Category: Accountancy

Table of Contents Introduction Going concern concept Accrual/Matching Concept Example Consistency Entity concept References Introduction The financial statements of entities are usually prepared and presented using the defined set of guidelines. These guidelines are accounting standards, concepts, and conventions. All these guidelines enhance the reliability of the financial statements. Accounting concepts are the rules and…

Table of Contents Introduction Opposition to International Financial reporting standards Positive theory Normative theory Conclusion Bibliography Introduction Formerly, International Accounting Standards (IASs) were issued by the IASC from the years 1973 through 2000. Then an International Accounting Standards Board came up that replaced the IASC in 2001. From that time, the IASB has done some…

Executive Summary SFAS 130 requires an entity to report comprehensive income and the components of other comprehensive income in a full set of financial statements. The objective of this standard is to report all items that meet the definition of comprehensive income, specifically in a financial statement in the period of recognition of those items…

Factors Influencing Incoming Freshmen to Major in Accounting Incoming freshmen have career ambitions whose ultimate goal is to become organizational managers in leading corporations in both the private and public sectors. Therefore, they need to major in accounting to enable them to achieve their dreams. For example, after majoring in management accounting, freshmen develop professional…

Table of Contents Introduction Objective 1: Database Table Structures Objective 2: Audit Trail Objective 3: Systems Documentation Objective 4: Database Queries Conclusions and Recommendations Introduction This report is a review of the existing database system of Northwind called Accounting Information System. There are four major objectives for which the review is carried out. These objectives…

Table of Contents Unethical Accounting Practices The impact of the Sarbanes-Oxley Act References Unethical Accounting Practices Accounting is best described as a mechanism that measures the economic performance of organizations and provides information about the financial position of such organizations to a number of users such as the government, investors, and shareholders (Weygandt, Kimmel, &…

Mixed Measurement Model of Accounting and Reasons to Use It The main reason for the use of the mixed measurement model is flexibility. Under this model, the various bases of measurement are used in different degrees and varying combinations to prepare the financial statements. The use of a mixed model is also important because of…

Table of Contents Human Capital Definition Human Capital Inclusion in Financial Statements Measuring Human Capital Challenges and Solution References The development of financial statements has for a long time concentrated on the aspect of money. They describe where the money comes from and where the money goes. The effort of the people who make sure…

Table of Contents Four Phases of the Accounting Cycle Benefits of a Computerized System References Footnotes Four Phases of the Accounting Cycle There are four main phases of accounting that will be reviewed within the framework of this paper. The first stage is recording. This phase delineates all the activities related to the process of…

Introduction This paper provides a complete profile of the Nordic’s business and accounting environment with the focus on Norway, Finland, Sweden, and Denmark. Nordic countries have common economic interests. These are small countries, which greatly benefit from foreign trade. Rapid economic developments in Nordic countries have made them among the most competitive economies of the…