• Accounting Introduction
    (Securities and Exchange Commission) requires companies to follow GAAP in their financial statements. That doesn't mean companies do what they are supposed to do. Enron executives had millions of reasons ($$) to falsify financial information for their own personal gain. Auditors are independent CPAs...
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  • Accounting Cycle
    and consultancy company focused entirely on the pharma and biotech industries. – You have to be proactive and open-minded as a newcomer and make it clear to your colleagues what you are able to cope. The pharmaceutical field is new to me. But busy as they are, most of my colleagues find the...
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  • Finance Accounting
    states that “the capital structure is seriously out of balance and the company is using far too much debt. I believe we should modify the mix of debt and equity used in the forecasts.” You get a lump in your throat as everyone at the retreat immediately looks to you. “Well, what do you think,” asks...
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  • Negative Messages
    approach. In your business writing, you’ll need to make a similar choice whenever you deliver bad news; however, there are no clear guidelines to help you choose in every case. Some researchers even suggest that the way you organize the message is less important than achieving a personal tone.3 Even so...
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  • Financial Accounting Theory Textbook
    to liquidate its assets, can continuity still be presumed? Explain. If your answer is no, how do you think the lack of continuity should affect the measurement of assets reported in a company’s balance sheet? • Case 2-5 Definition of Assets Your company owns a building that is fully paid for...
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  • Management Theory and Practice
    and wrong cannot be clearly identified. The individual who must make an ethical choice in an organization is the moral agent.12 Consider the dilemmas facing a moral agent in the following situations: • A top employee at your small company tells you he needs some time off because he has AIDS. You know...
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  • oses
    notes you make when talking with them about careers including salary information and courses you need to take. All students need a way to retain what they learn. An effective way to become an expert on almost any business subject is to set up your own information system. You can store data on...
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  • International Accounting
    this chapter, in addition to describing the guidance provided by IFRS, we make comparisons with U.S. GAAP to indicate the differences and similarities between the two sets of standards.3 In this way, we can begin to appreciate the impact a choice between the two sets of standards has on financial...
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  • Aristotle
    make an ethical choice in an organization is the moral agent.12 Consider the dilemmas facing a moral agent in the following situations: • A top employee at your small company tells you he needs some time off because he has AIDS. You know the employee needs the job as well as the health...
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  • Ethical Misconduct
    place, leaders have no more powerful way to reinforce them than to make a visible decision that follows one of the values, despite it costing the company revenue or profits, or hurting one's own pride (such as taking responsibility for a mistake). 3. Say openly that you are acting on what you...
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  • Ethical and Social Issues in Information Systems
    Issues in Information Systems 137 CANDIDATE ETHICAL PRINCIPLES Once your analysis is complete, what ethical principles or rules should you use to make a decision? What higher-order values should inform your judgment? Although you are the only one who can decide which among many ethical...
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  • Managerial Accounting
    ,”? Fortune, December 9, 2002, pp. 197-202, and Don Durfee, “?After the Scandals: It’?s Better (and Worse) Than You Think,”? CFO, May 2004, p. 29. Company Codes of Conduct Many companies have adopted formal ethical codes of conduct. These codes are...
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  • Dbkvbv,
    . Finally, the cost of the cheese in a taco would be considered a differential cost of the taco. GUIDANCE ANSWERS TO YOU DECIDE Your Decision to Attend Class (p. 52) Every alternative involves an opportunity cost. Think about what you could be doing instead of attending class. • • • You could have...
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  • Understanding Financial Scores
    their careers in the company. If you are training to be an accountant, find another book. This book’s objective is to increase your ability to draw useful information from financial statements, and thus to make better decisions—in both your personal life and your professional life. Studying this book...
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  • Audit - Solutions for Chapter 2
    acceptable, and thus, the financial statements are fairly presented in accordance with GAAP. The fact that the auditor believes there is a better treatment should be communicated to important parties as follows: * Management – the communication should be made...
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  • Guidance from Website
    Participating in activities you enjoy – Pursue whatever hobbies or pastimes bring or used to bring you joy. Volunteering your time – Helping others is one of the best ways to feel better about yourself and regain perspective. Taking care of a pet – Get a pet to keep you company. Learning a new skill...
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  • Paper
    financial reports to make them look better than they actually are. When analyzing Dell, we found one particular red flag that we thought needed attention. The way Dell records leases could be more accurately reported. They automatically expense these leases as a rent expense. We feel that these...
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  • Audit Answer
    subject to the auditing and ethical standards as promulgated by the AICPA; and is not subject to the standards set by the PCAOB. An audit firm serving only non-public companies differs in the following ways: • Can perform all types of attestation services, including compilations and reviews...
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  • Chinese Accounting Reform
    technical issues arising in firms and companies was welcomed. One non-Big 4 audit firm interviewee 14 Chinese Acctg Reform (2010).indd 14 used this consultation process to involve junior staff in the debate on accounting issues to encourage them to think and make judgements. “The Ministry...
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  • Financial Reporting
    checking both delivery notes and invoices and following up any discrepancies promptly. You might think that this could never happen to you but if your trusted bookkeeper presents you with an invoice and a cheque to sign, just how hard do you look at the invoice? The amount might be relatively...
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