Category: Accountancy

Accounting cycle is a series of activities that that shows the entire process a transaction goes through from start to end. These processes are repeated in each accounting period. The paper discusses the accounting cycle of the office of the chief financial officer. The cycle follows some common steps. The first step is identification of…

Table of Contents Introduction Dishonest Behavior in Accounting Effects of Dishonest Behaviors in Accounting How to Prevent Dishonest Behavior in Accounting Conclusion Works Cited Introduction Accounting is a practice and body of knowledge concerned with business recording methodologies, keeping of financial records, auditing, analysis of financial information, and advising on tax matters (Clayton 45). It…

Table of Contents Introduction The summary of the provisions and their implications The role of auditing standards in preventing fraud Conclusion Reference List Introduction The adoption of auditing rules is essential for protecting the interests of many stakeholders, especially investors. They put trust in the integrity and efficiency of businesses. Moreover, they are strongly dependent…

Table of Contents Introduction Analysis Conclusion Works Cited Introduction The Public Company Accounting Oversight Board (PCAOB) is an organization that was established by the Sarbanes-Oxley Act of 2002 in order to oversee and control the audits of public companies (Anandarajan and Kleinman 114). The organization exists to ensure that investors have access to independent and…

Table of Contents Accounting Information The Accountant’s Role Conclusion References Accounting is a crucial component of any business, large or small. Collier (2015) states that accounting is “integral to the formulation and implementation of the strategy” (p. 23). Indeed, accountants can collect and analyze financial information that is valuable for business decisions and may act…

Table of Contents Standards and systems effects Standards wars Standard negotiations Choice of standards leader PTSG accounting information Income Statement Works Cited Standards and systems effects Standards are imperative in determination of network value if they entirely rely on size. Given that PSGT is a large corporation with capability to expand to global markets; it…

Mental accounting is an economic concept whereby individuals separate their assets into non-transferable portions. Mental accounting suggests different compensation packages. It is prudent that McKinsey’s human resources manager understands its values and concepts for implementation. McKinsey can structure their compensation package in numerous ways without increasing salaries to its employees. Employees consider motivation as monetary…

Table of Contents Introduction Overview of the Project History of FASB’s Insurance Project on Long-term Contracts The Status of the Insurance Project between 2014 and 2015 The Current Status of the Project The Implications of the Project on Long Duration Contracts Conclusion Annotated Bibliography Introduction The Financial Accounting Standards Board (FASB) was founded in 1973.…

Table of Contents Introduction Contents Present Environments Shareholders’ Aspirations Management accountancy versus financial accountancy Standardization is a mixed bag in service to the shareholders Standardization not desirable for Managerial Accountancy The coordination required for serving the shareholders Conclusion References Introduction Present shareholders seek information about the growth and diversification of their investments; perspective shareholders seek…

Table of Contents Introduction Concepts and principles Corporate sustainability Ethical policies Stakeholders’ theory Corporate Accountability Sustainable development Failures in the financial reporting Conclusion References Introduction Traditionally accountants have been trained to handle specific information as stipulated by international financial reporting standards (Accounting Standards Board, 1999; Colwyn Jones, T. 1995;) and generally accepted accounting principles. However,…