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Accountancy Essay Topics & Paper Examples

Chartered Accountancy

Chartered Accountancy as a profession is attracting a lot of young and witnessing a rapid growth, thanks to the growing corporate sector globally. Chartered Accountants usually occupy high and respectable posts in an organization. They are the ones responsible for handling accounts and finance related matters, deal with money management. Chartered Accountancy is also a dynamic, challenging and rewarding profession. Chartered Accountancy Course is a professional course in Accounting introduced in our country in 1949, with the enactment of the Chartered Accountants Act. The Institute of Chartered Accountants of India (ICAI) was formed the same year. This Institute is both an examining and a licensing body. It is the responsibility of the institute to conduct the Chartered Accountancy (CA) Course….

Accounting: a Retention Exam

Sophomores at the AMV-College of Accountancy no longer have to meet a “cut-off score” to be able to major in Accountancy, but a new “retention program” is set to be implemented. The requirement to obtain a grade of 2.75 in Accounting 2 has been abolished, but under the new retention policy, grades in Accounting 1 and 2 cannot be lower than 3.00. Students must also get a passing mark in retention exams to be retained in the Accountancy course. Students who get a grade of 2.00 or higher in the two subjects will be exempted from the examination, while those who fail will be transferred to the Management Accounting program. “Achieving a 96 percent rate [passing rate in the October…

Accounting: the Forensic Accounting Who Fought Whiet Collar Crime

Abstract The global increase in fraud has caused many people to lose trust in accountants. However, experts in the field of Forensic Accounting, such as Certified Fraud Examiners, are restoring ethics and trust by fighting to deter white-collar crimes. The most prevalent type of fraud encountered is occupational fraud. Under occupational fraud the most common and consequential schemes are asset misappropriation and fraudulent statements. Due to the rapid increase of occupational fraud, organizations have implemented anti-fraud controls. Statistics have shown that these controls have helped to decrease the likelihood of fraud. This examination of Forensic Accounting points out the importance of Certified Fraud Examiners in the economic, business, and financial fields within the International Community. Forensic Accounting: Fighting White Collar…

CPA vs. Non-CPA

Many people may ask, “What are the differences between being a CPA and just being a non-certified CPA,” there are actually a lot of differences between the two. A CPA or Certified Public Accountant is someone who has a license to practice public accounting that is issued by their State Board of Accountancy. CPA’s, in contrast, have normally studied or majored in accounting during college, sat for the CPA exam, worked in an accounting firm for at least two years, and completed 500 hours of auditing work in order to earn their certification. CPA’s are also required to complete a certain number of continuing education hours in order to keep their CPA license. A CPA can complete all three types…

Accounting and Bookkeeping Services Marketing Plan

Marketing Vision Sorcerer’s Accountant will fit the needs of transitional small businesses, dealing with the growing pains of leaving an owner-operator model to hiring employees and expanding. These clients will see that Sorcerer’s Accountant is competitively priced, both compared with the market and with the substitute option of hiring their own bookkeepers. Clients will see that Sorcerer’s Accountant is extremely flexible and scalable in a way that in-house bookkeepers cannot be. To move forward with this new business line, Sorcerer’s Accountant will make the bookkeeping services the core of its business and a source of leads for its additional accounting services, rather than the other way around. Over time, as this transition happens, the marketing plan will be revisited to…

Career Path for Acounting

It is always so hard to give the exact number of people who have majored in accounting, but one thing that I know is that the demography is very wide and large. This is because they have different reasons for majoring in this career path. The most common reason to all people is because accounting is a marketable career and they merely want to find a job. The number of people majoring in this field is growing immensely and the most important thing is to consider the main reason of joining this profession. Some people will claim that when they were in high school, this was their best subject and they loved it and so they will need to major…

CA vs CS: Which career has more scope?

Often mistaken for the same, a chartered accountant is as different from a company secretary as chalk is from cheese. Chartered Accountants work in all fields of business and finance. Some are engaged in public practice, others work in the private sector and some are also employed by government bodies. On the other hand, the main function of a Company Secretary is to act as the mediator between the company and its Board of Directors. He also provides guidance to the Chairman and the Directors on how to make the best use of their responsibilities under various laws. Let us see the difference between a chartered accountant (CA) and Company Secretariat (CS) so that it helps you to make a…

Retention Policy

Accountancy maybe one of the most difficult courses offered to all students nowadays. It needs a great skill of analyzation and courage to stay in the program. It is also one of the demanded jobs that’s why many incoming freshmen take BSA program. It all started more than 7000 years ago when the earliest accounting records was found in ancient Babylon, Assyria, Sumeria. Then in 1494, Luca Pacioli described the system double entry bookkeeping in his Summa de Arithmeca, Geometria, ProportionietProportionalita that was used by Venetian merchants. He was the first person describe the system debits and credits use in journals and ledgers today. Accountancy course is offered by almost all schools here in the Philippines. In the University of…

History of Accounting

The name that looms largest in early accounting history is Luca Pacioli, who in 1494 first described the system of double-entry bookkeeping used by Venetian merchants in his Summa de Arithmetica, Geometria, Proportioni et Proportionalita. Of course, businesses and governments had been recording business information long before the Venetians. But it was Pacioli who was the first to describe the system of debits and credits in journals and ledgers that is still the basis of today’s accounting systems. The industrial revolution spurred the need for more advanced cost accounting systems, and the development of corporations created much larger classes of external capital providers – shareownersand bondholders – who were not part of the firm’s management but had a vital interest…

Ethics – Accountant

?List 3 lessons about ethics from this article. 1. The first one is the most powerful lesson learned from practicing ethical conduct during Boisjoly’s 27-year engineering career in the aerospace industry, is that them, as individuals, become the result-ant sum of each ethical confrontational event as experienced from the beginning of their careers. 2. The second lesson is what he learned was to never delay informing superiors of bad news so he could protect his integrity with peers. 3. The third lesson is the continuous lesson learned from these personal experiences, is that the good guys can win. Even though we lose, we also have an influence in the outcome of the war. Which of the lessons listed above are…

The Role of Forensic Accountants

PROBLEM STATEMENT In recent times, the world has witnessed the failure of large corporate organizations which has been attributed to large scale fraud by Directors in connivance with auditors. There is the case of Enro in the U.S, Parmalat in Italy and many cases in the U.K such as Polly Peek, Maxwell communications and BCCI. This development brought about in its wake the lack of public confidence in audit reports and auditing. By this many stakeholders seek redress in the court of law. In the court of law, the service of an expert witness is required in order to ascertain the true state of affair of the troubled enterprise. PURPOSE OF STUDY To examine a forensic Accountant as an expert…

Revenue Recognition

The issue of revenue recognition practices is an area that has received a lot of attention from regulators. Whenever there is a report of financial restatements or negative earnings, regulators pay extra attention to review the financial statements in order to verify that that there are not any indications of financial fraud or that the organization overstepped their boundaries in the area of managed earnings. The reason that regulators have taken a special interest in financial accounting and potential fraud is due to the collapses of companies such as Enron, WorldCom and Tyco. Regulators and those in the accounting profession are focusing their efforts on the causes of fraud as well as the steps that can be taken to effectively…

Becoming a Business Accountant

Business Accountant help to ensure that the country’s firms are run efficiently, its taxes are paid on time and its public records stay accurate. Accountants offer a wide variety of business and accounting services. Some of these services are: public, management and government accounting. Their main tasks are preparing, analyzing, and verifying financial documents in order to provide information to clients. Many accountants are required to have a lot of skill and knowledge. Most accountant work in an office, however those that are self-employed may be able to do part of their work at home. Accountants who are employed by public accounting firms and government agencies sometime have to travel often to perform audit at branches of their firm, clients’…

When Choosing a Career Path

The first step that students can use to choose the career that is right for them is to take a career test. One of the most popular of these tests is known as the Holland Scale. It has six different category areas that students are attracted to such as investigative, social, or artistic. Based on these different areas, students can explore careers based on their interests (Joanna Saison). Evaluate Strengths and Skills When a student has figured out the general idea of his or her career path, the next step in the process is for them to evaluate and find out what their strengths and skills are. These are known as transferable skills (Joanna Saison)[1]. Examples of some of these…

Evaluating Business Communication

This paper includes the perception of four communiqués. This type of perception is a description of whether these reports are accurate, ethical, and in the correct format. This paper gives a description of the form of leadership and the accuracy of the reports in this type of leadership. When writing a business communiqué an individual has to consider several variables. The purpose, audience, and leadership type of the company has to be considered when reporting on a decision. This paper includes the review of the four communiqués and shows decisions on reports where or not they were accurate, and correct in the reporting styles used. Below is the breakdown of this opinion on the reports. In this paper, there are…

Conceptual Framework

A conceptual framework of accounting can be considered to be a normative theory of accounting. A conceptual framework makes prescriptions in regards to what the objectives of accounting are, what qualitative characteristics general-purpose financial information should possess, how the elements of accounting should be defined and when they should be recognised and how the elements of accounting should be measured. The view often promoted by various advocates of conceptual framework projects is that it is difficult and perhaps illogical to develop systems of financial accounting if we do not initially agree on important issues such as what general purpose financial reporting is, what the objective of a general purpose financial reporting system is and in relation to this, what the…

Rules of Professional Conduct

The governing of the behavior of Certified Public Accountants (CPA) is done by the American Institute of Certified Public Accountant (AICPA). The largest professional association for the CPAs is the AICPA. The purpose of the AICPA is to equip CPAs to fulfill their duties to the public sector. Five Sections of the AICPA Rules of Professional Conduct There are five sections to the AICPA Rules of Professional Conduct: Independence, Integrity, and Objectivity, General Standards Accounting Principles, Responsibilities to Clients, Responsibilities to Colleagues, and Other Responsibilities and Practices. Each section, except for Responsibilities to Colleagues, has rules for an accountant to follow. Some of the rules are flat out rules with no exception, but some of the rules can be interpreted…

Personal Statement Accounting and Finance

With the character of composure, steadiness and fortitude, I never give up. During middle school, I wasn’t deeply attracted to accountancy until having read the book _Corporate Finance_ written by Stephen A. Ross. It brought me to a completely new world with many different ways and modes of thinking, making me feel wonders of the major’s macro-function and micro-details. Consequently, my damnedest and savvy sent me to the commercial college of Renmin University of China in which my specialized field was accountancy. Three years of professional study has inspired my strong and unique sense of accounting, not to mention how prudential and careful I am in pursuing my bachelor degree. The enormous pressure in this first-class campus with fierce competition…

Factors Affecting

This paper examines the factors affecting students’ career choice of accounting in Nigerian university. The study was conducted using the survey with a sampling population of 300 undergraduates from three universities. It has been discovered that the factors affecting students’ career choice of accounting are numerous but they can be group into personal, reference and job factors. The findings indicate that personal and job factors such as students’ interest and motivation in the subject, job prospects and high pay, performance in secondary school are the most influencing factors of students’ choice of accounting. In particular, male students were found to be more influenced by the reference factors than their female counterparts in the choice of accounting. The paper recommends the…

Full Disclosure

Accounting is an information system that identifies, records, and communicates the economic events of an organization to interested users” (Kieso, Weygandt, and Warfield, 2007). Information that is relevant and important to users should be disclosed; unfortunately, some information cannot be quantified through financial data. Certain data cannot be included in the organization’s financial statements. The full disclosure principle explains how companies handle situations that cannot be explained in numerical terms but should be disclosed to the investing public. This paper will explain what is the full disclosure principle in accounting and why has disclosure increased substantially in the last 10 years. This paper will also address why full disclosure is needed and what possible consequences may occur if companies do…

Rules-based and principles-based accounting standards

(A) Rules-based accounting standard Rule-based systems are fairly simplistic, consisting of little more than a set of if-then statements, but provide the basis for so-called “expert systems” which are widely used in many fields. The concept of an expert system is this: the knowledge of an expert is encoded into the rule set. When exposed to the same data, the expert system AI will perform in a similar manner to the expert. Rule-based systems are a relatively simple model that can be adapted to any number of problems, rule-based systems are really only feasible for problems for which any and all knowledge in the problem area can be written in the form of if-then rules and for which this problem…

Accounting as a discipline has no theory

Accounting is concerned with the collection, analysis and communication of economic information, which can be used to make decisions and plans about business by various users. The Committee On Terminology of the American Institute of Certified Pubic Accountants defined accounting as follows: “Accounting is the art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and events which are, in past at least, of a financial character and interpreting the results thereof”. (Ahmeo Riahi-Belkaou, page 32) Accounting is said to be a language used to communicate information to people. Accounting is also an intellectual discipline and a profession. Moreover, accounting is socially constructed and practiced by people for people, which influence workings and relationships…

Accounting As A Career

As the decision of where I will attend college next year quickly approached, I decided to investigate the major I have chosen, Accounting. Because my goal is to become a Certified Public Accountant (CPA), I would like to know more of what it entails. Dealing with numbers, and recording and projecting the earnings of a company, accountants are placed with the responsibility of keeping track of the moneys of a business. God has blessed me with skills in the areas of mathematics and organization, which caused me to look for an occupation that utilizes both. Accounting seemed a logical choice since they largely work with numbers and organize their clients’ money. In order to become a CPA, one must receive…

Becoming A Certified Public Accountant

A music star, an actor, a firefighter, doctor, or even President of the United States, vocations most children dream of. I was one of the “other” children who had dreams of jobs that weren’t as glamorous. One day we’ll see the “other” children excel as president of a Fortune 500 company, or in my case, managing the company’s finances, which really seems to serve as the basis for any business. In the following paragraphs, I will discuss several reasons and statistics, which I feel prompted the want for me to attain the extent of my aspiration to become a Certified Public Accountant. Accounting is classified as the bookkeeping methods involved in making a financial record of business transaction and in…

What Factors Drive Change in

WHAT FACTORS DRIVE CHANGE IN MANAGEMENT ACCOUNTING IN MALAYSIAN ORGANISATIONS? Suzana Sulaiman Aliza Ramli Accounting Research Institute & Faculty of Accountancy Universiti Teknologi MARA, Malaysia Falconer Mitchell University of Edinburgh, UK Abstract Without knowledge of how the management accounting (MA) discipline changes, its development cannot be properly understood. Prior research indicates that MA has been changing and that many factors are implicated in its change. This study explores the factors which cause management accounting change in Malaysia. MA change is taken to encompass not only MA per se but also its composition as represented by the techniques, skills and roles of the management accountant. These are investigated by surveying experienced, professionally qualified management accountants working in Malaysian organisations. A range…

Integrate Accounting Cycle Final Report and Presentation

Write a 1,400- to 1,750-word final report on your selected step of the accounting cycle. Include revised versions of your previous Learning Team assignments. • Describe how you would apply the systems development life cycle to your proposed system. Include an explanation of how the participants in the accounting function at your organization will contribute to the development of the system requirements. • Analyzehow your proposed changes will improve the measuring and controlling of operational performance. • Create an 8- to 10-slide Microsoft® PowerPoint® presentation with speaker notes illustrating your Integrated Accounting Cycle Final Report. • Format your report and presentation consistent with APA guidelines.

Analysis of Current Accounting System

1. Terms of reference 1.1.1 This report has been prepared to cover the requirements of the learning and assessment area Principles of Internal Control and Evaluating Accounting Systems at Level 4 of the Association of Accounting Technicians (AAT) Diploma in Accounting qualification. 1.1.2 This report forms an evaluation of the Accounting System of the Inkwell Limited. 1.1.3 The main purpose of the report is: To evaluate the accounting system and procedures that are currently in place at IWL To identify weaknesses within the system, suggest possible improvements and make recommendations for improvement. To analyse cost benefit for suggested improvements. 2. Executive summary 3. Methodology 3.1.1 This report has been prepared using information provided by AAT case study text and study…

Financial Accounting Standards Boards’ Codification

For my role as a staff accountant, I was assigned to research the appropriate accounting for revenue treatment of construction contracts for a client, LabCo. In specific, I was assigned to oversee LabCos’ contract involving a six-axis laser-cutting machine with Halibut Co. After researching and developing a theory based on the Financial Accounting Standards Boards’ Codification, I have concluded that LabCos’ treatment of revenue was reasonable; however, they should have changed revenue recognition principles sooner. In this situation, there are three possible ways they can handle changing their accounting method: Retrospective Application, Change in Accounting Estimate Method, or Change in Estimate Affected by Accounting Principle. The revenue treatment principle for a construction type principle states, “In accounting for contracts, the…

Unit 9 Final Project. Different methods of bookkeeping.

There are several different methods of bookkeeping. There are single entry, double entry, and online bookkeeping. Single entry bookkeeping is simple and not to complicated because everything is entered into a single column. Its almost like your checkbook register. This type of system is best for small businesses, and you can add more columns if needed. Disadvantages of this system is that financial information cant be included into the spreadsheet. Mistakes and errors can be only identified threw bank statement reconciliation. Double entry bookkeeping serves for large businesses that have lots of assets, several transactions and external suppliers of capital. Two entries are made for each transaction. Debit account and credit account. It will have the date, account, debit and…

Accounting Personal Statement

The way I think of Accounting is that it is a fundamental part of our way of life. This is because I believe that every person in the world uses the principle of Accounting at least once in their lives. It can be things that they do in their daily life, for example, checking how much money they have with them, or how much they have spent; or they use it in businesses and large-scale transactions where it is commonly known. My main ambition for the future is to become a Chartered Accountant. I am hoping university will provide me with an understanding of the business world as well as offering me a wide range of choices and connections after…