Graduate education provides an opportunity to expand academic horizons, to learn practical skills for real world applications, and affords the opportunity to do advanced research and influence future generations of students in a given field. University of Illinois at Urbana-Champaign’s graduate program in Accounting will afford me the opportunity to conduct research, advance my knowledge of the field and study with some of the finest faculty in the profession. I will be able to advance my knowledge in a vibrant profession that has implications for a broad range of industries and services that are used daily by millions Continue reading...
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Essays on Accounting - Page 5
Free Cost Analysis Report Example
It is an obvious fact that accounting and finance are two different things and the provisions of both of them, are totally change with each other. Accounting is the name of recording and interpreting the data accordingly at a place, while finance in the name of accumulating the funds at a perfect place in total. The provision of both accounting and finance are vital for an organization in total, as both of these things are essential for the long run productivity of an entity is concerned. We are currently, located in the era Continue reading...
Good Example Of Accounting Implications Of Valuing Inventory Report
Accounting implications of valuing inventory under FIFO method
FIFO stands for first in first out. That means that the goods which comes in stock firstly will be dispatched (sold out) firstly. So it means that closing inventory is being stated at the latest stock price under this method.
In the period of rising prices of the fast moving consumer goods, when company’s inventory in being valued under FIFO method then the closing stock will be highest. Closing stock directly affect the cost of goods sold ( i.e. CGS) and the CGS directly affect the profit of the company and Continue reading...
Benefits Of Carbon Accounting Critical Thinking Samples
Carbon accounting is a technique by which States’ compliance or conformity with the Kyoto Protocol is recorded or documented. It is the process of accounting pursued to determine the amount of carbon (IV) oxide equivalents which will not be emitted into the atmosphere due to Flexible Mechanisms schemes or projects within the Kyoto Protocol (Williams, 2010). Carbon emissions trading, is an example of a scheme adopted by many nations for improvements within environment. It allows members to purchase and sell permits or sanctions for carbon dioxide emissions or credits for cutback in emissions of greenhouse gases (Hurteau, Koch & Hungate, Continue reading...
Example Of Essay On Taxation
Adjustments to the accounts
In the computation of the income tax of the client, depreciation is allowed as an expense in the income statement. Instead, capital allowances on the capital investments are allowed. The taxpayer computes the capital allowances as per the prescribed rates by the commissioner of income tax. These include investment deduction, wear and tear allowance as well as the industrial building deduction. In the case of Andrew, the capital allowances can be computed as below:
Computation of the writing down allowance on general pool for the year 2012/2013 was at 18%.
Balance brought forward on General pool = £2500
Add: New equipment purchased = £5000
Less: Old Machine sold = (£600)
Net value of general pool for capital allowance = £ Continue reading...
Good Accounting Essay Example
Financial Management, Cash Flow and Accounting Principles
Accounting and finance have a very important and key role in any form of business. Accounting statements of the business show the performance and the position of the business in a proper way. Properly created Statement of Comprehensive Income is very helpful for the management and all the stakeholders of the business. It helps in analyzing the profitability of the business for the accounting year. It helps the management to analyze the expenses and the income of the business. Moreover, the potential investors may also consult Income Statement before investing in the Continue reading...
Example Of Decoding The Reliable Method Of Finding True Share Value: Accounting Method Vs Economic Essay
14th November, 2013
It is of no doubt that value created by the managment of the company benefits the shareholders but it is the society which is benefited at largebecause the quest for value by the management drives resources to the most efficient use and thus benefiting the society as a whole. However, even today there is not set principle or theory on how share prices are determined?
In the financial arena, there are two methods of valuation of shares: Accounting Model and Economic Model.
Accounting model is the conventional model of calculating share price using multiples of P/E and EPS, where share value is calculated by multiplying EPS and P/E Ratio. Although this method is simple and prvoides Continue reading...
Mckesson-Robbins Essays Example
Accounting scandals are business and/or political scandals that arise with disclosure of the financial offences by the trusted executives of governments or corporations. These misdeeds normally involve complex means of overstating revenues, misdirecting or misusing funds, overstating value of the corporate assets, understating expenses or underreporting liabilities existence, sometimes with collaboration of the officials in other affiliates or corporations. This essay focuses on the financial scandal by McKesson & Robbins, Inc.
One of the key financial scandals of 20th C is McKesson & Robbins, Inc. scandal. Philip Musica took over McKesson & Robbins, Inc. Company presently known as McKesson Corporation in 1925. Continue reading...
Example Of Case Study On Mortgage Analysis
Statement of Problem
Finance and accounting are two different things but most of the people regarded both of them as identical or similar one. Accounting is basically a name of recording the transaction of an organization, while finance is the name of utilizing the funds of a company at a perfect place from where the likelihood of earning would be on a higher scale in total.
Concepts that come under the ambit of both of these broad visions are important to analyze as both of these broad concepts have something very different. Finance based versions and decisions are important for an individual, Continue reading...
What Constitutes An Individuals Gross Income For Tax Purposes Research Paper Examples
- 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 gross Continue reading...
Strategic Management Accounting Google Case Study Argumentative Essay Examples
During the past three decades, companies operating in various sectors of the economy have experienced various changes in the scope of their operations. The service and manufacturing sectors have encountered dramatic changes in their business environment. Competition from companies operating in the same industry whether in the same jurisdiction or in global markets has resulted in situations where companies embark on revolutionizing their management to enable companies to remain relevant and competitive in today’s extremely competitive global environment. Consequently, a considerable reduction in product life cycle due to advancing technological trends has posed a considerable test to meet Continue reading...
Free Case Study On Ethical Dilemma Analysis
In the case, Robert Lee, the partner-in charge of the engagement, made a decision to purchase the outstanding stock of Stewart International basing his decision on unaudited accounting records. Joseph Chang is in a dilemma whether to submit the audited accounting records which apparently does not reflect the 25% increase in earnings that has been reflected by the unaudited accounts which will make Robert and Charles stop reclaiming the company’s stock from members of the public or to go without reporting the audited accounts and leave Robert and Charles continue to repossess the outstanding stock.
Joseph Chang’s Continue reading...
Free Business Plan About Inventory Accounting
LIFO and FIFO Inventory Method:
FIFO and LIFO Methods are Inventory Accounting Methods used to calculate the amount of money an entity has tied up in its Inventory. While under FIFO method, stock purchased first is sold first, while under LIFO Method stock purchased recently is sold first. Following are some advantges and disadvantages of these two inventory calculation method:
Advantages of LIFO Method:
- Since, under LIFO method, cost of material sold is taken to be cost of most recent inventory purchased, it reflects the current market price. Thus, this methods relates the book of accounts to the recent trend of market price of materials and ensures Continue reading...
Example Of Operation Of The Pcaob Research Paper
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 Continue reading...
The on job learning experience is acquired while working in a job setting which boosts career aspiration. They are positions in the public or private organizations which are structured and supervised for understanding the industry norms. Engaging in an internship program is a source of acquisition of knowledge and abilities for the participants. In the industry the participants get jobs on the basis of academic records and the relevant work experience which they possess. The acquired skills and experience ensures that the students succeed in securing jobs upon graduation. Participating in an internship program is considered as a best Continue reading...
Free Term Paper On Accounting
Auditing AC410 Reflection
Importance of Auditing in business studies
Auditing is one of the most important and essential subjects in any business degree today. Auditing not only the study of identifying business errors and frauds, but it also enhances the business knowledge and the mental approach of businessman. By studying audit at college, it automatically develops the ethical aspects of business because business ethics is the core area of business studies at college level. Moreover, by adopting the business ethics at student level, it will assist the students in making business decisions in practical business decision making. (Bennett)
Another important advantage of Continue reading...
A Performance Review Cycle, (Prc) Of Their Accounting Personnel Research Paper Sample
Research paper on employee motivation
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 Continue reading...
Enron And Arthur Andersen Research Paper
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 Continue reading...
Example Of Admission Essay On Why Interested In A Graduate Business Degree From Wake Forest University
One can say that education is the best inoculation against disruption. Accounting has been my passion, education has made me good at it, and I have grown to love it in my undergraduate studies. To be the best in any field one has to seek the best education. I know that Wake Forest University offers one of the best graduate programs in business. Business decisions are made based on accounting principles. To make critical decisions, expertise in the field of accounting is required. Wake Forest University is dedicated to training accountants to develop critical and analytical skills that enhance Continue reading...
GAAP And IFRS Term Paper Examples
Accounting and finance are two different things and both of the provisions are important for an organization. Accounting is the name of recorded and maintain the data accordingly 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.
Both of the departments are important for an organization because both of these organization deals entirely with the financial based competitiveness of an organization as a whole. The real productivity of an organization does not relate only with the selling of Continue reading...
Example Of International Accounting And US GAAP Essay
The US General Accepted Accounting Principles (GAAP) refers to the accounting standard that is being used in the United States, while the International Financial Reporting Standards (IFRS) refers to the accounting standard that is being used in more than one-hundred and ten countries around the globe. One of the main differences between the above two accounting standards is that GAAP accounting system is considered to be more “rules-based”, while IFRS is considered to be more “principles-based”.
IFRS is better as compared to GAAP and this is the reason why the US. Securities and Exchange and Commission are hoping to Continue reading...
Free Research Paper About Using ABC To Improve Decision Making
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 & Continue reading...
Free Essay On Accounting Lease Draft 2010-Ed/202
Its Impact on the Financial Position and Performance of Australian Companies
Lease Accounting is an area which currently has different practices proposed in IFRS and US GAAP. Even lease accounting practices are not interpreted in the same way by different companies within IFRS. This causes confusion for the investors as due to different interpretation by different companies leases are accounted for differently in the annual report and accounting books. This causes problem for regulators, government and investors to judge and rate companies uniformly. As an effort to consolidate and bridge the current gaps, IFRS and US GAAP have come up with Exposure Draft –ED 202. There are some sweeping Continue reading...
Free Report On Corporate Governance, Ethics And Controls
The introduction of stakeholder theory as a basis for the development of Corporate Governance in the 21st century has been most effectively seen in the commitment to the sustainable economic development of employees, their families and the local community that they serve. The improvement of “society at large” it is presumed, is the basis to good business and ultimately profits (McNett, 2012). Unlike theories of agency, which propose individual decision as a model for corporate leadership, the foreign market entry of global organizations involved in trade has set the pace for increased focus on collective decision by stakeholders in Continue reading...
The Negative Effects Of Technology On The Accounting Profession Research Proposal Examples
Technology affects everyone at different levels of their daily life. In the 20th century, technological advances have improved tremendously thus playing a major role in the human evolution. Information, technology and software are evolving at a high rate and the people must be on their toes to keep up. Skills in the accounting profession have to be constantly improved so as to navigate the profession the same way as the computers do. With the increasing software programs that cater for almost everything there is no need to keep the big ledger books in the office anymore. Even though the Continue reading...
Example Of Critical Thinking On Understanding Student Plagiarism: An Empirical Study In Accounting Education
One of the worst problems facing accounting students today is the problem of plagiarism that is a major concern not only in the business field but to all academic fields. This has been a major concern and a problem to several universities throughout the world (Dey & Sobhan, 2006; Roberts 2008). Many students do not clearly understand ways on which to get rid of plagiarism and the measures they need to take in order not to encounter it. This has mostly been due to the ever changing nature of accounting that keeps changing from time to time (Sundem and Williams, Continue reading...
Example Of Finance Essay
According to Patterson, “servant leaders are those leaders who lead an organization by focusing on their followers, such that the followers are the primary concern and the organizational concerns are peripheral” (Shekari and Nikooparvar, 2012). They are those leaders who place their subordinate’s needs before their own and focus on helping their employees to grow and achieve optimization in their careers and skills (Waterman, 2011). Managerial accounting is a combination of accounting, finance and management while making use of leading techniques so that the businesses can be a success. It actually involves the identification of, measurement of, analysis, Continue reading...
Objectives Research Paper Sample
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 using Continue reading...
Admission Essay On Fun Fact
Cooking is a fine art that requires talents with physics, chemistry, and anatomy. I like to cook dinner for large parties of my friends.
Skilled and innovative student with a demonstrated passion for accounting. Embraces diversity and thrives in diverse situations. Skilled at increasing productivity by utilizing strong leadership skills and academic and practical background in accounting, finance, and sales functions. Seeking a Master of Science in Accounting degree to learn management of various programs, program development, and team-building skills to lead a group of individuals towards a common goal, while maintaining a high commitment to work ethics.
Skilled Continue reading...
Quotes From The Text That Will Be Used In The Research Paper Literature Review Sample
Reckers, P. (2002). Advances in Accounting. Burlington: Elsevier.
Trust in both the accountant and the platform he/she is using, has to be maintained for an accounting practice to be considered credible. (Reckers, 2002 p. 122)
A good and credible accounting process has to have features such as; Ability to produce accounts at a short notice; should provide audit trail; Compatibility with external. Programmes; able to detect error; should enable internal controls to be integrated into it (Reckers, 2002 p. 122)
Easttom, C., & Taylor, J. (2011). Computer crime, investigation, and the law. Boston, MA:
This book elaborates on the characteristics Continue reading...
Example Of IFRS Standards Report
International financial reporting standards (IFRS) are standards laid down by the International Accounting Standards Board (IASB). They are meant to provide guidelines on how accounting information should be handled and interpreted.
IAS 12 provides standards for interpreting income taxes. It provides a detailed balance sheet way of dealing with income taxes. This method puts into consideration the tax consequences of both current and future balancing of an assets’ or a liabilities’ carrying amount. It also provides way handling the current tax and also helps in recognizing and measuring the deferred tax liabilities. On top of this it analyzes the Continue reading...
Example Of Essay On (Discussion Question) Managerial Accounting And Strategic Decision Making
Discuss the characteristics of “relevant information” in the context of managerial accounting and strategic decision making. What are opportunity costs? What is the relevance of sunk costs when analyzing new opportunities?
One of the major roles of the managers is to make decisions where they must choose the most suitable course of action; this role can only be fulfilled successfully when the manager is able to acquire the relevant information. There are basically two broad characteristics of information which makes it relevant including it being future oriented and the presence of alternatives. Any historical information can not differ between Continue reading...
Example Of Report On Speaker Notes
Slide 1: Lease: Exposure Draft 2013
Slide 2: BHP Billiton: Company Background
One of the largest resources company in the world
Operates in countries like USA, Australia, Pakistan, Algeria, Canada, Chile, Brazil, Thailand, Colombia, Peru & Venezuela.
One of the leading manufacturer of iron ore, copper , aluminum, uranium, nickel, silver and coal.
Also one of the major player in oil exploration and oil extraction.
Slide 3: BHP Billiton: Current Lease Accounting Practice
BHP Billiton has many different types of lease agreements in different countries.
Land lease agreements are carried in book of accounts at cost.
Depreciation of the leased property or equipment is done to their Continue reading...
Ethical Issues Involved With Technology In The Accounting Profession Research Proposal Examples
Ethical Issues involved with Technology in the accounting profession
The rising demand for efficiency, accuracy, security, and speed has called for the use modern technology in the contemporary accounting world. The nature of the business evolves on the day-to-day basis, and the accounting experts have to bring themselves up to speed in order to make broader contributions to the business, for example, auditing information systems and commenting on non-financial measures. The efficiency associated with incorporating new and advanced technology in the accounting field is exactly what CPA firms, financial organizations among others need and, therefore, the challenges associated with incorporation of technology into the businesses are inevitable.
Harvard Business Brief Cases Depreciation At Delta Air Lines Essay Example
"The Fresh Start"
Statement of Problem
When Delta Air Lines filed for Chapter 11 bankruptcy, the company sought new accounting measures to control losses. In a strategic move to restructure the company according to regulatory requirements and financial control, Delta created a new, wholly owned subsidiary, an accounting unit to manage financial control is a strategic response to major losses (Bruns, 2010).
Rationale to Delta Airlines decision to use accounting as the key mechanism for continuous change within the organization is responsive to three strategies: 1) economic life of aircraft; 2) intense competition and deregulation; in coordination with 3) annual reporting of Continue reading...
Free Term Paper On SEC 405
The case involved colluding between the AOL executives and Purchase Pro, Inc. in which they overstated the revenue generated from the software licenses. This made the investors believe that Purchase Pro, Inc. had achieved its sales objectives. To be able to make such revenue claims, the parties had to use computers to overstate the values. Accounting records had to be stored in computers and making such manipulation involved the use of accounting software. Additionally, the cases involved charges of wired fraud, which was done through electronic trading, which means computers were used.
One certified professional that could have been Continue reading...
Egyptians Accounting Systems And Standards Essay Examples
Being the largest Middle East economies, Egypt is starting its changes in the market economy. It has experienced significant changes in its accounting system in the last two decades. The evolution of accounting in Egypt demonstrates its capability to adapt in response to changing conditions. Meanwhile, various cultural aspects have greatly influenced accounting practices in Egypt. Although Egypt is leading Middle East economies, it has experienced cultural mistakes and challenges in transforming its accounting systems and standards. Thus, this paper will discuss cultural challenges and mistakes that Egypt has encountered in the process of changing its accounting systems and Continue reading...
Team Roles And Responsibilities Essay Sample
The successful execution of the event plan is dependent on the teamwork and effort of the two event planners. The main roles identified in the event plan that should be delegated to an event planner are finding sponsors, risk mitigation, bookkeeping, marketing, event evaluation, and identifying artists and musicians for the event. There may be other smaller roles that will be delegated to each planner, but the responsibilities listed above are the integral ones to the event’s success.
Manar will be responsible for identifying and activating sponsors. This responsibility shall encompass all steps involved from targeting a sponsor, Continue reading...
Essay On GAAP Versus IFRS
The United States Generally accepted standards (GAAP) and International Financial Reporting Standards (IFRS) are the two universal used financial standards and principles of accounting. The two accounting standards are more similar than they are different , this is the reason for the two having the capability of giving the same financial results. However, the difference is based on specification of accounting factors, including transaction details and entity, interpretation of the IFRS as it is more general, industrial and financial policy practices. The difference between the two accounting standards are developed on the weighting scale of the reasons companies prefer and Continue reading...
Accounting Industry & Government Essay Example
Accounting is an organized process of determining, recording, analyzing as well as interpreting and communicating all the information related to finance for the purpose of appropriate economic decision making. Without regulation of public accounting process, firms will deliver financial statements that are inclined to their own interest hurting the economy. When talking about the accounting industry and the government, it simply means the public accounting and its regulation by the government as enterprises render their financial information to the public. Accounting provides services such as book keeping and auditing which are required by different stakeholders for execution of economic Continue reading...