Hi, I'm a returning customer and I want to say thank you very much for my last paper I got a good grads it was history paper about year and a half ago.
I have a paper assignment which topic is (Comparison between Computerized Accounting System and Manual Accounting System)

I hope you could flow this format, The essay would be divided into 10 paragraphs including an intro and conclusion paragraph.

1- Introduction (intro to the essay)
2- First part of the second paragraph is explanation of Manual ACC System, what the recording processes are in general, and where they are used usually. Second part of the second paragraph a brief History of Manual ACC System.
3- Advantages of Manual ACC System.
4- Disadvantages of Manual ACC System.
5- Future of Manual ACC System.
6- - First part of the sixth paragraph is explanation of Computerized ACC System, what are the recording processes in general, and where they are used usually. Second part of the sixth paragraph a brief History of Computerized ACC System.
7-Advantages of Computerized ACC System.
8- Disadvantages of Computerized ACC System.
9- Future of Computerized ACC System.
10- Conclusion, just sum up, then say each one has its own advantages and disadvantages. And the favored system would be Computerized ACC System (with supported statement from what has been written above)

(NOTE)# (NOTE)::::::::: Please use simple vocabularies as much as possible and the level of paper is near or below high school level, since I'm an international student. Moreover if you could make some grammar mistakes that would be awesome. Also please be caution about plagiarism since our doctor stated that he want our paper to be sent to his e-mail and also he said that he would check each paper for the plagiarism on a special program. The paper should include general info in general and not so deep knowledgeable info. It's not like a research paper, but PLEASE be CAUTION about PLAGIARISMM

NOTE REGARDING SOURCES:::::::
IF it is possible, I want the only source to be from The book named (Accounting Principles 9th edition, Weygandt Kimmel Kieso, International Student version). So, some info about the Computerized ACC System vs Manual ACC System in pages 302.

* The format of citing that I want is just put the number of the page next to the cited info between ( and ) , for example (p.198)

The project will demonstrate your comprehension of accounting systems and your ability to effectively communicate in writing.

Assume you are a CPA with a small local practice in a major metropolitan area. You have three professional employees, all relatively new CPAs (recent graduates from UMUC). You also have an experienced office manager. In the past, your practice consisted primarily of tax and write-up work, but you want to expand the practice. Based upon your desires to expand the practice, you have found a new client, a growing homeowners' association consisting of 150 homeowners, who is in the process of merging with four other homeowner associations within the next 6 months (which will increase the number of homeowners to 650). A part of the merger deal, your client will also oversee & manage the additional 500 homeowners; therefore, you must be prepared to handle this as part of your deal with the new client. The new client is expecting you and your firm to perform the following services:

1. Billing - Each quarter you have to send each homeowner an itemized bill. Dues are $50 per month ($150 per quarter). Late fees are 1 percent per month of the unpaid balance. The bills are mailed the first day of the last month of the quarter. Payment is due by the end of the quarter.
2. Collection - You rent a post office box and will receive the checks there. You are responsible for depositing the checks (you have opened a checking account for the association).
3. Payments - You write about five checks a month. Besides your own monthly fee, there are monthly checks to a lawn maintenance company and a refuse removal company. There are also checks written for taxes, postage, supplies, and the like.
4. Reporting - You are responsible for reporting on all collections, all checks written, outstanding homeowners' balances, and quarterly financial statements.
5. Tax - You are responsible for preparing the association's federal and state tax returns.
6. Advisory - You are responsible for advising the board on an as-needed basis, especially in the areas of budgeting, purchasing, and investment.

Your firm is excited by this opportunity because it is a way to expand your firm?s practice (by offering this type of service to other homeowner associations) as well as adding additional staff.
In term of scope, for this specific opportunity, you are only required to automate the billing and collections services; however, the client is very interested in having automation in other areas. If you decide to automate additional areas (such as payments & reporting), you must be able to demonstrate the benefits for doing this; however, if you decide not to, you must clearly describe the
process for handling these areas from a manual perspective. You will assume that the tax
preparation will be done via a PC-based tax program that your firm already has in place.

Required: Using the methodology developed in this course, document and illustrate the system from an automated and manual function viewpoint. As part of your documentation, you will need to identify the specific system requirements (whether they are automated or no) in the areas of inputs, outputs, and controls for each of the service areas (for your paper, they will be known as business areas) that you are contracted to perform. This analysis will include you providing a mock-up of some sample
documents and reports. Your finish product will be a paper, based upon the following outline.

1. Executive Summary
2. Introduction
? Purpose of New System
3. Proposed System Requirements
? Billing
???? Input Requirements
???? Output Requirements
???? Controls Requirements
? Collection
???? Input Requirements
???? Output Requirements
???? Controls Requirements
? Payments
???? Input Requirements
???? Output Requirements
???? Controls Requirements
? Financial Reporting
???? Input Requirements
???? Output Requirements
???? Controls Requirements
? Tax
???? Input Requirements
???? Output Requirements
???? Controls Requirements
? Others
???? Input Requirements
???? Output Requirements
???? Controls
4. Proposed Manual Functions
5. Make or Buy Decision
6. Challenges to Automation
7. Appendix

Listed below is a summary of each section, including projected page lengths. Your assignment must clearly differentiate different sections.
? Section I ? Executive Summary: In this section, you will provide an executive summary of Section II ? VI. Your summary should be limited to 1 page.
? Section II ? Introduction: In this section, you will provide narrative regarding the current business problem and how automation may or may not address the problem. This section should be 1 ? 2 pages.
? Section III ? System Requirements: In this section, you will document the specific requirements (input, output) required for each of the respective business areas (collections, payments, etc.). As part of each business area, you should identify what data (at the field level) you would need to collect and well as what reports (including what data should appear on the reports) to support transactional processing for each business area. This will be the biggest section of your paper and there is no page limit. As you compose this section, play close attention to the following items:
? When you specify the input data requirements, you will need to specify the actual data element (such as homeowner name, homeowner address) and to what the data element refers (e.g., full name of the homeowner, the address at which the homeowner resides at). You can list these elements in a table.
? For the output requirements, you simply just need to identify the respective data element from the input (no need to recap the description).
? For control requirements, you will need to identify 3 controls that need to be implemented to secure the business area. You will need to explain the control in some sort of degree.

? Section IV ? Manual Functions: In this section, you will identify and discuss the business / accounting functions that are required that can not be automated and explain why. This section should be 1 ? 2 pages.

? Section V ? Make or Buy Decision: In this section, you will discuss whether it make sense to purchase a system (like QuickBooks or Peachtree) to handle this or to develop this system from scratch, using tools like Microsoft Office (Excel/Access) and how much effort it may take to implement the system. This section should be about 2 pages long. You should propose a specific QuickBooks or Peachtree option as part of your BUY decision. In term of Microsoft Office, you will assume that your firm?s resources are capable of developing a system like this.

? Section VI ? Challenges to Automation: In this section, you will identify and discuss the challenges to developing and maintaining this system. This section should be 2 pages.
? Appendix: In this section, you will provide a mock-up of two sample forms; two sample reports; and two sample financial statements.
Your grade for this project will be based on the quality of both content and presentation, considering the following:
? Discussion of all required points related to the outline above.
? Ability to apply concepts from this course in order to design a solution.
? Ability to conduct the appropriate analysis based upon the limited information that has been provided.
? The creativeness of your solution.
? Formatting considerations, such as
o Well-written and free of grammatical and typographical errors
o Professional, neat appearance
o Ability to use specific formatting guidelines (as listed below)
In terms of formatting guidelines, you can rely on the APA writing style or you can follow the below guidelines:
? Inclusion of an appropriate title page & table of contents.
? Use of double-spacing for all text.
? Use of standard margins (1?) throughout the paper.
? Use of standard font and font size (12 point).
? Appropriate usage of page numbering on all pages excluding title page & tables of contents.
? Appropriate use of headings.
? Appropriate use of footnotes, if citing references.
Reminder:
? This is an individual project and not a group project. You are not allowed to consult current and former ACCT326 / 328 students regarding how they would develop a solution. Therefore, the solution presented must be your own recommended solution.
? The only outside research required is related to the selection of a software solution (Peachtree / QuickBooks).
? Your ACCT326 textbook is a guide to help you; however, the textbook will not provide you with
answers to the specifics that this assignment calls for.
? You should be able to begin working on this assignment after reading Chapters 4-8, though you may start the assignment at any point.

Note ? please ensure that you use proper grammar, spell-check, etc.
Write the assignment from the standpoint the client, and not from the standpoint of the accounting firm.

a) Explain the differences between the extrinsic and intrinsic approaches to the classification of accounting system.
*b) Outine and evaluate ONE classification system of each type of approach
c) Assess the usefulness of such classifucation to our understanding of accounting internationally in 2009


Various methods of classifying accounting system have been developed
*a) Summarise and evaluate one classification system that use the deductive approach
*b) Summarise and evaluate one classification system that use the inductive approach
c) Discuss the merits and drawbacks of classifying accounting system.

*means focus
some examples will be better

Im an accountant in a medium size manufacturing company. I have been asked to mentor an accountanting clerk who is new to my accounting department. I need to explain why adjusting entries are necessary. I need to describe the 4 types of adjusting entries, and provide a manufacturing industry example of each. Describe how these entries would be recorded in a computerized accounting system. Describe 1 ethical issue that could result from the prepartion of these manufacturing entries.

mba facmw4+7 nts 200911E 20.09.2011

1. The citation and references should be in the Harvard style.
2. The CITATION AND references should not exceed 15 %
3. Shoud be free of Plagiarism- ZERO PLAGIRISM
4. No grammatical mistakes.
5. No spelling mistakes
6. Prefer the writer : grl101 or Kiran 1976
7. Writer mirandafisher 77 should never be assigned any of my orders
8. The subject organization is : BP (British Petrolium)
9. Files submitted to the university on BP are :
A) Mba oscw4mp1 30811 oprs 200911
B) Mba oscw7mp1 220811 oprs 200911

10. First part ? deadline 22.09.2011 2300 Hrs GMT+3
11. 1000 words Max references not exceeding 6-8

12. Deadline : Second Part - max 10 DAYS ? Based on the report of the instructor for the First Part. (1.10.2011 10 Hrs Lt (GMT+3)
13. 5000 words excluding reference and topic and summary
14. Maximum references : 10-12
FIRST PART
Below is a summary of the forthcoming Module Project (MP) submission requirements in two parts. Please pay careful attention to the Note (under the Chapter 3 information below) about the background information that you will need for Chapters 3?5 of your final Module Project assignment.
Furthermore, any information that is used from your previous research must be fully acknowledged as such and appropriately referenced.

The information given previously is as per the two files enclosed herewith.
General information: Accounting and finance concepts are best understood in context. This project enables you to apply these concepts and demonstrate your mastery of the cumulative subject material. While there are two deliverables (one in W4 and one in W7), the Project really spans the entire module, as it incorporates concepts and ideas from throughout the course.
You should submit your two Module Project assignments as attachments in W4 and 7. This will make it easier to incorporate illustrations, graphs, etc. However, please be selective and be careful not to include too many of these, so that the file size for your ultimate submission is not too large.
Your Instructor will provide you with interim feedback on your first W 4 submission, and you will then have a chance to amend/enhance your work, as appropriate, before using it as the basis of your completed final Module Project paper in W7.
W4 Module Project Proposal Assignment: A first Project Proposal submission of around 1,000 words in required in W4. In this, you will be expected to:
? Describe the scope, aims and objectives of the Module Project, as related to your chosen organisation and with reference to each proposed chapter of your final Project submission.
? Demonstrate an understanding of links to the related underlying academic literature that you will reference in your final Project.
? Describe key steps and milestones for your ongoing and planned research plus how you are planning to achieve these by your final W7 deadline.
This is the second part
Final Module Project Outline: The target length for your final
W7 Module Project is 5,000 words for the main body of your submission (Chapters 1?5). This excludes your front page, executive summary, indices, any appendices and your end references list.
You should remember to include a single A4 page (250-word) executive summary at the start of your finished paper. Please also include a title page, with the title of the paper, including the organisation that you have researched and the author?s name, plus a word count for the main body of your submission. Also be sure that you include page numbers, a comprehensive index, separate indices of tables and figures, all appropriate in-text references and a final references list.
Chapter 1: The accounting function in your chosen organisation
In this initial chapter, you are required to ?set the scene? for what is to come. Here are some questions and pointers that may assist you with this:
? Background of the organisation: Describe its history, objectives, size and organisational structure. Note in particular any global or transnational interrelationships.
? Stakeholders: Identify the different stakeholders who are interested in your organisation and the objectives of each with regard to your organisation.
? Key resources of your organisation.
? Corporate governance: Identify the manner in which your organisation is directed and controlled. Are the corporate governance structures in line with what you would expect?
? The role of accounting within the organisation: Financial vs. management accounting?are these functions separated?
? Is the accounting role effective in your opinion? How is it organised? Could it be improved? Has it changed in recent years? If so, why?
? What accounting software is used? Why was this chosen? Is it effective for the organisation?s needs? Might it be changed in the near future?
? How and when do the accountants interact with other managers/third parties? Is use made of external accounting advice?
N.B. You will be addressing some of these issues in more detail in your later chapters, so remember that this is intended as an introduction to your organisation; you need not go into too much detail. Please read through the subsequent chapters? requirements in order to plan your overall research paper to best effect at this stage.
Recommended length for Chapter 1: 3-4 double-spaced A4 sides
Chapter 2: A financial accounting analysis of the organisation
In this second chapter, you should concentrate on the financial accounting information that is required for the organisation that you are studying. This will clearly vary depending on the organisation?s size and the regulatory rules to which it is subject. That the information varies does not matter; indeed, it is extremely interesting to consider what different requirements might apply.
You are also required to analyse the financial status of your organisation, as portrayed by the financial statements (accounts). Here are some questions and pointers that may assist you with this:
? Does the business look healthy? Is it growing?
? How is it financed? Is it highly geared (leveraged)?
? How sound is working capital management, as indicated by the balance sheet and trends in the appropriate financial ratios?
? What do recent profitability trends suggest?
? Calculate other key ratios and interpret these.
? If your organisation is in the not-for-profit sector or the governmental sector, how are its operations assessed?
? How does the organisation compare with close competitors/industry averages/other benchmarks?
? Are there interesting issues that show up in the notes to the financial statements?
? Who requires these financial statements? What is each of the user groups particularly interested in?
? Are there qualitative factors which you consider to be important and which are not reflected in the financial statements? Do these affect resource management?
? Have the accounts been audited, and, if so, do the audit reports provide additional information?
? Are there any ethical or social (CSR) issues that have a bearing on the organisation and its resource management?
Recommended length for Chapter 2: 5 double-spaced A4 sides
Chapter 3: A management accounting analysis of the organisation
In this third chapter, you should concentrate on the management accounting information that is required for the organisation you are researching. This will clearly vary, once again, depending on the organisation?s size and the regulatory rules to which it is subject.
You are now required to analyse the internal accounting systems within your organisation (the MIS). These are the sorts of questions that you might address:
? Is there a structured management accounting system in place?
? Are budgets regularly prepared?
? How does the budgeting system work? What sorts of budgets are generated?
? Is participative budgeting in place?
? How are variances identified and analysed?
? Is the budgeting system effective?
? What sort of costing structure is in operation?
? Does the organisation use ABC? If not, might this be helpful?
? Is break-even analysis undertaken? Can you estimate the break-even point (BEP) for key products/services?
? How are prices calculated?
? How well is management accounting information disseminated and communicated in order to manage resources effectively? Do employees have access to the information needed for them to perform their jobs effectively?
? Is accounting and finance software utilised? If so, is this successful and effective?
? Have management accounting changes occurred in the recent past? Are there any in the pipeline?
? How successful do you think the management accounting system is overall? How might it be improved?
Recommended length for Chapter 3: 5 double-spaced A4 sides
Chapter 4: A financial management analysis of the organisation
In this next chapter, you should concentrate on the financial management information and strategies that are, or would be, beneficial to the organisation you are studying, plus the way in which capital budgeting decisions are made. This will clearly vary, once again, depending on your organisation?s size, type and national characteristics.
These are some of the questions you might like to consider:
? What financial management strategies are in place in the organisation that you are researching?
? Have these changed in the recent past? Are any under current review?
? How is capital budgeting undertaken?
? How are capital projects financed?
? How is capital rationing taken into account?
? How successful do you think the financial management system is?
Recommended length for Chapter 4: 3?4 double-spaced A4 sides
Chapter 5: Conclusions and SWOT analysis
In this final chapter of your Module Project, you should present your conclusions and recommendations pertaining to the accounting and finance functions within your chosen organisation. This will involve you succinctly bringing together your findings from each of your previous chapters and critically analysing these. Your narrative should be cross-referenced back to your earlier conclusions and recommendations from these previous chapters.
Consider, in particular, the organisation?s corporate governance structure and attitude towards corporate social responsibility. Does the corporate governance structure appear to be operating effectively? Does it position the organisation appropriately to be successful in the future? What actions, if any, has the organisation taken to address its social corporate social responsibilities? Do you believe these are adequate? Are there opportunities for change and improvement?
It is suggested that you incorporate a SWOT analysis as the central part of this final chapter, so that you can readily compare and contrast the organisation?s strengths and weaknesses, plus the future opportunities and any threats that it faces, from an overall perspective.
Recommended length for Chapter 5: 3?4 double-spaced A4 sides
DEADLINE : 1.10.2010 10 HRS LT (gmt+3)

Basis of Accounting

Accurate budget information is critical to the larger financial management picture of an organization. The budget process feeds into the accounting system. The accounting function includes the set of procedures that record, classify, and report on the finances of a business, government, nonprofit organization, individual, or other entity. Accounting encompasses much more than simple bookkeeping and in the case of government and nonprofit organizations; it can aid policymakers in making decisions and be a source of information for the public. In this Assignment, you will practice the method of double-entry accounting by applying it to an organizational scenario of transactions.

To prepare for this assignment:
Focus on the necessity of accurate accounting in public organizations.
Review the Web site "Understanding Financial Statements." Focus on the usage and process of double-entry accounting. Complete the practice exercise.
Review the Web site "QuickMBA: Double-Entry Bookkeeping," focusing on the purpose and process of this accounting method.
The assignment: (1?2 pages)


Application: Bases of Accounting. Perform the following:

The ______________ basis of accounting recognizes income when it is earned and expenditures when they are incurred.

a. Primary
b. Accrual
c. Checkbook
d. Cash

Briefly explain which basis of accounting and the reasons why that basis of accounting is not desirable for most organizations.

Web Sites:
Bizzer Professional Training: Understanding Financial Statements
http://www.bizzer.com/images/Financial/
Governmental Accounting Standards Board
http://www.gasb.org/
QuickMBA: Double-Entry Bookkeeping
http://www.quickmba.com/accounting/fin/double-entry/

Submit a 4-6 page paper on the topic listed below, incorporating at least two related articles of your choice:

How have modern accounting systems made a difference in modern organizations?


The paper must (a) identify the main issues in the chosen area, (b) contain and reference new learning that has occurred, (c) build upon class activities or incidents that facilitated learning and understanding, and (d) present specific current and/or future applications and relevance to the typical workplace.

Read all of the articles in the background readings. Then develop a well organized essay which addresses the following questions. Be sure to support your answer with appropriate citations and arguments.

What are the relative tradeoffs in assessing and utilizing cost accounting systems? Why do these approaches to cost accounting differ among nations or do they? How should companies approach the challenge of developing meaningful systems which are universally accepted?



Case assignment expectations:

Use information from the modular background readings as well as any other reliable resources you use. Please cite all sources and provide a reference list at the end of your paper.

LENGTH: 2 pages typed and double-spaced.

The following items will be evaluated in particular:

Your ability to identify the relative tradeoffs in assessing and utilizing cost accounting systems
Your ability to include the best practices in cost accounting in the US and International Communities
Explain the approach to develop an universally accepted cost accounting system


Resources-Background Info:


Abdallah, Abed Al-Nasser and Li, Wei. (2008). Why did ABC fail at the Bank of China? Management Accounting Quarterly. http://proquest.umi.com/pqdweb?index=0&did=1622307191&SrchMode=1&sid=7&Fmt=3&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1301590113&clientId=29440

de Modesti, Marco Antonio & Eriksen, Scott. (2008). The redesign and implementation of a cost accounting system for America Latina Logistica. Management Accounting Quarterly. http://proquest.umi.com/pqdweb?index=0&did=1622307251&SrchMode=1&sid=8&Fmt=3&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1301590176&clientId=29440

Krumwiede, Kip and Suessmair, Augustin, (2008). A closer look at German cost accounting methods: a survey of the cost management systems used by companies in Germany, Switzerland, and Austria. Management Accounting Quarterly. Retrieved July 26, 2010, from http://findarticles.com/p/articles/mi_m0OOL/is_1_10/ai_n31370936/?tag=r bxcra.2.a.55

Lockhart, Julie and Taylor, Audrey, (2007). Environmental considerations in product mix decisions using ABC and TOC. Management Accounting Quarterly. http://proquest.umi.com/pqdweb?index=0&did=1411673321&SrchMode=1&sid=9&Fmt=3&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1301590287&clientId=29440

Optional Readings

Aghili, S. 2011. Throughput Metrics Meet Six Sigma. Management Accounting Quarterly. Montvale: Spring 2011. Vol. 12, Iss. 3; pg. 12. http://proquest.umi.com/pqdweb?index=6&did=2429844141&SrchMode=1&sid=6&Fmt=2&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1315214508&clientId=29440

Portz, K., Lere, J. C. 2010. Cost Center Practices in Germany and the United States: Impact of Country Differences on Managerial Accounting Practices. American Journal of Business. Muncie: Spring, 2010. Vol. 25, Iss. 1; pg. 45. http://proquest.umi.com/pqdweb?index=25&did=1992507361&SrchMode=1&sid=6&Fmt=2&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1315214891&clientId=29440

Essay Question

Critically evaluate how accounting researchers have developed theories and methodologies to classify accounting systems internationally,

Textbook used for this topic
Nobes, C.W. and Parker, R.H. (2002) comparative International Accounting, 7th edn, Pearson Education, Edinburgh Gate.

SELECT A COMPANY OF YOUR CHOICE
Company Overview
Business activity


ACCOUNTING SYSTEMS
Description of the accounting system including any software used for their financial reporting and tracking of activities


INTERNAL CONTROLS:
Define internal controls
Describe the companys internal controls


FINANCIAL STATEMENT REVIEW
Define and explain each statements relation to the companys activity,
Income statement
Retained Earnings statement
Balance Sheet
Cash flow


RATIO ANALYSIS
Define Ratio analysis
Calculate ratios using two years financial statement data of the company selected for the following:
Three liquidity ratios
Three profitability ratios
Two Solvency ratios
Explain your ratios by comparing the two years data.


CONCLUSION

Attach copies of the data used to calculate the ratios.
Please use current financial statements
Income statement
Retained Earnings statement
Balance Sheet
Cash flow

Discuss and explain the contribution of the following organisational theories on the development of the management accounting system.

- Structural theories (bureaucracy, Taylor's scientific management and Fayol's administrative theory)

- behavioural theories (human relations and human resources)


Do not provide a description of any of the theories.

You are to write a 3-page paper. You are to State the Question First and then continue to answer. Read the Case Study, at the end of case study answer the discussion question. Do Not Use Outside Sources.

Chinas Developing Accounting System

Attracted by its rapid socialist planned economy into a market economy, economic annual growth rate of 10 to 12 percent, and a population in excess of 1.2 billion, Western firms over the past 10 years have favored China a site for foreign direct investment. Most China as an emerging economic superpower with an economy that will soon be as large as that of Japan and will surpassed United States in sizes sometimes after 2010 if current growth projections hold true.
The Chinese government fees for a direct investment as a primary engine of Chinas economic growth. To encourage such investment, the government has offered generous tax incentives to foreign firms that invest in China, either on their own or in a joint venture with a local enterprise. These tax incentives include two-year exemption from corporate income tax following an investment, plus a further three years during which taxes are paid at only 50 percent of the standard tax rate. Chinas vast internal markets have made the country a prime site for investment by Western firms. However, once established in China, many Western or firms find themselves struggling to comply with the complex and often obtuse nature of Chinas rapidly evolving accounting system.
Accounting in China has traditionally been rooted in information gathering and compliance reporting designed to measure the governments production and tax goals. The Chinese system was based on the old Soviet system, which had little to do with profit or accounting systems created to report financial positions or the results of foreign operations. Although the system is changing rapidly, many problems associated with the old system still remain.
One problem for investors is a severe shortage of accountants, financial managers, and auditors in China, especially those experienced with market economy transactions and international accounting practices. Estimates suggest that China needs some 600,000 accountants, but as of 2003 there were still only 130,000 in the country. Chinese enterprises, including equity and cooperative joint ventures with foreign firms, must be audited by Chinese accounting firms, which are regulated by the state. Traditionally, many experienced auditors have audited of the state owned enterprises, working through the local providence or city authorities in the state audit Bureau to report to the Government entity overseeing the audited firm. In response to the shortage of accountants schooled in the principles of private sector accounting, several large international auditing firms have established joint ventures with emerging Chinese accounting and auditing firms to bridge the growing need for international accounting, tax, and securities expertise. Still, the current lack of experienced auditors in China raises questions about how accurate the financial statements of Chinese companies actually are.
This is becoming an issue for foreigners since more and more Chinese companies have been tapping global capital markets, and more foreigners have been investing in Chinese companies through the Shanghai Stock exchange. Foreign investors want to be assured that the financial picture they are getting a Chinese enterprises is reliable. So far, that has not always been the case. In December 2003, for example, China Life Insurance successfully listed its on the Hong Kong and New York stock exchanges, raising some $3.4 billion. However, in January 2004, the head of Chinas National Audit Office let it slip that a routine audit of China Lifes state-owned parent company had uncovered $652 million in financial irregularities in 2003. The stock immediately fell, and China Life found itself the target of a class action lawsuit on behalf of the US investors claiming financial fraud. Shortly afterward, plans to list China Minsheng Banking Corp., Chinas largest private bank, on the New York Stock Exchange were put on hold after the company admitted that it had faked a shareholder meeting in 2000. The stock of another successful Chinese offering in New York that of Semiconductor Manufacturing International slid in 2004 when its chief financial officer made statements that contradicted those contained in filing with the US Securities and Exchange Commission.
Apart from weak auditing, another probable cause of problems such as these has been the somewhat halting evolution of Chinas emerging accounting standards. Lacking its own standards, China has signaled that it will move toward adopting international standards developed by the IASB. In 2001, China adopted a new regulation, called the Accounting System for Business Enterprises, that is largely based on ISAB standards. The system is now used to regulate both local and foreign companies operating in China. Still, the Chinese have not totally embraced IASB rules, and they may not. As recently as 2004, the chief accounting regulated in China stated that the country would follow some but not all IASB rules because international rules do not take into consideration the special situation in China. He said, China is different from other Western markets in many areas. China still has many companies that are state owned enterprises while overseas markets mainly had privately owned companies. He went on to note, We would like (international) standards to be set in a way that gives more consideration to the market situations in China, or else give exceptions in accounting treatment for Chinese firms.

Discussion Question
If the evolving Chinese system does not totally conform with IASB standards, but instead to standards that the Chinese government deems appropriate to Chinas special situation.

Question: How might this affect foreign firms with operations in China?

1. Discuss how the global economy has created a need for an accounting system such as IFRS.

2. Create an argument for or against one global set of accounting standards.

Book - Financial Accounting - 8th Edition

You Are an Entrepreneur!
Student life does not generally afford a great deal of free time to pursue your personal interests; however, at one point, you may have considered turning a personal interest or hobby into an official enterprise. Today, you have finally decided to turn that hobby into a business but have realized that you need start-up capital from a lender or investor.
To obtain funding, you need to convince a lender / investor that your business is more than a hobby. You need to demonstrate that you have a firm grasp of your business, the accounting practices that impact your business, the controls needed to safeguard assets, and which accounting system will produce accurate and relevant financial information.
Write a six page business plan in which you:

1. Describe the type of business you have created including:

a. The product or service, and general staffing plan. Provide a rationale for your plan.

b. The form of your business and the benefits it offers your particular business,

c. A chart of accounts specific to your business, including a rationale as to the selection of each account. (Note: The chart of accounts is a blueprint of your business for the lender/investor. It should report the expected resources that you will consume in your business (assets), the sources of those resources (liabilities and equity), the sources of revenue, and expenditures that you expect to incur to earn those revenues. You may build a detailed chart that includes business units, divisions, product lines, etc.)

2. Based on the form of your business, analyze whether or not you will be required to use Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) accounting methods and how the IFRS / GAAP convergence will impact your business. Suggest how you will incorporate any changes into your books and records. (Note: You need to demonstrate to the lender/investor that you have recognized possible changes to GAAP that may impact the accounting and reporting of your accounting events.)

3. Prepare a pro forma balance sheet and income statement providing the assumptions made and support the valuations assigned.

4. Considering the value of assets (assigned per your balance sheet) used within your business, recommend two (2) specific internal controls that you will implement to protect your companys assets and resources, justifying how each will provide assurances to management. (NOTE: Safeguarding assets and protecting personal data are paramount to ensuring the viability of a business. Demonstrate to the lender/investor that your assets will be safeguarded and customer information (if applicable) will be protected.)

5. Based on the internal control recommendations that you made, suggest how you will implement each within your business environment, indicating how challenges or resistances will be overcome.

6. Evaluate the impact of the regulatory environment, including the Sarbanes-Oxley Act and other regulatory requirements, on your business venture, giving considering to how you intend to comply with the requirements and the general impact to decision making within your business.

7. Use at least four (4) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources.

This assignment must follow these formatting requirements:

Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA.

'Contingency theory suggests that 'it all depends', in relation to the variety of variables that have to be taken into account before designing an appropriate Management Accounting System.'

Do you agree, or do you think there are certain Management Accounting Systems which almost automatically lend themselves to certain types of organizations?


Note about Plagiarism

Occasionally, students make the mistake of 'going too far in the other direction' and they include too many direct quotes in a submission. If the proportion of quotations in a submission exceeds 30%, then the grade would probably be Fail even if all the copied materials are properly cited.

Assignment 4: Changing the AIS

Due Week 10 and worth 320 points

Migrating to a new accounting information system is not an easy task. Many firms have struggled with this process, even though our textbook makes the process seem quite straightforward. Recently, IBM recapped some of the lessons learned in migrating to a new accounting information system within the federal government. These lessons can be applied to any accounting information system project. Others have developed their own recommendations for best practices and lessons learned involving implementing accounting information systems. However, in order to appreciate what IBM and others are proposing, we need to apply lessons learned to a real-life situation involving the failure to implement an accounting system properly.

For this assignment, research the Internet or Strayer databases for information related to a real-life accounting information system failure and best practices, as well as lessons learned from implementing the accounting system. In addition to information that you may find during your research, please use the following IBM article to complete the assignment: (http://www.businessofgovernment.org/article/what-we-know-now-lessons-learned-implementing-federal-financial-systems-projects).

Write a ten to twelve (10-12) page paper in which you:

Identify three to five (3-5) factors that contributed to the accounting information system failure within the business that you have identified. Indicate the impact to the business. Provide support for your rationale.
Assess senior management responsibility for the failure in question. Specify what the senior management could have done differently to avoid the failure. Provide support for your rationale.
Evaluate whether the most significant failure occurred within the system design, implementation, or operational phase of the process. Indicate what the company could have done to avoid the failed outcome. Provide support for your rationale.
Evaluate how implementing best practices would have reduced the chances for failure. Provide support for your rationale.
Based on your research, develop a list of between four (4) and six (6) best practices that organizations should use today to reduce the chances for failure. Provide support for your rationale.
Using the information provided by IBM and others, indicate which of the principles designed to provide insight into effective and efficient strategies on how to best deploy financial management systems, which were outlined within the related article, should serve as an example of what not to do when establishing the foundation for a firm to follow. Your proposed foundation should consist of at least two (2) principles, but no more than six (6). Provide support for your rationale.
Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.

Rewrite this paper in the issue, rule, analysis and conclusion format (irac) with different words that communicate the same meaning in this essay.

Introduction
As leader in the plastic molding and parts industry, Riordan knows the importance of producing innovative and quality products. The company also understands how internal structure goes hand-and-hand with company objectives. This paper points out some internal problem areas that can affect company objectives. Areas of discussion include finance and accounting, training budget, shipping and receiving, human resources, and the new pyramid bottle cap design. Each area includes the issue, rule, analysis, and conclusion.
Finance and Accounting
Issue
Riordan?s success stems from its ability to remain industry leader of custom plastic parts and by providing viable solutions to its customers. After careful analysis of the company?s finance and accounting systems Riordan Manufacturing cannot accomplish seamless compatibility and potential violations of the General Accepted Accounting Principles (GAAP) is highly possible. Riordan?s three operating entities Georgia, Michigan and California plus the joint venture with the People?s Republic of China each have its own finance and accounting systems. Each entity provides consolidated input to corporate office in San Jose, California.
Rule
The Financial Accounting Standard Board (FASB) under the authority of the Securities Exchange Commission is the governing body that established standards for financial accounting. Financial statements are governs finance and accounting standards important to the economy because investors, creditors, auditors and others rely on the credibility, transparency, and comparable financial information (Financial Accounting Standards Board). Generally Accepted Accounting Principles are uniform minimum standards of guidelines for financial accounting. GAAP established appropriate measurement and classification criteria for financial reporting. Compliance to GAAP provides a reasonable amount of comparability among financial reports of state and local government units.
Analysis
Riordan failure to address the financial and accounting system?s compatibility issue upon acquiring Michigan and Georgia operating entities could prove costly. The analysis of the current Finance and accounting system shows San Jose has a license integrated completely Windows-based ERP manufacturing, distribution and financial management software application designed particularly for plastic processors and process, and assembly manufacturers (University of Phoenix, 2010). The application does not include the source code with the license. Michigan has a vendor developed software application and the attendant source code. The vendor is no longer in business. The software application runs on a pair of DEC?s alpha using VMS operating system, VAX4000 work stations programmed in C. Georgia has a developed software application and an attendant source code to process manufacturing process applications. Georgia system programmed in RPG400 runs on a pair of AS400?s using UNIX operating systems and PC?s as workstations (University of Phoenix).
The corporate office cannot reach ideal compatibility. Each of the three operating entities sends its finance and accounting data to corporate as data files and hardcopy reports. Extra time is necessary to re-enter the hard copy reports and convert the data files to the proper account codes. On the other hand, output is just as challenging. Corporate attempts to combine the data for the general ledger, the balance sheet and income statement is labor exhausting and delays completion to 15-20 days after the month ends. To include external auditors corporate must exude exhaustive labor and additional costs. Corporate effort to meet compliance with new government reporting requirements at the consolidated level becomes more challenging each day. Riordan Enterprises refuses to accept this situation and mandates an alternative method.

Conclusion
Riordan?s current financial and accounting process is time-consuming and costly to say the least. Too much time is spent collaborating data to generate financial statements and ensure compliance with government mandated reporting requirements. The numerous deficiencies found in the finance and accounting prevents Riordan from achieving its full potential. One solution requires upgrading San Jose (corporate) system to include the application source code. The next step is to transform Michigan, Georgia and China to mirror San Jose corporate system. Riordan stands to benefit substantially from this move. After these two steps are complete training is essential for smooth transition and increase efficiency. Some of the benefits include a reduction in process time, elimination of converting data files, and hard copies, more accurate government reporting and less frustration for accounting employees. In general, Riordan can direct its focus on achieving and maintaining reasonable profitability (Riordan Manufacturing, 2006).
Training Budget
Issue
Training budget is over budget. Project management must determine how this happened and determine a viable remedy. Dale Engel, Chief Financial Officer wants to know if Riordan can perform effective training through teleconferencing. Dale Engel has set aside a budget and a timeline for completion.
Rule
Company Directives-Training Budget Guidelines
Analysis
An analysis of the situation reveals a significant increase in the general and administrative line is up from last year and from the previous quarter. The training budget is nearly $100,000 over budget for the quarter. The increase appears to come from overrides in emergency training of the rollout of new systems. Questions center on if some employees charged new project training against the wrong cost center. To add to the confusion the Machining and Systems line also came in just over budget. Human resources management anticipated that travel and training cost would increase with the implementation of the systems integrations project. Project management failed to include training along with the technology projects training material and strategy development.
Further analysis also reveals specific travel details that contribute to the added costs. Some examples include 22 domestic round trips, three round trips between San Jose and China, per diem costs, hotels, rental cars, and overtime, to name a few. Each component of costs may prove verifiable but does a better method exists that would allow the training management teams to accomplish the same goal. One costly mistake was not integrating training into product development. The result of this mistake is a primary reason that training is now over budget.
Conclusion
Riordan Manufacturing needs to develop a high-priority project that would provide a solution for distance learning performed effectively through teleconferencing. According to Encarta? World English Dictionary (2009), ?teleconferencing is videoconferencing via telephone lines using restricted frequency bands that would allow participants to conduct meetings by way of telephone connection.? Using teleconferencing would reduce if not eliminate numerous costs associated with travel expenses. The benefits include reaching large or small populations, wider access to public meetings; and a wider group of people brings a wider range of ideas; an excellent training tool; saves time and travel costs; and saves the company and people money.
Teleconferencing would provide numerous benefits to Riordan but Riordan must not leave out any necessary costs in the budget. Associated costs include equipment, connection sites, transmissions, and moderator training (United States Department of Transportation Federal Highway Administration). Project management must also account for the complexity of implementation of teleconferencing. Basic equipment include personal computers, main computer control system, dedicated telephone lines or satellite hook-up, a television or computer monitor for each participating group and a video camera for each participating group (United States Department of Transportation Federal Highway Administration). Although the initial costs of implementing teleconferencing may seem high the benefits would eventually outweigh the costs and soon return a savings because of the investment. Riordan already have some of the items needed to bring this idea into fruition but training is a must. As long as project management include every cost of implementation and set safeguards for prevention of budget spending (example: pre-approvals from vice-president or a higher authoritative person) this could prove a profitable solution to Riordan training dilemma.
China Move-Receiving-Shipping
Issue
Riordan Manufacturing has a set of procedures in place to ensure consistency and quality control at all locations. The common set of procedures applies to receiving of raw materials, tracking during manufacturing, and accounting of finished good inventories. The issue with Riordan?s common set of procedures is that it contains unnecessary steps, heavy dependency on paper forms and human input that creates a high potential for error.
Analysis
When the delivery of raw materials arrive in receiving the shipping document passes from the driver to the shipping area supervisor (for validation). After validation, receiving staff unloads the raw materials and take the materials to the raw materials area. The receiving supervisor gives the log of raw materials received and the shipping documents to the receiving clerk for entry into the inventory system. The receiving clerk enters types of materials, the vendors, and the quantity received.
During manufacturing operations the manufacturing team logs the amount of raw materials used on a raw materials use form. Manufacturing team gives the form to the inventory clerk who enters the information into the inventory system upon receipt of the form. At the end of the day the manufacturing team also gives a form with the number of sub-assemblies and completed end-product for each day.
In the shipping department sales orders come via phone or fax. A shipping clerk enters the sales orders in customer shipping and billing system. The shipping department loads the trucks according the shipping document that generates daily. The shipping clerk uses the shipping documents to update the inventory system. At the end of the year a clerk reconciles raw material quantity, sub-assemblies and finished products against a physical inventory.
Conclusion
A close review of Riordan?s inventory management and control system reveals use of eight different forms from receiving raw materials to the driver leaving the shipping area. A clerk has to enter each of these forms into the inventory system. The potential for error increases each time a clerk enters a form into the inventory system. Tracking is sometimes difficult if someone in the company needs information right away. For example, the shipping clerk does not enter some information in the inventory system until the end of the day. A person may have to research hand-written logs to confirm data. The entire process is time-consuming, labor demanding, and not cost-effective.
One solution to increase efficiency is to integrate Radio Frequency Identification (RFID) technology. According to the Association for Automatic Identification and Mobility (2010), ?RFID is a system that transmits the identity (in the form of a unique serial number) of an object or person wirelessly using radio waves? (Association for Automatic Identification Para 1). The RFID system allows information transmission by a portable mechanism (tag), then read by an RFID reader and processed based on needs of the application. RFID is beneficial for tracking, supply chain management, retailing, and payment systems, and security, and access control (Association for Automatic Identification, 2010). When Riordan Manufacturing receives raw materials the RFID device will scan the item bar code, update the inventory system, allow easier tracking, reduces time, and also updates inventory when finished goods ships out of inventory. The RFID system eliminates majority of the forms currently in use and reduces errors from human input. The savings incurred could be used to increase profit margin in other areas of the company.
Human Resources- Calendar Complaint
Issue
The issue in this complaint involves Edwina Hernandez, an employee who becomes offended by a calendar of women in bathing suits hanging on the back of Ed Ledford (another employee) door. Human Resources must investigate and determine if this is indeed sexual harassment.
Rule
Title VII (Civil Rights Act) and Employee Handbook
Title VII of the Civil Rights Act prohibits sexual discrimination in the workplace. Title VII classifies sexual harassment as a type of sexual discrimination and is a violation of Title VII (The US Equal Opportunity Employment Commission).Title VII categorizes sexual harassment in two forms, one quid pro quo and atmosphere of harassment. Quid pro quo cases are those in which employers requires employees to agree to sexual advances to remain employed. The United States Equal Employment Opportunity Commission is the governing agency that investigates sexual harassment (and other sexual discrimination claims) complaints filed. Atmosphere of harassment are those in which invitations, language, pictures or suggestions become so pervasive that it creates a hostile work environment (Jennings, 2006).
Analysis
When Edwina told Allen Tanis (Assistant Plant Manager) about the calendar incident she asserts emphatically the calendar has ?naked women? on it. Allen told Edwina to contact Karen Essenburg, an employee specialist and follow procedures of a sexual harassment claim. Edwina was very insistent that she would not cooperate with Human Resources to file a sexual harassment claim against Ed Ledford (Team Superintendent). Allen reported Edwina?s accusation to Karen and Ed went to talk to Ed. The calendar in question did not have ?naked women? but rather women in bathing suits. After Karen told Ed that the calendar may not be appropriate in the workplace Ed took it down and threw it in the trashcan.
Conclusion
Riordan Manufacturing handbook has a policy governing business ethics and conduct and guidelines for sexual harassment. According to Riordan?s employee handbook, ?any supervisor or manager who becomes aware of possible sexual harassment must notify Human Resources Director or any member of management so that it can be investigated in a timely and confidential manner? (Riordan Manufacturing, 2010) p. 20. Allen Tanis actions were consistent with the company policy regarding management duty to act in relation to sexual harassment. Because Ed took the calendar down and threw it in the trashcan his action may prevent further actions taken against him. Ed should have known that calendar is not appropriate for the workplace Edwina refusal to cooperate with Human Resources may prevent her from filing a sexual harassment claim.
Pyramid Bottle ?New Cap Design
Issue
Riordan?s customer The Taylor Group has asked for a new bottle top design that will complete the pyramid shape. Because Taylor Group is working with the French government on another of its products who is receiving pressure to include French companies in its work. Riordan must determine all items that need consideration moving forward.
Rule
Intellectual property laws, trade agreements

Analysis
Riordan?s customer The Taylor Group wants a new bottle cap design to make the pyramid bottle complete. The designers have a new design ready to go. Because Taylor Group is working under pressure from the French government to include more French companies for some if its work the need for intellectual property protection is essential. Taylor Group wants the new bottle caps outsourced to a French company. Riordan has details to outsource the bottle cap production to the Boffy Company.
Conclusion
Some of the items that Riordan must consider before moving forward with the new bottle design are intellectual property (patents, copyrights, and trademarks), and trade agreements. Utility or function patents are those that cover machines, processes, and improvements (Jennings, 2006). Riordan will want to protect any current or existing process or improvements. Design patents provide protection of a product?s features (example: Riordan new bottle cap and bottle design). Riordan will also want to protect its ideas, photographs, name, and logos that will give Riordan exclusive rights to sell, control, or licensed its copyrighted works (Jennings, 2006). Copyrights are important especially if the French companies share in some of Riordan?s work. Another important consideration is for Riordan is trade agreements. Trade agreements have specified terms for the free flow of goods throughout trade countries. One important trade agreement to the United States is the Geneva-based General Agreement on Tariffs and Trade (GATT). GATT was set-up to develop uniform trade policies between the United States and European Union countries (Jennings, 2006). Riordan should review the specific details of GATT when working with European nations like France.










References
Association for Automatic Identification and Mobility: Technologies: RFID / What is RFID?. Retrieved from the internet at http://www.aimglobal.org/technologies/rfid/what_is_rfid.asp
Encarta? World English Dictionary [North American Edition] ? & P (2009) online Retrieved from http://www.bing.com/Dictionary/search?q=define+teleconferencing&FORM=DTPDIA&qpvt=teleconferencing+definition

Federal Accounting Standards Advisory Board. Retrieved from the internet on May 16, 2020 at http://www.fasab.gov/accepted.html
Financial Accounting Standards Board http://www.fasb.org/jsp/FASB/Page/SectionPage&cid=1176154526495
Generally Accepted Accounting Principles. Retrieved from the internet on May 16, 2010 at http://www.ofm.wa.gov/policy/80.20.htm
Jennings, M. M. (2006). Business: Its legal, ethical, and global environment (7th ed.). Mason, OH: Thomson.
The UNITED STATES Equal Employment Opportunity Commission: Facts about Sexual Harassment. Retrieved from the internet at http://www.eeoc.gov/facts/fs-sex.html
US Department of Transportation: Federal Highway Administration. Retrieved from the internet on May 18, 2010 at http://www.fhwa.dot.gov/reports/pittd/teleconf.htm

First read the following and (1) compare competing cost accounting approaches (including advantages and disadvantages), and (2) discuss cost accounting methods used and best practices in different countries. Reading these materials carefully should help you complete and respond to the assignment expectations adequately.

Start with the additional files that I attached then the following:

Abdallah, Abed Al-Nasser and Li, Wei. (2008). Why did ABC fail at the Bank of China? Management Accounting Quarterly. http://proquest.umi.com/pqdweb?index=0&did=1622307191&SrchMode=1&sid=7&Fmt=3&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1301590113&clientId=29440

de Modesti, Marco Antonio & Eriksen, Scott. (2008). The redesign and implementation of a cost accounting system for America Latina Logistica. Management Accounting Quarterly. http://proquest.umi.com/pqdweb?index=0&did=1622307251&SrchMode=1&sid=8&Fmt=3&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1301590176&clientId=29440

Krumwiede, Kip and Suessmair, Augustin, (2008). A closer look at German cost accounting methods: a survey of the cost management systems used by companies in Germany, Switzerland, and Austria. Management Accounting Quarterly. Retrieved July 26, 2010, from http://findarticles.com/p/articles/mi_m0OOL/is_1_10/ai_n31370936/?tag=r bxcra.2.a.55

Lockhart, Julie and Taylor, Audrey, (2007). Environmental considerations in product mix decisions using ABC and TOC. Management Accounting Quarterly. http://proquest.umi.com/pqdweb?index=0&did=1411673321&SrchMode=1&sid=9&Fmt=3&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1301590287&clientId=29440

Aghili, S. 2011. Throughput Metrics Meet Six Sigma. Management Accounting Quarterly. Montvale: Spring 2011. Vol. 12, Iss. 3; pg. 12. http://proquest.umi.com/pqdweb?index=6&did=2429844141&SrchMode=1&sid=6&Fmt=2&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1315214508&clientId=29440

Portz, K., Lere, J. C. 2010. Cost Center Practices in Germany and the United States: Impact of Country Differences on Managerial Accounting Practices. American Journal of Business. Muncie: Spring, 2010. Vol. 25, Iss. 1; pg. 45. http://proquest.umi.com/pqdweb?index=25&did=1992507361&SrchMode=1&sid=6&Fmt=2&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1315214891&clientId=29440


ASSIGNMENT
Now develop a well organized essay which addresses the following questions. Be sure to support your answer with appropriate citations and arguments.

What are the relative tradeoffs in assessing and utilizing cost accounting systems? Why do these approaches to cost accounting differ among nations or do they? How should companies approach the challenge of developing meaningful systems which are universally accepted?

assignment expectations:

Use information from the modular background readings as well as any other reliable resources you use. Please cite all sources and provide a reference list at the end of your paper.

LENGTH: 3-4 pages typed and double-spaced, 12 pt Times New Roman Font, 1 inch margins (all)

The following items will be evaluated in particular:

Your ability to identify the relative tradeoffs in assessing and utilizing cost accounting systems
Your ability to include the best practices in cost accounting in the US and International Communities
Explain the approach to develop an universally accepted cost accounting system
Grading rubric:

http://dl.dropbox.com/u/16251375/Graduate/ACC%20504%20grading%20rubric.docx

You are an accountant in a medium-sized manufacturing company. You have been asked to mentor an accounting clerk who is new to your accounting department.

?Explain why adjusting entries are necessary.
?Describe the 4 types of adjusting entries, and provide a manufacturing industry example of each.
?Describe how these entries would be recorded in a computerized accounting system.
?Describe 1 ethical issue that could result from the preparation of these manufacturing entries.

Assignment 3: Forensic Accounting in Practice
Due Week 6 and worth 160 points

Using the WileyPlus resources, go to the ?Forensic Accountants: Fraud Busters? examplee.

Write a six to eight (6-8) page paper in which you:
Determine the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations.
Describe the role of a forensic accountant within a courtroom environment.
Analyze the legal responsibility a forensic accountant has while providing service to a business.
Research two (2) cases where forensics accountants have provided vital evidence in a case. Summarize the cases and the importance of the forensic accountants? role during each case.
Use at least five (5) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student?s name, the professor?s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
Analyze the components of the basic financial statements, and conduct trend and ratio analysis to assess a firm?s financial performance.
Use technology and information resources to research issues in contemporary business.
Write clearly and concisely about contemporary business using proper writing mechanics.

the WileyPlus resources, go to the ?Forensic Accountants: Fraud Busters? example.(see below)


Accounting Professionals
Accounting professionals work in a variety of areas in and for business firms, government agencies, and not?for?profit organizations. They can be classified as public, management, government, and not?for?profit accountants.
Public Accountants
A public accountant provides accounting services to individuals or business firms for a fee. Most public accounting firms provide three basic services to clients: (1) auditing, or examining, financial records; (2) tax preparation, planning, and related services; and (3) management consulting. Because public accountants are not employees of a client firm, they can provide unbiased advice about the firm's financial condition.
While there are hundreds of public accounting firms in the United States, a handful of firms dominate the industry. The four largest public accounting firms?Deloitte & Touche, Ernst & Young, KPMG, and PricewaterhouseCoopers (PwC)?collect almost $32 billion annually from U.S. clients alone. In contrast, the Minneapolis?based RSM McGladrey, the nation's fifth?largest accounting firm, has annual revenues of approximately $1.5 billion.6
Some years ago, public accounting firms came under sharp criticism for providing management consulting services to many of the same firms they audited. Critics argued that when a public accounting firm does both?auditing and management consulting?an inherent conflict of interest is created. In addition, this conflict of interest may undermine confidence in the quality of the financial statements accounting firms audit. The bankruptcies of some high?profile firms increased pressure on public accounting firms to end the practice. Legislation also established strict limits on the types of consulting services auditors can provide. For example, an accounting firm that audits a company's books cannot provide any other services to that company, including tax services. As a result, three of the four largest public accounting firms either sold large portions of their consulting practices or spun them off into separate companies, and they now concentrate on providing auditing and tax services. PwC, for instance, sold much of its consulting business to IBM.
As the ?Hit & Miss? feature outlines, a growing number of public accountants are also certified as forensic accountants, and some smaller public accounting firms actually specialize in forensic accounting. These professionals, and the firms that employ them, focus on uncovering potential fraud in a variety of organizations.
Hit & Miss
Forensic Accountants: Fraud Busters
When most people think of accountants, the image that probably comes to mind is that of someone poring over stacks of ledgers or computer printouts, calculator in hand. Although a good deal of accounting does involve ledgers and printouts, forensic accountants don't simply accept a company's numbers at face value?they are crime fighters. People who work in this growing field investigate such white?collar crimes as business fraud, improper financial reporting, and illegal investment schemes.
Forensic accounting is accounting performed in preparation for legal review. Forensic accountants take the skeptical view, investigating below the surface of an organization's accounting system to find out what actually happened. They may also testify as expert witnesses if a case goes to trial. The job requires a bachelor's degree in accounting and CPA certification, with further training in investigative techniques for certification as a certified fraud examiner (CFE) or a certified forensic accountant (CrFA).
When the energy giant Enron Corporation collapsed, forensic accounting investigations revealed that for several years, company executives had issued false financial statements that exaggerated the company's earnings and thereby increased the firm's stock prices. The statements painted a rosy picture of steady profits that met earnings expectations. In reality, Enron's own investments were doing badly, and its profits were nonexistent. The company was actually losing money. Even after the truth began to leak out and the company's stock prices fell, the executives continued to issue false financial statements in the hope of slowing the fall. In a federal trial, two former executives were convicted of conspiracy, wire fraud, and securities fraud.
Tracy Coenen, a forensic accountant and the head of Milwaukee?based Sequence Inc., says, ?Some people say I have a nose for fraud. ? The more complicated the puzzle, the better I like it.?
Questions for Critical Thinking
1.
Describe how a shift in the economy has created a new career path for accounting students.
2.
How might forensic accounting change the world of business?
Sources: ?Forensic Accounting,? PricewaterhouseCoopers New Zealand, http://www.pwc.com/nz, accessed June 1, 2010; Tracy L. Coenen, ?Enron: The Good, the Bad, and the Ugly,? Sequence Inc., http://www.sequence?inc.com, accessed June 1, 2010; James A. DiGabriele, ?Applying Forensic Skepticism to Lost Profits Valuations,? Journal of Accountancy, April 2010, http://www.journalofaccountancy.com; Bob Trompeter, ?Why Do You Need a Forensic Accountant Hired Gun?? Hutson Resource Group, February 23, 2010, http://hutsonresourcegroup.com; Rick Romell, ?Accountants Who Focus on Fraud,? Milwaukee Journal Sentinel, January 24, 2010, http://www.jsonline.com.
Certified public accountants (CPAs) demonstrate their accounting knowledge by meeting state requirements for education and experience and successfully completing a number of rigorous tests in accounting theory and practice, auditing, law, and taxes. Other accountants who meet specified educational and experience requirements and pass certification exams carry the title certified management accountant, certified fraud examiner, or certified internal auditor.
Management Accountants
An accountant employed by a business other than a public accounting firm is called a management accountant. Such a person collects and records financial transactions and prepares financial statements used by the firm's managers in decision making. Management accountants provide timely, relevant, accurate, and concise information that executives can use to operate their firms more effectively and more profitably than they could without this input. In addition to preparing financial statements, a management accountant plays a major role in interpreting them. A management accountant should provide answers to many important questions:


?
Where is the company going?
?
What opportunities await it?
?
Do certain situations expose the company to excessive risk?
?
Does the firm's information system provide detailed and timely information to all levels of management?

Management accountants frequently specialize in different aspects of accounting. A cost accountant, for example, determines the cost of goods and services and helps set their prices. An internal auditor examines the firm's financial practices to ensure that its records include accurate data and that its operations comply with federal, state, and local laws and regulations. A tax accountant works to minimize a firm's tax bill and assumes responsibility for its federal, state, county, and city tax returns. Some management accountants achieve a certified management accountant (CMA) designation through experience and passing a comprehensive examination.
Management accountants are usually involved in the development and enforcement of organizational policies on such items as employee travel. As part of their job, many employees travel and accumulate airline frequent flyer miles and hotel reward points. While some organizations have strict policies over the personal use of travel perks, many do not.
Changing federal regulations affecting accounting and public reporting have increased the demand for management accountants in recent years. As a result, salaries for these professionals are rising.
Government and Not?for?Profit Accountants
Federal, state, and local governments also require accounting services. Government accountants and those who work for not?for?profit organizations perform professional services similar to those of management accountants. Accountants in these sectors concern themselves primarily with determining how efficiently the organizations accomplish their objectives. Among the many government agencies that employ accountants are the National Aeronautics and Space Administration, the Federal Bureau of Investigation, the Internal Revenue Service, the Commonwealth of Pennsylvania, and the City of Fresno, California. The federal government alone employs thousands of accountants.

You are the manager of an accounting department and would like to hire another managerial
accountant to focus on internal accounting. The CEO is not convinced that a managing accountant
position is needed. Prepare a 2 page memo for the CEO on the following:

1) Explain the objectives and characteristics of an internal ? accounting system.
2) Include an explanation of the importance of this information to the company.
3) Include an explanation of ethics in business and the managerial accountant?s role in upholding the code of ethics.

'To gain a competitive edge, many organisations in the high tech. sector now focus on quality and cycle time by employing JIT (Just in Time). As a result, a traditional accounting system may not be appropriate. They now have to focus on the value of controlling non-financial performance as a key to improving productivity (delivery).'

Discuss, using actual situations in your organization, or others that you are familiar with, to illustrate how quality, cycle time and productivity are related.


Note about Plagiarism

Occasionally, students make the mistake of 'going too far in the other direction' and they include too many direct quotes in a submission. If the proportion of quotations in a submission exceeds 20%, then the grade would probably be Fail even if all the copied materials are properly cited.

Company Background

A company, Outdoor Adventures, manufactures backpacks sold in sporting goods, mountaineering, and outdoor equipment stores. Their entire environment is Linux-based ??" including both workstations and servers. You are a newly hired computer specialist at Outdoor Adventures, and you have been given several tasks to complete as part of your new position. Although most users in the company use the command line interface, you are free to use either the CLI or the GUI to complete your required tasks.

Refer to the Course Schedule within the Syllabus for specific project deliverables and due dates.

Deliverables
Upon completion of this case project, you will submit a *single* Word document that contains written instructions/explanations with accompanying screen shots.

1.Create a directory structure for a new accountant that is organized to house the following items (Note: You only need to create the directory structure for this deliverable. It is not necessary to create programs or any of the items that the new accountant will house in these directories):

?-?The program files for the accounting system
?-?Data files for accounts receivable, accounts payable and general ledger
?-?Business reports
?-?Rich text files

Write a summary that explains the design. Provide screen shots of your completed directory structure.

2.Set up file security so that only the accountant and the company owners can access the file system previously created. Create a written document with step-by-step instructions for the employee that describes how to create additional subdirectories they may need and how to configure the appropriate security. Include in your document the general steps for removing an unused directory. Provide screen shots of the commands used to setup file security.

3.Create a step-by-step set of instructions to explain how to accomplish deleting subdirectories and their contents, and copying files from one area to another. Provide screen shots showing examples of the commands described.

4.Create a customer file (a plain text document) that contains several customers names, addresses, telephone numbers, and type of backpack purchased (use fictional data). Use any Linux editor of your choice to create the file. Include a screen shot showing the contents of the file you created.

Contemporary developments in the organization and technology of manufacturing and in the deregulation of service industries are generating demand for entirely new approaches to cost accounting and managerial control. The traditional direct labor focus of most cost accounting systems has become obsolete in light of the much smaller ratio of labor to total manufacturing costs and the increased importance of capital costs and knowledge workers. Current research is exploring the initiatives of innovative organizations across a wide variety of industries to deal with these changes. The role of management accounting systems, including the use of multiple non-financial measures to supplement traditional profit and loss statements, is studied in relation to the firm's production, marketing and strategic goals.

Explain how management accounting can supply information to assist the management of the organisation.
You are not required to investigate and report on the organisations actual management accounting system (even if you can find out).
You are to write a 1500 word report as though you were a management consultant writing to the board of directors.
WE DO NOT WANT ANY NUMBERS UNLESS YOU CREATE THEM TO DEMONSTRATE AN IDEA

company's name : Thai Airways (http://www.thaiairways.co.th)

It has an introduction
A main body (see the next slides)
A conclusion

Background to the organisation showing good reading of appropriate sources 25%
Review of the nature and role of management accounting 10%
An analysis of the organisation, showing its information needs, the management accounting techniques it might use and decisions it could then make.50%
The strengths and weaknesses of your analysis " for example the additional information you would have liked in order to improve your analysis.15%

The reason for this is to introduce your organisation (briefly) and to show what a manager in this organisation will do. Later you will show how m.a. helps.
A manager will make decisions about the organisations products, processes etc. " therefore your introduction will cover this.
This introduction will reveal the kind of problems that your organisation faces and must overcome.
We do not want the history of the organisation and any information that you will not use later.
Choose your organisation carefully " one that you can understand. You need to be able to imagine the kinds of decisions that a manager might make

An analysis of the organisation, showing its information needs, the management accounting techniques it might use and decisions it could then make.
This is the hard part that attracts the most marks
You are to link part 1 and part 2 " you organisations needs to the techniques and methods of management accounting
What does m.a. Do that will help this organisation?
How can it improve processes?
How can it compete better?
How can it choose between products?
How can it use m.a. for pricing?
Planning, controlling, motivating, organising etc
Difficult " but you are applying what you have learned to the problems of the organisation.

There are faxes for this order.