States‚ United Kingdom‚ and Chinese Accounting Systems‚ Accounting Standards‚ Accounting Practices This report discusses the accounting practices of the following countries U.K‚ U.S.A and China. An analysis of these different accounting systems will be conducted on issues such as the growth and background‚ social‚ economic and fiscal pressures that have led to each nations current characteristics. Concluding on the direction each nations accounting systems and practices seem to be heading towards
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Justin Valsecchi 201306421 Accounting Studies Tut Group #3 Tutorial Assignment 2: How people getting richer impacted the accounting proffession and accountants. Over the last few hundred years the world saw the rise and evolution of the accounting profession‚ a profession that was greatly impacted by the increase in personal wealth of people‚ particularly during the industrial revolution. In the begining (i.e. the rennaissance era) merchants and explorers would have made use of
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A deontological ethical system is one that is concerned solely with the inherent nature of the act being judged. If an act is inherently good‚ then even if it results in bad consequences‚ it is still considered a good act. Teleological systems judge the consequences of an act. An act might look bad‚ but if it results in good consequences‚ then it can be defined as good under a teleological system. Ethical formalism is a deontological system because the important determinant for judging whether
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In accounting literature‚ the notion of conservatism is to employ a less optimistic attitude towards handling accounting transactions or events when varied alternatives are present. The basic implication of the convention was traditionally to anticipate not profits but all losses. Therefore‚ a series of accounting procedures based on conservatism have been developed to account for provisional expenses and potential losses in accounting practice‚ such as allowances for doubtful accounts‚ reserves
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computerized system designed to perform one or more dedicated functions is often times with real-time computing constraints. It is also designed to do some specific task‚ rather than be a general-purpose computer for multiple tasks. The traditional view of small business record keeping suggests that it is paper based and filed in a shoe box until such time that it is placed in the hands of the accountant for the preparation of the annual taxation return. Over the years the accounting profession
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Accounting Information Systems Article Critique Introduction In the modern business management‚ information technology has become a very important tool‚ which has been used in different fields. As the branch of information system‚ accounting information system is the most important economic information in the enterprise; it continual‚ systematic and comprehensive reflects and supervises the condition of business. The purpose of this paper is to review one article and to discuss three relevant
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Accounting Information System II Chapter 12 – Electronic Commerce Systems REVIEW QUESTIONS 1. What is a VPN? * A VPN (virtual private network) is a private network that exists within a public network. 2. Name the 3 types of addresses used on the internet. * The Internet uses three types of addresses for communications: * (1) email addresses‚ * (2) Web site (URL) addresses‚ and * (3) the addresses of individual computers attached to network (IP address). 3
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theory of Utilitarianism The theory of Utilitarianism takes its name from the Latin word Utilis‚ meaning ‘useful’. It was first developed by Jeremy Bentham‚ a philosopher and legal theorist of the 18th century. Bentham sought to produce a modern and rational approach to morality which would suit the changing society of the industrial age. This was also the era of the French and American Revolutions‚ and of the Enlightenment‚ so orthodox morality was challenged on many fronts. Utilitarianism may be
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AIS – Final Study Chapter Highlights Chapter 1 – ACCOUNTING SYSTEM INSIGHTS 1. Enterprise system – A system that supports business activities throughout the enterprise‚ including inputs‚ processing‚ and outputs 2. Integrated enterprise system – Shares data across functional areas within the enterprise 3. Business processes – Related activities performed by an enterprise to create value by transforming input into output 4. Value chain – An organizing framework for business processes
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Accounting 202 Homework Chapter 1-Managerial Accounting ‚ the Business Organization‚ and Professional Ethics 1-40 Use of Accounting Information in Hospitals Most U.S. hospitals do not derive their revenue directly from patients. Instead‚ revenues come through third parties‚ such as insurance companies and government agencies. Until the 1980s‚ these payments generally reimbursed the hospital’s costs of serving patients. Such payments ‚ however ‚ are now generally flat fees for specified services
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