Recently‚ fair value accounting suffers heated debate because the financial crisis. The purpose of this article is to evaluate and understand fair value both in literature analysis and practice. This paper emphasizes the advantages and disadvantages of the fair value measurement. Proponents believe that fair value can provide timely information that reflects current financial market conditions‚ and information supplied is reliable. On the other hand‚ critics argue that fair value accounting results the
Premium Balance sheet Financial markets Generally Accepted Accounting Principles
hit by unauthorized withdrawals It was found that the anti-skimming device has been breached in two ATMs. Information by Yahoo News Background Digital Age Increase in advance technology What are the threat and benefit of technology Stand Yes‚ technology does equal to loss of personal privacy. Preview of 3 Arguments Internet : Social networks Mobile Phone : Smart Phone ATM card‚ ATM Body Argument 1 Social Networks Reason: More people use social network like facebook
Premium Social network service Mobile phone Internet
Fair value accounting Type of accounting that companies measure & report certain assets and liabilities at prices the company would receive if they sold them and liabilities are reported at the value the company would receive if they were relieved of them. The purpose of this method is for creating realistic financial statements. Advantages of Fair Value Accounting Reduced Net Income when values of assets decrease‚ the company’s calculated net income decreases. lower net income results in
Premium
provide added value to the company through a program that captures employee input for improving processes throughout the company. Incorporating Customer Relationship Management (CRM) software‚ which also doubles‚ as a portal for employee benefits could be a possible solution to empower employees to be more knowledgeable about the benefits they have in addition to submitting ideas for new opportunities‚ process improvement and other ways the company can improve. Riordan Finance & Accounting Site: The
Premium Accounting software Enterprise resource planning Accounts receivable
Fair Value Accounting Select the archived issue you wish to view: Standards Fair Value Accounting Fair value accounting contains a superior basis for financial reporting than the outdated historical cost model. FROM: SEP-OCT 2005 ISSUE | BY HAN DONKER In recent years‚ international standard setters and regulators such as the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have begun
Premium Balance sheet Generally Accepted Accounting Principles Depreciation
Information technology has revolutionized the way accounting is done. Long gone is the time of manually entering numbers into big bulky ledgers and journal books. Technology has also taken away the stigma associated with accountants. They have long been considered “bean counters” and introverts. This is no longer the case since leaning over ledgers and adding numbers on a calculator all day is a thing of the past. People skills have emerged as an important part of the accounting profession because
Premium Computer program Accountant Accounting software
Taking Principle of Account during O-Level and continuing with A-Level Accounting gives me a strong rudimentary knowledge and at the same time boosts my desire to be able to obtain a degree in Accounting and Finance. Moreover‚ A-Level Mathematics has enhanced my problem solving skills‚ logical thinking and also learned data analysis techniques which can be useful when learning the ‘Quantitative Methods’ module that forms part of my course. Also‚ A-Level Business Studies has broadened my knowledge
Premium Problem solving Learning General Certificate of Secondary Education
Effects Of technology On the Accounting Profession The accounting profession has experienced many different changes and as well as a tremendous amount of growth over the past century. (Schaefer‚ 1998) It’s unfortunate that due to unethical accounting practices there has been an increased need for advanced technology of accounting systems in order to better monitor what is going on with organizations. The need for real time reports and financial information at the click of a button seems
Premium Accountant Certified Public Accountant Accountancy
1. Identify an accounting scandal at a corporation that has resulted in a loss of reputation to the accounting profession. Explain the crime(s) committed. In early 2008 Lehman borrowed large amounts to fund its investing in the years leading to its bankruptcy in 2008‚ “a process known as leveraging or gearing”. A large part of their investments were towards housing market‚ making it vulnerable to a downturn in that market. This firm generated large profits during the housing boom‚ this place them
Premium Fraud Lehman Brothers Accounting scandals
Financial information and firm performance Accounting and financial statement analysis Paulo Alves & Joana Fontes (2014/2015) Topics for this session Review of main financial statements Steps in performing accounting analysis Case study: Euro Disney and the first five steps of accounting analysis 2 Joana Cardoso Fontes & Paulo Alves (2014/2015) Review of main financial statements 3 Joana Cardoso Fontes & Paulo Alves (2014/2015) Income statement Provides a summary of
Premium Financial statements Balance sheet Income statement