Accounting policies are specific accounting bases selected and consistently followed by a business.Allowing businesses to make choices on the use of accounting policies may lead to withholding information from the accounts to ensure that the figures appeal to stakeholders. This can be perceived as a potential weakness of accounting policy choices as businesses may have to cease all trading activities and employees will lose their jobs so this can affect stakeholders. Accounting policy choices
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prepared financial statements The International Financial Reporting Standards or better known as IFRS‚ are generally principal-based standards‚ interpretations‚ and framework which is taken up by the International Accounting Standard Board (IASB) (Accounting Standards‚ 1997). The IFRS financial statements include the presentation of a set of statement of financial position‚ an income statement‚ a statement of cash flows and a statement of changes in equity. Information that are presented
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Running Head: MANAGEMENT ACCOUNTING The Management Accountant in Business [Name of the Writer] [Name of the Institution] The Management Accountant in Business Introduction Tesco Public Limited Company is a merchandising retailer and a grocery retailer multinational chain which has it’s headquarter in Cheshunt in the United Kingdom. Tesco as compared to its counterparts‚ Walmart and Carrefour‚ is the world’s third largest retail store with regard to the revenues that it generates. Tesco stands
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Contents Introduction …………………………………………………………………………………… Page 1 Roles of accounting ………………………………………………………………………… Page 1 Jobs available in accounting field …………………………………………………… Page 1 Salary …………………………………………………………………………………………….… Page 2 Computerised accounting ………………………………………………………………… Page 2 Source documents …………………………………………………………………………… Page 3 Conclusion ……………………………………………………………………………………… Page 3 Appendix 1 ……………………………………………………………………………………….. Page 4 Appendix 2 ………………………………………………………………………………………
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Accounting Regulation With the recent accounting discrepancies that have taken place in some of America’s largest and well known corporations greater importance is being placed on the creation and monitoring of financial reports. Some of these organizations which regulate how financial reports and compiled are private‚ given a charter by a federal agency‚ others were born from the creation of new laws and regulations‚ some are state agencies‚ and many more are private organizations made up of academics
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for you will depend upon your career goals. Earning one of the accounting-related professional certifications is no easy task; however‚ earning and maintaining your certification can increase your chances for advancement and promotion‚ enhance your reputation among colleagues and within the profession‚ and result in salaries that are higher than your non-certified peers as long as you remain ethical. The Profession of Accounting When most people go to college they think of what major would
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HISTORY OF ACCOUNTING Primitive Accounting Traced as far as 8500 BC in Mesopotamia through the use of clay like: a. Record for paid wages b. Record purposes‚ as general Pyramids in Egypt‚ for the costs of structures Other places like China‚ Babylon‚ and Greece Middle Ages More formal account-keeping methods were developed by the merchants and banks. Double-entry records first appeared in Genoa in 1340 AD. First accounting book was written by Contrugli in Naples Summa de Arithmetica
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Environmental Accounting Where We Are Now‚ Where We Are Heading by Joy E. Hecht Interest is growing in modifying national income accounting systems to promote understanding of the links between economy and environment. T he field of environmental accounting has made great strides in the past two decades‚ moving from a rather arcane endeavor to one tested in dozens of countries and well established in a few. But the idea that nations might integrate the economic role of the environment into
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Creative Accounting Creative accounting is a term that often implies illegal or fraudulent practices in the U.S. (Moneyterms‚ 2006). The objective of the following paragraphs is to explore some definitions of creative accounting from different perspectives‚ discuss some advantages and disadvantages of creative accounting‚ and explain a real life example of creative accounting. Through these paragraphs I hope to also touch upon some of the ethical issues involved in engaging in creative accounting practices
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------------------------------------------------- Topic : Companies across the world have started to adopt environmental accounting. What is environmental accounting? Should it be made mandatory? Does environmental accounting help the environment in any way? Give specific examples of how environmental accounting has benefited the environment. ------------------------------------------------- Introduction : The developing countries like India are facing the twin problem of protecting the
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