There are quit a few differences in financial and managerial accounting‚ the first differences has to do with the primary users of the reports; in financial accounting the reports are used by external users such as stockholders‚ creditors and regulators. On the other hand managerial accounting reports are used by internal users and include officers and managers. In addition the type and the frequency of the reports differ; financial accounting have financial statements and quarterly and annually
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world to strongly advocate harmonization of accounting. The important reasons which necessitate harmonization of accounting practices are well contained in the observation made by Saudagaran. “While the initial efforts at harmonization were mainly championed by political bodies and professional accounting organizations‚ current pressures to harmonize are driven by investor groups who use financial statements‚ multinational companies which prepare financial statements‚ regulators who monitor capital
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Introduction to Accounting Accounting is a profession used to make financial and business decisions. Billions of dollars exchange hands every day‚ in millions of separate business transactions. These are recorded and reported on using a comprehensive set of guidelines‚ referred to as Generally Accepted Accounting Principles (GAAP). Brief History of Accounting Accounting was born before writing or numbers existed‚ some 10‚000 years ago‚ in the area known as Mesopotamia‚ later Persia‚ and today the
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as ways for companies to prepare. | IFRS and GAAP and what convergence means. In financial surprise accounting the objective for financial reporting are to provide useful information for potential investors and creditors‚ assessing cash flow‚ and about claims and changes to company resources. The problem with this is that‚ without standards each company would set their rules‚ and readers of financial reports would have to learn every company’s way of reporting information. It would become
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improvement in aspect to business efficiency‚ reputation risk management ‚ stakeholder management other social and economic part of the business by disclosing the status of the business in the eyes of society and its stakeholders. Reporting non financial Corporate activities provide a way to communicate and deal with social issues and help to protect a continuing good relationship with company’s stakeholders. Organisation that are performing properly in the market and society may face less problems
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The financial instrument accounting standards have proved to be highly controversial‚ attracting much unwelcome publicity. Current development of financial regulations and critically analyze them. Financial Regulation: Financial regulation is a form of regulation or supervision‚ which subjects financial institutions to certain requirements‚ restrictions and guidelines‚ aiming to maintain the integrity of the financial system. This may be handled by either a government or non-government organization
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DB # 5 Explain how profits‚ piety‚ and politics affected American foreign policy in the late 19th century. Profits affected American foreign policy because the US was producing more that it could possibly consume at the time‚ they needed a market for their exports. In order to secure their share of the global market and make a good profit along with access to sugar‚ coffee‚ fruits‚ oil‚ rubber and minerals‚ the government built a stronger navy‚ acquired more coaling stations and colonies and invested
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I need to complete this assignment but I am having a hard time understanding it. Can someone give me some pointers on what to write on the DB? I just need a guide to start off with. Some guidelines for DB2: Here’s your chance to demonstrate your ability to think through a philosophical issue to its real-life implications. Start this DB by a brief discussion of the metaethical distinction between consequentialist/teleological views and deontological views in relation to the issues in this
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1. If you were representing the Company in this case‚ what argument (facts and reasons) could you make that the confidentiality agreement had a legitimate business purpose and was applied appropriately to Martinez? If I personally had to represent this company (ReadyPro) in this case against Martinez by making a confidentiality agreement between two parties would be defined by agreement between the written contracts made before Martinez employment had transpired. Anytime there is a breach of contract
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procedure for a bad debt is often handled competently by students in an examination environment but raising an initial provision for bad debts and its subsequent revision in the form of an increase or decrease can be difficult to deal with. This paper therefore should be of particular interest to our registered students preparing for both the manual and computerised tests of competence together with serving as a refresher for those of you as members in practice that need to deal with the practical
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