Ethics‚ Accounting and Business Decisions In the article "Business and Accounting Ethics" written by Dr. K. T. Smith and Dr. L. Murphy Smith‚ the authors affirm the need for ethics and decision-making in accounting due to recent unfavorable business practices. They stress the importance of maintaining and implementing regulations for professional conduct for public and private accountants. In addition‚ they raised question‚ "What is my highest aspiration? The answer might be wealth‚ fame‚ knowledge
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for recommendation on how the business can increase their profits‚ improve their customer service‚ and expand their business. I have never looked at the financial statements that are given to each shareholder. I have to present my proposals to the Vice President in the afternoon business meeting. In order for this company to get what they want‚ they must have a vision of what they are trying to achieve as a whole. In my statement‚ I am going to explain to the VP how the business can improve its customer
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statements Potential accounts at risk: Provision for compensation claims/litigation Inventory Accounts receivable Accounts payable Brand name PRACTICE EXAM 2‚ QUESTION 3‚ PART 1 (PP.240-241) Identify 5 business factors and explain their impact on risk of material misstatement Also identify account balance most affected. Business factor (i) Listed on stock exchange Explanation of impact Risk - increased compliance with regulations - increased reliance on financial information by users
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Complete the following Practical Practice Problems in Chapter 3 of your textbook: * 3-1A‚ 3-8A‚ 3-9A * 3-12A‚ 3-15A‚ 3-16A 3-1A The biweekly taxable wages for the employees of Rite-Shop follow. FICA Taxes Employee No. | Employee Name | Biweekly taxable wages | OASSDI | HI | 711 | Castro‚ Manny | $493.28 | 30.58 | 7.15 | 512 | Corrales‚ Pat | 870.00 | 53.94 | 12.62 | 624 | Guitar‚ Joseph | 419.80 | 26.03 | 6.09 | 325 | Moore‚ Connie | 523.20 | 32.44 | 7
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USPS Business Practices John Tuttle MGT 330 Alfred Wilfong February 5‚ 2012 The United States Postal Service has been in business since 1775. It employs over half a million people‚ and is the second largest civilian employer in the United States. Without the aid of tax payer dollars‚ the USPS has been profitable every year until 2008. With the congressional mandated 5+ billion dollar prefunded health care payment‚ along with the rise of other forms of communication (E-mail‚ Facebook
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responsibility to conduct business in a way that is not harmful and which positively benefits as many people as possible and themselves. Although this sounds simple‚ it is easier said than done! as there will always be a conflict of interest between various groups of people. Any decisions made by businesses need to be made with an informed awareness of the specific situation and then act according to some sort of system of principals which is Business Ethics. Business ethics are the key to profits
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view the knowledge we learnt from accounting theory and practice‚ the main thing I can conclude that is the tendency of accounting will shift away from technical way to people’s behaviour way. By understanding what should do‚ we should ask why and how we could improve and change it into a better way. This essay aims to explain how the theoretical material that we learn in lectures can be developed under a real practical manner. When talking about accounting‚ the first thing we should know is
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Learning Log Week -2 Lecture: In this lecture I had the understanding‚ why accounting bodies are so heavily regulated by the government. After the corporate collapse‚ accounting body lost the trust of public. Our work was not transparent and therefore‚ was no longer reliable. Regulator body such as ASIC‚ AASB‚ FRC and ASX are formed after the corporate collapse. ASIC is the corporate ‘watch dog’ who monitors FRC‚ AASB and office of AASB. Why we need regulation? Because it is human nature to
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office rent of $1‚000 30-May Smith paid dividends to himself of $1‚400 Requirements: 1 Enter the transactions for May into the accounting equation‚ calculating new balances after each entry. Assets = Liabilities + Stockholders’ Equity Cash + Accounts receivable + Supplies + Equipment Accounts payable Common stock + Service revenue - Salaries expense
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great point on demonstrating how a family would act and relate when they realize that the child that they have loved and nurtured all these years is not theirs. The families choose to get to know the children that they don’t know instead of doing the whole legal drama route. They get to know about the child that is biologically theirs and really discover how much love there is from the parent to child. This is so relatable to everyone because it is about family and how important family is. Love does
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