Accounting for Managers TOPIC A: AN INTRODUCTION TO ACCOUNTING Investors – Individual and groups provide initial capital. Creditors – Company which loans money to another company (Suppliers/Bank). Managers – Oversee the day-to-day operations. What is accounting? * Process of Recognising‚ measuring‚ recording (also known as transactions)‚ disclosing and attesting to information. *Information – Decision Making (Value Creation)‚ Control (Monitoring). Process of Accounting: Transactions
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2008 Chinese Milk Scandals 2008 Chinese milk scandal was one of the major events that happened in China. June 28‚ 2008‚ the first case of infant with kidney stone occurred in Lanzhou. In the following two months‚ the number of infants diagnosed with kidney stones had increased to 14 in one of the hospitals in Lanzhou. The only thing in common before those infants got sick was that they had fed on milk powder produced by Sanlu Group for a long time. Gradually‚ the same cases happened in the other
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The Watergate scandal was massive‚ but I don’t feel that it is the worst in history‚ although it would appear that way in the eyes of others. Maybe because this was before my time‚ but I don’t find the Watergate scandal surprising. Since then‚ there have been other scandals involving different presidents‚ including sex scandals and controversy around accurate voting counts. In my honest opinion‚ I feel the counting of votes controversy to be far worse. But to most people‚ during that time‚ I see
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Chapter 2—The External Environment: Opportunities‚ Threats‚ Industry Competition‚ and Competitor Analysis TRUE/FALSE 1. The health-related concerns in the general environment facing Philip Morris International are part of the physical segment. ANS: F PTS: 1 DIF: Medium REF: 36 OBJ: 02-01 TYPE: comprehension NOT: AACSB: Ethical & Legal understanding | Management: Ethical Responsibilities | Dierdorff & Rubin: Managing the task environment 2. The external environment facing business stays relatively
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Comparing Accounting Software Programs to Manual Accounting Manual accounting uses several paper ledgers to record financial transactions. It is very time consuming to record each single transaction onto paper‚ being very cautious not to make an error. There are several ledgers for each part of the accounting system‚ such as accounts payable‚ accounts receivable‚ and revenue accounts. Combining these ledgers into one general ledger‚ provide the balance for each ledger. The general ledger
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Common themes in Corporate Governance Scandals According to ACCA (2014) “Corporate governance is the system by which companies are directed and controlled”‚ also the corporate governance definition in the ACCA (2014) and Financial Times (2015) are quite different but similar at the same time‚ “How a company is managed‚ in terms of the institutional systems and protocols meant to ensure accountability and sound ethics. The concept encompasses a variety of issues‚ including disclosure of information
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BACKGROUND In the mid-1990s‚ scandal rocked Mitsubishi‚ a conglomerate which consists of many autonomous companies‚ who manufacture myriad products. One of the largest of these corporations under the Mitsubishi name is Mitsubishi Motors‚ makers of many well-known automobiles‚ such as the Galant or Eclipse. Its North American branch‚ Mitsubishi Motors North America‚ was involved in one of the most significant sexual harassment cases in history. In 1994‚ 24 women who worked at Mitsubishi’s Normal
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Table of Contents Case 1 Introduction Jill’s business is expanding while the up going GST prevent her from gaining more profits. The idea of replacing the labor with the help of new equipment will bring about an unprofitable break-even point. However Jill still insist on borrowing from bank to invest in the equipment regardless of the CVP analysis result‚ which raised some ethical issues. Analysis Question 1 Defining the stakeholders There are 5 major stakeholders arising
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This proposal discusses the scandal that occurred with Wells Fargo Financial Services Company. Provides banking‚ investments‚ insurance‚ consumer and commercial finance along with mortgages. The scandal started to get investigated in 2011. The Wells Fargo account fraud scandal is a corruption scandal that was very controversial because there were literally millions of fraudulent bank accounts that were created on behalf of Wells Fargo employees. These accounts were created without the consent of
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Effects of the Enron Scandal (Kassie) The Enron scandal had a great effect on the United States‚ with an impact on individuals from the consumer level to those running the company as well as the stock market and investors. Throughout the scandal‚ 4‚500 employees lost their jobs and investors lost approximately $60 billion dollars within a few days. The loss of such a large sum of money meant the loss of old-age and retirement security for many of the investors who put their money and faith in the
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