Category: Accountancy

Table of Contents Introduction Proposed System Requirements Recommendation Conclusion References Introduction Small and large firms automate their accounting systems to improve their operation efficiency. The efficacy of using automated systems cannot be undermined by the costs associated with their acquisition and maintenance as the cost savings are high (Gelinas & Sutton, 2002). The tax and…

Table of Contents Introduction The main peculiarity of fair value accounting Sub-prime crisis The use of this method and sub-prime mortgage crisis Discussion Conclusion Works Cited Introduction The use of fair value or mark-to-market accounting is extremely widespread among various organizations, including those ones that represent the financial services industry. This method is also advocated…

Table of Contents Tietjen’s Defense Mautz’s Laments the Lack of Social Responsibility Understanding the Accounting and Corporate Scandals of the 21st Century Conclusion References Victims of corporate fraud, Certified Public Accountants, and stakeholders in publicly traded companies are going to have mixed feelings after reading articles authored by Carl Tietjen and R. K. Mautz, because…

Table of Contents Introduction Proposed System Requirements Recommendation Conclusion References Introduction Small and large firms automate their accounting systems to improve their operation efficiency. The efficacy of using automated systems cannot be undermined by the costs associated with their acquisition and maintenance as the cost savings are high (Gelinas & Sutton, 2002). The tax and…

Introduction Commercial activities normally take place because investors see a chance to generate profits in them. Basically in a free market economy organizations freely enter and exit markets. Moreover, investors are attracted by ventures which yield high profits. In some situation, investors who find themselves in ventures which are generating low profits tend to get…

Table of Contents Introduction Main body Conclusion Introduction I never understood why some people say that accounting is boring. I find it rather exciting. My interest in finance developed many years ago. As a kid, I used to earn my pocket money for doing some household errands. Back then, I realized that saving a portion…

Accounting Standards will actually differ from one region to another. Different organizations also develop different accounting standards for their decision-making. The Australian Accounting Standards Board (AASB) sets such standards in Australia. This board is to make sure that, the accounting standards are followed professionally in reporting accounting decisions (Monti, Belkaoui, 1991). By and large these…

Three phases of the case study and their associated objectives The three phases which are included in this case study are: phase one, phase two and phase three. The first phase entails the study of the existing management accounting system and an examination of how the costs and revenue opportunities occasioned by the environmental impacts…

Table of Contents Impacts of accounting information on the organization Implications of accounting between the individual organization and the community Bibliography By and large accounting is not a tool for control of an organization only. However, it expands its influence to the horizon of the entire race of mankind, where it is used to instill…

The US Generally Accepted Accounting Principles, or GAAP is the accounting standard that is in use in the companies throughout the United States. The GAAP is gradually being substituted by another set of principles, known as IFRS, or International Financial Reporting Standards. Some critical differences between IFRS and GAAP make the move complex, as it…