Accounting Ethics Accounting ethics is primarily a field of professional ethics‚ the study of moral values and judgements which are applied to the accountancy. “Accounting ethics can be defined as a set of distinct guidelines for a business to maintain clean balance sheets‚ accounting for their profits‚ losses and expenses incurred and prevent it from mishandling financial reports and statements” (Buzzle 2011). The nature of the work carried out by accountants and auditors requires a high level
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THE SHIPPING INDUSTRY ACCOUNTING TEAM Summary: Sarah (the name given by us) has been working in McKay‚ Sanderson‚ and Smith Associates a mid-sized accounting team located in Boston that is specialized in commercial accounting and audits for past five years. Her specialty is accounting practices for shipping companies‚ ranging from small to certain big fleets along east coast. About two months ago her company merged with another two other accounting firms which has offices in Miami‚ Seattle‚ Baton
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realised the fact that the knowledge I have gained till now is not enough for me. And now I have decided to complete my business studies so that I will be capable first and then go for practical knowledge in the real business world. I eventually plan to work as a professional in an international context‚ and I am convinced that by studying alongside the dedicated professionals‚ I will be able to engage in enlightening research and acquire a more profound academic foundation from your esteemed University
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Brief Exercise 11.1 Alpha Company Stockholders Equity section of the Balance Sheet Issued and outstanding common stock (10‚000 * 10) 100‚000 Additional paid-in capital (10‚000 * 3) 30‚000 Total paid-in capital 130‚000 Retained Earnings 75‚000 Total Stockholder Equity 205‚000 Brief Exercise 11.2 Beta Company Stockholders Equity section of the Balance Sheet Issued and outstanding common stock (10‚000 * 25) 250‚000 Issued and outstanding preferred stock (10‚000 * 100) 100
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In what ways can an organization’s structure and culture be internal strengths or weaknesses? Every organization has a corporate structure and culture these vary based on several variables. I will discuss the most common which is a divisional structure‚ which is appropriate for a large corporation as well. According to our text regardless of the size of a company to be strong the basic structure within the company must easily support a strategy under consideration by top management. Management in
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ACCOUNTING THEORIES 1. What is the difference between a positive theory of accounting and a normative theory of accounting? 2. What do we mean when we say that ‘theories are abstractions of reality’? Do you agree that theories of accounting are necessarily abstractions of reality? 3. Identify and explain 5 different criteria we might use to establish a theory as being suitable for use in our research. 4. Is the study of financial accounting theory a waste of time for accounting
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Allison Hoover Chapter 5 notes I. Formal Components of Narrative Rhetoric II. In narrative rhetoric a story is told to make a point. In some cases the entire work of rhetoric is a story and the main point is implied. In other instances‚ the rhetor may use a number of small stories to make a point. In still other instances‚ the rhetor may refer to‚ but not tell in any detail‚ a widely known story. This type of narrative is somewhat similar to enthymematic argument and is used most often in
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Function of Computer Hardware Components Main Internal Components Processors: Shorter name for the CPU which stands for Central Processing Unit. The processor is a part of the Computer that will follow information that has been given in order to set up a program. Motherboard: A major piece of hardware and holds important components together such as the CPU and memory. BIOS: Basic input/output system has certain instructions in which this will help to start up a pc. Whenever you
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CHAPTER 9 Reporting and Analyzing Long-Lived Assets ANSWERS TO QUESTIONS 1. For plant assets‚ the cost principle states that plant assets are recorded at cost‚ which consists of all expenditures necessary to acquire the asset and make it ready for its intended use. 2. In a cash transaction‚ cost is equal to the cash paid. In a noncash transaction‚ cost is equal to the cash equivalent price paid‚ which is the fair market value of the asset given up or the fair market value of the asset received
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Chapter 4 Case 2: Greetings Inc.: Activity-Based Costing Solution: 1. An activity-based costing system may be appropriate for Wall Décor‚ when overhead allocation based job-order costing provides product cost distortion. As seen on previous case‚ this distortion happens when one product is manufacturing in high volume and the others are manufacturing in complexity as well as in low volume. In this situation Wall Décor should change its costing system for selling its high volume produced
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