Any economics student knows that accounting is the process of recording, classifying, and summarizing financial transactions to provide helpful information for business decisions. To write a good paper on the subject, a student should have a strong understanding of the basic concepts.
It is also essential to be familiar with various treatments for different types of transactions. For instance, revenue recognition, inventory valuation, and depreciation methods significantly impact financial statements. Fortunately, multiple free samples on EssayBizLab can be used as study resources. Taking the time to examine accounting and understand the concepts involved makes it possible to write a good paper on the subject.
Introduction Transaction risk in internet banking is a common feature of electronic banking (e banking). Though there is no universal record of all transaction risks that have occurred in banks, it is estimated that, transaction risks increase by the year. For instance, in the years 2009 and 2010, transaction risks...
Introduction US Congress enacted the Sarbanes – Oxley Act of 2002 (SOX) on July 30, 2002, to ensure proper financial reporting and disclosure. The objective of passing this legislation was to rebuild the public trust in corporate business reporting, which was lost due to accounting and other frauds that happened...
Paper Name Executive equity compensation and incentives: A survey Author(s) Core, J.E., W. Guay and D.F. Larcker Source Economic Policy Review, pp 27-50 (2003) Research Question / Objectives Objective is to bring together the literature on equity compensation and executive incentives. In addition, this is to bring down the unsupported...
Introduction The value of auditing rests on two crucial requirements. First, the attestation needs to be competent. It needs to be undertaken by those with appropriate expertise and may involve the necessity of having a competent audit structure, technologies, and processes to undertake the audit. Second, it must be undertaken...
Introduction In contemporary business environments, there is an increased business combination through mergers and acquisitions; the combinations are necessitated by the hard economic environment experienced in the world or as effort to improve business. When a certain company is acquiring another, there is some consideration for the acquisition which must...
Introduction Introduction and Background of the Study Accounting is considered as a very important tool in operation of business in the current society. According to Mourra (2008, p. 82), a business unit cannot run without proper accounting documents in the current society. The need for accounting in organization (both for...
Introduction The history of construction in the United Arab Emirates (UAE) reveals that contractors and design teams put a significant emphasis on the establishment of buildings at the lowest initial capital costs. However, designers, contractors, and policymakers have gradually realised that it is highly unfavourable to determine the project choices...
Aunt Connie’s Cookies can use cost accounting in various ways. Costs are applied to each product based on the extent to which that product causes cost to be incurred. In their production process costs is applied to product using a single predetermined rate based on a single activity measure. Multiple...
Literature Review Companies have started opting for project finance rather than the corporate finance since the past few years. According to Inadomi (2010), project financing is an excellent mean of financing when it comes to avoidance of the record for the project debt on the balance sheet. Furthermore, it is,...
Introduction Although an accounting career can be very stressful, it is still interesting. This means that as much as it might be demanding (to an extent), it can still allow you to enjoy your job and career as an accountant. In this case, just like any other career, there are...
Abstract Convergence to the international accounting standards has been driven by the changes in the ways businesses are formed and the way they carry out their activities. Increased complexities in corporate frameworks, the flow of information, sharing of responsibilities all coupled with undue lust for profits by managers and higher...
Executive Summary This study aims to explore the connection between quality accounting education and high standards of accounting practice in Saudi Arabia. The goal is to find out whether accounting education plays any role in strengthening Saudi Arabia’s economy in line with the country’s Vision 2030. In 2012, Saudi Arabia...
Introduction Background Auditing offers an independent method to assess the effectiveness of a firm’s internal controls. Auditors generally evaluate financial statements and records of a firm and provide their qualified opinions on whether the records and financial information provided by management reflects the true and fair state of affairs of...
Background of the Toyota Motor Company Toyota Motor Company is one of the largest manufacturers of the automobile in the world. The main competitors of Toyota include the Ford Company, General Motors Company and the Honda Motor Company Ltd.he company has its headquarters in Toyota City, Japan (Hino, 2006, 271)....
Introduction Corporate fraud has become more sophisticated than compared to a decade ago and IRS investigation team has the analytical capability of ward through numerous computerized financial records and through complex paper filing. Now, IRS special investigation agents have investigative skills on computer data that facilitate them to recover financial...
The presence of information technology (IT) in accounting arena especially spread out due to the rapid organisational changes across business houses throughout the world. These organisations are rapidly shifting their value chain by incorporating IT. Accounting information system (AIS) is a part of the IT incorporation of the accounting world....
Introduction This memorandum gives guidelines on the accounting for costs that are associated with the production of frames for the Winnebago home. The technique that will be used to estimate the cost of the product is job order costing. Direct materials In this case, Freightliner needs to use job-order costing...
Introduction The analysis of financial documents, such as income statements or balance sheets, allows companies to measure performance. In addition, analysis can be useful in budgeting and strategic planning activities. Certain values represented in financial documents can be used to compare the company’s performance to some of its key competitors’,...
Financial ratios Profitability ratios Gross margin Gross Loss/net sales =(2059)/1362= 1.5117 Operating margin Operating income/ net sales = 306/1362= 0.2247 Profit margin Net profit/net sales = 1923/ 1362 = 1.4119 Return on equity (ROE) Net income/average shareholder equity = 719/39.79 = 18.07 Return on investment Net income /average total assets...
GAAP and IFRS Convergence Generally accepted accounting standards (GAAP) is a set of strict accounting rules that are applied in financial reporting. These standards define specific concepts, making such processes more transparent and stable (“About GAAP,” n.d.). Another set of accounting regulations is the International Financial Reporting Standards (IFRS). These...
Introduction to IAS The International Accounting Standards Board (IASB) is an international accounting standard defining body, which works independently for International Financial Reporting Standards (IFRS). It sets the International Accounting Standards (IAS), which provide a global, standard method of accounting and reporting in many countries. Since 2000 when globalization became...
Introduction Managerial and financial accounting are vital components of modern business but they both contribute to overall operations in different ways. Accounting serves the purpose of determining the operations of a business in regards to future projections, past performances, and current requirements. Managerial accounting has its links in cost management,...
The direct and indirect approach A cash flow statement is important in the organization because it shows the movement of cash. It outlines where a company receives money from and how the money is used. That is cash receipts and payments. The statement is divided into three distinct parts. Each...
Overview International standards are standards which are normally developed by international standards organizations. These standards are usually available to be considered and used worldwide. The most recognized organization for developing international standards is the international organization for standardization (ISO). ISO plays a major role in facilitating international trade and cooperation...
Introduction There are many users of business information who do not work for companies but are associated with them directly or indirectly. These users are considered as external users, and they do not have access to the financial information generated by different departments of a company. Therefore, they have to...
Executive Summary The current operational audit report is prepared to observe deficiencies noted during the audit of Subway restaurant. There are problems with safety, cleanness, food handling, and parking. The recommendations are also presented in the report that could help in bringing changes and improvements in various operations of the...
Introduction Management plays a significant role in the success and running businesses. Therefore, selecting the best approach to management is critical. It is worth noting that businesses operate in dynamic environments. As such, business leaders should incorporate the changes in the environment in the running of businesses to enhance success...
Globalization has massively affected firms in the current market. Firms are increasingly finding themselves operating in regions that are beyond the borders of their home countries. When doing business in countries other than the home country, it is important to determine when to comply with the host country’s tradition and...
