SIT364 / 764 : Project Management Assignment 1 Due : See Submission schedule Worth : 30% AllMart Background: AllMart Australia is a mid-market department store renowned for delivering to its customer’s great quality and great value apparel and homewares. As one of Australia’s most successful retailers our aim is to make stylish living affordable and available to all Australians. There are now over 25 AllMart and AllMart Country stores conveniently located across metropolitan
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Part A. What is the history of the TFV? How did it come about‚ where‚ and when? What has been this historical purpose of the TFV? The demand for the phrase” true and fair view” is originated from the fact that people‚ involved in business‚ needs to assure the quality of book of accounts in which they used to communicate the business performance‚ settling the business’s profit and others. The development of the phrases “true and fair view” is closely attached to the development of business relationship
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Facts: Touche(defendant)‚ a public accounting firm was hired by Fred Stern & Co. to audit its record and to prepare and certify a balance sheet exhibiting Fred Stern financial health. Touche was aware that this balance sheet would be shown by Fred Stern to shareholders and banks for financial dealing. Touch certified greater assets than liabilities to be in excess of $1million of which in fact the business was actually insolvent and the statement prepared by Fred Stern was false. Fred Stern said
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In the case “Big GAAP/Little GAAP”‚ we can see that some information is better provided in the notes. For example‚ the bank may not be aware that Forthwright Co. is in a strained financial position now because the financial statements do not show. The accounting profession has adopted a full disclosure principle that calls for financial reporting of any financial facts that are significant enough to influence the judgment of a reader. In this situation‚ several issues are left out of the reports
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According to google.com (web definitions) Accounting Standards can be defined as a set of rules governing how accounts are drawn up. Would there be more positive effects than negative if a country develops its own accounting standards? I totally disagree with this statement‚ instead should be read‚ ‘A country should ‘NOT’ develop its own accounting standards’. To support my statement I will substantiate on five points stating why there is one accounting standards for everyone to follow; these include:
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Finally we finished group report few days ago. I learnt a lot from other group members. Firstly‚ we got email address information about each other. Then we created a group message. The first group meeting was being hold in week 5. We actually did not talk anything about group project‚ instead of introduce ourselves. I think it is a good way to know each other first. Because it would be easier for each to talk about their own thoughts. Firstly‚ we decided that each person developed an own idea about
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The Enron Case Questions: 1. Do you believe that there has been a significant shift or evolution over the past several decades in the concept of “professionalism” as it related to the public accounting profession? If so‚ explain how you believe that the concept has changed or evolved over that time frame and identify the key factors responsible for any apparent changes. a. Do you believe that there has been a significant shift or evaluation over the past several decades in the concept
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1. Research online news services to identify recent developments impacting the accounting and auditing profession in Japan. Briefly summarize these developments in a bullet format. The 5-S auditing. Managerial Auditing Journal It has been recognized that Japanese firms are clean and orderly. The same is true for high quality western firms. Over the last two decades‚ the Japanese have formalized the technique and named it 5-S practice. As the name is new to most western societies‚ the objective
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AICPA Code of Professional Conduct Jonathan Weindel ETH/376 3/2/2015 Shanaika Muldrow AICPA Code of Professional Conduct The AICPA Code of Professional Conduct is a voluntary group of CPA’s that embody the principle of “professional based responsibilities despite personal benefit or gain” (Mintz and Morris‚ 2011‚ page 14). The AICPA Code of Professional Conduct has six responsibilities that help CPA’s meet and exceed obligations to the public. These six responsibilities include responsibilities
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An accountant is expected to be both an accountant and a professional. An accountant should follow general professional obligations. After the incidents involving Arthur Anderson‚ Enron‚ and WorldCom‚ the role of a professional accountant was changed. Brooks (2007) stated‚ “Professional accountants owe their primary loyalty to the public interest‚ not just to their own financial interests‚ company directors or management‚ or current shareholders at the expense of future shareholders.” (Chap. 1‚ p
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