USERS OF ACCOUNTING INFORMATION AND THEIR NEEDS ACCT101 [Assignment 1] - Accounting Information‚ Users and Uses Abdul Samad Mustafa [1283] Course: ACCT101 [Dr. Naim Hassan El-Sayed] NYIT – Abu Dhabi‚ U.A.E. CONTENTS Abstract 3 Users of Accounting Information and their needs 4 Introduction 4 Users of accounting Information and responsibilities of accountant 4 External Users 6 Internal Users 7 The needs of accounting information 7 Conclusion 8 References 9 Abstract External users of accounting information
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of positive accounting which is focused on the assumption that ‘all individual action is driven by self-interest and that individuals will act in an opportunistic manner to increase their wealth’. Based on Watts and Zimmerman’s theory‚ Deegan suggests that owners would expect managers to undertake activities that might not always be in the best interests of the owners due to the presumption that individuals act in their own interests. Furthermore‚ due to the position managers have within a firm
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Advanced Accounting Theory Final Paper April 28‚ 2014 Real and Accrual Based Earnings Management 1.1 Introduction The most important item in the financial statements of a company is earnings. Earnings indicate the amount of value-added activities a company has engaged in over a period of time‚ as well as assist in the direction of resource allocation in capital markets. Just as the eyes are the window to the soul‚ earnings are the window to a company’s value. Increasing earnings represent
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Country Differences in Accounting Standards There are five main influences on a country’s accounting system. Having a different system of accounting is like having a different culture for countries. There are many different things that dictate how an accounting differs. The relationship between business and providers of capital‚ political and economic ties with other countries‚ inflation accounting‚ level of development‚ and the national culture are the five influences on accounting systems. Relationship
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question. Add commas where necessary. 1) Theresa Tafoya whose grandmother was also a well-known artist has a painting on exhibit in the Museum of Contemporary Art. 1) 2) The son who lives in Bermuda does genetic research. 2) 3) The Jacksons have two sons. The son who lives on Prince Edward Island writes novels for a living. 3) 4) The wheel which was invented thousands of years ago is one of the most significant inventions of all time. 4) 5) The city‚ where Priscilla lives‚ is Dallas
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<i>I saw a creature‚ naked‚ bestial‚ <br>Who‚ squatting upon the ground‚ <br>Held his heart in his hands‚ <br>And ate of it. <br>I said‚ "Is it good friend?" <br>"It is bitter-bitter‚" he answered; <br>"But I like it <br>Because it is bitter <br>And because it is my heart."</i> <br>- Stephen Crane <br> <br>This reflects how both Grendel and Frankenstein must have felt during their lonely lives. The monsters simply wanted to live as the rest of society does. However‚ in our prejudice of their kind
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------------------------------------------------- Forensic Accounting and the use of technology: The Toronto Sun October 4‚ 2009 Sunday FINAL EDITION Investigate the world of forensic accounting BYLINE: BY SHARON ASCHAIEK‚ SPECIAL TO SUN MEDIA SECTION: NEWS; Pg. CE11 LENGTH: 733 words Lately‚ cooking the books seems to be a national pastime in some corners of North American corporate culture. Over the last several years‚ Canadians and Americans have witnessed a rash of accounting and financial fraud incidents
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Introduction The parade of corporate accounting scandals of the last decade‚ with lion’s share occurring in 2002‚ has developed deep antipathy and distrust towards corporations and their reporting practices‚ and casted doubts on the opinions of audit firms. As majority of these accounting frauds occurred in the US (See Appendix)‚ there was a widely-held view that rules-based accounting standards have allowed failure of large corporations like Enron and World Com‚ since US GAAP is perceived to
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as is Case 1-4 Generally Accepted Accounting Principles At the completion of the Darby Department Store audit‚ the president asks about the meaning of the phrase “in conformity with generally accepted accounting principles‚” which appears in your audit report on the management’s financial statements. He observes that the meaning of the phrase must include more than what he thinks of as “principles.” Required: a. Explain the meaning of the term accounting principles as used in the audit report
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Buckman 7/28/10 Using a Cash Budget for Planning Purposes Introduction Let me begin by explaining what a cash budget is. A cash budget is a tool that helps individuals and companies forecast a short term financing needs. Investopedia defines a cash budget as‚ “an estimation of the cash inflows and outflows for a business or individual for a specific period of time.” (Cash Budget) A cash budget is used to determine the borrower’s ability to generate cash and repay debt. A cash budget also provides
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