Effects of Technology on the Accounting Profession Effects of Technology on the Accounting Profession University of Phoenix ACC/340 Accounting Information Systems Effects of Technology on the Accounting Profession Businesses have become more competitive‚ consumers are more informed‚ and technology has changed the way the world communicates. Information technology (IT) and the resulting ‘information age’ are continuously impacting every facet of accounting. (Bagranoff‚ Simkin‚ & Strand-Norman
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DIFFERENCE BETWEEN PRIVATE COMPANY AND PUBLIC COMPANY PRESENTED BY: DEBASIS BEHERA REGD NO:10HM08 What is company? An association of persons who contribute money or money’s worth towards a businessLord Lindley. Voluntary association formed and organized to carry on a business in the legal name of the association. Company formed and registered under company act. What is private company? Business firm in the private (non-public) sector of an economy‚ controlled and operated by private
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A. Effects of Changes in Behavior of Accounting Technicians in the Organization An organization’s performance is dependent on the performance of the workforce. The need for pushing the right buttons of each employee is very critical in order for them to have the right motivation and work attitude needed to be productive in his/her field of work. With this‚ a worker’s behavior should be understood in a way that one can understand better especially for employers who want their companies to benefit
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Page 1 of 15 CEBU CPAR CENTER Mandaue City‚ Cebu AUDITING THEORY AUDITING IN A COMPUTER INFORMATION SYSTEMS (CIS) ENVIRONMENT Related PSAs/PAPSs: PSA 401; PAPS 1001‚ 1002‚ 1003‚ 1008 and 1009 PSA 401 – Auditing in a Computer Information Systems (CIS) Environment 1. Which statement is incorrect when auditing in a CIS environment? a. A CIS environment exists when a computer of any type or size is involved in the processing by the entity of financial information of significance to the audit
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A professional judgment is a key factor in auditing. As a result of development of auditing and accounting industry‚ especially after a series of accounting fraud and auditing failure cases‚ such as Enron and Arthur Andersen‚ in the last decade‚ professional judgments is becoming a more and more important aspect for the independent auditing industry. Recently‚ many countries and professional bad issued more strict auditing standards to emphasize to this point. It means the auditor should be required
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JB Hi-Fi Limited JB Hi-Fi Limited also operates in retailing industry mainly selling electronic products to consumers. The environmental sustainability is a major concern for JB Hi-Fi when undertaking its corporate social responsibility. The company is committed to several voluntary initiatives to ensure the business operation would bring minimal impacts on the
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of unearned revenue would be 1.Prepaid Expense - A year long insurance contract a company paid $12‚000 for at the beginning of the year. Since the insurance company owes the company service‚ the expense prepayment is recorded as an asset Journal Entries: debit Prepaid Insurance and credit Cash). 2. Unearned Revenue - A year long subscription of $12‚000 is received in advance by a magazine company. Because the company owes something‚ the unearned revenue is recorded as a liability. 3. Non-cash: These
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Accounting numbers in business is a closely watched area these days largely in part to the bad financial decisions made by certain corporations. This all has happened over the past 10 years when large corporations were found to be fudging the numbers causing thousands and thousands of employees to lose everything when the company went under. The article chosen for this paper is about the importance of educating students on ethics in accounting. It was written by Susan Schott Karr in 2004‚ who frequently
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(Organizations associated with the public accounting profession) Several private and public sector organizations are associated with the profession. Listed below are activities pertaining to these organizations. REQURIED: Indicate the organization or organizations associated with each activity 1. License individuals to practice as CPAs * State Boards of Accountancy - There are 54 boards of accountancy. Licensing‚ renewing‚ and suspending or revoking licenses to practice are the primary functions
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in all local newspapers must not be false or misleading. If Sam enter into the contract on the basis of what was in the advertising given by the company‚ he can claim damages if the information turn out to be incorrect. He can file a complaint against the company because he is not satisfied with the overseas trip and he may be entitled to take the company to the small claim court. Businesses must take care that consumers aren’t misled or deceived. Sam have been misled because the information that
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