Category: Accountancy

Table of Contents Introduction Cost Accounting Principles and Techniques Budgetary Control and Functional Budget Budgetary Systems Conclusion Reference List Introduction Accounting standards are basic rules that must be followed while planning budgetary report that will be circulated to individuals, shareholders, and investors. Accounting standards incorporate essential rules and expectations, for example, the cost guideline, coordinating…

Table of Contents Stakeholders position Solution to the case IMA standards and Support References Stakeholders position United Thermostatic Controls is engaged in the manufacturing and marketing of residential and commercial thermostats. Appliance efficiency averages establish lower power levels for appliances and may forbid the sale of less effective models. More severe appliance efficiency standards would…

Table of Contents Introduction Asset Retirement Obligations Objectives of SFAS 143 Modus operendi of SFAS 143 Liability-based recognition and measurement of AROs Fair Values as the basis of measurement Effects on financial statements Conclusion References Introduction Asset retirement obligations imply liabilities to meet out the potential adverse effects on decommissioning and dismantling of long-lived assets…

Table of Contents Abstract Introduction Limitations of accounting processes Income measurement Connect using References Abstract Accounting and Finance is a very important function of any business either for profit-making or for non-profit making institutions. It provides an avenue where a business analyses its operations in terms of what they own, what comes, and what goes…

Table of Contents Introduction The Ponzi Scheme Conclusion References Introduction The Ponzi Scheme is an investment method that pays dividends from newly came investors to those who invested earlier. The Ponzi Scheme appeared in the 1920s and became widespread among mass media channels. It refers to the financial pyramid, which attracts as many people as…

Introduction It is the devising and analysing business processes, making budgets, doing forecasting, introducing internal controls and monitoring the same and evaluating, synthesising and compiling information mainly to derive economic value. It is an accounting technique employed for the development, management and implementation of decision-making process of a business entity. Managerial accounting is to offer…

Impact of Foreign Exchange Rates When a corporation decides to conduct business internationally, it will be exposed to two significant accounting risks associated with export sales and import purchases. These risks are related to fluctuations in foreign currency exchange rates. When speaking about export sales and import purchases that are paid for immediately, there are…

Introduction This paper seeks to define a word or a concept or an object idea in such a way that a reader is able to understand precisely what is meant by the word being defined, analyzed, described, discussed and explained. This paper has chosen to dwell on the word accounting by applying several rhetorical strategies…

Table of Contents Thesis Ambiguity and Vagueness Descriptions Instead of Prescriptions Accounting Standards VS. Conceptual Framework Counterargument: Technical Benefits Conclusion References Thesis In this presentation, I argue that a conceptual framework in accounting is aimed more at protecting the accounting profession than at the improvement of accounting practice. There are three critical arguments to prove…

If I were going to consider a career in accounting, I would choose the nonprofit sector. Nonprofits, especially big ones, need to hire professional accountants to manage their finances. It is a way to avoid fraudulent activities and keep track of cash flows. I am particularly interested in nonprofit accounting because I will have an…