1 The ethical guidelines which accountants are obliged to follow in the conduct of their work are made to combat criticism and gain credibility by preventing fraudulent accounting. Accountants ought to be able to maintain impartiality and independence to create a clear‚ credible and unbiased audit. Hence‚ the ethical principles are considered important. This is because the work of accountants requires a high level of ethics since the financial statements prepared and verified by auditors reflect
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> UNDERSTAND QUICKLY > REVISE EFFECTIVELY > TAKE EXAMS WITH CONFIDENCE CRIMINAL LAW EMILY FINCH AND STEFAN FAFINSKI CRIMINAL LAW Stefan Fafinski‚ University of Leeds Emily Finch‚ University of East Anglia Table of cases and statutes Cases Able [1984] QB 795 Adomako [1995] 1 AC 171 AG for Jersey v. Holley [2005] 3 AU ER 371 A–G for NI v. Gallagher [1963] AC 349 A–G Ref No 3 of 1994 [1998] AC 245 A–G’s Reference (No. 2 of 1983) [1984] QB 456 Ahuwalia [1992] 4 AUER 889 Allen [1985] AC
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the legislature "lay down by legislative act an intelligible principle to which the person or body authorized to fix such rates is directed to conform". Whitman v. Am. Trucking Ass’Ns‚ 531 U.S. 457 (U.S. 2001)‚ Loving v. United States‚ 517 U.S. 748 (U.S. 1996)‚ citing Chief Justice Taft in J. W. Hampton‚ Jr.‚ & Co. v. United States‚ 276 U.S. 394‚ 409 (U.S. 1928). The question becomes what is the "intelligible principle" and whether it exists in the Emergency Bubblegum Price Control Act. In Mistretta
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Usefulness Theory 5 Critical Accounting Theory and Critical Theory 6 System-Oriented Theories 7 Open System Theories 8 Behavioral Decision Theory 9 Legitimacy Theory 10 Political Economy Theory 11 Institutional Theory 12 Stakeholder Theory 13 Agency Theory 14 Normative Theory 15 Public Interest Theory 16 Capture Theory 17 Economic Interest Theory/Private Interest Theory 17 Positive Accounting Theory 18 Chambers ’ Theory of Accounting 19 Trickle Down theory
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8.21 (1) MA‚ I/P (2) FFR‚ O (3) FFR‚ I/P (4) MA‚ O (5) MA‚ R (6) FFR‚ I/P (7) FFR/ O (8) FFR‚ R (9) FFR‚ R (10) MA‚ I/P (11) MA‚ R (12) FFR‚ O 8.27 Fraud risk (a) Fraud risk factors ASA 240 - high degree of competition in the market - Domination by Rob Bigbucks (CEO&chairman) - Threatened employees with no pay rises - Significant portion of sales managers salaries are paid in bonuses - The industry is in a recession and it is starting to affect the company – Potentially leading
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THE ACCOUNTING CYCLE LARRY M. WALTHER & CHRISTOPHER J. SKOUSEN DOWNLOAD FREE TEXT BOOKS AT BOOKBOON.COM The Accounting Cycle © 2009 Larry M. Walther‚ under nonexclusive license to Christopher J. Skousen & Ventus Publishing ApS. All material in this publication is copyrighted‚ and the exclusive property of Larry M. Walther or his licensors (all rights reserved). ISBN 978-87-7681-486-1 Download free books at BookBooN.com 2 Contents The Accounting Cycle Contents Part 1:
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weaknesses‚ the cost principle is most often used because it is the most reliable basis of valuation. TRUE 2. The going concern assumption assumes the company will continue to operate for at least two years. TRUE 3. The economic entity assumption states that economic events can be identified with a particular unit of accountability. FALSE 4. The monetary unit assumption states that transactions that can be measured in terms of money should be recorded in the accounting records. TRUE
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correct picture on the firm’s financial performance and financial position. We have to recognize all transaction occurring in that accounting period‚ irrespective of whether cash has been received or paid. The ultimate objective of adjusting entries is to ensure that the revenues (income) earned in the accounting period are matched by all costs incurred for that same accounting period (Monash College‚ 2011). Prepayment There are two types of adjusting entries‚ prepayments and accruals. Prepayment is
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ACCOUNTING SUBSTANCE OVER FORM Substance over form is an accounting concept where the entity is accounting for items according to their substance and economic reality and not merely their legal form. It is one of the key determinants of reliable information. For most transactions there will be no difference and in some cases however‚ the two diverge and the choice of how to present the transactions can give very different results. This differences occurs when an asset or liability is not recognized
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* Write an essay in 250 to 300 words‚ Include the following: * The basic assumption of accounting * The constraints of accounting * A conclusion stating how you think sound financial reporting depends on principles‚ assumptions‚ and constraints. Refer to the U.S. GAAP in your response. The basic assumptions of accounting = separate entity assumption- finances from the company finance so that they don’t get intertwined with the owner or shareholders finance. Going concern assumption=
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