzing an Australian Company and an American company in the same industry, where the Australian company is using IFRS Standards while US ...

MS Dynamics GP refers to a mid-market ERP or accounting software package popular in both South and North America, Middle East, New Zealand, Ireland, UK, Australia and Singapore. It is also widely used in other countries alongside localizations that are partner supported. It stores data using MS SQL Server 2012, 2008 and 2005.
Dexterity is the language used to write Dynamics GP. It was first developed by a company known as Great Plains Software which made its first release in 1993. It was one of the pioneer accounting packages developed in USA applicable as multi-user as well as run on ...

Introduction

The main perspective of this assignment is to make a comparison between two different accounting standards which particularly are International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP). It is required to analyze both the accounting framework from four different angles that will be executed after analytical framework.

Analytical Framework

IFRS is the most widely chosen accounting standards that are taken into practice by many of the companies. The term IFRS is generally referred as “International Financial Reporting Standards” that is formulated to bring all business issues based on a platform of global identical language that helps to understand the company’ ...

Introduction

An accounting framework essentially influences the way business entities delineates success. Traditional accounting predominantly concentrates on increasing the shareholder value while also influencing the bottom lines of the business in terms of its finances. However, an growing number of corporations now-a-days, are primarily interested in either the so called “double” or “triple” bottom line accounting. Their focus is not just on measuring the impact their business practices have on the financial bottom line, but also upon the impact their business practices have on their personnel, the societies in which they operate, as well as the environment surrounding them.
...

- The issue:

- Summary of authorities.
Code 61(a) attempts to define gross income, for the purposes of taxation, as all incomes derived from sources such as: compensation for services e.g. fees, commissions and fringe benefits, interest, rent, dividends, royalties, annuities, pensions, gross income derived from business. It also states that the definition for gross income includes all the above types of incomes but it is not limited to those sources. Reg-1-61-2 summarizes gross income to mean all incomes earned as compensation for services, including fees, commissions and other similar items.
According to Sec. 451(a), items of ...

Introduction.

The Public Company Accounting Oversight Board (PCAOB) is a governmental nonprofit making corporation which was established by the Congress, in the Sarbanes- Oxley Act of 2002, to steer and oversee the public companies’ audits with the sole aim of protecting the interests of investors and the general public by ensuring that the preparation of accurate, informative and independent audit reports. PCAOB is further mandated to look into the audit of broker dealers and put checks on their activities so as to protect the investors against any kind of potential exploitation.

Being a national corporation, the PCAOB operates in the best interest ...

Research paper on employee motivation

Literature review
Performance management is the process where managers employ techniques that bring all the players in the organization together in order to improve management and performance of both the individual and the organization. Individuals within the firm are encouraged to take responsibility for the continuous development and improvement of both their skills and organizational goals. It is more of a culture development endeavor rather than a management decision for a temporal fix. By employing effective performance, a collaborative approach is applied to the individual performance and the effect it has on the performance of the team/ organization. Weiss and Hartle (1997) ...

Enron Company by Kenneth Lay in 1985 began its operation after the merger of two companies, Houston Natural Gas and InterNorth Company. Under Kenneth Lay as the Chief Executive Officer of the company, the company started hiring employees. The company had a significant number of 21, 000 employees and an outstanding production performance. Its headquarters was situated in Houston, Texas. After the merger of the two companies, Enron was praised for its effective strategies of penetrating the market and acquiring a significant income. Its main objective was to create market for further expansion and diversification. The company employed some measures in ...

[Author’s Name]
The organizations are very important for economies and economic development, while some economists said that organizations are the life blood of any economy. This is because organizations do business in economy which provides number of benefits like job opportunity. Payment of handsome amount of a region`s tax and utilizes the domestic resources. This process continues as the employed people of these businesses contribute to the economy by spending the money from their earning, and resources needed by organizations further contribute to the economy by providing employment and capital to the vendors of the resources (Chung & ...

Introduction

The introduction of modern technology in the accounting discipline has made the otherwise hectic and cumbersome mathematical computations much easier. Accounting involves the analysis of business information, in many cases this information is represented numerically. There has been transformations from the time when mathematical calculations would be done manually or using battery operated calculators, to today where the accounting software does all the computations.
Computers, scanners, printers, and faxes are some of the technological equipment that have facilitated and transformed the world of accounting. The prices of this equipment are also affordable and, therefore, the number of people ...

1. Given the corporate ethical breaches in recent times, assess whether or not you believe that the current business and regulatory environment is more conducive to ethical behavior. Provide support for your answer.
Unethical conduct has been all-pervasive in all sorts of business for the last few decades. Many changes have taken shape in the business environment giving rise to immoral behavior and the inclination for corruption. Unethical accounting behavior is the consequence of the growing corruption that has engulfed the corporate world. After the unethical accounting scandals like the Enron, WorldCom, Peregrine Systems, Adelphia and Tyco International ...

The most important skills that a forensic accountant needs to possess.

Forensic accountants assist individuals and organizations by the provision of management support in the form of reviews of fraud, detection, and litigation. Their prime involvement follows a discovery or suspected fraud that requires investigations. Additionally, they consider issues such as the effects that fraud investigations might have on relationships between employees, management, and corporate image (Singleton and Singleton, 2010).
Consequently, it is crucial that a forensic accountant possess more that the fundamental skills and knowledge of auditing and accounting. Indeed, auditing forms a platform for a forensic accountant by its ability to the provision of an understanding of internal controls and materiality ...

CHAPTER ONE

1.0 Introduction
This chapter provides the background to the study. It details the problem statement, research objectives and research questions.
1.1: Background of the Study
As businesses grow out of the start-up period and expand their capital and operation, size and product or service offerings, their accounting based informational needs some changes (Bodnar, 2010). Most small business start-ups begin with an off-the-rack accounting based package for instance Peachtree or QuickBooks and run the basic accounting reports from them. However, there comes a time when the environment, government, accounting rules and standard and other technological based factors force ...

Managerial and financial accountants perform the accounting functions in the organization. Accounting entails the allocation, management, reporting and disbursement of funds and finances within the organization. In modern management the role of accounting cannot be ignored. Accountants play a fundamental role that in the end determines the efficiency and successful operations of the organization. The paper shall examine the roles and functions of managerial and financial accountants.
Managerial accountants are in-charge of budgeting, forecasting, allocation and regulation of finances within the organization. In that context, managerial accountants see to it that organizational finances are well distributed and allocated in ...

Introduction

Accounting for leases may be complicated by the proposed changes that by FASB and IASB. These two independent bodies aim at altering lease accounting in a view to improve the accounting treatment of leases. The two bodies, which are responsible for setting, accounting standards have the proposed changes in the exposure draft. However, the changes are poised to have certain complications as far as lease accounting is concerned. The complications are expected to impact the business world currently and in the future (Bosco, 2011).

Complication on renewal option

The proposed changes involve a subjective judgment on the lease term. The management must consider any potential ...

In accounting, a firm has the option of reporting in three different levels. It should be appreciated that all the three levels are important in the overall accounting process and that each level plays a complimentary role to one another. The three levels of accounting are as follows: compilation, review and auditing. The paper shall discuss each level with a brief explanation of what they entail.
The accounting reporting process begins at the compilation level. Compilation refers to the process in which accounting entries are made and the accounting statements of accounting statements are prepared. It is in this stage that ...

Management Memorandum

The main purpose of this memo is to clarify on some issues based on the LIFO inventory management of stock. Over the recent past, it has been noted with a lot of concern that the cost of managing the stock has been tremendously increasing. As a result, some of the existing policies have been modified to rectify the situation while other new policies have been put in place to enable a smooth flow of inventories with no major cost challenges. Increasing stock costs has resulted into the firm incurring increasing losses due to increased costs.
After a comparative study of the stock ...

Introduction

The quality of accounting standards influences the efficiency in the functioning of the economy. This is because the decisions regarding the allocation of resources to different sectors are heavily reliant on understandable and credible information. The accounting profession in addition to those that produce and utilize financial statements is facing challenging and difficult practical and conceptual issues. Deep-seated differences exist between contrasting regulatory philosophies and established rational approaches. Over time, the looming question has been the degrees of detail required in setting standards for the profession. Another looming question has been whether the standards established should attempt to describe ...

Introduction

As a manager, one has to undertake a series of decisions on how the organization and people should conduct themselves and perform. Managers may at times be required to delegate their roles depending on the kind of work. Employees also need to perform well and have the support and confidence of their managers to achieve their potential. To be a good leader, one has to adjust their behaviour to suit that of a leader. Changing behaviour is a process that must be followed carefully. The manager must also use participative management when dealing with a team of several employees. They need to use motivational strategies ...

Business Law: ENRON SCANDAL

Introduction
The scandal that is Enron stands out among other corporate scandals such as WorldComm, Global Crossing. At Enron, the situation is illustrated of how the free enterprise system in the United States of America and the unregulated trust vested on auditors can be abused by a group of selfish and individualistic capitalists determined to make good of a bad situation. The case also illustratively points out the effects of corporate pressure from the shareholders on the management and the weaknesses of the stewardship concept of management of shareholders wealth. Enron puts a clear case of the need to have strong ethical ...

Introduction

International accounting is referred to as the accounting records reporting and principles practiced by difference countries around the globe. This include the international and regional harmonization, the risks involved in foreign exchange, the patterns and classifications of accounting in all the developing and communist countries, foreign currency translation and e.t.c. it encompasses a variety of functional areas, namely the managerial, financial, taxation, the information system of accounting and auditing (Choi & Mueller p.12).
International accounting is a key element in making investment decision since companies are able to translate all their annual financial report into different foreign languages thus facilitating their ...

Quality if information constitutes a critical that influence the success of organization in today’s highly competitive business environment. Accounting information systems (AIS) as a component of information systems require high quality data. In order to respond adequately to global competition, an organization should respond to changes in its environment by increasing the ability of its economic capabilities. In addition, globalization of the economy has forced many organizations to adapt in order to survive. It is import to define the term AIS in order to understand data quality issues that influence the success of an AIS development. AIS is a division of ...

Abstract

The relationship between Total Quality Management (TQM) and managerial accounting lies in that fact that managerial accounting concerns itself with decision making in an organization. Apparently, management accounting is one of the mechanisms that an organization relies on for the generation of information used in decision making. Total Quality Management (TQM), a management philosophy that has its roots in the Japanese traditional management systems has become increasingly popular. This paper, which assumes the structure of a literature review plus some additional research, seeks to explain the relationship between the two key concepts, which are Total Quality Management (TQM) and Managerial accounting. ...

Accounting profession requires a lot of skills and ethical knowledge. This is because there are numerous temptations that accountants face such as pressures to satisfy investors or to maintain an upward revenue growth. As such, ethics are essential since accountants who maintain ethical behaviours are able to develop inner strength. This helps them to make ethical decisions which will ensure that a firm prospers in the long run. A professional accountant is expected to possess various principles. These principles include objectivity, integrity, professional behaviour, confidentiality, and professional competence. This paper discusses whether the current business and regulatory environment is conducive for ...

Introduction

The purpose of this article “accounting, organizations and society” is provision of guidelines to researchers, readers and editors on what they should expect when dealing with any article about accounting. It gives the definition of accounting theory as the assumptions, frameworks and methodologies used in the application and study of principles related to finances or financials. The term introduction means it is the beginning of everything included in journal used initially but since it is introduction, it will tend to explain the usage of tables, charts and figures. It also involves reviewing both the verification of the accounting practices ...

Introduction

Accounting is viewed by many people as a cold, dry, and highly analytical discipline. As a discipline, accounting offers precise answers, which are either correct or incorrect. The answers provided by accounting may be true or false (Richard, 2011, p.6). For instance, let us take two companies which are similar in the value of their inventory and cost of goods sold calculated using different accounting methods. Company A uses last in first out (LIFO) method while company B uses first in first out (FIFO) method, and in the process, give results that are totally different but equally correct. Considering that both ...

Executive summary.

On 5th of December 2010 the American giant company in the field of pharmaceuticals announced its intention to acquire the Dutch company crucell which was in which it had already controlled 17.5% at a price of $2.3 billion, which would be a price of 24.75 Euros per share which was a purchase price 58% above the actual closing day price of the share ant thus crucell would have recorded a capital gain per share of 14.36 Euros. The company was to acquire 98.98 % of the issued crucell share. crucell was acquire to be acquired in multiple steps with the period of February 23 ...

Meaning, Completion and Implementation of the Accounting convergence

IFRS is the framework of accounting employed by economic leaders globally like Japan, Canada and European Union among others. This accounting framework is founded on the reliability, comparability and understandability tenets. It employs the International Accounting Standards (IAS) and has over time gathered, built and incorporated accounting principles and ideas that are globally used (Saudagaran, 2009).
The U.S. GAAP framework is a conglomeration of rules used to demonstrate how to account for transactions in an appropriate manner. This accounting approach presents the transactions with full disclosure, consistency and reliability. The level of clarity makes it easier for even for ...

The cost accounting system that an organization chooses to use is determined by many factors. Key among the determining factors is the business the organization carries out. For instance, an organization offering services and having distinct jobs for its workforce will elect to go by the job order costing system of accounting (Shim & Siegel, 2009). On the other hand, an organization dealing in the production of goods, especially identical units, will opt to use the process costing system of accounting. In simple terms, the products of the organization are the determinants of the system since costs relate directly to ...

Companies rely on their accounting department to ensure that the organizations finance is well recorded and accounted accurately in order to assess the financial situation of the company. However, regardless of the size of the company, accounting issues still occurs at some point because of inefficiencies. AT&T and T-Mobile, which are among the biggest names in wireless telecommunications service also experiences problem with accounting due to some factors. AT&T for example experience discrepancies in accounting, payroll and pension distribution. The problem begins when the company receives disputes from its employees regarding payroll and mount of petitions on pension benefits ...

Enron Corporation was one of the world’s top electricity corporations that underwent a financial indignity, which involved Enron and its bookkeeping company. The scandal comprised of the detection of unbalanced accounting techniques, which occurred through the 1990s. This resulted in Enron filing for insolvency in December of 2001 (Thomas, 2002). The aim of this paper is to define how organizational behavior theories could have anticipated or illuminated Enron’s failures.
Organizational behavior, is described as an area of study that explores the influence that groups, individuals, and structure have on performance inside the organizations for the aim of ...

ABSTRACT.

FASB and IASB have been known to have conflicting interests in accounting systems and standards. The frameworks adopted by the two boards differ fundamentally in the application and use. The two boards apply different conceptual frameworks that create differences in accounting measures and uses of financial information. The boards apply similar characteristics in deriving conclusions. However, the ranking of these characteristics is different in the two boards. Recently, the boards have come up with a project that aims at revisiting their frameworks. This intends to provide a common framework that can be used for local and international financial accounting. This paper ...