time of purchase: Service‚ Flight‚ Aircraft sales‚ Parts‚ Avionics‚ and Fuel Line. The organizational structure at this time was extremely centralized‚ and it gave too much authority and responsibilities to Sarah Arthur‚ Airtex’s under qualified accountant. She received all bills‚ checks and cash for all departments and kept them in her records. She also managed the receivables and payables for all six departments‚ none of which she communicated with the departments. So‚ as a result of Sarah’s
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benefit many large global corporations‚ it will in turn actually do more harm than good to the small businesses. For example‚ in developing countries where there is little to no emphasis on the accounting profession‚ harmonization will be costly. Accountants will be obligated to pursue a higher education to fulfill the requirements that will follow the standardization of accounting. This will be costly to the individuals who must pay for the schooling and also to the companies who will be compelled
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Choose one of the 3 main theories that explain the politic process of accounting standard setting and regulatory process in Australia. Explain critically the main elements of this theory and illustrate with examples. How does this theory operates in the real world. Public interest theory holds that regulation is supplied in response to the demand of the public as a result of inefficient or inequitable market practices. Initially it is assumed to benefit society as a whole rather than particular
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Ms.Rine BAF3M1 Option 2 Derek Leung March 20th/13 As the Chief Accountant/Controller for Metalco Mines‚ over the past years Metalco’s net income was continuous start to decrease. With mining being with the most employees in the year of 2010 with 4000 employees.(Greater Sudbury‚ Economy) Mining in Sudbury is where the economy is. Being the chief accountant at Metalco‚ it was at the peak of there business with a strong net income with $120‚000‚000 in 2006. With Metalco’s income decreasing year
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None of the given options is correct 2. Which of the following statements is true about accounting measurements such as profits and assets? A. They are subject to professional judgment B. They would not vary if prepared by different accountants‚ providing they were based on the same set of accounting standards C. They are based on hard‚ objective‚ evidence D. All of the given options are correct 3. Which of the following statements is true about the regulation of accounting
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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 reality in limited and one-sided ways. It shows that the idea of objectivity in accounting is largely a myth‚ and one which stands in the way of interesting
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Subject: Financial Accounting-I Course Code: BBA-104 Lesson: 1 Author: Dr. Chandra Shekhar Vetter: INTRODUCTION TO ACCOUNTING STRUCTURE 1.0 Objectives 1.1 Introduction 1.2 Development of accounting discipline 1.3 An accountant s job profile: functions of accounting 1.4 Utility of accounting 1.5 Types of accounting 1.5.1 Financial accounting 1.5.2 Management accounting 1.5.3 Cost accounting 1.5.4 Distinction between financial and management
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American Journal of Business Education – October 2011 Volume 4‚ Number 10 Factors Affecting Students’ Career Choice In Accounting: The Case Of A Turkish University Ali Uyar‚ Fatih University‚ Turkey Ali Haydar Güngörmüş‚ Fatih University‚ Turkey Cemil Kuzey‚ Fatih University‚ Turkey ABSTRACT This study investigates the reasons that influence students’ career choices in accounting. In order to determine these reasons‚ a questionnaire survey has been employed. The empirical findings can be divided
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2.1 Accounting standard-setters have an expectation that the readers of general purpose financial reports have a ‘reasonable knowledge’ of accounting. Specifically‚ the IASB Framework states that ‘users are expected to have a reasonable knowledge of business and economic activities and accounting and a willingness to study the information with reasonable diligence’. Hence‚ there is an expectation that financial statements are not tailored to meet the needs of people who have not‚ in some way‚ studied
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1. Frame the ethical issue: • Should Jason Tybell be fired for the inappropriate behavior and comments to clients? 2. Gather all the facts: • Jason Tybell is a CPA who graduated from the university with bachelor degree in accounting and has been working for a professional accounting company named Rodger&Philips for two years with high evaluations from his seniors. • Although‚ he has good performance score‚ he isn’t asked to work on the current audits of two clients that he worked on previous
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