Subject: Basic Accounting Batch: 2010-12 Foundation Program Faculty: S. Vijayakumar Bharathi Session Date | Session Details | Plan | Session Method | Session 1-3 | Pre-session preparation | Read from the book Accounting for Management | Syllabus discussion‚ PPTs / Videos on relevant topics | | Session | Introduce Accounting to the students | | | | PPT on basic concepts of Accounting. | | | | GAAP (concepts and conventions in accounting) | | | Post-session assignment
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convergence of IFRS and GAAP‚ it will cover some of the similarities and differences between the two‚ go over risk for companies as well as ways for companies to prepare. | IFRS and GAAP and what convergence means. In financial surprise accounting the objective for financial reporting are to provide useful information for potential investors and creditors‚ assessing cash flow‚ and about claims and changes to company resources. The problem with this is that‚ without standards each company
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PRINCIPLES OF ACCOUNTING 1 ACCOUNTING THEORY NOTES (a) International Accounting Standards and International Financial Reporting Standards. The foreword to accounting standards defines Accounting Standards as Authoritative statements of how particular types of transaction and other events should be reflected in financial statements. Accounting Standards are developed to achieve comparability of financial information between and among different organizations. International Accounting Standards (IAS’s)
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Managerial Accounting Chapter # 01 Homework 1 01) How does managerial accounting differ from financial accounting? A: Managerial accounting is concerned with providing information to managers for use inside the organization. Financial accounting is con¬cerned with providing information to stockhold¬ers‚ creditors‚ and others outside of the organi¬zation. 02) Pick any major television network and describe some planning and control activities that its managers would engage in. A: Five examples
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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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government accounting principles and professional standards. An accounting specialist also aids federal authorities in evaluating budget data‚ estimating revenue and expense levels‚ and adjusting social programs. Based on theories: Advantages: * Challenging‚ Rewarding and Fulfilling Work * Excellent Benefits * Job Availability and Demand * Competitive Salaries * Career Progression Disadvantage: * Without solid government accounting experience
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1. In an accounting information system‚ which of the following is NOT a transformational process? a. collecting data b. analyzing data *c. performance reporting d. summarizing data 2. Which of the following is NOT a process associated with an accounting information system? *a. auditing existing data b. collecting and recording data c. providing information to users d. analyzing and managing data 3. In an accounting information system‚ the inputs are usually a.
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lender or investor. To obtain funding‚ you need to convince a lender / investor that your business is more than a hobby. You need to demonstrate that you have a firm grasp of your business‚ the accounting practices that impact your business‚ the controls needed to safeguard assets‚ and which accounting system will produce accurate and relevant financial information. Write a six to eight (6-8) page business plan in which you: 1. Describe the type of business you have created including: a. The
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Unit 9 Final Project: Integrity in Accounting “In 2001 and 2002 corporate giants like Enron‚ Global Crossing‚ and WorldCom were forced to declare bankruptcy‚ and massive accounting and other irregularities were revealed… In response to the public outcry that ensued‚ the [Sarbanes-Oxley] Act was enacted” (Lander‚ 2004‚ p. 1). Officials feared that because of these scandals in the financial reporting industry that investor confidence would be lost‚ which would cause the economy to deteriorate.
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The history of accounting is as old as civilization and is among the most important professions in economic and cultural development. Much of what we know about the daily lives of ancient people comes from accounting records‚ such as inventories and sales records‚ found at archeological sites. People in all civilizations have maintained various types of records of business activities and the earliest known records kept are the clay tablet records for the payment of wages in the Mesopotamian Valley
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