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Key Features of the Current Accounting Standard
Words: 3031 Length: 10 Pages Document Type: Essay Paper #: 36778664
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IAS 17 Leases

Explain the key features of the current accounting standard. You should use at least one illustrative example for lessee accounting from a published set of financial statements to illustrate the effect of the standard

IAS 17 accounting standard establishes and elucidates the pertinent accounting procedures and also disclosures that are supposed to be employed in accounting by lessors and also lessees. The lessor is the owner of the underlying asset while the lessee is the party that opts to make use of the asset at that point in time. One of the key features of the accounting standard is the classification between an operating lease and a finance lease. A financial lease is a contract or agreement whereby all of the risks and the rewards that are characteristic to the ownership of the asset are transferred to the lessee. On the other hand, an operating lease is…


IFRS, May 2013, Exposure Draft Leases, IFRS Foundation.

IFRS, May 2013, Exposure Draft Leases: Illustrative Examples, IFRS Foundation.

International Accounting Standard 17: Leases. IFRS Foundation.

Epstein, B.J., Jermakowicz, E. K, 2008, Wiley IFRS 2008: Interpretation and Application of International Accounting Financial Reporting Standards. Hoboken: John Wiley and Sons, Inc.

Accounting Several Terms and Definitions Are Valuable
Words: 895 Length: 3 Pages Document Type: Essay Paper #: 53038561
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Several terms and definitions are valuable to understand financial statements. In the United States, financial statements of public corporations are produced in accordance with the U.S. Generally Accepted Accounting Principles. These principles govern how the information for financial statements is compiled and presented. The purpose of these principles is so that all stakeholders can easily understand the statements and make comparisons across both time and across different companies, because the statements are produced and presented in a consistent manner. The International Financial eporting Standards (IFS) are the international equivalent of GAAP. While several countries utilize a national version of GAAP (U.S., Canada, UK, etc.), more than 100 countries use IFS, making this set of standards the most widely-adopted in the world. There is a move to converge national GAAP standards with IFS, including a multi-year project to converge U.S. GAAP with IFS. For now, however, IFS represents a different…


No author. (2012). Generally accepted accounting principles (GAAP). Investopedia. Retrieved August 18, 2012 from (2012) PCAOB oversees: The auditors of companies to protect investors. Public Company Accounting Oversight Board. Retrieved August 18, 2012 from (2012). The investor's advocate. Securities Exchange Commission. Retrieved August 18, 2012

Accounting Forms the Overall Backbone of the
Words: 1922 Length: 5 Pages Document Type: Term Paper Paper #: 77472520
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Accounting forms the overall backbone of the financial world. Financial markets are predicated on consumer and user confidence. Without confidence, consumers attempting to make financial decisions will be doing so using inaccurate and incomplete information. The lack of transparency regarding the truthfulness of reported numbers creates uncertainty within the capital markets. This uncertainty regarding the accuracy of information ultimately undermines the overall financial system, causing harm to society in the process. Investors will require higher rates of return, individuals will become unlikely to invest, and innovation could become stifled, harming the quality of life for society overall. Accounting standards, particularly those from the IFRS, are required to help maintain confidence in the reliability of reported financial performance. These standards, such as IFRS , are often amended to reflect the economic realities of business transactions. These changes, although well intended, may often have unintended consequence. This is particularly true for IFRS…

8) Jeffers, Agatha; Mengyu Wei; Sidney Askew (2010). "The Switch from U.S. GAAP to IFRS." Proceedings of the Northeast Business & Economics Association: 48 -- 54

9) Oler, Derek K., Mitchell J. Oler, and Christopher J. Skousen. 2010. "Characterizing Accounting Research." Accounting Horizons 24 (4): 635 -- 670

10) Perks, R.W. (1993). Accounting and Society. London: Chapman & Hall. p. 16. ISBN 0-412-47330-5.

Accounting Convergence the State of
Words: 608 Length: 2 Pages Document Type: Research Proposal Paper #: 52900563
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Purpose/Perceived Value

The findings of this report will be valuable to two different audiences. The first consists of accounting regulatory bodies. These bodies are working towards convergence and are presently struggling with the resistance from the business community. Understanding the nature of that resistance is key to finding ways of overcoming it. For the large publicly traded corporations themselves, this report will help them understand why they and their peers are resistant, and this will shed light on whether or not that resistance is justified. Convergence is coming whether the corporate world is ready for it or not, but the key for corporations is to understand what convergence is, why it is important, and which elements of their resistance are not worth the effort. For both parties, it is important to work together to make the convergence process as smooth as possible, and that is going to take a greater…

Works Cited:

Qu, X. & Zhang, G. (no date). Measuring the convergence of national accounting standards with International Financial Reporting Standards: The application of fuzzy clustering analysis. Xiamen University. In possession of the author.

Larson, R. & Street, D. (2004). Convergence with IFRS in an expanding Europe: Progress and obstacles identified by large accounting firms' survey. Journal of International Accounting, Auditing and Taxation. Vol. 13 (2004) 89-119.

AICPA. (2011). International Financial Reporting Standards (IFRS): An AICPA backgrounder. American Institute of CPAs. In possession of the author

AICPA (2010). Financial system considerations in IFRS conversion projects. American Institute of CPAs. In possession of the author.

Accounting for Partnerships Businesses Can Be Classified
Words: 2169 Length: 7 Pages Document Type: Essay Paper #: 72324982
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Accounting for Partnerships

Businesses can be classified into various forms of ownership. In this text, I concern myself with partnerships. In so doing, I will discuss partnerships and the various advantages as well as disadvantages associated with this form of business ownership. Further, I will also highlight the Financial Accounting Standards (FAS) governing accounting for this form of business ownership from creation and operation to liquidation. Partnerships' tax consequences will also be discussed.

Partnerships: Advantages and Disadvantages

Just like any form of business ownership, partnerships also do have several advantages and disadvantages. A partnership according to Needles, Needles and Powers (2010) is "an association of two or more persons to carry on as co-owners of a business for profit." In that regard, a partnership is formed when two or more people come together with an aim of initiating a business activity. Individuals may be motivated to start a partnership form…


Clifford, D.C., Warner, R.E. & Warner, R. (2008). Form a Partnership: The Complete Legal Guide (8th ed.). Berkeley: Nolo.

Eisen, P. (2000). Accounting (4th ed.). Hauppauge, New York: Barron's Educational Series.

Needles, B.E. & Powers, M. (2010). Financial Accounting (11th ed.). Mason, OH: Cengage Learning.

Pride, W.M., Hughes, R.J. & Kapoor, J.R. (2011). Business (11th ed.). Mason, OH: Cengage Learning.

Accounting Principles to Expressly Explain the Similarities
Words: 597 Length: 2 Pages Document Type: Essay Paper #: 31343635
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Accounting Principles

To expressly explain the similarities and differences that exist between the GASB and FASB accounting standards it is imperative that we first examine the philosophical approaches that the boards have taken (Marsh & Fischer, 2011). These are found in the board's concept statements. The boards use the concept statements to develop accounting standards. The FASB conceptual framework focuses on provision of best information that influences decisions made by creditors, investors, and entities interested in commercial and not-for-profit activities. The GASB's framework, on the contrary, focuses on accountability and opposed to aiding in decision making processes (Marsh & Fischer, 2011).

Areas of potential differences between GASB and FASB lie in recognition, measurement, display, and disclosure. ecognition differences arise on whether an item should or should not appear in a financial statement. In as much as SFAS No. 116(1993a) addressed contributed services, the GASBS No. 33(1998) failed to (Marsh &…

Reference List

Marsh, T. & Fischer, M. (2011). FASB/GASB Recognition and Reporting Differences: A

Nonprofit Sector Perspective. Journal of Accounting and Finance, 11(1).

Accounting Information System for Harmonization
Words: 569 Length: 2 Pages Document Type: Term Paper Paper #: 904747
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This model could then be customized for the needs of the different companies.

Sankaran and AlHashim (2006) make a compelling case regarding the need for harmonized accounting standards and practices. In addition to the globalized economy, they also rightly point to the benefits of such harmonization for corporations - including a greater ability to keep track of expenses and a better way of reconciling different accounting practices in its branches worldwide. Furthermore, Sankaran and AlHashim (2006) also allay fears that harmonization is equivalent to imposing only one accounting system around the world. Instead, they highlight the need for commonality, for a web-based accounting system that lends itself to different accounting practices.

The paper makes a strong argument, and the data regarding the need for a harmonized accounting system is compelling. hile this article may present a challenge for readers unfamiliar with basic programming language, the inclusion of a generic algorithm…

Works Cited

Sankaran, Siva and Dhia D. AlHashim. 2006. "An Accounting Information System for Harmonization."

Journal of American Academy of Business, Cambridge. 9(2): September.

Accounting Is the Basic Function
Words: 1515 Length: 5 Pages Document Type: Essay Paper #: 74934849
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Yet, financial statements and managerial accounting reports can be highly effective nonetheless. Sometimes they will merely confirm what the proprietor already knows, but there are inevitably going to be times when they will reveal that the proprietor's assumptions about the nature of the business are false. Moreover, accounting can act as essentially a second opinion. The proprietor may feel one thing is true, but the numbers can reveal something different.

Overall, accounting is an essential component of any business. Sole proprietorships often make less use of accounting, in part because the law does not obligate them to engage in any more than the most rudimentary accounting. However, proprietors should not overlook the value of accounting. Accounting helps to reveal the business' past performance, but can also be used to enact organizational controls today and to help plant for more effective operations in the future. By understanding the firm's cost structure…

Works Cited

Marshall, David H.; McManus, Wayne W & Viele, Daniel F. (2008). Accounting - What the Numbers Mean. McGraw-Hill/Irwin, New York, 2008.

Accounting Adjusting Entries Are Required
Words: 765 Length: 3 Pages Document Type: Term Paper Paper #: 55930731
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Such adjusting entries will help to improve the accuracy of financial statements. Adjusting entries is necessary because accrual accounting systems demand that the events are recorded accurately. They are not to be recorded strictly on the basis of cash transactions, and all of these adjustments serve to translate the accounting figures that arise from the cash accounting to accrual accounting by incorporating all of the different non-cash transactions and ensuring that every element of the income statement and balance sheet is correct.

On a computerized accounting system, there might be software that can actually make these entries. If not they will need to be entered manually into the system.

As with any accounting, there are certain ethical issues that need to be understood. The accrual statements are where we report our profits and losses. It is important that they are completed accurately. Any fraud is illegal and cannot be tolerated.…

Works Cited:

No author. (2012). Adjusting entries. Accounting Retrieved November 29, 2012 from

Accounting Financial Accounting Is an
Words: 571 Length: 2 Pages Document Type: Research Paper Paper #: 2417987
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The management accounting leads candidates into finance, risk management and even production management. hile CMA certification is not necessary to pursue a career in management accounting, it is recommended. The IMA claims that certified management accountants earn on average $25,000 more per year than non-certified peers (IMA, 2011).

As with the accounting profession in general, there is increased demand for management accountants. CMAs are in demand because of their ability to contribute to the profitability of businesses, and demand for CMAs is expected to grow in coming years. Because CMA job duties are less structured than those of financial accountants or auditors, CMAs enjoy greater career flexibility.

Both types of accounting positions are poised to enjoy significant growth. There is also a trend in business, particularly since Sarbanes-Oxley, of looking to accounting professionals to lead firms. More CEOs are coming from the accounting stream than ever before, which highlights the…

Works Cited:

Bureau of Labor Statistics. (2011). Occupation outlook handbook 2010-2011: Accountants and auditors. BLS. Retrieved March 20, 2011 from, various pages. (2011). Institute of Management Accountants. Retrieved March 20, 2011 from 

Taub, S. (2003) Now playing: CFO as CEO. CFO Magazine. Retrieved March 20, 2011 from

Accounting Finance Repo 105 and Lehman
Words: 1057 Length: 3 Pages Document Type: Essay Paper #: 87109356
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By re-characterizing the epo 105 dealing as a sale, Lehman detached the account from its balance sheet (Durden, 2010).

Lehman frequently augmented its utilization of epo 105 transactions in the time previous to reporting interludes to decrease its openly reported net leverage and balance sheet. Lehman's intermittent reports did not reveal the money borrowing from the epo 105 transaction, even though Lehman had in reality borrowed tens of billions of dollars in these dealings, Lehman did not reveal the acknowledged responsibility to pay back the liabilities. Lehman utilized the money from the epo 105 dealings to pay off other dangers, thus dropping both the entire debts and the entire assets accounted for on its balance sheet and decreasing its power percentages. Therefore, Lehman's epo 105 dealing was made up of a two-fold procedure: performing epo 105 dealings followed by the utilization of epo 105 cash borrowings to pay down debts,…


Durden, Tyler. (2010). The "Repo 105" Scam: How Lehman Fooled Everyone (Including

Allegedly Dick Fuld) and How Other Banks Are Likely Doing This Right Now. Retreived

April 10, 2011, from Web site: 

Goldstein, Jacob. (2011). Repo 105: Lehman's 'Accounting Gimmick' Explained. Retreived April

Accounting Discontinued Operations Depreciation and
Words: 1029 Length: 4 Pages Document Type: Term Paper Paper #: 32138199
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As required under Statement of Financial Accounting Standards No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets, WB must evaluate the carrying value of PC and T. against the fair value, as determined by the market capitalization of the two companies at the official spin-off date. In this case, both PC and T. will qualify as discontinued operations because after the confirmation of the transaction neither will be a part of the business or parent company.

WB maintains a March 31 end of year and the stock sale was dated May of 2000 which may cause a reporting concern. It is crucial that WB reports these events properly for the sake of accuracy. WB will be responsible to verify if any changes occur in their end of year reporting under SFAS No. 131. "The registrant, in consultation with its counsel, is responsible for determining whether a fundamental change…


SEC Regulations Committee. (June 12, 2001). Section C - Changes in Segment Reporting. Joint Meeting with SEC Staff. Retrieved on February 7, 2005, at

Yungmann, George, & Taube, David. (Jul/Aug 2002). GAAP Net Income Measures Up. Retrieved on February 7, 2005, at 


Accounting Function for a Chosen
Words: 6160 Length: 23 Pages Document Type: Thesis Paper #: 22760906
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"Management believes that the accounting estimates employed are appropriate and the resulting balances are reasonable; however, due to the inherent uncertainties in making estimates actual results could differ from the original estimates, requiring adjustments to these balances in future periods."

ased on the data retrieved and the projections made, the accounting division will proceed to the development of the consolidated statements for all of GM subsidies and the overall group. There are 24 consolidated statements, as follows: Discounted Operations; Asset Impairment; Investment in Nonconsolidated Affiliates; Marketable Securities; Variable Interest Entities; Finance Receivables and Securitization; Inventories; Equipment on Operating Leases; Income Taxes; Property - Net; Goodwill and Intangible Assets; Other Assets; Accrued Expenses, Other Liabilities and Deferred Income Taxes; Long-Term Debt and Loans Payable; Pensions and Other Postretirement enefits; Commitments and Contingent Matters, Stockholders' Equity; Earnings per Share Attributable to Common Stocks; Derivative Financial Instruments and Risk Management; Fair Value of…


1. 2007 General Motors Annual Report. Page 9. On the Internet at  retrieved on February 15, 2009

2. General Motors Mission Statement, 2009, on the internet at . Ast retrieved on February 16, 2009

3. Supplier Diversity, Website of General Motors, 2009, on the internet at  retrieved on February 16, 2009

4. Management's Discussion and Analysis, Website of General Motors, 2009, on the internet at  retrieved on February 16, 2009

Accounting There Are Several Principles
Words: 609 Length: 2 Pages Document Type: Essay Paper #: 24491444
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These are considered to be unrealized gains, but for hold-to-maturity securities these gains/losses are not expected to be realized at any point. The company will note the fair value change in a footnote, but will not record such a change on either the income statement of balance sheet (Spiceland, et al.).

If, however, it becomes necessary to sell investments previously classed as hold-to-maturity, then the following adjustments are made. The cash received from the sale is recorded along with any discount on bond investment is sitting as an asset. The investment in the bonds will be recorded at face value. Any profit above face value will be recorded as gain on investments. This essentially ensures that the asset for discount on bond investment is reversed as a result of the sale. FASB No. 115 lists six conditions under which a change of security status from HTM could occur, including deterioration…

Works Cited:

Spiceland, D., Sepe, J., Nelson, M. & Tomassini, L. Intermediate Accounting.

Statement of Financial Accounting Standards No. 115: Accounting for Certain Investments in Debt and Equity Securities. FASB. Retrieved April 23, 2010 from 

Leone, M. (2008). Revised fair-value rule is weaker: Moody's. CFO Magazine. Retrieved April 23, 2010 from

Accounting Profession Towards a More
Words: 3151 Length: 10 Pages Document Type: Essay Paper #: 57289159
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However, when a shock happens that changes that pattern, the information is no longer relevant. In periods of turmoil, only the most up-to-date information is relevant. The usefulness of the information wanes quickly as the behavior of the company becomes more erratic. After a period of erratic behavior and change, the company may be forced to make internal changes that affect the way they do business. They may make changes that affect their inventory management, sales cycle, stock levels, supply chain, distribution network or other fundamental business functions. New patterns may emerge and the old information no longer applies.

The term "relevancy" can have many different meanings depending on what is happening with the company. A new accounting regime may need to be instituted when a change takes place. Looking at the most recent historical information is one way to determine the relevancy of the accounting information. The analyst needs…


Cadwalader, Wickersham, & Tact LLP. 1999. Application of the Safe Harbor for Forward-

Looking Statements. Findlaw. Accessed April 23, 2009


Giroux, G. (n.d.). American Big Business and Cost Accounting. In a Short History of Accounting and Business. Accessed April 23, 2009

Accounting Case Study Legal Plan Services What
Words: 1115 Length: 4 Pages Document Type: Case Study Paper #: 37990038
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Accounting Case Study

Legal Plan Services

What type of product is Legal Plan Services selling? Tangible or intangible? What type of benefits does the client receive for his membership?

The kind of products that Legal Plan Services is selling is legal representation for civil litigation. The way the company's approach works is to provide customers with access to some of the top law firms for purchasing a membership. The services are considered to be intangible because this is not something that can be physically held. The benefits that the client receives are the ability to consult with any one of the attorneys from affiliate firms for free. This involves select cases including: personal injury, tax, criminal and civil related issues. If the client goes beyond a certain amount of hours is when the membership will provide a 25% discount on the firm's hourly rate. ("Intangible")

What accounting concepts, objectives, and…


"Generally Accepted Accounting Principles." CPA Needed, 2011. Web. 3 Feb. 2012.

"Intangible." The Free Dictionary, 2012. Web. 3 Feb. 2012

"Pro Forma." Investopedia, 2012. Web. 3 Feb. 2012

Briner, Russell. "Revenue Recognition." CPA Journal, 2001. Web. 3 Feb. 2012.

Accounting the Most Effective Means
Words: 2730 Length: 9 Pages Document Type: Essay Paper #: 2716657
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ystems of income and financial position would superimpose standards of normalization upon everyone within the firm. Accounting, thereby, had achieved Foucault's definition of knowledge as power over people per excellence. By the 1950s, however, person as decision-maker replaced this vision of person as machine, and accounting still has power in our society, but a different sort of power. Likewise, accounting still possesses its constructivism (i.e. manner of perceiving a certain stranglehold on reality by emphasizing certain construct and demoting others), although its constructivist paradigm may have differed from that of, say, a century ago. Individuals are viewed, measured, and criticized within programmatic frameworks, and Miller and O'Leary (1987) suggest that accounting today can still be viewed as part of the heritage and structure (albeit slightly changed) of the traditional mode of power that it was in the early decades of this century. In other words, the slanted domination of accounting…


Armstrong, P. 2002, "Management, Image and Management Accounting. Critical Perspectives on Accounting, 13, pp. 281-295

Bryer, R. 2006, "Accounting and control of the labour process" Critical Perspectives on Accounting, 17, pp 551-598.

Chwastiak, M. & Young, J.J. 2005, "Silences in Annual Reports, Critical Perspectives on Accounting, 14, 533- 552

Ezzamel, M., Lilley, S. & Willmott, H. 2004, "Accounting representation and the road to commercial salvation." Accounting, Organizations and Society, 29, pp. 783- 813.

Accounting Convergence Among Public Companies
Words: 624 Length: 2 Pages Document Type: Research Proposal Paper #: 72889768
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As, the Delphi methodology will help us to determine the various opinions of the experts. While qualitative research will organize these views and allow us to study different aspects of the problem. This is the point that we will be taking a more balanced approach in dealing with these issues. (What is Qualitative Research 2010)

Purpose/Perceived Value

The purpose of this study will help us to understand specific factors. That are affecting why so many businesses, are opposed to implementation of IFRS standards. Once this takes place, we will then look at possible solutions for addressing these issues and what steps can be taken to increase compliance. These elements are important, because the combination of them will help us to understand all aspects of the problem. This is the point that we will have a full comprehension of the issues and the challenges associated with implementing any kind of changes.…


Delphi Method, 2011, Business Dictionary. Available from: [29 September 2011]

The Path to IFRS Conversion, 2010, Deloitte and Touche.

Summaries of International Reporting Standards, 2011, Deloitte. Available from: [29 September 2011].

What is Qualitative Research, 2011, QSR International. Available from: [29 September 2011]

Accounting Code of Conduct The
Words: 1283 Length: 4 Pages Document Type: Term Paper Paper #: 83471567
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It also publishes interpretations about certain rules.


The AICPA's Code of Professional Conduct is considered to be a binding agreement for every CPA in America.

As with other professions most accountants are ethical and honest in their dealings with their clients, however every so often a problem arises that must be disciplined. This can happen in a purposeful attempt to be deceitful, or it can happen by an error in judgment or an error in practice. egardless of how or why it happened a review is called for and a sanction or discipline course of action is decided upon (Badawi, 2002).

Most of the violations that occur are ethical dilemmas that are relatively easy to solve but some of the problems become quite in depth and resolution is more difficult to reach.

A study of conduct violations in a ten-year period produced the following result.



Badawi, Ibrahim M.(2002) Accounting codes of conduct, violations and disciplinary actions. Review of Business; 1/1/2002;

Carey, J.L. The CPA Plans for the Future. New York, NY: AICPA, 1965.

Demski, J.S. And J. L Zimmerman.(2000) "On Research vs. Teaching: A Long-Term Perspective." Accounting Horizons

Accounting Questions While the Rest Centers on
Words: 1266 Length: 5 Pages Document Type: Essay Paper #: 70636679
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accounting questions while the rest centers on the characteristics of two certain companies, those being Apple and Philips.

Accounting Questions & Answers

The first accounting question is why revenue recognition is a significant issue. ecognizing when revenue comes in, what specific revenue stems from and the exact amount of all of the above is a very vital part of the accounting process because it has a direct correlation and effect on the profit/loss of a company, the income statement, the cash flow statement and, to a lesser extent, the balance sheet. evenues are used to defray the costs of the goods/services that were disseminated and they need to be properly measured and accounted for, and in the time period to which they apply, so as to ensure that all of the affected and relevant financial statements reflect what is truly going on and when precisely it happens (McQuaig & Bille,…


Apple. (2012, December 6). Apple Inc. - Overview. Apple Inc. - Overview. Retrieved December 6, 2012, from 

McQuaig, D.J., & Bille, P.A. (2008). College accounting (9th ed.). Boston: Houghton Mifflin.

Philips. (2012, December 6). Philips Investor Info. Philips Electronics. Retrieved December 6, 2012, from

Yahoo Finance. (2012, December 6). Yahoo! Finance - Business Finance, Stock Market, Quotes, News. Yahoo! Finance - Business Finance, Stock Market, Quotes, News. Retrieved December 6, 2012, from

Accounting CPA Ideas 1- My Story I
Words: 594 Length: 2 Pages Document Type: Essay Paper #: 4523176
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ccounting CP. Ideas 1- My story: I a young, my father gave responsibility manage budget house. School I control budget Volunteer

Personal statement: Why I want to obtain an MSc in ccounting

Ever since I was young, I have had the responsibility of balancing a budget. My father encouraged me to manage some of the household finances, and by the time I was selected in school to oversee the treasury of the volunteer club, I felt very comfortable and confident with bookkeeping. Majoring in accounting when I went to college seemed like a natural extension of my interests and aptitudes. I graduated with a B.. In accounting from King Saud University in 2009. However, even then I knew that obtaining a B.. was only the first step in gaining mastery of the profession. I already knew I wanted to go on to get my MSc in ccounting but decided to…

After graduating, I obtained a job at the Saudi Arabian Monetary Agency, where I am currently employed. I am charged with supervising the Agency's financial statements and the accounting details of insurance companies. My work has enabled me to put my academic knowledge into practice, and has been a constant, daily education in the need for rigor, efficiency, and wide and deep knowledge of international accounting standards and ethics. But like all positive experiences, my work life has also showed me what I do not know about the accounting field. I wish to gain a broader and more flexible skill set to be better able to cope with the demands of the profession. The profession is changing at a rapid rate. I have been amazed how quickly my nation and the world have evolved in terms of accounting standards and ethics since 2009.

My work experience whetted my appetite for more knowledge about the field of accounting. I have come to better understand the different ways in which modern global business demands new forms of accounting and monitoring business processes. Government regulations are constantly changing regarding how financial statements must be prepared, as are the needs of businesses in the new global economy. Accountants must meet these challenges head-on, and obtaining my MSc would better equip me to do so. Becoming a part of a formal MSc program would also connect me with a network of fellow professions, whose diverse work experiences would instruct me.

I have chosen to purse an MSc in Accounting at University which emphasizes team-based learning and will offer a flexible curriculum so I can tailor my education to my needs. I believe that I have enough experience to know how to guide my education, while supported by the outstanding faculty of the school. Because of my experiences I am confident I would be an asset to any classroom. I would be able to offer my knowledge to support what was being taught in class with real-life experiences. After obtaining my MSc, I intend to become a CPA and open my own business. Obtaining an MSc would give me the knowledge and platform to act independently as an accountant and to serve in my profession to the maximum extent of my abilities. Much as I have enjoyed working for a government agency, I believe it is in private practice where my full ambitions can be realized. My MSc would thus also give me a needed grounding in managerial theory that I would require to manage my own office of fellow accounting professionals.

Accounting GAAP and IFRS
Words: 2554 Length: 8 Pages Document Type: Essay Paper #: 72191952
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Accounting includes recording, summarizing, and reporting of the economic activities and events of an organization. It is pertinent in business decision-making and the management and control of operations. The financial statements reported by a company include the income statement, balance sheet, statement of retained earnings and statement of cash flows. Globally, there are two sets of accounting standards, the Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). In particular, the GAAP are more often than not employed in the United States whereas IFRS are more often than not employed in Europe and international expanses. IFRS are regarded as being more principles-based and U.S. GAAP as being more rules-based. The establishments responsible for setting the IFRS and GAAP are the International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) respectively (Gaspar et al., 2016). The purpose of this paper is to discuss the difference between GAAP…

Accounting for a Loss Contingency for a Verdict Overturned on Appeal
Words: 665 Length: 2 Pages Document Type: Case Study Paper #: 69908622
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Loss Contingency

A transaction between Company M. And Company W. has caused some serious accounting problems and a complex legal scheme and law set is necessary to figure out how to resolve this issue. Company M. And Company W. have been tied up in a long and drawn out legal battle over some copyright and patent infringement argument. In May 2007, W filed a claim against M. And a verdict was reached in September of 2009. This jury found that M. must pay W $18.5 for their mistakes. M did not like this and called for an appeal in November of 2009. More than one year later, the appeals court ruled in favor of M. And the jury's verdict was overturned. W was still upset and filed a petition for a rehearing the next month. That request for appeal was denied and the matter was over according to all legal…


Financial Accounting Standards Board. "Accounting Standards Codification." Viewed 17 Sep 2013. Retrieved from  &nav_type=subtopic_page

Nilsen, K. (2011). Renewed Focus on Loss Contingency Disclosures. Journal of Accountancy April 2011. Retrieved from

Accounting Report
Words: 955 Length: 3 Pages Document Type: Essay Paper #: 43996906
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1. How should the $25 Referral Credit be recorded in Runway's income statement?

In accordance to ASC 605-50-45 Revenue Recognition, a cash consideration handed to a consumer by a vendor or retailer is deemed a decrease in the selling prices of the products or services retailed. This would imply that these cash considerations would be deemed as an expense and a decline in the revenue to be generated by the vendor. Nonetheless, the cash consideration can be deemed as an expense if it solely meets two requirements. First, the cash consideration has to give rise to an identifiable benefit that is separable from the purchase of the recipient, in the sense that the vendor could have achieved the benefit through a third party, and not the purchaser. Secondly, the value that is provided has to be reasonably approximated by the vendor (IAS Plus, 2016).

In this case, Runway does meet…

accounting for a lease
Words: 1026 Length: 4 Pages Document Type: Essay Paper #: 94109566
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FASB Accounting Case

New Standards for Capital Leases

Case Overview and Key Issues

Sable., a company located in San Fransico, CA, specializes in the manufacturing of heavy equipment and have different financing options for clients to own or lease the heavy equipment that they produce. The first option is to purchase the machinery in a traditional standard sale for a lump sum price of $135,000 in which the customers purchases the equipment outright. Another option is for a client to lease the equipment for a period of ten years and pay the lease payment on an annual basis. Sable has been charging $16,000 annually each year to lease the equipment during the ten-year period. However, both options are being effected by the economic conditions that loom in the external environment and some of the company's competitors are reducing their fees for similar equipment options and charging an average of $125,000.…

Accounting Ethics Questions
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.....ethical for an employer to use social media information as a factor when considering whether to hire an employee? What about monitoring social networking activities of employees while on the job? Use ethical reasoning in answering these questions.

The wide-ranging use of social media in the workplace gives rise to serious moral and ethical concerns. Kantian ethics lays emphasis on the form of an action in ascertaining its morality. Kant insists on the Categorical Imperative. Kant implies that this ethical principle is the superlative and outright and proper test to morality, whereas imperative implies that from time to time one must command oneself to be moral and undertake the right thing, even and particularly when one's self-centeredness may be infringed by acting ethically (Mintz, 2015). As an overall moral rule, for an employer to impose into an employee's private life on social media devoid of consent or in a clandestine…

Accounting Report for Referral Credit
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How should the $25 Referral Credit be recorded in Runway's income statement?

In accordance to ASC 605-50-45 Revenue Recognition, a cash consideration handed to a consumer by a vendor or retailer is deemed a decrease in the selling prices of the products or services retailed. This would imply that these cash considerations would be deemed as an expense and a decline in the revenue to be generated by the vendor. Nonetheless, the cash consideration can be deemed as an expense if it solely meets two requirements. First, the cash consideration has to give rise to an identifiable benefit that is separable from the purchase of the recipient, in the sense that the vendor could have achieved the benefit through a third party, and not the purchaser. Secondly, the value that is provided has to be reasonably approximated by the vendor (IAS Plus, 2016).

In this case, Runway does meet these…

Accounting for Investments
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validity of establishing Section 115 by the FASB. It has 4 sources.

The FASB (Financial Accounting Standards Board) in the recent years have revised many accounting standards and policies to effectively govern corporations for the benefit of the public. In its attempt to curtail the unaccounted for incomes and earnings, the FASB issued the FASB No.115 section in which it states that companies reporting their financials can determine their investment securities as held-to-maturity, available-for-sale or trading. In differentiating the categorization of the securities, the FASB establishes the securities either as an income statement item or a balance sheet item. The gains or loss derived from either of the categorization is considered to be different in their nature in reportage as well as in their taxation. The need for differentiation stemmed from FASB's justification that investment accounting of debt and equity are often subjected to taxation. Items of financial statements come…


Financial Accounting Standards Board. Edited by Dr. Howard M. Felt. Temple University, 2000.

Campbell, Tim and Kracaw, Will A. Financial Risk Management: Fixed Income and Foreign Exchange. Harper Collins, New York 1993.

Leahigh, David J. A Pocket Guide to Finance. Dryden Press, Harcourt Brace & Company 1996.

Marshall, John F. And Bansal, Vipul K. Financial Engineering, 2nd Edition, Kolb Publishing Co. FL 1993.

Qualitative Characteristics of Accounting Information
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Accounting information can be used by business owners to carry out a financial analysis of the businesses and their operations. The use of this information for such function is attributed to the fact that it usually contains quantitative and qualitative characteristics. While quantitative characteristics are the calculations of financial transactions while qualitative characteristics can be described as the business owner's apparent significance of financial information. In essence, qualitative characteristics of financial information are attributes that contribute to the usefulness of information provided in financial statements. Since these qualities can sometimes be at odds with each other, they need to be balanced against each other. In addition, these qualities are essential in decision making because they provide the basis for assessing businesses and the effectiveness of their operations.

Fundamental Qualitative Characteristics:

As previously mentioned, qualitative characteristics in accounting are attributes that result in the usefulness of provided financial information by users.…


Spiceland, J.D., Sepe, J.F. & Tomassini, L.A. (2007). Intermediate accounting (4th ed.).

Retrieved February 20, 2014, from 

Vitez, O. (n.d.). Qualitative Characteristics of Accounting Information. Retrieved February 20,

2014, from

Set Up Accounting Information System for New Company
Words: 1544 Length: 6 Pages Document Type: Business Plan Paper #: 95114127
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Accounting System

Accounting Information System

The following plan details the business areas and services to be provided for a growing homeowners' association by a certified accounting firm. The large growth in size of the association is cited as a need for this contracting with the accounting firm, and the specific business areas in need of servicing are identified as billing, collections, payments, reporting, taxes, and miscellaneous advisory duties. Input, output, and control requirements are listed in brief for each business area, with reference to current scholarly and regulatory/advisory information to ensure consistency and conformity with accounting standards. Automation of accounting processes is a major focus of the service provision, and levels of automation are fully discussed, with the decision to build an in-house automation system and certain automation challenges discussed.


The homeowner's association is facing a problem of a major increase in the amount of accounting work it will…


AICPA. (20110. AICPA Publishes New Attest Guidance for Reporting on Controls at a Service Organization. Accessed 30 October 2011. 

COSO. (2009). Guidance on Monitoring Internal Control Systems. Durham, NC: COSO.

Kruck, S. (2011). The emergence of accounting information systems programs. Accessed 30 October 2011. 

Romney, M. & Steinbart, P. (2011). Accounting Information Systems. New York: Prentice Hall.

International Accounting and Auditing Standards
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International Accounting and Auditing Standards

International public sector accounting standards (IPSAS) are developed and put forth by the International Public Sector Accounting Standards Board of the International Federation of Accountants (IFAC). International private sector accounting standards are known as International Financial Reporting Standards (IFRS). They are put together and put forth by the International Accounting Standards Board (IASB), a self-governing standard generating body of the International Accounting Standards Committee Foundation. The IFRS for SME's is a self enclosed standard, intended to meet the requirements and abilities of small and medium-sized entities (SME's), which are anticipated to comprise over ninety five per cent of all corporations worldwide. It is constructed on the basis of full IFRSs, yet, a lot of the principles for distinguishing and gauging assets, liabilities, earnings and expenses have been cut down, subjects not relevant to SME's have been left out, and the amount of necessary revelations…

Works Cited

Barth, Mary E. "Global Financial Reporting: Implications for U.S. Academics." Accounting

Review 83.5 (2008): 1159-1179. Business Source Premier. EBSCO. Web. 6 July 2011.

Hail, Luzi, Christian Leuz, and Peter Wysocki. "Global Accounting Convergence and the Potential Adoption of IFRS by the U.S. (Part II): Political Factors and Future Scenarios

for U.S. Accounting Standards." Accounting Horizons 24.4 (2010): 567-588. Business

Importance of Accounting
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One of the most important disciplines in the corporate world is accounting since it is applicable to nearly all job specialties. Accounting is important in the business world because of the significance of effective record keeping in enabling a business organization to survive efficiently and achieve productivity. Therefore, accounting is a discipline or field that needs to be understood by various stakeholders in the business world. The main function of accounting in business is to ensure various transactions are recorded i.e. incoming and outgoing transactions that are related with the company's operations.

Generally, accounting is the most foundational framework of a business organization because of its link to the daily operations of the organization ("The Importance of Accounting in Today's World," n.d.). Accounting is important for three major reasons including the fact that it acts as the language of business since it is related to the interpretation of a…


"Financial Ratio Analysis." (n.d.). Demonstrating Value. Retrieved March 27, 2015, from 

"The Importance of Accounting in Today's World." (n.d.). Fisher College of Business. Retrieved from The Ohio State University website:

Advanced Accounting
Words: 2294 Length: 7 Pages Document Type: Term Paper Paper #: 70876033
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Accounting for Partnerships

Advanced Accounting

Partnership is a legal business relationship between two or more people who agree to do business for the purposes of earning profit. It is considered as the most appealing option in setting up a new small scale business and growing it with the passage of time. In this business relationship, all the partners share profits and losses in an agreed ratio while assign the decision making powers to the partners who are more competent and experienced than the rest (Needles, Powers, & Crosson, 2011).

The creation, operations, and liquidation processes of a partnership firm are quite different than those of a sole proprietorship or a joint stock corporation. Therefore, it has its own advantages and disadvantages that must be kept in mind while partners choose to engage together and share profits and liabilities.

The following sections discuss all the major aspects of a business partnership;…


Clifford, D., & Warner, R.E. (2008). Form a Partnership: The Complete Legal Guide. 8th Edition. Berkeley, CA: Nolo

Emerson, R.W. (2009). Business Law. 5th Edition. Hauppauge, N.Y: Barron's Publishers

Li, J., & Wolfstetter, E. (2010). Partnership dissolution, complementarity, and investment incentives, Oxford Economic Paper, 62 (3): 529-552.

Needles, B.E., Powers, M., & Crosson, S.V. (2011). Principles of Accounting. 11th Edition. Mason: Cengage Learning

ACA Accounting
Words: 1015 Length: 3 Pages Document Type: Research Paper Paper #: 50602798
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The Affordable Care Act (a.ka. Obamacare) has created some interesting implications for financial reporting. The issues revolve around the determination of benefits, particularly when companies opt to put their employees through Obamacare insurance exchanges where they had previously been on a company plan. The Affordable Care Act was signed into law in 2010, and reshaped the health care insurance industry in particular. With the creation of health care insurance exchanges, competition in health insurance was increased and some of the information asymmetry in the health care market decreased -- though not nearly enough for the market to be considered competitive.

One of the implications for accountants of the Affordable Care Act is that many employers have taken the opportunity to move their employees off of employer-sponsored plans and onto the exchanges as a means of reducing the cost of their benefits programs. As the ACA implementation process accelerates, the…


CalCPA. (2014). ACA mythbuster. California CPA Education Foundation. Retrieved May 2, 2014 from 

FASB (2010). Contingencies (Topic 450). Financial Accounting Standards Board. Retrieved May 2, 2014 from 

FASB Summary of Statement No. 158. Financial Accounting Standards Board. Retrieved 

Kastrup, L. (2013). Financial reporting implications under the Affordable Care Act. American Academy of Actuaries. Retrieved May 2, 2014 from

Accounting the Role of Financial Statements in
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The role of financial statements in investing is that they provide a consistent format that can be used by potential investors and other stakeholders to evaluate a company. There are several components that facilitate this happening. For publicly-traded firms, Generally Accepted Accounting Principles (GAAP) play a key role in the creation of financial statements. GAAP is a common set of accounting principles and procedures that companies use to compile their financial statements (Investopedia, 2012). ith companies having to produce their statements according to a common set of criteria, the information is easier to compare not only between different years at the same company, but also against other firms in the industry and all other publicly-traded firms.

The IFRS is essentially the international version of GAAP. Financial statements in many countries, especially those in Europe, are produced according to IFRS. There are a many areas where GAAP and IFRS diverge,…

Works Cited:

AICPA. (2011). International financial reporting standards (IFRS): An AICPA backgrounder. AICPA. Retrieved March 22, 2012 from 

Beiersdorf 2011 Annual Report. Retrieved March 22, 2012 from 

Investopedia (2012). Generally Accepted Accounting Principles (GAAP). Investopedia. Retrieved March 22, 2012 from 

Revlon Fiscal Year 2011 Form 10-K. Retrieved March 22, 2012 from

Accounting by Its Nature Requires a Set
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Accounting, by its nature, requires a set of standards that are exactly the same industry-wide. If there were not established rules for determining revenues, profits, expenses, and other influences on a company's bottom line, there would be no way to evaluate a corporation's effectivity, production, or potential. A lack of established standards would also mean that no two companies could be honestly compared, since their accounting methods could be so significantly different that their financial statements showed vastly different accounting methods.

In light of these potential discrepancies in reporting methods, the bodies that govern accounting have established Generally Accepted Auditing Standards, or GAAS. Generally These principles are required to be applied in all accounting situations, and they are extensive enough so that almost every possible scenario has a standard response. Interest owed in Houston is reflected on a financial statement in the exact same way that interest owed in New…

Accounting This Discussion Contains Research Pertaining to
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This discussion contains research pertaining to the impact of cash-basis accounting on the distortion of the financial position and operating results of a business.

We began our discussion with a definition of cash base analysis. We concluded that this accounting tactic is used to examine cash and cash equivalents. This is done by separating cash flow transaction into one of three activities which include; operating, financing and investing activities.

Our investigation then explored why and how financial statements completed using cash-basis accounting can be distorted to present a misleading picture about the financial position and operating results of a company. Our investigation found that these distortions exist when accountants fail to provide a report of additional information that may not appear on the face of the financial statement. Additionally, we found that inconsistencies in the presentation of a financial statement can greatly influence the distortion of information that is…

Reference List

Financial Reporting under the Cash Basis of Accounting (2000) Standards Report International Federation of Accountants.

Live on the Lakeshore Financial Statements. (2003) Retrieved August 19, 2003 at

Navani, Vinay S. (2002) IRS eases cash-accounting rules for small businesses

Journal of Accountancy, Vol. 193

Accounting Deals With Financial Transactions
Words: 740 Length: 2 Pages Document Type: Research Paper Paper #: 71580661
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The Statement of Owners' Equity

The statement of owner's or shareholders' equity is designed to show the components of the change in equity from the end of one fiscal year to the next. Beginning with the amount of equity shown at the end of the previous fiscal year, net income is added and cash dividends paid to the owners are subtracted. If owners contributed any additional capitol this amount (such as the sale of new shares) it is added to the equity. On the other hand, if the owners withdrew capitol, equity declines. All the additions and subtractions, taken together, equal the changes in owner equity from one fiscal year to the next (Kurtz, 2010).

The Statement of Cash Flows

Public companies are required to prepare and publish a statement of cash flows. This statement provides investors and creditors with relevant information about a firm's cash receipts and cash payments…


Kurtz, D.L. (2010). Contemporary Business, 13th ed. Hoboken, NJ: John Wiley & Sons Inc.

"The Four Financial Statements" (NDI). The four financial statements. QuickMBA. Retrieved July 24, 2011, from

Accounting Fundamentals for Health Care Management
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Accounting Fundamentals for ealthcare Management

This paper examines governmental and nonprofit accounting and discusses how it differs from commercial accounting. In the accounting field, there may not always be a clear distinction between the three types of organizations. The dividing line between business and nonbusiness organizations may depend on the incidence and relative importance of the nonbusiness characteristics found in an entity. The funds of such organizations are usually earmarked for specific purposes and must be used in accordance with laws, regulations, or contractual requirements.

One distinction of nonbusiness organizations is that they generally have no single indicator of performance, such as profit or net income. FASB:CS-4 provides two performance indicators for financial reporting for nonbusiness organizations:

They provide information about the nature and relationship between inflows and outflows of resources.

They provide information about service efforts and accomplishments.

FASB: CS-4 also sets forth the distinctive features of the nonbusiness…

Horowitz, K.J. (2006, February 26). State and Local Government Accounting Principles. Retrieved on Aril 15, 2011 from Mercer County Community College website: 

Ruppel, W. (2010). Governmental Accounting Made Easy. Hoboken, New Jersey: John Wiley & Sons, Inc.

Siegel, J.G., & Shim, J.K. (2006). Barron's Accounting Handbook (4th ed.). Hauppage, New York: Barron's Educational Series.

Accounting and Intrusion Detection in a Report
Words: 6872 Length: 25 Pages Document Type: Term Paper Paper #: 17210308
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Accounting and Intrusion Detection

In a report issued by Paladin Technologies, Inc., entitled: "Security Metrics: Providing Cost Justification for Security Projects," 273 organizations were surveyed on the topic of security. The report illustrates in quantifiable terms the depth and reach of intrusion detection on the financial viability of the organization. The combined reported losses from the firms surveyed totaled $265.6 million in 1999. The highest loss categories were reported as follows:

Type of Loss

Estimated Dollar Value

Number of espondents

Theft of intellectual capital


Financial Fraud




The average annual financial loss of firms surveyed was estimated at $40 million. Forty three percent of respondents were able to quantify financial losses, and seventy four percent were able to acknowledge financial loss. Ninety percent detected cyber attacks within the most recent twelve-month period and seventy percent reported serious breaches other than viruses, laptop theft, and employee abuse of…


Risk Assessment risk assessment involves estimating the likelihood and severity of an occurrence, the relative impact of risk on the facility, information handler, processing, support, and the mission of the organization. Assessing the likelihood means determining the probability that existing controls will be skirted. Pfleeger has identified a series of steps for examining the likelihood of adverse occurrences:

Calculate the probability that the risk may happen, found in the observed data for the specific system.

Estimate the likely number occurrences in a given time period. The analyst gives a rating based on several different risk analysis methodologies, and then creates a table to hold and compare the ratings.

The Delphi approach: several raters individually estimate the probable likelihood of an event, combine their estimates, and choose the best one.

Accounting Method and Coca Cola
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Does Coca-Cola have the ability to influence CCE's debt levels?

The debt to equity ratio of Coca Cola is: .92 for 2009 and 1.33 for 2010. While CCE has a debt to equity ratio of: 1.51 for 2009 and 1.3 for 2010. Coca Cola does have the ability to influence the debt levels of CCE. The way that this can take place is to use Coca Cola's credit line to help the firm raise additional working capital in the public markets. This would cause the debt levels of CCE to increase. Another option is that Coca Cola can purchase CCE and assume a percentage of their debt. A good example of this can be seen with Coca Cola's acquisition of CCE North America. In exchange for increasing their ownership in this segment, there was also an agreement for Coca Cola to take on CCE North America's debt of $7.9 billion.…


2010 Annual Report. (2011). The Coca Cola Company. Retrieved from: 

Kothari, S. (2010). Implications for GAAP. Journal of Accounting and Economics, 2 (3), 246 -- 286.

Accounting Internal Controls That Must
Words: 535 Length: 2 Pages Document Type: Essay Paper #: 18704718
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The proper authorization to complete an inventory also needs to include training on how to manage the exceptions that often occur when physical counting is taking place (Corman, 1988).

The third principle to have adequate documents and records in place that can be quickly be used by the teams completing the audits. This also needs to be preceded with a training session focused on how to also manage exceptions to the paperwork as well, as each company's physical inventory processes are unique to their specific business models (andall, 1984).

The fourth and fifth principles are physical controls and independent checks on performance. These two principles need to anchor all training activity and also be continually audited to ensure performance to standards set over decades are attained. Physical controls and independent checks are also indispensable to the audit and final approval of physical inventory levels, which is the first step in…


Corman, T.R. (1988). Inventory management. Hospital Materiel Management Quarterly, 10(2), 5-5.

Giannoccaro, I., & Pontrandolfo, P. (2002). Inventory management in supply chains: A reinforcement learning approach. International Journal of Production Economics, 78(2), 153-161.

Howard, K. (1984). Inventory management in practice. International Journal of Physical Distribution & Logistics Management, 14(2), 3-3.

Randall, a.M. (1984). Computerized inventory management: A return to basics. Hospital Materiel Management Quarterly, 5(3), 12-12.

Accounting Credibility the Accountability Failures
Words: 1413 Length: 5 Pages Document Type: Term Paper Paper #: 17956493
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(5) Auditors and CPAs should consider several ways that the Sarbanes-Oxley Act and SEC implementation rules as a whole impact accountants and work closely with regulators to address these effects. (6) Public accounting firms need to reconsider external auditors' participation with their client's internal audit function and control structure. This reporting on the internal controls can be very useful and add value to the integrity and quality of the financial reporting process. However, management accepts full responsibility for the design and maintenance of the adequate and effective internal control system. (7) Auditors should advise their clients and make recommendations for the appropriate disclosures of financial information. A more timely, relevant, objective, and transparent financial reporting process should improve the quality, integrity, and reliability. (8) it is necessary to use more effective and objective audit procedures and related standards to improve audit efficiency. The role of independent auditors on financial statements…

Journal of Accountancy. 199(2) p. 74-75.

Rezaee, Z. (2004) Restoring public trust in the accounting profession by developing anti- fraud education, programs, and auditing Managerial Auditing Journal. 19(1): 134-148

Walker, D.M. (2005) Reclaiming public trust in the wake of recent corporate accountability failures International Journal of Disclosure and Governance 2(3):.. 264-271-279

Accounting Resources in Any Industry
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Then again, even the sites that allow for such commentary often don't receive any. PwC IFS hasn't received any comments in the past month on any of its articles, for instance, though it does provide accurate and fairly up-to-date information. Part of the reason for this could be the fact that this blog, like many others in the accounting world, are run by large firms -- Price Waterhouse Coopers, in this case. Though this does not mean there is necessarily a bias at work in the blog, and indeed certain differing opinions are allowed, the fact that the information on such blogs is so directly under the control of a single for-profit entity means it must be regarded as at least slightly suspect. As these resources are also free, however, there is no harm in regularly browsing them.


Accounting and Business esearch. Accessed via EBSCO 8 October 2009.



Accounting and Business Research. Accessed via EBSCO 8 October 2009.

Accounting Historian's Journal. Accessed via EBSCO 8 October 2009.

Accounting and the Public Interest. Accessed via EBSCO 8 October 2009.

Accounting Today. Daily print periodical. 2009 issues reviewed.

Accounting for Pensions
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Accounting for Postretirement Health Care and Life Insurance Benefits necessitates disclosures regarding an employer's accounting. These include a delineation of the provision of benefits and the groups of employees given coverage, a delineation of the employer's prevailing accounting and financing policies for such benefits and lastly the cost of such benefits acknowledged for the period. In particular, this is effective for the financial statements prepared by organizations for the financial period ending subsequent to December 15, 1984 with respect to postretirement health care and life insurance benefits that are provided not only in the United States but also international nations. Nonetheless, for financial periods prior to June 15, 1985 that lack data and information regarding benefits provided in foreign nations, it is not mandatory to include them (FASB, 2017).

Moreover, the net pension liability or net pension assets have to be included in the financial statements as an asset or…

Accounting Two
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Accounting II

ABC Overall risk profile

The ABC Company may face series of risks based on the current industry and economic issues. First, the company is operating in a competitive market environment making the company to face a fierce competition from other companies producing similar products. Thus, the ABC Company may likely to lose some of its customer to competitors if the price per product is too high.

Moreover, the current recession may affect the purchasing power of customer, which may affect the company annual revenue. Moreover, inflation is likely to increase the cost of production. Another risk issue is that the company should satisfy its shareholders by declaring high dividends and failure to satisfy the shareholder may make some shareholders to disinvest their fund from the company, which may make the company to lose the public image. (Daniel, Njikizana, . & Chamboko, 2011).

Current ABC cash flow using Direct…


Bragg, S.M. (2011). The Controller's Function: The Work of the Managerial Accountant, (Fourth Edition) UK. Wiley .

Daniel, B.M. Njikizana, C.T. & Chamboko, R. (2011). Interpretation and Application of International Financial Reporting Standards.UK. Wiley.

Accounting Ratios the Financial Statements
Words: 2089 Length: 5 Pages Document Type: Term Paper Paper #: 78170223
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An unaware analyst may think the second company to be better but in reality its low encouraging level is due to the fact that it is unable to secure additional funding. The companies may possess different capital structures and to attempt comparison of performance when one is all equity financed and another is a geared company may not suffice for a good analysis. The chosen application of government incentives to several companies may also twist the inter-company evaluation. There may be the possibility of providing a company with the tax holiday while the other within the same line of business not, and evaluation of such two enterprises may be misleading. (Session 15: Limitation of atio Analysis)

As a matter of principle, the accounting strategies are required to be applied persistently. Changes are required to be emphasized and the influence of variations from an original policy revealed. This is applicable when…


Accounting and decision making - Ratio analysis. Retrieved from Accessed on 22 April, 2005

Basic Financial Statement Analysis: Objective 3: Explain the limitations of ratio analysis. Retrieved from Accessed on 22 April, 2005

Cars, Andreas. 2002. The Dynamic Current Ratio. 3 September. Retrieved from  Accessed on 22 April, 2005

Covers Information from Accounting 200 and 201. Retrieved from  Accessed on 22 April, 2005

Accounting and Finance Henkel AG Is a
Words: 2826 Length: 10 Pages Document Type: Essay Paper #: 72406272
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Accounting and Finance

Henkel AG is a multinational company focusing its brand and technologies in three business areas that include Beauty Care, Laundry & Home Care and Adhesive Technologies. Established in 1976, the company holds its global market positions in both the consumer and industrial products with well-known brands that include Lactate, Persil, and Schwarzkopf. Henkel's headquarter is in Dusseldorf in German and the company has over 47,000 employees globally. Typically, the company is considered among the most "internationally aligned German-based companies in the global marketplace." (Henkel 2012).

Objective of this paper is to use various financial models to carry out financial analysis and valuation of financial Henkel AG.

Valuation Model

One of the methods to carry out the valuation of a company is to use enterprises discounted cash flow (DCF). The DCF could be carried out using WACC (weighted average cost of capital) that represents the opportunity costs that…

Accounting Information for Decision-Making
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Accounting Information for Decision Making

Corporate Confirming on Water isk (Feb 2010) indicates that the Global Confirming Initiative (GI) G3 Guidelines' five water-related indications (total withdrawal volume by source, ponds considerably impacted by distributions, percentage and total amount of water recycled and used again, total water discharge by quality and destination, and identification water physiques and related habitats impacted by discharges) make the perfect beginning point for assessing and confirming water risks. Within this section, we'll briefly discuss the relevance of all these standards (Power, 2010).

Total water withdrawal by source

Confirming the entire amount of water withdrawn by source adds for knowledge of the general scale of possible influences and threats connected using the company's water use. The entire volume withdrawn offers an indication from the organization's proper size and significance as a user of water and offers to set up a baseline figure for other information relevant to…


Task 1:

GRI, (Global Reporting Initiative). (2006) Sustainability Reporting Guidelines. Version 3.0, Accessed on September 27, 2012 from:

Power, G. Paddling Upstream - Approaches to Corporate Water Reporting. Business and the Environment, 21. 6 (Jun 2010): 1-3.

Task 2: