CHAPTER 1 Financial Accounting and Accounting Standards ASSIGNMENT CLASSIFICATION TABLE Topics 1. 2. 3. 4. 5. Subject matter of accounting. Environment of accounting. Role of principles‚ objectives‚ standards‚ and accounting theory. Historical development of GAAP. Authoritative pronouncements and rulemaking bodies. Role of pressure groups. Ethical issues. Questions 1 2‚ 3‚ 29 4‚ 5‚ 6‚ 7 8‚ 9‚ 10‚ 11 12‚ 13‚ 14‚ 15‚ 16‚ 17‚ 18‚ 19‚ 20‚ 21‚ 22‚ 23 23‚ 24‚ 25‚ 26‚ 27‚ 28 30 Cases 4 6‚ 7 1‚ 2‚ 3‚ 5 8
Premium Financial Accounting Standards Board
Personal and Professional Ethical Belief System Farah Nail University of Phoenix In the human services field‚ personal ethical belief systems combined with professional ethics work in partnership to guide human service professionals in unraveling ethical dilemmas. An increasing number of professionals and clients seek out to define the fundamental policies of the human services field. Humans develop an integration of values‚ standards‚ and beliefs from birth throughout life. The values‚ standards
Premium Ethics Morality
Multiple Choice: 1. In general terms‚ financial assets appear in the balance sheet at: a. Face value b. Current value c. Cost d. Estimated future sales value 2. Which of the following practices contributes to efficient cash management? a. Never borrow money – maintain a cash balance sufficient to make all necessary payments. b. Record all cash receipts and cash payments at the end of the month when reconciling the bank statements
Premium Generally Accepted Accounting Principles Inventory Balance sheet
Accrual Accounting: Income is recorded as you invoice customers‚ and expenses are recorded when you receive bills from vendors‚ regardless of when cash is actually exchanged. This presents a truer picture of income and expenses. Most companies use this method. Cash-Basis Accounting: Income is recorded when cash (checks‚ money orders‚ or currency) is received‚ and expenses are recorded when paid. However‚ unpaid credit sales and purchases do not show on ledgers‚ which can present a misleading
Premium Generally Accepted Accounting Principles General ledger Cheque
to lie is self-defeating and goes straight away from the categorical imperative. The categorical imperative is a moral law that all should follow without exception. This lead into the key idea of deontology‚ which is that human beings are the control source of moral value. The value theory of deontology is people because
Premium Lie Truth English-language films
Utilitarianism Utilitarianism is a moral theory generally considered to have been founded by Jeremy Bentham‚ a 19th century English philosopher and social reformer. It is centered on the concept of happiness‚ and those who seek it. The idea is that all people seek happiness‚ and that it is the ultimate goal of all human beings to be happy. Therefore‚ according to classical utilitarianism‚ when a person wishes to act in an ethically sound manner he or she should strive to bring about the greatest
Premium Utilitarianism
Utilitarianism and the Ford Pinto Case The goal of utilitarianism is to seek out pleasure and base your decision making on creating the greatest possible happiness for the greatest number of people. Utilitarianism is only concerned with producing a desirable result‚ regardless of whether the action taken to arrive at the desired result was good or bad. In business‚ all sorts of factors are involved in creating products ranging from where to purchase raw materials‚ where to build a factory
Premium Ford Pinto Ethics Utilitarianism
The Effects of Technology on the Accounting Profession ACC/340 Neal Hennessy The Effects of Technology on the Accounting Profession The accounting profession has been around in one way or another for as long as people have traded goods and services. As the transactions between people have become more frequent and complex the accounting profession has become more and more essential and the tools used to perform its functions have become increasingly advanced. For the most part‚ the days of writing
Premium Accountant Finance Business
Topic One: Accounting Information Systems: Theoretical foundation and overview Drivers for business & I.S change Globalisation o Force behind globalisation is technology. o Changed the way we communicate‚ transport goods and services‚ and travel. o Enabled organisations to interact with partners‚ suppliers and customers in virtual environment. Deregulation o Removal of constraints on competitive market forces through free trade agreements. E.g. Australia-China‚ Australia-New Zealand
Premium Accounts receivable Strategic management Customer
Consequentialism 1 I) Utilitarianism…………………………………….P.3 II) Introduction to the main idea of Utilitarianism : The Principle of Utility ………………………….P.6 The Greatest Happiness Principle…………….P.9 III) Two kinds of pleasure………………........…P.11 IV) The Calculation of Utility…………………....P.15 V) The measurement of utility……………..…..P.17 VI) The proof of Principle of Greatest Happiness……………………………….…..P.18 VII) The Harm Principle ………………………..P.19 VIII) Assessing Utilitarianism…………………..P.21 2 I) Utilitarianism: + Whenever
Free Utilitarianism Ethics John Stuart Mill