CHAPTER 1 Accounting—Present and Past CHAPTER OUTLINE: I. What Is Accounting? A. Definition B. Uses of Accounting Information C. Classifications 1. Financial Accounting 2. Managerial Accounting / Cost Accounting 3. Auditing — Public Accounting 4. Internal Auditing 5. Governmental and Not-for-Profit Accounting 6. Income Tax Accounting II. How Has Accounting Developed? A. Early History B. The Accounting Profession in the United States C. Financial Accounting Standard
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INTRODUCTION Encik Selamat‚ a Certified Public Accountant (CPA)‚ had been the General Manager of Excel Poultry & Meat Sdn Bhd (EPM)‚ a subsidiary of PCK Holding‚ since 2005. The set up was small and medium sized enterprise (SME) located in Kluang‚ Johor. In year 2008 his career track and had been smooth closing when the company he presently helmed faced operational crises. The “chicken run” saga pictured a case that was familiar in respect of management of SME industry‚ at the infant stage when
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“Adoboli Trades Were Queried by UBS Accountant” I chose an article from the Financial Times that is based on a man by the name of Kweku Adoboli‚ a former trader based in London. Adoboli was accused of fraudulently gambling away $2.3 billion from the Swiss bank‚ UBS. According to his LinkedIn profile‚ from 2006 to 2011‚ he worked at USB’s Equity Trading division as a trade support analyst in the London office. In August 2011‚ a back office accountant at UBS started asking Adoboli questions once
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Golden Gate & Associates‚ CPA 99 Biscuit Lane‚ Suite 800 San Francisco‚ CA 94108 May 14‚ 2014 Grace Lau‚ Chairman ABC-VC 536 Mission Street‚ Suite 500 San Francisco‚ CA 94105 Dear Ms. Lau‚ Thank you for CAA for accounting treatment in regards to your venture capital stake in WesternGraphics (Western). In our introductory meeting‚ you requested this firm to research on the accounting treatment for capitalizing the accumulated MediaBlitz marketing consultancy charges ncurred and the
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In the case of Goodner Brothers‚ Inc. ‚ the six key control weakness were no proper segregation of duties‚ no proper procedure on recording documents‚ lacking monitoring on performance review‚ low gross profit margin than benchmark‚ no control on accessing to the accounting system and inventory storage and too depends on the honesty of the employees. Woody Robinson know very well that the company have these weaknesses that give him the chances to enter the hole to start the fraud activities. Firstly
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List 3 lessons about ethics from this article. 1. The first one is the most powerful lesson learned from practicing ethical conduct during Boisjoly’s 27-year engineering career in the aerospace industry‚ is that them‚ as individuals‚ become the result-ant sum of each ethical confrontational event as experienced from the beginning of their careers. 2. The second lesson is what he learned was to never delay informing superiors of bad news so he could protect his integrity
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The Auditor Paper 6-8: According to the book‚ it is incredibly important to successfully complete the CPA exam in the first year. Jack Butler informs us that new staff members can greatly distinguish themselves by passing the CPA exam the first attempt because so few people manage to do so. Other benefits of this would include spending less time studying and more time working‚ financial benefits of not having to pay for additional attempts‚ and it is mandatory in order to move up in the company
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West Texas A&M established on September 20‚ 1910‚ was originally known as West Texas state normal college‚ and will provide me with the opportunity to learn new skills to further my career. “The size of West Texas A&M University is a public institution that was founded in 1910. It has a total undergraduate enrollment of 7‚279‚ its setting is suburban and the campus size is 13 acres.” It utilizes a semester- based academic calendar. To be accepted into West Texas A&M you are required to have a 2
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Why I want to become an accountant. Composing. Why I want to become an accountant? Have you ever been in the accounting department? I have been in the accounts. Everywhere numbers and digits‚ and small and large‚ very different‚ but in the end all agree with each other. Accounting! Surprisingly interesting. Mayakovsky Accountant - responsible profession. It requires a mathematical mind‚ here it is all very logical‚ exactly. The main principle of accounting - rigid logic. Some people believe that
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THE UNIVERSITY OF NEW SOUTH WALES Australian School of Business School of Accounting ACCT 1501: Accounting and Financial Management 1A Week 1 Introduction to Financial Accounting & Key Financial Statements Student Handout Lecturer: Dr. Youngdeok Lim School of Accounting UNSW QUAD 3069 youngdeok.lim@unsw.edu.au Blackboard: http://telt.unsw.edu.au. Session 1‚ 2013 WEEK 1: Introduction to Financial Accounting & Key Financial Statements Welcome to Accounting and Financial Management
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