QUESTION BTN 1-3 Identify the parties potentially affected by this audit and the fee plan proposed Accounting code of ethics guides those in the profession to behave in a respectful‚ controlled and moral way. Clients need to have confidence in the business practices of professional accounting firms. A clear ethical code ensures that accountants practice a high standard of business that is exceptional in integrity and professionalism (Maughan‚ 2011). According to Schreiber (2003)
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Advancement of Accountancy Profession in Nigeria: A Collaborative Effort of Practicing Accountants and the Academia By Abubakar Salisu B. Sc‚ M.Sc‚ MBA‚ ACA‚ AMNIM Lecturer‚ Department of Accounting‚ Ahmadu Bello University‚ Zaria. ABSTRACT The Nigerian environment of accountancy profession has found it difficult to bring together accountants in the academics and in practice for the advancement of the profession. Whereas the accountants in practice are viewed as the real professional
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BUSN7050 Corporate Accounting Lecturer: Dr Sorin Daniliuc Course details • This course covers: – the characteristics of the Australian accounting environment and its financial reporting requirements for companies – accounting for owners’ equity (share capital and reserves) – accounting for liabilities (debentures) – accounting for income tax – accounting for leases – accounting for non-current assets (revaluation‚ impairment)‚ – accounting for intangible assets – a comprehensive
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INTRODUCTION Cost accounting is an important tool in the management of any business firm or organization‚ which includes those in the small scaled industry. In the cause of our research instrument indicated the maintenance of improper and inadequate records coupled with the fact that cost methods used‚ through sometimes effective‚ were unconventional. For a small scale business to approach profit maximization level‚ it must be effective in cost control procedures and appropriate books
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PRINCIPLES OF ACCOUNTING 1 ACCOUNTING THEORY NOTES (a) International Accounting Standards and International Financial Reporting Standards. The foreword to accounting standards defines Accounting Standards as Authoritative statements of how particular types of transaction and other events should be reflected in financial statements. Accounting Standards are developed to achieve comparability of financial information between and among different organizations. International Accounting Standards (IAS’s)
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E-Accounting. E-accounting is the application of online and Internet technologies to the business accounting function. Similar to e-mail being an electronic version of traditional mail‚ e-accounting is "electronic enablement" of accounting and accounting processes which are more traditionally manual and paper-based. E-accounting involves performing regular accounting functions‚ accounting research and the accounting training and education through various computer based /internet based accounting
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Careers in Accounting One of the major careers being practiced today is accountancy. Thousands of people are completing their degrees in accounting because there seems to be a bright future for accountants with the appropriate qualifications. Accountants‚ in their career‚ help ensure that the organizations are running more efficiently‚ public records are kept more accurately‚ and taxes are paid properly and on time. They perform important functions by offering a wide volume of business and accounting
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The role of accounting The role of accounting in business is to help interested parties (internal and external) to make business decisions. LEARNING OBJECTIVE Explain how the accounting process aids in the making of business decisions KEY POINTS Financial accounting generates some of the key documents‚ including profit and loss account showing the method of business traded for a specific period and the balance sheet which provides a statement showing mode of trade in business for a specific
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Accounting is the collection and aggregation of information for decision makers including managers‚ investors‚ regulators‚ lenders‚ and the public. Accounting systems affect behavior and management and have affects across departments‚ organizations‚ and even countries. This paper will give the reader an understanding about cost accounting. This paper will discuss: Why is cost accounting so important to the success of the firm; what are the various methods of cost accounting and how are they used;
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CHAPTER 1 DECISION MAKING AND THE ROLE OF THE ACCOUNTANT DISCUSSION QUESTIONS SOLUTIONS 1. ‘Accounting is irrelevant in decision making because the information it provides relates only to the past.’ Discuss. Accounting is relevant to the decision-making process as it helps provide financial information as to the most efficient use of available economic resources. Although accounting provides financial information based on past financial transactions‚ it is useful in giving details on how efficiently
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