Student Number: __________________________ Pages: 12 Questions- Section A: 6 Section B: 15 UNIVERSITY OF TASMANIA EXAMINATIONS FOR DEGREES AND DIPLOMAS October- November 2008 BFA707 THE ACCOUNTING FRAMEWORK Examiner: Mrs Debbie Wills Time Allowed: THREE (3) hours Instructions: This examination paper is to be marked out of 100. It has two sections. Write your student number clearly at the top of this examination paper. Hand in the examination paper. Do not remove any part
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ETHICAL ISSUES IN MANAGERIAL ACCOUNTING The aim of this paper is to highlight in the light of the empirical researches conducted previously the presence of ethical issues and dilemmas in managerial accounting. The implications of which can be disastrous bringing colossal giants crumbling to their knees. The prime aim is to throw light at the subtle inconsistencies that can cost the companies far more than just money but their entire image. The asset of ‘good will’ has its nemesis in these unethical
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The Importance of Accounting Theory to the Field Of Accounting The objective of theory is to explain and predict. One of the basic goals of the theory of a particular discipline is to have a well-defined body of knowledge that has been systematically accumulated‚ organized‚ and verified well enough to provide a frame of reference for future actions. The Webster’s definition of theory is the systematically organized knowledge‚ applicable in a relatively wide variety of circumstances‚ a system
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Ethics in Accounting • • • • • • • • Systematic body of theory and knowledge Extensive education process for its members Ideal of service to the community High degree of autonomy and independence Code of ethics for its members Distinctive ethos/culture Application of professional judgment Existence of a governing body Attributes of a profession • Service ideal • Market control view The service ideal vs. the market control view Accountants work in: • private companies
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Abstract: Creative accounting is a practice of accounting following the certain rules of it‚ but it is fluctuated from the basic spirit of those rules. Creative accounting is the ‘colorful’ representation of a company’s assets‚ liabilities and income. It is basically done to attract investors. The example of ‘the half glass of water’ maybe pulled to explain the idea. If a glass is filled with water to its half volume‚ then instead of saying ‘it is half empty’‚ the creative accountants prefer
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Whistleblower Policy HR-PO718‚ | 1.1 Sharda Centre‚ Off Karve Road‚ Erandwane‚ Pune‚ Maharashtra‚ India 411004 www.techmahindra.com Copyright © 2013‚ Tech Mahindra. All rights reserved. WHISTLEBLOWER POLICY Company-Confidential Table of Contents 1. OBJECTIVE .................................................................................................................................. 3 2. SCOPE .........................................................................................
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II – PBE Management accounting and finance) Simon S P Lee‚ The Chinese University of Hong Kong Dividend Policy Bank distributed a $6.30 dividend per share in 2008. If you purchased shares in Hang Seng Bank at $87 per share‚ the company’s dividend yield was 7.2% ($6.30/$87) which is much higher than the bank deposit rate. Dividend payout ratio is another important indicator: Dividend payout ratio = Dividend per share ÷ Earnings per share Dividend policy is the policy used by a company to
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Financial accounting reports are prepared for the use of external parties such as shareholders and creditors‚ whereas managerial accounting reports are prepared for managers inside the organization. This contrast in basic orientation results in a number of major differences between financial and managerial accounting‚ even though both financial and managerial accounting often rely on the same underlying financial data. In addition to the to the differences in who the reports are prepared for
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3101AFE TUTORIAL 1 – Semester 1 2014 Deegan Topic 1 Introduction to financial accounting theory 1.1 What is the difference between a positive theory of accounting and a normative theory of accounting? 1.6 The IASB and the FASB are currently developing a revised conceptual framework of financial reporting. If you have been asked to review the framework—which is an example of a normative theory of accounting—why would it be important for you to pay particular attention to how the objective
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Historical cost accounting Advantages • Historical cost accounts are straightforward to produce • Historical cost accounts do not record gains until they are realized • Historical cost accounts are still used in most accounting systems Disadvantages • Historical cost accounts give no indication of current values of the assets of a business • Historical cost accounts do not record the opportunity costs of the use of older assets‚ particularly property which may be recorded at a value based
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