A. What is the difference between accrual-basis accounting and cash-basis accounting? The difference between the two types of accounting is when revenues and expenses are recorded. In cash basis accounting revenues are recorded when cash is actually received and expenses are recorded when the expenses are actually paid. B. Why would politicians prefer the cash basis over the accrual basis? The accrual basis system deals with deprecation of the value of equipment‚ land and such. Politicians would
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CASE STUDY (WHO BUILT BUILD-A-BEAR) QUESTION 1 Which one of the Five Generic Porter Competitive Strategies discussed in Chapter 5 most closely approximately the competitive approach that Build Built a Bear employing. One of the Five Generic Porters Competitive Advantage Strategies are most closely approximately to the company is broad differentiation. It is because‚ Build-A-Bear is offering different types of bears of with different of accessories. They provide children different clothing‚ sports
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← Abstract Faced with various issues of international accounting in cultural‚ economic‚ ethical and social level‚ after comparing US with China about the GAAP‚ analyzing the differences and difficulties in global accounting standard‚ it’s necessary to separate different accounting standards because of the diversification in different countries‚ it shows that accountancy professions play an important role in capital market‚ which can provide useful‚ relevant and reliable information to interested
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Accounting Organizations and Socie~y‚ Vol. 13‚ No. 5‚ pp. 477---485‚ 1988. Printed in Great Britain 0361-3682/88 $3.00+.00 Pergamon Press plc TOWARDS A C C O U N T I N G AS R E A L I T Y C O N S T R U C T I O N : A NEW EPISTEMOLOGY FOR ACCOUNTING PRACTICE* GARETH MORGAN York University‚ Toronto Abstract Accountants often see themselves as objective appraisers of reality‚.representing reality "as is". This paper takes a different view‚ arguing that accountants typically construct
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CHAPTER 2 21. Generally accepted accounting principles a. are fundamental truths or axioms that can be derived from laws of nature. b. derive their authority from legal court proceedings. c. derive their credibility and authority from general recognition and acceptance by the accounting profession. d. have been specified in detail in the FASB conceptual framework. 22. A soundly developed conceptual framework of concepts and objectives should a. increase financial statement users’
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Hendriksen and Michael F. van Breda‚ Four Thousand Years of Accounting‚ Chapter 2 of Accounting Theory‚ 5th edition‚ Irwin‚ 1992 Accountancy‚ from Wikipedia‚ http://en.wikipedia.org/wiki/Accounting. Retrieved January 20‚ 2011. Contents of lecture notes: 1. Introduction 2. Why bother with the history of accounting? 3. The beginnings 4. So what is ‘accounting’ (or ‘accountancy’)? 5. Double-entry accounting 6. Why double-entry accounting? 7. The period 1500 to 1800 8. The period 1800 to 1955 9. The
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ETHICS OF CREATIVE ACCOUNTING Introduction: In the accounting world‚ the general rule is that accounts should give a true and fair view. Under local and international law‚ a professionally experienced accountant has a responsibility to meet the terms‚ a corporation has a legal responsibility to meet the terms‚ and auditors have a legal responsibility to give some species of judgment on compliance. Although the function of accounting principles and other rules‚ creative accounting has constantly played
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Environmental management accounting is a new technique to identify environmental cost flows of a company. Environmental Management Accounting (EMA) also can defined as the identification‚ collection‚ estimation‚ analysis‚ internal reporting and use of material and energy flow information‚ environmental cost information and other cost information for both conventional and environmental decision-making within an organization (Tellus Institutes). EMA simply defines as management accounting with a focus on physical
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OF MANAGEMENT ACCOUNTING 2.1 INTRODUCTION The previous chapter defined the research problem and stated the main hypothesis for the study‚ namely that management accountants may not be able to contribute fully to the strategic management process in the future‚ as the skills required and displayed by management accountants do not meet the needs of the changing business environment. This hypothesis also indicates a growing gap between current tertiary management accounting education and
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quality‚ reliability‚ delivery and the choice of new products; and the emergence of e-business and so on. As a result of the defects of traditional accounting have been unable to meet these changes new management themes have evolved which in turn has resulted in the development of strategic management accounting. Strategic management accounting aims to provide relevant information to an organization’s management to enable them to make strategic plans and strategic decisions. The emphasis is on
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