Accounting Essay Topics

Role of the IASB

The International accounting standards board (IASB) aims to develop a set of high quality standards that are both enforceable and understandable that would aid participant in several capital markets all over the globe to make wise decisions economically. The Financial Accounting Standards Board (FASB) provides the generally accepted accounting principles (GAAP) that are utilized by… View Article

Accomplished Senior Level Accountant Resume

SENIOR ACCOUNTANT / AUDITOR Accomplished Senior Level Accountant with exceptional analytical skills and in-depth knowledge of internal controls concepts.  Expertise in conducting operational and financial audits and identifies and implements business process improvements.  Effectively writes recommendations to strengthen internal controls resulting in improved operational efficiencies.  Excellent communication skills. Fluent in English & Chinese                 CORE… View Article

Managerial Accounting In Business

Managerial Accounting is known as the tongue of business. Formalization of data and numbers in such a manner so as to help to arrive at decision making and financial planning is the main object of accounting process. While book keeping is mainly concerned with organizing and keeping records, i.e. books of accounts but managerial accounting… View Article

Accounting Standards

INTRODUCTION Accounting Standards are employed to build the application of accounting practice. The actual financial position of the company can not be presented accurately and precisely with adhering to the principles and standards. Due the evolution of time, the concept has changed to suit the needs of the industry and is also continuously to changing… View Article

Evaluation of Literature Reviews of Three Articles

A literature review is a report of information published earlier from books, journals, newspapers, or any reliable articles that show relevance and significance to the research study being conducted. It is not just a summary of knowledge and scholarly opinions on a specific topic by scholars and academic researchers, but it is also a critical … View Article

Intermediate Accounting

Nicholas Inc. is in need of a new punch press to increase its production output. Their company policy is to have the purchasing department obtain 3 different vendor bids for any major purchases. The engineering department of Nicholas Inc. has determined that each of the three vendor’s punch presses is substantially identical and each has… View Article

The role of management accountant

The eurotunnel, the company that has been experiencing financial problems was recently suspended from the London stock exchange after failing to meet the deadline for filing the account. They have been experiencing financial problems and it almost a year ago when they wrote off three billion sterling pounds. This company was involved in the construction… View Article

The Role of Audit Committee

Audit committee play an important role in ensuring organization is properly run. The committees are used as a check to management of organization in compliance of various set regulations. Worldwide audit committees have specific roles. There are a few differences between role of auditors in the US and other countries. In assignment am going to… View Article

The Shipping Industry Accounting Team

For the past five years I have been working at McKay, Sanderson, and Smith Associates, a mid-sized accounting firm in Boston that specializes in commercial accounting and audits. My particular specialty in accounting practices for shipping companies, ranging from small fishing fleets to a couple of the big firms with ships along the East Coast…. View Article

Payroll Accounting Cycle

The Payroll Accounting Cycle or Payroll Cycle is basically a process for recording time and attendance and converting that data into payroll calculations and payroll disbursements (Robertson, 2003). This cycle covers all activities related to payroll from hiring and firing to pay distribution. The payroll cycle has four basic stages; recruitment, which covers the identification… View Article

Overview of Accounting

The audiences of financial statements and managerial reports include the shareholders, employees, prospective employees, customers, suppliers, the government, the stock exchanges, investors, lenders and the public at large. What is important is that each audience has a different perspective in reading the financial statements and managerial reports. For example, a lender would like to know… View Article

Foundational Accounting Principles and Terminology

We all know how important the accounting aspect of any business/organization is. It is basically the most important way to manage finances. Without proper accounting for all expenses and finances, a company and/or organization will definitely have a hard time being financially stable. In this paper we will discuss some foundational accounting principles and terminology… View Article

The Big Decision

An accountant is expected to be both an accountant and a professional. An accountant should follow general professional obligations. After the incidents involving Arthur Anderson, Enron, and WorldCom, the role of a professional accountant was changed. Brooks (2007) stated, “Professional accountants owe their primary loyalty to the public interest, not just to their own financial… View Article

Accounting: Prudence Concept

Prudence concept: revenue and profits are included in the balance sheet only when they are realized(or there is reasonable ‘certainty’ of realizing them) butliabilities are included when there is a reasonable ‘possibility’ of incurring them. Also called conservation concept. Du Pont analysis A type of analysis that examines a company’s Return on Equity (ROE) by… View Article

Internship Report of Accounting

1. Introduction During April 12th and April 30th, I served as an intern for ZhiqinCertified Public Accountants CO., LTD. Foshan City, ZhiqinCertified Public Accountants Co., Ltd. is officially registered, a certified public accountant firm, in 1990, a period approved by Guangdong Provincial Department of Finance was established in 2000 began operating a limited company, a… View Article

Accounting Made

Managerial Accounting refers to the accumulation and preparation of financial reports for internal users only (e. g. management). Managerial Accounting includes all manipulations of financial information for use by managers in performing their specified organizational functions and additionally in ensuring the proper used and handling of an entity’s resources. “It is the internal business building… View Article

Ethical Issues on Accounting

Society is composed of many institutions that have various purpose and position. These institutions may sometime have contradicting goals. Money is something people work hard for making it such a sensitive issue. Disputes regarding money are often entangled in heavy disputes and are hard to settle. The accounting is the field that specializes in the… View Article

Process Proposal

The process that is being analyzed is the payroll process at a firm. The process can be viewed as a series of steps done on a daily basis and then at month end when salaries are to be distributed. Their process flow along with diagrams is given below. Daily: The work of the system starts… View Article

Explaining Basic Accounting Concepts and Business Structures

Explaining Basic Accounting Concepts and Business Structures I will explain the basic accounting concepts and business structures from the following topics: GAAP sources and hierarchy; Good accounting information using the qualities of accounting principles; Difference between Accrual based accounting and cash basis of accounting; Types of business structures and the features of each structure. 1…. View Article

Public trust in the Accounting Profession

Restoring of the public’s confidence in the accounting profession is of paramount importance and rightly so. This profession has suffered major drawbacks in the level of trust and confidence the public holds in its work because of major international corporate collapses. The accounting profession is a profession like no other, and one of the most… View Article

Accounting Principles and Health Care

There are no formal accounting principles that apply to health care. However, there are five generally accepted guiding principles used in the management of the financial aspects of health care management (Cleverly, Song & Cleverly, 2011). Understanding the five guiding principles are important in understanding financial information and managerial accounting and how the principles relate… View Article

Accounting

Accounting is often referred to as the language of business, and rightly so, since it is the means by which information about an entity is communicated (Meigs, 2000). Contrary to popular belief, accounting is more than just doing taxes, or keeping books. Doing taxes is just one of the many tasks an accountant performs. Bookkeeping,… View Article

Managerial Accounting

Accountants and auditors help to ensure that firms are run efficiently, public records kept accurately, and taxes paid properly and on time. They analyze and communicate financial information for various entities such as companies, individual clients, and Federal, State, and local governments. Beyond carrying out the fundamental tasks of the occupation— providing information to clients… View Article

Career Investigation

My ideal career is in accounting. I have determined that this field is best suited for me through career assessment tests, learning styles assessments and by actually working in this field for several years. I have been interested in accounting since taking my first accounting class in high school. It was then that I found… View Article

Current and Noncurrent

When an individual starts a business understanding financial statements are vital to tracking the company profits and losses. The company decisions are often decided by the figures and statistics. The figures are recorded and compared at a later date. Accounting knowledge is the core of the business and every aspect of a growing company depends… View Article

Brandywine Homecare

1. Construct a Brandywine’s Income Statement. This income statement summarizes the company’s performance during 2007. It reflects how much money the company brought in as revenues, how much spent on expenses, and the difference between the two is the net income profit. All figures above are in terms of millions. Excel rounded the depreciation value which… View Article

The Nine Steps of Accounting Cycle Checkpoint

Step 1 in the accounting process is to analyze the transactions. This would include revenue, expenses, etc., anything that the company received or paid during the time period. Step 2 is to journalize these transactions. To take the information and correctly post each transaction with a debit and credit line item. Step 3 is to… View Article

Financial Accounting Standards Board

The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) are two of the most important bodies of the Accounting/Finance field today. Though both boards work together to develop and enforce financial reporting standards for publicly held organizations, the FASB concentrates on the accounting standards in the United States while the IASB… View Article

Accounting Records Required

The general rule of the Companies Act of the Section 167(1) state that every company and the directors and managers thereof shall cause to be kept such accounting and other records as will sufficiently explain the transactions and financial position of the company and enable true and fair profit and loss accounts and balance sheets… View Article

Accounting

a). The CEO is mainly concerned with reporting the highest amount of income possible. Thus the CEO will be pleased if the company uses the FIFO method. This method recognizes as cost of goods sold the oldest costs, and because prices are rising, the costs charged to cost of goods sold will be less than… View Article