primarily responsible for the Japanese accounting system being significantly different from other national systems and what influences do you consider the Japanese system will have on international accounting in the future? INTRODUCTION Japan as an accounting jurisdiction is characterized by the dominance of the state (Haller and Raffournier‚ 2003). The accounting rules have been set out in the past fifty years as statute law with an implicit objective that accounting should contribute to the growth
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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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requires knowledge of the inventory cost flow assumption being used. 5. If a firm’s payment terms for sales made on account to its customers were 2/10‚ n30‚ the number of days’ sales in accounts receivable would be expected to be: a. less than 10. b. between 10 and 25. c. between 25 and 40. d. over 40. 6. When a firm has financial leverage: a. ROI will be greater than ROE. b. ROI will usually
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Introduction to Accounting Instructor : M. Morshed (MDM) Senior Lecturer‚ School of Business. Semester : FALL Year : 2012 Submitted by Robiul Hassan Labib ID – 1220296030. | | | | Question 1: Explain using various examples‚ how the major accounting concepts
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Early Detection = $ Saved Accounting Anomalies Accounting Anomalies Faulty Journal Entries Inaccuracies in the Ledgers Ledger Doesn’t Balance Doesn’ Master or Control Accounts Do Not Equal the Sum of Individual Customer or Vendor Accounts 1 Recognize Internal Control Weaknesses Lack of Segregation of Duties Lack of Physical Safeguards Lack of Independent Checks & Reviews Lack of Proper Authorization Overriding of Existing Controls Inadequate Accounting System Common Examples
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Stock Option and Ethics Carol Berry ACC201 Principles of Financial Accounting Instructor: David Miller August 1‚ 2011 Stock Option and Ethics In today’s corporate world stock options makes up and is increasingly dominates CEO pay packages. CEO’s and top level executives are paid in a variety of different ways and stock options are just one of the ways that they get paid. CEO’s and executives have skills and responsibilities that allow directors of companies to pay these executives an extremely
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Question W 1-8 Shareholder of the oil company would be the ones most interested in the financial reports. The financial statements that would be disclosed‚ would eventually affect the price of the share. Their investment would be on stake. Higher price would mean a higher share price and more returns and dividends. Furthermore prospective share holders can decide whether they want to invest in the oil company or not and whether it is safe to invest in the company or not. The creditors of the company
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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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Integrated Accounting Daniel Evan G. Ong Jan Edick M. Esconde Mark Jay A. Lapidez ongdanielevan@yahoo.com je_esconde@yahoo.com markjaylapidez@ymail.com 09262057431 09223795744 09169957560 INTRODUCTION: PROJECT CONTEXT Integrated accounting is a well-known accounting system in which the accounts are integrated and only a single set of accounts are maintained‚ basically it avoids maintenance of accounts under cost accounting &
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This means an accounting should follow a conservative approach‚ should record lowest possible value for assets and revenue and the highest possible value for liabilities and expenses. According to this principle‚ the principle of ‘anticipate no profit but provide for all probable losses ‘ should be applied. The valuation of stock-in -trade at a lower of cost or net realizable value and making the provisions for doubtful debts and discount debtors are the applications of this principle . In other words
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