Unit 9 Final Project: Integrity in Accounting “In 2001 and 2002 corporate giants like Enron‚ Global Crossing‚ and WorldCom were forced to declare bankruptcy‚ and massive accounting and other irregularities were revealed… In response to the public outcry that ensued‚ the [Sarbanes-Oxley] Act was enacted” (Lander‚ 2004‚ p. 1). Officials feared that because of these scandals in the financial reporting industry that investor confidence would be lost‚ which would cause the economy to deteriorate.
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The history of accounting is as old as civilization and is among the most important professions in economic and cultural development. Much of what we know about the daily lives of ancient people comes from accounting records‚ such as inventories and sales records‚ found at archeological sites. People in all civilizations have maintained various types of records of business activities and the earliest known records kept are the clay tablet records for the payment of wages in the Mesopotamian Valley
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1 * Germany 2 * Japan 2 Hofstede’s cultural dimensions 2 Accounting Practices predictions 3 Opacity Impacts on Business Investments 4 Limitations in Financial Reports‚ with respect to Ratios and Accounting Practices 4 Conclusion 5 Recommendations 5 Appendix 6 Appendix 1 – Development factors of UK‚ Germany and Japan 7 Appendix 2 – Hofsted’s social dimension model 9 Appendix 3 – Gray’s Accounting Values 9 Appendix 4 – Strength and Weaknesses of Hofstede’s Model 11
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American Intercontinental University Unit 1 Individual Project ACCT 311 – Managerial Accounting March 25‚ 2012 Abstract This paper describes a company who has just started in the month of March called Cats and Dogs Company started by D.C. Dawg. It gives a summary of the cash transactions that took place during the month of March. It also shows how each cast transactions affects the accounting equation and an additional piece of information that is related to the transaction other than the
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QUESTIONS FOR MID-TERM EXAM 1. All the users of interested parties (users of information) have equal possibility/rights/power to get company’s financial information. Do you agree with this statement (give you arguments)? How financial statements are useful to the various interested parties (users of information)? Financial accounting’s aim is to allow all the users of interested parties to understand firm’s situations in global and synthetic way. The financial statement produce information
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General Accounting Department to reduce hundreds of millions of dollars in line cost expenses and increase capital asset accounts by the same amount through fraudulent adjustments and entries in WorldCom’s general ledger to mask WorldCom’s true performance. These entries were made after the close of the quarter and lacked any business justification or supporting documentation. Sullivan explained to Ebbers that to meet Wall Street expectations the Company would have to engage in accounting practices
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Overall requirement * Explain how management accounting can supply information to assist the management of the organisation. * You are not required to investigate and report on the organisation’s actual management accounting system (even if you can find out). * You are to write a 1500 word report as though you were a management consultant writing to the board of directors. * WE DO NOT WANT ANY NUMBERS UNLESS YOU CREATE THEM TO DEMONSTRATE AN IDEA * This is like assessment 1a –
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Chartered Accountancy CPT Course Lecture 12 – Consignment Accounting 1 Points to be kept in mind Consignor remains the owner of goods even after sending to consignee. Consignor does not send any Invoice rather a Performa invoice. The Amount of Sales belongs to Consignor. All the exp. are to be borne by Consignor. If borne by consignee‚ recoverable from consignor. Consignee entitled to Commission. Consignee entitled to de-credere commission if he is responsible for bad debts. Consignee
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(Article of the United Nation Framework Convention on Climate Change‚ Xynas‚ 2011). Nevertheless‚ now the environment and climate change has become a significant issue for business due to the financial impact and unpredictability of increasingly frequent natural disasters. Thus‚ the issue is excessive considered from scientists‚ economists and political leaders. Meanwhile‚ the global response to the issue and need different countries’ public sectors make an effort to the issue’s mitigation‚ while
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Accounting Speech By Jill A. DeBonis American InterContinental University Online Abstract In this essay I hope to explain the more common terms used in accounting. A small biography of why I love accounting. And how technology (computers) has helped create a much easier way of life for accountants. Accounting Speech What is the definition of an accountant? Someone who solves a problem you did not know you had in a way you don’t understand (n.a. 2011). Does that sound about right for
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