Latest news

  • in

    Advanced Accounting by Guerrero

    Chapter 1 Multiple choice answers and solutions 1-1: a Jose’s capital should be credited for the market value of the computer contributed by him. 1-2: b(40,000 + 80,000)  2/3 = 180,000 x 1/3 = 60,000. 1-2: c 1-3: a CashP100,000 Land300,000 Mortgage payable( 50,000) Net assets (Julio, capital)P350,000 1-4: b Total Capital (P300,000/60%)P500,000 Perla’s […] More

  • in

    Case Study Importance of Accounting Standards

    The importance of accounting standards A PricewaterhouseCoopers Case Study Introduction PricewaterhouseCoopers was created in July 1998 by the merger of two firms – Price Waterhouse and Coopers & Lybrand – each with historical roots going back some 150 years and originating in London. PricewaterhouseCoopers, the world’s largest professional services organization, helps its clients build value, […] More

  • in

    Managerial Accounting Quiz 1

    Chapters 1 and 2 10 Points 1. Complete the answer sheet below by placing an “X” under each heading that identifies the cost involved. The “Xs” can be placed under more than one heading for a single cost. (5 Points) Variable Cost Fixed Cost Direct Materials Direct Labor Manufactu ring Overhead Period Cost Materials costs […] More

  • in

    Cost Accounting

    1.Flexibility is said to be the hallmark of modern management accounting, whereas standardization and consistency describe financial accounting. Explain why the focus of those two accounting systems differs. Financial accounting is more about the bigger picture—it evaluates the finances of the organization as a whole, using historical, quantitative, monetary, and factual data. It is more […] More

  • in

    NEW AND OLD GOVERNMENT ACCOUNTING SYSTEM

    Animals such as cows, sheep, goats, deer, moose, chickens, ducks, game birds, etc., are also Halal, but they must be Zabihah (slaughtered according to Islamic Rites) in order to be suitable for consumption. The procedure is as follows: the animal must be slaughtered by a Muslim. The animal should be put down on the ground […] More

  • in

    NEW AND OLD GOVERNMENT ACCOUNTING SYSTEM

    HALAL / HARAAM ? What is Halal ? The following products are definitely Halal: 1. Milk (from cows, sheep, camels, and goats) 2. Honey 3. Fish 4. Plants which are not intoxicant 5. Fresh or naturally frozen vegetables 6. Fresh or dried fruits 7. Legumes and nuts like peanuts, cashew nuts, hazel nuts, walnuts, etc. […] More

  • in

    CASE: Accounting for the iPhone at Apple Inc.

    The non-GAAP numbers of Apple Inc. reflect its economics better. Because, in the existing method of accounting, revenue and cost of goods sold are spread over the lifetime of the product (expected 24-months), while the costs incurred for engineering, sales, marketing and warranty are recorded immediately. This accurate recording of expenses while recognizing only a […] More

  • in

    Accounting statements and ratios

    Accounting statements and ratios provide a great deal of information about a company’s financial stability. Some of the concepts to be discussed in further detail include horizontal analysis, current ratio, quick ratio, and cash to current liabilities ratio. A horizontal analysis is used to compare data from two or more periods side by side. The […] More

  • in

    Accounting Theory and Practice

    QUESTION 1 – Question 1.8: What is the difference between developing a theory by induction and developing a theory by deduction? QUESTION 2 – Question 1.9: Is the study of financial accounting theory a waste of time for accounting students? Explain your answer. QUESTION 3 – Question 1.26: Would you reject as ‘insignificant and useless’ […] More

  • in

    Accounting information system

    An entity relationship (ER) diagram is a documentation technique used to represent the relationship between entities. Entities are physical resources (automobiles, cash, or in-ventory), events (ordering inventory, receiving cash, shipping goods), and agents (sales-person, customer, or vendor) about which the organization wishes to capture data. One common use for ER diagrams is to model an […] More

  • in

    Oil and Gas Accounting

    If operation is conducted under Lease or concession agreement, it is unlikely that the contract would contain provisions that would permit cost recovery of these costs If the operation is conducted under a psc or risk service agreement, the contractor may be permitted to recover G&G related expenditures incurred after license acquisition and possibly G&G […] More

  • in

    Ict Impact on Accounting

    Introduction The purpose of this commentary is to explore how information and communication technologies (ICT) have forever changed many aspects of business and accounting practice and, as a result, offer new and exciting research opportunities to accounting professionals and academics. In today’s computerized, interconnected, global business environment, the accounting profession must deal with a host of […] More

  • in

    Financial Accounting Standards Boards’ Codification

    For my role as a staff accountant, I was assigned to research the appropriate accounting for revenue treatment of construction contracts for a client, LabCo. In specific, I was assigned to oversee LabCos’ contract involving a six-axis laser-cutting machine with Halibut Co. After researching and developing a theory based on the Financial Accounting Standards Boards’ […] More

  • in

    Strategic Management Accounting

    This is an individual assignment of 3,000 words (+/-10%), excluding appendices and bibliography. The word count MUST be shown on the front of the assignment. There are TWO questions to be answered in this assignment. Each question carries a maximum mark of 50%. All of the learning outcomes for the module are being assessed in […] More

  • in

    Accounting Information Systems

    1. Aims This assignment aims to provide students with a detailed understanding of business activities performed in the major business cycle and the flow of accounting data and information in those accounting information system. Upon completion of this assignment, students would be able to appreciate and practically apply the different methods in building, using and […] More

  • in

    International Journal of Accounting and Financial

    ABSTRACT The role of Indian mutual fund industry as significant financial service in financial market has really been noteworthy. In fact, the mutual fund industry has emerged as an important segment of financial market of India, especially in channelizing the savings of millions of individuals into the investment in equity and debt instruments. Mutual funds […] More

  • in

    Strategic Management Accounting

    It is difficult to find an example of a more spectacular business failure than the recent collapse of Arthur Andersen. Within a few years, Andersen moved from one of the largest professional service organisations in the world to almost complete collapse. The impact of the firm’s failure on its employees, customers, investors, and the general […] More

  • in

    Accounting Personal Statement

    The way I think of Accounting is that it is a fundamental part of our way of life. This is because I believe that every person in the world uses the principle of Accounting at least once in their lives. It can be things that they do in their daily life, for example, checking how […] More

  • in

    Managerial Accounting

    Due to positive turnout of many businesses, cross-functional integrated systems is not only becoming a trend but will be here to stay. The whole system provides savings from time, cost and quality compared to manually re-entering of data from one business function system into another system especially if it is still on a non-integrated environment. […] More

  • in

    Accounting for Decision Making

    Transfer Pricing 1. Calculate the increase or decrease in profits for the three divisions and the company as a whole (four separate computations) if the agreement is enforced. Explain your thought process, comment on the situation, and make a suggestion based on the computations you have made. Given that we have the operating costs of Division […] More

  • in

    Cost Accounting and Management Decisions

    If you are using the Blackboard Mobile Learn iOS App, please click “View in Browser” Click the link above to submit your assignment. Students, please view the “Submit a Clickable Rubric Assignment” in the Student Center. Instructors, training on how to grade is within the Instructor Center. Assignment 1: Cost Accounting and Management Decisions Due […] More

  • in

    Positive Accounting

    Positive economic theory and accounting practices are objective and based on fact. Positive accounting focuses on analyzing the economic statistics and data at hand, and deriving conclusions based on those figures. For example, if corporate growth allows a company to increase shareholder dividends over previous dividend payments, positive accounting theory would conclude that corporate growth […] More

  • in

    Computerized Accounting System

    Background of the Study Every school is dedicated to the improvement of its quality of education. And one of it is by upgrading their school existing system for the convenience of both teachers and students. Though computers become very easy and convenient to use, there are still existing manual system among schools. Technology was endorse […] More

  • in

    Financial Accounting Theory & the Reporting Environment

    5. Researchers who develop positive theories and researchers who develop normative theories often do not share the same views about the roles of their respective approaches to theory construction. (a) How do positive and normative theories differ? (b) Can positive theories assist normative theories, or vice versa? If yes, give an example. If not, why […] More

  • in

    Business accounting

    M1: Analyse the cash flow problems a business might experience. For this task I will be writing to Alan Hall with an analysis of the problems in his cash flow statement. Dear Mr Hall,  I have made an analysis of your cash flow statement and am writing to you to inform you about all the […] More

  • in

    Accounting Roles in the Company and Importance of Accounting

    Accounting is an information and the measurement that system identifies, records and communicates information about an organization business activities. In business we used accounting in all the aspects. The most common contact through accounting is through credit approvals, checking accounts, and payrolls. In a layman term accounting is a language of business because all the […] More

  • in

    Financial Accounting 504 Final Project

    As noted in Wikipedia Oracle is headquartered in Redwood, California. It was founded in 1977 and is the world’s third largest soft wear developer in sales. According to Yahoo Finance Oracle is a multi-faceted operation. Oracle provides a vast amount of services for the internet and computer. It provides cloud applications, IT consulting services, licenses […] More

  • in

    Accounting Information Systems Research Paper

    Abstract The Sarbanes-Oxley Act of 2002 (SOX) was enacted into law in 2002 in the wake of corporation financial reporting scandals involving large publicly held companies. SOX instituted new strict financial regulations with the intent of improving accounting practices and protecting investors from corporate misconduct. SOX requires corporate executives to vouch for the accuracy of […] More

  • in

    Managerial Accounting Case Analysis

    Compare assigned costs per product under both methods. Why has Activity-based costing changed the total costs assigned to each product? By comparing the two cost assigned methods, there are some differences existed: Unit Product Cost:| Gadgets| Smidgets| Smadgets| Smadgets| Traditional Costing Method| 400| 1,000| 1,350| 850| Activity-Based Costing Method| 590| 1,100| 760| 1,250| Overhead Cost| […] More

  • in

    Managerial Accounting

    01)How does managerial accounting differ from financial accounting? A: Managerial accounting is concerned with providing information to managers for use inside the organization. Financial accounting is con¬cerned with providing information to stockhold¬ers, creditors, and others outside of the organi¬zation. 02)Pick any major television network and describe some planning and control activities that its managers would […] More

Load More
Congratulations. You've reached the end of the internet.