GREEN ACCOUNTING: ENVIRONMENTAL ACCOUNTING As we all know‚ businesses are formed to deliver services or produce products in order to earn a profit. In the 21st century accounting goes beyond the bottom line of black or red � � it includes �green�‚ too. With the growing green consumer awareness‚ companies are more than ever expected to align its business strategies with environmental initiatives. Environmentally conscious companies have already discovered that they can generate business strategies
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------------------------------------------------------------------------------------ Accounting Concept and Conventions In drawing up accounting statements‚ whether they are external "financial accounts" or internally-focused "management accounts"‚ a clear objective has to be that the accounts fairly reflect the true "substance" of the business and the results of its operation. The theory of accounting has‚ therefore‚ developed the concept of a "true and fair view". The true and fair view
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used creative accounting to portray that the company’s profit were increasing when it fact it was making losses during the period 2000 – 2002 Creative accounting can be refers to accounting practices that seem to follow the applicable accounting standards but differ from the essence of those standards. It use the accounting methods to hide some elements of company’s financial dealings in order to make the company appears more successful that it is in reality. Creative accounting also can be describe
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The introduction of MRRT will potentially have an effect on the accounting policy choices of mining companies affected by the tax. This paper will be split into two sections; a literature review and an analysis. The literature review will look at articles on the Minerals Resource Rent Tax and what it actually entails. Positive Accounting Theory in relation to bonus plans and political costs. It will address articles on accounting methods that were used prior to the introduction of Minerals Resource
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University of Phoenix Material Role of Financial Accounting Versus Managerial Accounting Matrix Compare and contrast financial accounting and managerial accounting by answering the following questions in the matrix provided. Cite any sources you use in accordance with APA guidelines. Term or Concept Financial Accounting Managerial Accounting What is the primary purpose of the accounting system? The primary purpose is to produce forms portraying a company’s performance over a period of time
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government accounting principles and professional standards. An accounting specialist also aids federal authorities in evaluating budget data‚ estimating revenue and expense levels‚ and adjusting social programs. Based on theories: Advantages: * Challenging‚ Rewarding and Fulfilling Work * Excellent Benefits * Job Availability and Demand * Competitive Salaries * Career Progression Disadvantage: * Without solid government accounting experience
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understand. 4. The consistent application of different valuation methods can be fairly complicated. 5. The valuation of inventory is difficult due to such factors as the large number of different items involved‚ the need to allocate the manufacturing costs to inventory‚ and obsolescence. 21-2 The acquisition and payment cycle includes the system for purchasing all goods and services‚ including raw materials and purchased parts for producing finished goods. Purchase requisitions are used to notify
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+0)26-4 Accounting Theory NEED FOR ACCOUNTING Business is one of the sources of earning income. Whenever a business is started‚ it requires investment of certain amount which is called as capital. With this amount of capital the businessman may deal either with trading business or manufacturing business. In a trading business‚ he will buy goods at a lesser price and sells the same to others at a higher price. In case of manufacturing business‚ he has to buy raw materials and incur other
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1.0 Introduction Management accounting is the application of professional knowledge and skill in the preparation of accounting information in such a way as to control the operations of an undertaking. It is the presentation of accounting information in such a way as to assist management in the creation of policy for the day-to-day operation of an undertaking as it provides information needed by managers to determine how resources should be obtained and used. It includes the methods and concepts
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Psychology or Accounting Choosing a career is one of the most important decisions a person has to make in their life. It is so important because that is what people will have to do to support their selves throughout life. For the past ten years psychology and accounting were two of the top ten potential career choices. According to the U.S. Department of Education‚ National Center for Education Statistics up to 70‚000 bachelor’s degrees in psychology were awarded‚ and up to 30‚000 in accounting all around
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