Managerial accounting as the name suggests provides information to the internal users of accounts. Internal users include executives, product managers, and sales managers to name a few. Any other user within the organization may also benefit from managerial accounting methods and use the compiled information to make informed decisions that would affect the financial performance of the company. As the information gathered is for internal users there is no compulsion that the data should abide by US GAAP rules (Heisenger & Hoyle, 2013). For example, a sports good manufacturer may add the non-production costs to the inventory as the internal Continue reading...
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Essays on Accounting
Anti-Bribery Provision Essay Samples
The Foreign Corrupt Practices Act (FCPA) was adopted by the US Congress in 1977 after the outgrowth of the Watergate Scandal and a series of other situations in the period. The statute was implemented to deter bribery of foreign officials in connection to business deals and activities (Deming 3). The statute uses to principles in carrying out its purpose. The first principle is the general prohibition concerning the payment of foreign officials that applies to U.S. nationals and corporations under the U.S. laws or their main place of business is within the U.S. the principle also governs corporations that Continue reading...
Good Example Of Admission Essay On Master In Finance Programme
Choosing to work for Quantum Mortgage Brokers, a small real estate brokerage firm, was indeed one of the best decision of my life, which I took at the onset of my professional career. The small setting in the organization helped me in gaining a holistic and practical understanding of the accounting world. The very ethical and dynamic accounting job, paved my thoughts to rise fast through the career.
In the beginning of my career as an accountant, my responsibilities in Quantum Mortgage Brokers revolved around preparation of vouchers, monthly reconciliation and the preparation of the financial statements. However, soon Continue reading...
Sample Article Review On Consumer Behavior
Mental accounting is a group of cognitive operations that households and individuals use individuals to organise, evaluate, and keep track of business operations. The article summarises the current state of our components of mental knowledge about how people engage in mental accounting. The article is a depth analysis of mental accounting in relation to personal decision-making. The author starts by introducing mental accounting. According to the author, the difference between mental accounting and financial and managerial accounting is the fact that mental accounting involves households and individuals and not organisations.
The other also highlights the process of mental decision-making. Continue reading...
Free Article Review On Consumer Behavior
Summary: Consumer Behavior
Mental accounting can be said to be a set of cognitive operations that households and individuals use to organize, evaluate and keep track of their financial activities. This paper gives a summary about our current understanding about the nature of people’s engagement in mental accounting techniques. This paper concentrates on the three components of mental accounting. The first one is concerned with how people perceive and experience outcomes, and how decisions are made and then evaluated. For example, a consumer choice can be understood by incorporating value of the deal. The second component of mental accounting involves assigning Continue reading...
Free Accounting Information Systems Research Paper Example
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 Continue reading...
Good Essay On Different Topics Of An Accounting
This essay consists of three parts. In the first part of this essay, the financial analysis of the Small Company Ltd. has been made by using the ratio analysis tool. Some of the most important ratios for this company have been calculated by using the financial information for the two years (i.e. 2012 & 2013). Moreover, important areas of the business are also highlighted that requires the greatest attention and the concentration of the management of this company.
Second part of the essay includes some healthy discussions on the stakeholders of the company and also the discussion Continue reading...
Free Research Paper About Organizational Analysis: Enron
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 Continue reading...
Good Research Paper About Accounting
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 Continue reading...
Good Example Of Accounting: Barings Bank Essay
The collapse of both Barings Bank and Enron brought some insight and worthy lesson that can be adapted in accounting in its various capacities. Their failures among other big corporations have indeed brought the need of the proper understanding accounting in its qualitative, independent and objective aspects. As it was noted in Brown’s “Making sense of the collapse of Barings Bank, Human Relations” contributions, accounting and the various practices involved in it produces various texts that include; press releases, annual reports and even security regulator documents. They give a company’s story over a specific period of time.
Essay On Control Procedures
Control procedures in accounting entail steps and measures that a company’s uses to ensure that the financial reports received are valid and accurate. Organizations observe control procedures to minimize and identify the cases of accounting fraud. Furthermore, companies need control procedures in accounting to ensure that they forward accurate financial statements to tax agents. Control procedures ensure that the firm’s bookkeeping process remains transparent. The paper identifies various control methods used in accounting practice.
The first control measure in accounting entails checking organization’s reports to ensure to ascertain the validity of the entered data. Accountants perform Continue reading...
John Mclane Research Paper
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 Continue reading...
Good Example Of Networking Essay
The interview with Mr. Winston was very helpful to me. I learnt a lot that could be of assistance to me. As Mr. Winston said, that people in the business field ought to be good time managers. He explains that his success in school, work and business is attributed to one important skill he learnt in school, and that is time management. Mr. Winston`s day starts at 3.00 AM and ends at 10.00 PM daily since he joined high school. Secondly, networking was the key in helping him secure for a job in Ford. He cited one point Continue reading...
Education Is Our Passport To The Future, For Tomorrow Belongs To The People Who Personal Statements Example
- Malcolm X
Though Malcolm X is very controversial figure in the history of twenty-first century, I think no one will argue about his words on education. What is more, from Socrates to Shakespeare, Plutarch to Albert Einstein, Aristotle to Henry Ford, prominent minds of human kind stressed the importance of education. Their words still linger nowadays, because education, in one way or another, will always be important for personal growth and open-mindness, a mean to succeed and build your life, and become a valuable for both oneself and the society.
Nevertheless, the complete understanding of it came to Continue reading...
Free Essay About Accounting Concepts
The role of each of the financial statement is explained hereunder:
Also known as Profit and Loss Statement, income Statement, indicates the net profit or loss of the company during the year.
Also known as the Statement of the Financial Position, Balance Sheet provides information about the financial position of an entity at a given date. Balance Sheet consist of following items:
It works on the principle of Assets= Liabilities+ Equity
Cash Flow Statement:
Cash Flow Statement provides information about actual cash transactions in the entity held during the year. The movement of cash Continue reading...
Sample Research Paper On Audting
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 Continue reading...
Changing Role Of The Management Accountant And The Use Of Financial Information Case Studies Example
Introduction to Management Accounting
The management accounting and the financial accounting provides the fundamental base for presenting the organizations' past, present and the future performance. However, financial accounting deals with preparing financial reports under the strict regulations of the country specific generally accepted accounting principles and follow the reporting regulations of the stock exchanges. The financial accounting provides information regarding past years' performance and it is primarily used by the stakeholders .
On the contrary, management accounting plays an active role in planning, preparing budgets, assessing performance, evaluating reasons for variances, taking control actions. Along with this, management accounting involves decision making related Continue reading...
Accounting Essay Example
FASB creates rules for reporting the accounting standards for private and public sector companies. SEC, on the other hand, creates rules to protect the interests of investors, facilitate capital formation and maintain efficient market. Let’s say both the companies do not exist. In such scenario, some of the companies may try to report their earnings in a way to show more profit than actually is. Even it will be difficult for investors to compare two companies by merely looking at their financial statements as each company may use their own financial and accounting standards and variations. Without accounting Continue reading...
Managerial Accounting At Mars Inc Case Study Examples
The organization chosen for the purpose of this assignment is Mars Inc. The reason for choosing this organization is that my relative Mrs. Rachna Kapoor have been working as an accounting professional for 5 years in their Cost Accounting and Budget Management department in London, United Kingdom.
About Mars Inc.
Mars Inc. has been initiated in 1911, when Frank C. Mars prepared candies and started the Mars confectionary. The story of success began with the launch of many Mars chocolate brands, namely Milky Way in 1920, and continuing the similar story to register twenty nine chocolate brands as in 2014 .
The winning Continue reading...
Sample Research Paper On Court Judgment
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 Continue reading...
Managerial Accounting Concepts And Principles Research Papers Examples
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 information to Continue reading...
Good Critical Thinking On The Role Of Management Accounting
Recently, the role of a managerial accountant is widely discussed in the scholars. Johnson and Kaplan (1991) argue that management accounting is “too late, too aggregated, and too distorted to be relevant for managers’ planning and control decisions” (1). Haedr (2012) considered the mediation effect of management accounting information on motivation using contingency theory stating that “MAI usefulness accounts for a full (i.e. complete) mediation effect only on the relationship between centralization and MCS effectiveness.” (n.p.). As the number of views cannot present a unified opinion on the matter, the purpose of the current paper to reveal whether the Continue reading...
Example Of Article Review On Human Resource Management
Jaarat (15) says that human resource is a vital entity in every business entity since it controls and directs other resources. The accounting department recognizes the human resource as an important asset in stating the financial position. Whenever there is, a lack of measurement in the use of the financial resource, the human resource in the company is accountable. According to Jaarat (15), a model for measuring and recognizing human resource in the statement of financial position can better the organization.
Jaarat (16) confirms that human resource is the most expensive resource in every business entity. This resource applies Continue reading...
Free Systems Integration And Client/Server Computing Essay Sample
Systems integration and client server computing
With the increased dynamism in information and communication technology, organizations are forced to align their practices to the changing technologies in the market. Enterprise Resource Planning (ERP) has been adopted in many organizations and business settings over the past decade. The system enhances efficiency and effectiveness of service delivery and productivity in the organization. However, there are challenges faced by many organizations with regard to maintenance and upgrade of these systems.
The article examined a case study of an Irish company which adopted the Enterprise resource planning system. The organization was skeptical of upgrading the system after 12 years Continue reading...
Good Example Of Financial Information: Comparability And Consistency Essay
The comparability of financial information can be described as the quality that makes it possible for the user to do an analysis of two or more organizations and assess similarities and variances. Comparability is the method by which users can made comparisons between two business groups/companies/organizations. On the other hand, consistency of the financial information is the quality that makes it possible for the user to make comparisons between two or more financial periods for a company. In simple words, consistency allows the users to compare the accounting period of a single company with the subsequent accounting period. Both Continue reading...
Survey Research Paper Examples
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 Continue reading...
Free Literature Review About Change In Competition, AMT And Strategy
Management Accounting Literature Review
The business environment in Malaysia has experienced several changes over the recent years. These changes have been brought about by globalization that has introduced new technologies in the country. The technologies have opened the business environment in Malaysia to new challenges and competitive forces. The central Government economic policy has helped business people to mitigate challenges associated with management accounting. The policy is in line with the country’s vision 2020, which aims at reforming the management of its resources, and it has contributed greatly to the manufacturing industry in the country. The manufacturing industry is a key contributor Continue reading...
Free Financial Statement Analysis Research Paper Sample
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 them Continue reading...
Auditing Research Paper Example
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 Continue reading...
Free Essay On Systems Integration And Client/Server Computing
There is a considerable difficulty in the management that is measurable through variation in information needs from one business function to another and the movements of information from one business function to another. These are possible situations given that business information systems maintain relationships between all functional areas and processes. Taking the supply chain management as the point of reference for both cases, it possesses various functional areas (raw materials and delivery, human resource, accounts and finance and marketing and sales) from which it shares relevant information on the proceeds of the corporation. Fundamentally, the department receives various types Continue reading...
ERP Systems Essays Example
Another person who should be in the selection team is the Chief Information Officer (CIO) of the company. This is because the CIO is responsible for all the systems that are to be installed. While in the decision making team, the CIO is the key person who will give technical advice to the team. This is a crucial contact in the team because of the software. The CIO is the best person to advice on the various technical requirements of the software. Before an information system is procured, it is important to understand what the software will play. This Continue reading...
Example Of Essay On Biblical Worldview
God created human beings to work, and He has authority over humans to perform duties to the extent they are capable. In the first book of the Bible, God creates work into the real meaning of humanity. He creates human beings in his own image, and God himself is a worker. He places Adam in the garden of Aden for the reason of working it. In different parts of the scripture, God commands humans to work to their level best. Work carries on through to the end of the Bible. Having been created in the image of God, accountants Continue reading...
Example Of Essay On Advanced Management Accounting
Most businesses when starting are very successful and make very large profits in a competitive business environment. After a while, these businesses end up failing within a very short time of their existence in the market. Most of the reasons are not external factors but internal factors. The most commonly cause of failure to this business that start successfully and end up failing is poor cost management. Managers in this kind of businesses only focus on the financial reports in their decision-making and strategic plans of the business. These particular managers fail to understand that financial reports are always Continue reading...
Ethical Violation Article Review Examples
In any business, the major battleground is financial accounting, and there is no government or industry regulation that can prevent unethical ways that people use in dishonestly reporting given financial information (Duska, 2007). For example, there are certain accounting practices that are illegal like misinterpretation of figures and expenses on a company’s financial statement. However, some legal accounting practices are unethical (for example, influencing financial results by shifting expenses unjustifiably).
Arthur Andersen LLP is a good example of a company that violated accounting ethics. This accounting firm would have become one of the largest firms in the USA Continue reading...
Free Reporting Practices And Ethics Research Paper Example
Financial management in health care organizations
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 Continue reading...
Example Of Essay On My Academic Aspirations
An individual’s professional success greatly depends on the kind of education and training he obtains. Hence, pursuing knowledge in a reputed institution is of great significance in one’s life. At this point in my life, as a short term plan I want to pursue MS in Accounting Degree from a great Business School. I believe that Lubin Business School will be the best place to fulfil my educational aspirations. My educational background, experience, and life ambition will prove that I am well-suited to be a candidate for the course in your institution.
I have worked at the Continue reading...
Good Unethical Issues In Enron Documentary Essay Example
Based on the documentary film Enron, it is apparent that Kenneth Lay was motivated by a genuine goodwill to prosper commercially when he merged two energy companies in Texas to form Enron. After its incorporation, Enron would later ride along the economic convenience created by deregulation of natural gas trade. Deregulation of natural gas market facilitated generation of vast revenues through sales at high prices. As the company’s revenue increased exponentially, human ingenuity infiltrated into Enron’s executive body. Consequently, executive officers and financial professionals within the firm adopted accounting principles that gave birth to what became an Continue reading...
Sample Critical Thinking On Decision Involving Ethical Dilemma
As an aspiring professional in accounting and the current president of accounting union, David needs guidance from the AICM principle to solve the ethical dilemma at hand (Ladd, 2012). Cheating in an exam may not sound very wrong especially when in the situation of David but almost all schools have rules against it.
It is the responsibility of David as a leader in the same department, to avoid any conflict of interest with the department and must remain transparent. The school requires him to follow ethical standards in school (Ladd, 2012). David has the responsibility to be fair to Continue reading...
Example Of Pictorial Description Of The Fcaps Model Essay
Description of FCAPS model
FCAPS, an acronym for fault, configuration, accounting, performance and security is an International Organization Standardization (ISO) Telecommunications network management framework and model for network management. This is a management category in which network management tasks are defined by the ISO model. Accounting is always replaced with administration in most non-billing organisations. The term FCAPS was first introduced in the early 1980s. The main objective at this time was to define clearly five separate protocols for every functional area. Currently, this model places these working categories of the network system management into five distinct levels. These levels of management are Continue reading...
Performance Against Budgets To Reduce Costs And Enhance Value Essay Examples
Accounting and finance are two different things and most of the people have been regarded them as similar things. Accounting is the name to record the day to day transaction of a company, while finance is the name of utilizing the funds of an organization at a place from where the likelihood of earning would be on a higher place. The concept of accounting and finance is totally different with each other but most of the people regarded both of them as single and identical one. Accounting is the name of to record the day to day transaction of Continue reading...