Environmental Accounting The business activities of companies and other organizations in the modern socio-economic system have expanded in scale‚ diversified‚ and become globalized to a degree not experienced previously. A great number of companies have been established corresponding to each purpose‚ and group management is practiced. In a group management system‚ the independent decision-making ability of group companies is limited. At the same time‚ the primary objective becomes management of the
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Chapter 1 CA 1-1 · GAAP is the term used to indicate the whole body of FASB authoritative literature. True · Any company claiming compliance with GAAP must comply with most standards and interpretations but does have to follow the disclosure requirements. False This statement is false because the companies they not only have to comply with most GAAP standards and interpretations but also have to follow the disclosure requirements. · The primary governmental body that has influence over
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Fellow of the Institute of Certified Public Accountants of Kenya FASB (the Financial Accounting Standards Board‚ a US body) was the first organization to develop “Concepts Statements”. All the other “Concepts Statements” have been based on those developed by FASB. A new “Conceptual Framework for Financial Reporting” was worked on jointly by FASB and IASB (the International Accounting Standards Board) and was published simultaneously by FASB and IASB in September 2010. It deals with “The Objective of
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Chapter 3 – Ethics‚ Fraud‚ and Internal Control Fraud 1. Compare and contrast employee fraud vs. management fraud. a. Employee Fraud a. Nonmanagement employees convert cash or assets to direct employee benefit b. Management Fraud – Performance Fraud a. Does not involve direct theft of assets b. Fraud is perpetrated above which the internal control structure generally relate c. Use financial statements to create an illusion that an entity is healthier than it is d. Misappropriation of
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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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CHAPTER 1 Managerial Accounting ASSIGNMENT CLASSIFICATION TABLE Brief Exercises 1 A Problems B Problems Study Objectives *1. Explain the distinguishing features of managerial accounting. Identify the three broad functions of management. Define the three classes of manufacturing costs. Distinguish between product and period costs. Explain the difference between a merchandising and a manufacturing income statement. Indicate how cost of goods manufactured is determined. Explain the difference
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1. Accounting is an information and measurement system that: A. Identifies business activities. B. Records business activities. C. Communicates business activities. D. Helps people make better decisions. E. All of these. 2. Technology A. Has replaced accounting. B. Has not changed the work that accountants do. C. Has closely linked accounting with consulting‚ planning‚ and other financial services. D. In accounting has replaced the need for decision makers. E. In accounting is only
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POSITIVE ACCOUNTING THEORY‚ POLITICAL COSTS AND SOCIAL DISCLOSURE ANALYSES: A CRITICAL LOOK* Markus J. Milne Accountancy and Business Law University of Otago Dunedin New Zealand Ph: 64-3-479-8120 Fax: 64-3-479-8450 Email: mmilne@commerce.otago.ac.nz * The author would like to thank Alan MacGregor‚ Carolyn Stringer‚ Gregory Liyanararchchi‚ Ros Whiting and an anonymous conference reviewer for their helpful comments on earlier drafts of this paper. Thanks are also due to seminar participants
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Laurel Cobb Course Title: Managerial Accounting for Decision Making Assignment 1- GAAP‚ JIT‚ and TOC Question/Prompt Please describe the implications of GAAP in an international company and how JIT and TOC are important to making managerial decisions on inventory and activity based accounting. Please delineate various cost categories and briefly describe each cost type and application within an enterprise. Review of Subject Generally Accepted Accounting Principles (GAAP) is a widely accepted
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The University of Texas at Dallas Financial Accounting: ACCT 6305 Section 001 Fall 2012 Professor Contact Information Ashiq Ali‚ Ph. D. Phone: (972) 883.6360 Office hours: Wednesday 4:00PM-5:00PM Office: SOM 4.434 Office hours: Tuesday 12:00PM-1:00PM Wednesday 4:00PM-5:00PM Office: MC 1.406S Teaching Assistant: Weiwei Wang Note: Send all queries related to the course material to Weiwei Wang (email: wxw107020@utdallas.edu). She will get back to you within 24 hours. If she does not do so‚ then
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