* 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=
Premium Generally Accepted Accounting Principles
Management Accounting Contents 1. Introduction 3 2. Traditional costing system and its limitations 3 3. Activity-Based Costing 4 4. Case Question 4 5. Analysis of the different result between traditional costing system and ABC system
Premium Costs Cost accounting Management accounting
project planning issues Introduction The previous modules have taken project staff and stakeholders through a process of understanding resource management issues‚ and their social and economic context. The next stage in a participatory resource management program is planning. During this stage‚ facilitators working with the project can use the activities in this module involve stakeholders to develop potential solutions and selection appropriate options for development into a project plan.
Premium Project management Decision making
Managerial Accounting Reality Check Summaries Professor Shin Hee-Lim Shin 1001006 Reality Check – What’s your blog’s ROI? Summary ROI has been always one of the important factors to determine how profitable the business is doing. However‚ for until last few decades‚ ROI was only implementing to evaluate the hard assets like buildings and equipment. But in nowadays‚ many companies are using ROI to evaluate the investment in technology‚ such as blog. As a following example‚ it shows that
Premium Time Corporation Economics
The University of Texas at Dallas Financial Accounting: ACCT 6305 Section 001 Fall 2012 Professor Contact Information Ashiq Ali‚ Ph. D. Phone: (972) 883.6360 Office hours: Wednesday 4:00PM-5:00PM Office: SOM 4.434 Office hours: Tuesday 12:00PM-1:00PM Wednesday 4:00PM-5:00PM Office: MC 1.406S Teaching Assistant: Weiwei Wang Note: Send all queries related to the course material to Weiwei Wang (email: wxw107020@utdallas.edu). She will get back to you within 24 hours. If she does not do so‚ then
Premium Financial statements Homework Academic dishonesty
GREEN ACCOUNTING: ENVIRONMENTAL ACCOUNTING As we all know‚ businesses are formed to deliver services or produce products in order to earn a profit. In the 21st century accounting goes beyond the bottom line of black or red � � it includes �green�‚ too. With the growing green consumer awareness‚ companies are more than ever expected to align its business strategies with environmental initiatives. Environmentally conscious companies have already discovered that they can generate business strategies
Premium Sustainability Environment Environmentalism
Will there be one set of accounting standards in use throughout the world in the next five years? Accounting around the world has become a huge focus in recent years due to the diversity of methods used in accounting and the difficulty of comparing US based firms and international firms. In the United States the guidelines that govern accounting are US Generally Accepted Accounting Principles or GAAP. Recently the Securities Exchange Commission or SEC has begun the process of switching to the International
Premium
1) Managerial accounting has its focus on analyzing and providing cost information within the company internally so that its management can plan‚ operate and control the company more effectively. In contrast‚ financial accounting has its focus on the financial statements which are distributed to external stockholders‚ lenders‚ financial analysts‚ and others outside of the company‚ as mentioned by (K.A. Francis‚ n.d.) Knowledge in management accounting will allow Anne Radhika to have knowledge of
Premium Management accounting Costs
perceived. In an accounting context‚ the sustainability reporting has evolved into a kind of tool for an organization to show and present its Corporation Social Responsibility. Moreover‚ it is also the expectation for the business organization to operate in a sustainable way. In the recent researches‚ there are sufficient evidences show how important the sustainable development to the community? How the conventional accounting evolve into two breeds of accounting‚ which are social accounting and environment
Premium Sustainability
expected to be able to apply the concepts you learned from those readings and cases to other settings. 6. You will need to know both IFRS and U.S. GAAP‚ as discussed in the textbook and my lecture notes. However‚ you are NOT responsible for the following materials from the textbook: b) Chapter 7: The journal entries discussed on pages 333-339. c) Chapter 9: Asset revaluations (p. 434)‚ IFRS treatment of asset impairment discussed on pages 435-437; and IFRS & US GAAP treatment of goodwill impairment
Premium Generally Accepted Accounting Principles Depreciation Revenue