another person or company in order to damage them‚ usually for personal gain. Defrauding people of money is the money is the most common type of fraud. Some types of fraud include false accounting‚ check fraud‚ and Internet fraud. Accounting fraud or scandals are business scandals that come from the tampered reports‚ usually by long time employees or trusted executives in either a large corporation or small business. In order to hide serious financial problems‚ these companies will use fraudulent
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------------------------------------------------------------------------------------ Accounting Concept and Conventions In drawing up accounting statements‚ whether they are external "financial accounts" or internally-focused "management accounts"‚ a clear objective has to be that the accounts fairly reflect the true "substance" of the business and the results of its operation. The theory of accounting has‚ therefore‚ developed the concept of a "true and fair view". The true and fair view
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define accounting. What are the three main characteristics of accounting? Is accounting static or dynamic? Accounting collects‚ analyzes‚ measures and records financial information about an organization and reports that information to stakeholders and decision makers. Accounting has 3 essential characteristics. Accounting is the (1) identification‚ measurement‚ and communication of financial information about economic entities to interested persons. Like social sciences‚ accounting is largely
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000 Stock dividend 240‚000 425‚000 Retained earnings unappropriated‚ December 31‚ 2011 $1‚262‚000 1. On January 2‚ 2011 short-term investments (classified as available-for-sale) costing $121‚000 were sold for $155‚000. 2. The company paid a cash dividend on February 1‚ 2011. 3. Accounts receivable of $16‚200 and $19‚400 were considered uncollectible and written off in 2011 and 2010‚ respectively. 4. Major repairs of $33‚000 to the equipment were debited to the Accumulated Depreciation
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Assignment 1: Review of Accounting Ethics The New Zealand Institute of Chartered Accounts (NZICA) represents over 33‚000 members in New Zealand and overseas. The organization audits private companies and public companies that are members of the organization (Graham‚ 1960). In October 2012‚ the organization was found to be practicing breaches of accounting with its members when an employee of the organization was found investing in different companies using client’s money. The loans were supposed
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requirement‚ we are assigned the topic “Carbon Accounting” by our course teacher for accomplishing our report. 1.2 Objectives of the report To attain the skill of report writing. To achieve deep knowledge about Carbon Accounting. To fulfill the partial requirement of our course of Accounting for Managers. 1.3 Methodology of the report This study was a descriptive research where we have been analyzed mainly secondary data to understand the Carbon Accounting and its application. All the data has
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beverage by mixing Coca-Cola syrup with carbonated water. Coca-Cola was introduced in 1886‚ patented in 1887‚ registered as a trademark in 1893 and by 1895 it was being sold in every state and territory in the United States. In 1899‚ The Coca-Cola Company began franchised bottling operations in the United States. Coca-Cola might owe its origins to the United States‚ but its popularity has made it truly universal. Today‚ we can find Coca-Cola in virtually every part of the world. Coca-Cola Beverages
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Planning‚ Cik Lim should not update AP. The liability should be recorded by another clerk from Finance Department. - In this case‚ all matters regarding finance will be done by En. Razi. In order to have a good flowchart of purchasing process‚ the company should have a good segregation of duties and not rely on En. Razi. d) The Finance Clerk‚ Encik Faris should not prepare cheque. - Payments to suppliers can only be authorized by AP. Voucher should be prepared by the one who updated account payable
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Introduction It is a requirement that‚ if an entity is defined as a reporting entity‚ it is required to release financial reports that 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
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IMPACT OF TECHNOLOGY ON THE ACCOUNTING PROFESSION - A STUDY OF A CPA FIRM’S DISASTER RECOVERY PLANNING Stanley X. Lewis‚ Jr.‚ Troy University Eddy J. Burks‚ Troy University Ernest W. King‚ University of Southern Mississippi Carl Smolinski‚ LSU-Shreveport ABSTRACT The results of an ongoing study of professional accounting firms in the U. S existing research methodology and results included in the 2006 IRMA International Conference reporting the strategic planning by a law firm pertaining to its disaster
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