within maintaining the integrity of the profession; * Having in place a robust disciplinary system for those who fail to comply with this standards BY-Laws; * To enhance the status of members. Question 2: Briefly explain the following users of accounting information: Question 2(a): Shareholders (2marks) Answer 2(a): Any person‚ company‚ or other institution that owns at least one share in a company
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Plekhanov Russian Academy of Economics International Economics DERIVATIVE MARKETS FUTURES‚ FORWARDS‚ OPTIONS‚ SWAPS‚ CAPS AND FLOOR MARKETS Prepared by: Zagorskaya Ksenia 1. OVERVIEW OF DERIVATIVE MARKET Derivatives are financial instruments whose value is derived from the value of something else. They generally take the form of contracts under which the parties agree to payments between them based upon the value of an underlying asset or other data at a particular point in time.
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Accounting Reporting Criteria Paper Accounting reporting criteria includes many factors and covers many elements. From Fundamental Financial Accounting Concepts‚ “accounting is so important that it is often called the language of business. In fact‚ accounting affects not only individual businesses but also society as a whole” (Edmonds‚ Edmonds‚ McNair‚ Olds‚ & Schneider‚ 2006‚ p. 4). Global business requires added consideration in the way of accounting reporting criteria. With heightened consumer
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This essay is to critically evaluate the usefulness of the accounting theory to practicing accountants today. It will provide a general assessment of information asymmetry and the fundamental problem of accounting‚ and it will also briefly discuss the normative and positive accounting theories and their usefulness to practicing accountants. After those discussions‚ it will specifically discuss the strength and limitation of positive accounting theory and assess its usefulness to practicing accountants
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journal entry to the right side of a general ledger account Accounting System Flow 1. Transactions are recorded in the form of journal entries and adjusting entries 2. Journal entries are posted into the accounts of the general ledger 3. The trial balance is prepared by listing account balances 4. The financial statements are prepared PPT 3 -CH2 GAAP – generally accepted accounting principles FASB – The Financial Accounting Standard Board Money is the common unit of measure to record
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ACTG2010 Exam-AID session. It is intended for students enrolled in any section of Introduction to Financial Accounting – ACTG2010 course who are looking for an additional resource to assist their studies in preparation for the exam. References Friedlan‚ John. Financial Accounting: A Critical Approach. Toronto: McGraw-Hill Ryerson‚ 2010. Print. Richardson‚ Alan J. Cases in Financial Accounting: A Principles-based Approach. Toronto‚ ON: Nelson‚ 2007. Print. Contents Chapter 1: page 2 Chapter
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Assignment – Social Accounting What is Social Accounting? “Social accounting and auditing is about understanding the impact of organisations on our society and the overarching context is sustainability: both sustainability of the organisation itself (the interrelation of the social‚ the environmental‚ the cultural and the financial) and sustainability of behaviour which contributes to a future for the people and the planet. Social accounting is distinct from evaluation in that it is an internally
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How Accounting Information Systems has Improved Payroll Accounting Abstract Payroll accounting has been greatly improved with the invention of accounting information systems (AIS). The process of payroll is a complicated one that involves many steps. From updating the employee information to printing the checks‚ almost all areas have been improved with the help of AIS. There are many things to keep track of when processing payroll from beginning to end. Many larger companies have turned to outsourcing
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Budget and Responsibility Accounting Budget Meaning Budget is a financial and/or quantitative statement‚ prepared and approved prior to a defined period of time‚ of the policy to be pursued during that period for the purpose of attaining a given objective. * CIMA Official Terminology It is a plan quantified in monetary terms‚ prepared and approved prior to a defined period of time‚ usually showing planned income to be generated and/or expenditure to be incurred during that period
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comply with the Australian Accounting Standards Board (AASB) (Deegan 2008:83). Two companies have been chosen to analyse their reports‚ in particular the disclosures made in their respective reports. The two companies chosen to analyse are Commonwealth Bank of Australia (CBA) and Macquarie Bank Limited (MBL). CBA The Commonwealth Bank is one of Australia’s leading providers of integrated financial services including retail‚ business and institutional banking‚ funds management‚ superannuation
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