http://smallbusiness.chron.com/difference-between-traditional-accounting-computerized- accounting-4021.html INTRODUCTION: Before the advent of fast and cheap computers‚ accounting traditionally was processed manually with all transactions recorded in columnar papers and kept in voluminous binders. Once computers became popular and software affordable‚ accounting tasks moved into this medium‚ where concepts stayed the same but mechanics changed from papers to programs. AIMS AND OBJECTIVE:
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St Joseph Campus Capitol Hill‚ Monrovia Liberia Accounting 401 Section 01 Accounting Theory Assignment #2 To: Mr. Oye Williams By: Fatima E. Manyeh 07436 March 6‚ 2014 1) BDO Seidman’s attorney pointed out correctly that professional standards do not prohibit auditors and client personnel from being ‘friends’. At what point does such relationship result in violation of the auditor independence rules and guidelines? Provide hypothetical examples to strengthen your answers. Health
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(January–April): 1–22. Bannister‚ J. W.‚ and Newman‚ Harry A. 1996. Accrual usage to manage earnings towards financial forecasts Barnea‚ A.; Ronen‚ J.; and Sadan‚ S. 1975. The implementation of accounting objectives: An application to extraordinary items Beidlerman‚ C. R. 1973. Income smoothing: The role of management. Accounting Review 48 (October): 653–67. Boot‚ A. W. A.‚ and Thakor‚ A. V. 1993. Security design. Journal of Finance 48 (September): 1349–78. Boot‚ A. W. A.‚ and Thakor‚ A. V. 1997. Financial system
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Not-for-profit organizations also provide financial information to external users such as citizen groups and donors. As an individual‚ you provide financial information to the internal revenue service and to creditors when you seek a loan. 2. Accounting is often thought of as the “language” used to communicate financial information about a business. The primary method that profit-oriented companies use to provide financial information to investors‚ creditors‚ and other external parties is through
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Chapter 2 Discussion Questions 1. What is the meaning of cost behavior and how does the variable cost behave differently than fixed cost (per unit & total)? Cost behavior is the change of cost relative to change in some extent of activity. The total fixed cost remains constant regardless of change in the volume of activity. However‚ the fixed cost per unit is inversely related to the change in the volume of activity. As the change in the volume of activity increases‚ the fixed cost per unit
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‘Corporate social responsibility‚ public policy and NGO activism in Europe and the United States: an institutional-stakeholder perspective’ Donaldson‚ L. and Davis‚ J. H. (1991). ‘Stewardship theory or agency theory: CEO governance and shareholder returns’ Donaldson‚ T. and Preston‚ L. (1995). ‘The stakeholder theory of the corporation: concepts‚ evidence‚ and implications’. Academy of Management Review‚ 20‚ 65–91. Dutta‚ P. K.‚ Lach‚ S. and Rustichini‚ A. (1995). ‘Better late than early: vertical differentiation
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state that the aims of disclosed discontinued operations and non-current asset disposal is to helped group of users of the financial statement to assess the financial effects. The definition of discontinued operation in IFRS may differ from other accounting standard‚ IFRS has defined discontinued operation is an asset or component of a company that either has been disposed or is regarded as held-for-sale‚ and also have any of the following conditions: 1) It represents a separate key business or an
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Chapter 3: Cost-Volume-Profit Analysis 95 Chapter 3 Cost-Volume-Profit Analysis SOLUTIONS LEARNING OBJECTIVES Chapter 3 addresses the following learning objectives: LO1 LO2 LO3 LO4 LO5 LO6 Explain the concepts of cost-volume-profit (CVP) analysis in decision making Apply CVP calculations for a single product Apply CVP calculations multiple products Describe the assumptions and limitations that mangers consider when using CVP analysis Assess operational risk using margin of
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of an organized system to replace the existing hodgepodge of record-keeping. QUESTION 2 Islamic accounting can be defined as the “accounting process” which provides appropriates information (not necessarily limited to financial data) to stakeholders of entity which will enable them to ensure that the entity is continuously operating within Islamic Sharia’ ah while “conventional” accounting can be defined to be the identification‚ recording‚ classification‚ interpreting and communications economic
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Creative Accounting AC4001 12/13/2013 ‘Many investors now believe that companies can manipulate their accounts more or less at will‚ with the aim of producing profits that increase steadily over time. Provisions are bumped up in good years and later released‚ or the value of an acquisition is slashed; there are plenty of tricks.’ In your opinion is it possible to eliminate creative accounting? I do not think that creative accounting practice can be eliminated completely. However‚ I do
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