Auditing; Topic: Materiality in Auditing With respect to the field of auditing, materiality is a critically important concept addressing the significance of discrepancies, amounts, and transactions. Specific materiality guidelines are required in a Continue Reading...
IFRS and U.S. GAAP The U.S.' GAAP and the IFRS serve the same functions. IFRS and U.S. GAAP provide a system of principles of accounting, which is used to draft financial statements. IFRS is used among countries in the developed world while GAAP is Continue Reading...
Under GAAP, reversal of an inventory writedown is not permitted. Under IFRS, reversal of an inventory writedown is permitted. If the writedown has been recognized in previous years, the reversal can be conducted through the income statement of the y Continue Reading...
GAAP Newsletter Dear Managers: In the 21st century, particularly after a combination of the Global Recession and issues surrounding companies like Enron and Arthur Anderson, there has been a new paradigm about accounting in the media, for stakehold Continue Reading...
Financial Statements All publicly-traded firms are required to produce financial statements. These statements are produced according to standardized guidelines, and their production is an essential component to the efficient function of modern capit Continue Reading...
Current event presentation: "The imprecise world of accounting" Accounting is often thought of as a profession of precision. However, according to Hans Hoogervorst, chairman of the International Accounting Standards Board, calculating the true value Continue Reading...
Translation, Reporting, And Prices Briefly describe the corporation you researched. The organization researched is a multinational called Walmart. The chain store is a retailer organization whose home office is located in America. The company opera Continue Reading...
Costa Rica When most people think of Costa Rica, they will often associate it with a tropical resort on the beach or in the mountains. This is because the country has been focused on creating a strong image through promoting itself to tourists and l Continue Reading...
Jim & Judy Choi's Bed & Breakfast As Jim & Judy Choi's banker, no, they should not be congratulated on their "profit." Since they have not done anything related to their actual business activities and have not actually made any money fro Continue Reading...
For example, there are many SEC registered companies, and they are not all American companies. Many of them are actually headquartered in foreign countries. In the past they had to change their accounting and financial information over to GAAP requi Continue Reading...
Sarbanes-Oxley. The political pressure of the past several years following the dot.com bubble and the collapse of several major companies created a need for new securities legislation, which culminated last year in the Sarbanes-Oxley Investor Protec Continue Reading...
Because the home country is not required to reimburse foreign depositors for losses, there is no corresponding financial penalty for lax supervision; there is, though, a benefit to the country with lenient regulatory policies because of increased r Continue Reading...
Enron could engage in their derivative trading strategy with no fear of government intervention because derivative trading was specifically exempted from government regulation. Due in part to a ruling by the Commodity Futures Trading Commission' Continue Reading...
Multinational Corporations Around the Globe When considering the ever-changing and highly competitive global landscape of business today, large firms must be able to effectively globalize their operations in order to reach a greater potential clien Continue Reading...
Financial Statements Importance of Financial Statements The Importance of Accurate Financial Statements to Outside Business Interests The four financial statements are the balance sheet, income statement, statement of cash flow, and statement of Continue Reading...
That is the beauty of the successful and rising platform established through successful investments; it all becomes quite circular. Then, by reinvesting and refinancing earnings, everything becomes stronger. Just as easily, however, this corporatio Continue Reading...
Many organizations have sufficient control over their cost drivers, specifically those that work with activity-based costing; these companies can locate a sufficient amount of cost information within the company to accomplish these analyses in a tim Continue Reading...
Chapter 1 Globalization is delineated as the socio-economic transformation and development process of eradicating trade, investment, cultural information technology, and political barriers across nations. The benefits of globalization include increa Continue Reading...
While the U.S. enjoys the largest insurance market, U.S. companies no longer own the majority of the insurance market share in the country. Foreign companies do with 74% (Vaughan & Vaughan, 2013). This goes to show the extent to which foreign compani Continue Reading...
business, it is vital for business owners to measure the value of their assets and to evaluate the performance of their business at any point in time. In fact, majority of strategies for popular multinational corporations, such as Samsung, Apple and Continue Reading...
Globalisation leading cultural damage exploitation uderdeveloped nations peoples." It include (a) Definitions "Globalisation" (b) Logic linking globalisation free market processes liberal creed. Negative effect of globalization to under developed c Continue Reading...
(Koen 2011, pp. 61 -- 62) The piece of literature that was written by Shreman (2006), talks about how employee benefits will vary from one location to the next. Once there is a merger or acquisition, this could be when the employee compensation str Continue Reading...
That was the year that significant changes were made in the Securities Act and the rules for bringing class action lawsuits were adjusted and modified. Because of those changes, it became more important from a litigation standpoint to ensure that co Continue Reading...
Information System holds in Accounting Industry's future? Looking through the glass and estimating what the future holds for any individual or profession is always a difficult exercise as the trends in any business or profession may change and so t Continue Reading...
Sunbeam Corporation's fraudulent accounting for its financial years 1996, 1997 and early 1998. The essay also reviews the historic audit failure that occurred, and discusses factors that contributed to the scandal and ways in which it might have bee Continue Reading...
For its part, ethics is an overarching issue that lies in the background. Understanding different ethical issues can help to resolve dilemmas, for example. Also, ethical conduct is something that must be done at all times, not just some of the time Continue Reading...
Accounting (Auditing) The information that an auditor gathers as he runs analytical procedures in an entity he is auditing and as he gets better acquainted with the organization must be enough in determining materiality and assessing risks. Material Continue Reading...
competing cost accounting approaches and explores best practices implemented in different countries. The essay examines traditional cost accounting (CA), activity-based costing (ABC), Grenzplankostenrechnung (GPK), throughput accounting (TA) and res Continue Reading...
Assurance Program Why/How to create an Information Assurance Just as paramount as the availability and access to information is significant in every company or business outfit, certain concerns always come to the fore: the kind of information is t Continue Reading...
The company's promotional literature emphasizes the synergistic effects of this corporate structure: "IAG combines the two leading airlines in the UK and Spain, enabling them to enhance their presence in the aviation market while retaining their ind Continue Reading...
Ethical ChallengesTable of ContentsIntroduction: Impact of accounting on corporate performance 1Ethical Challenges Faced to Maintain Cost Accounting 1Ethical Issue in Cost Accounting 1What are the Factors that Influence Ethical Behavior in Cost Accou Continue Reading...
Accounting for Intangibles, Payables and Taxation, Employee Benefits and Long-Term Liabilities Accounting has certain terms that are common to most accounting systems. Since the international standards are being accepted by all member countries (inc Continue Reading...
Values and Morals in the Accounting Industry The important questions to be addressed are taken from the "…business ethics/corporate social responsibility literature, oriented towards business enterprises but also of relevance to professional b Continue Reading...
DELL INC. FRAUD Business practices came under fire when America's seventh largest firm Enron collapsed due to unethical accounting strategies. This case triggered a series of unwelcome events where one after the other, large organizations in the U.S Continue Reading...
Louis, MO, and investing heavily in intuitive products (2004, pp. 1-2). It should be easy for one's roommate to see why it is important to take financial accounting if one wants to go into International business. Management accounting will afford o Continue Reading...
AFRICA'S PETROLEUM AND CHINA'S ECONOMIC GROWTH AND DEVELOPMENT How Africa's Petroleum Supply Is Important to China's Economic Growth and Development While China continues to grow, its oil demand is poised to grow rapidly. For China to ensure its oi Continue Reading...
Operations and Supply Chain Management. Upper Saddle River, NJ: McGraw Hill Higher Education. 13th Edition. Wayne Norman, Chris McDonald. (2004). Getting to the Bottom of the "Triple Bottom Line." Business Ethics Quarterly, 14(2), 243-262. L Wang, Continue Reading...
For example, the conflict in former Yugoslavia is often studied as a case of ethnic conflict, and the Serbian atrocities against Bosnians is usually described as "ethnic cleansing." But Serbs, Croatians, and Bosnians "are all South Slavs, sharing a Continue Reading...
political scenario illustrated that governments all over the globe are making their immigration rules more stringent because of the rise in terrorism; the implication of this phenomenon is a decrease in international traveling, which endangers conti Continue Reading...
risk that Apple Inc. faces with respect to its international economic exposure. Apple designs its products in the United States, manufactures them in China and then sells them all over the world. In order to analyze this exposure, a number of steps Continue Reading...
