Tag: Accounting

Choosing Cost or Fair Value on Adoption of IFRS
24th Sep 2020
Introduction: This case discusses an investment property company based in France, Silic, faced with the option of preparing its investment properties either using the fair value model or historical cost model, upon adopting the International financial...

Coca-Cola Company, Dr. Pepper and PepsiCo Financial Analysis
24th Sep 2020
Introduction: The National Beverage Corp. is an American beverage company located in Fort Lauderdale, Florida.  This corporation is ranked by Beverage Digest (Beverage-Digest Fact book 23rd Edition, 2018) as the fifth-largest soft drink company...

Association between Earning Management and Audit Quality: Evidence from Chinese Manufacturing Companies
24th Sep 2020
Introduction: In recent years, it is common that many listed companies utilize earnings management to manipulate the financial statement for the purpose of maximizing private gain. However, excessive earnings management can mislead the public due to materially...

Comparison of GAAP and IFRS Standards
23rd Sep 2020
Introduction: The creation of the Financial Accounting Standards Board (FASB) in 1973 has laid an internationally recognized foundation upon which the conceptual framework of the United States Generally Accepted Accounting Principles (U.S. GAAP) guides organizations on...

Similarities and Differences of Financial and Managerial Accounting
23rd Sep 2020
Introduction: Financial and Managerial accounting are “two out of the four largest accounting areas” (Ross,2017).  Financial accounting is the process a company goes through in order to prepare their financial statements to report their financial position to the people with...

Artificial Intelligence and its Role in Accounting
16th Sep 2020
Introduction: Recent technological leaps in the world of artificial intelligence (AI) have led to considerable unease in the accounting discipline. Many believe that AI could one day replace the duties and expertis...

Future Developments in Management Accounting
16th Sep 2020
Introduction: Executive Summary Drivers of change have been taking place over the last 20 years, therefore management accountancy profession have pressure to continue to add value in the organisation. The drivers o...

Advantanges of using social and environmental accounting.
22nd Jun 2020
Introduction: Question Advantages for an organization which undertakes social and environmental accounting. Answer Social and Environmental accounting are ways of measuring a firm’s performance which extend the t...

Explain the ways and causes for how accounting has evolved.
17th Jun 2020
Introduction: Question Accounting has been evolving and is still evolving. Explain factors that explain the changes and differences in the way accounting is done. Answer Accounting is an old practice that has devel...

What is Budgeting?
17th Jun 2020
Introduction: Question What is budgeting? Answer Budgeting is the process of planning and allocating resources within an organisational or personal setting. Budgeting is commonly associated with financial planning...

Accounting Standards at JB Hi-Fi
16th Jun 2020
Introduction: Executive summary In the increasingly complicated world of accounting, the need for a reliable set of accounting policies and professional judgement becomes ever more prevalent. The AASB 108 and AASB ...

International versus U.S. Standards
16th Jun 2020
Introduction: Abstract This paper will describe the differences in the way property, plant, and equipment are reported under U.S GAAP and IFRS. U.S. GAAP requires property, plant, and equipment to be reported at hi...

What is the impact of choosing different measurement approaches on the quality of accounting information produced?
12th Jun 2020
Introduction: Question What is the impact of choosing different measurement approaches on the quality of accounting information produced? Answer The way items are measured in accounting affects the quality of accou...

What are the implications of governance for collective investment schemes?
12th Jun 2020
Introduction: Question What are the implications of governance for collective investment schemes? Answer The core principles identified in the governance for collective investment schemes (CIS) aim at providing eff...

Purposes and Processes of Managerial Accounting
12th Jun 2020
Introduction: Business owners and management are faced with making decisions every day regarding operations performance, profit, and labor force amongst many others. Managerial accounting helps with making those de...

What are the Origins of Accounting
12th Jun 2020
Introduction: Accounting is the basic process of record keeping, analysis, and reporting of business information. It is a practice that appeared in early civilizations and its developments have been tied to evoluti...

Factors Affecting Transfer Pricing
11th Jun 2020
Introduction: Introduction: Tax is revenue for the government to meet the social costs like funding public infrastructure, alleviating poverty, providing healthcare etc whereas on the other side Tax is a cost for f...

Waste Management, Inc's Accounting Scandal
11th Jun 2020
Introduction: Waste Management, Inc. is a North American corporation providing waste management, integrated waste management, and environmental services. The company was founded in 1968 by Larry Beck and is headqua...

Myer Holdings Financial Reporting Analysis
10th Jun 2020
Introduction: Executive Summary Regrading to the concern of board members to the company’s reputation in terms of disclosure satisfying the requirement of Conceptual Framework for Financial Reporting (CF), this r...

Vocation Ltd's Breach in Statutory Duties
10th Jun 2020
Introduction: The article from Weekend Australian (1/06/2019) by Ben Butler “Dawkins faces $1m fine and ban” reveals how directors of Vocation Ltd (In Liquidation) have been found to breach their statutory duti...

Accounting Mirrors and Representation of Economic Reality
9th Jun 2020
Introduction: A representation is a thing which is recognized as standing for another job. Representation resembles "reality." It takes excellent features of the world and presents them as a constructed "version of...

Structures of Accounting Fraud
9th Jun 2020
Introduction: This article describes central structures of accounting fraud from corner to corner investigation of the existing literature by positioning the surroundings, and change in behaviors to avoid fraudulen...

Effect of International Financial Reporting Standards on Coffee Company
9th Jun 2020
Introduction: The information that was in the additional information section directly impacted the balance sheet for Jaunty Coffee Company. Below is a comprehensive analysis of how converting the financial statemen...

Is There Anything "New" In the Field of Strategic Management Accounting?
2nd Jun 2020
Introduction: With reference to academic literature, critically discuss the proposition that there is nothing ‘new’ within the area of strategic management accounting Traditional management accounting is well k...

Importance of Auditor Independence in the Auditor-Client Relationship
2nd Jun 2020
Introduction: Introduction Financial information must be appropriate, timely and reliable in order to meet the needs of users. For the information to be reliable it must be of high quality, thus, quality is a cruc...