Accounting Essays

In Metro Manila, a research was conducted to identify the preferred review school and the qualities future reviewees look for in a review center. The study surveyed over 500 graduating accountancy students from six universities and its findings are discussed in this paper. The main purpose of the study was twofold: firstly, to assist review […]

Introduction Auditing is a subset of attestation, which is a subset of assurance. These services, which are governed by several organizations, are unique in their own way. Because of the constantly changing role of the auditor, particularly since the Sarbanes-Oxley Act of 2002, different types of services have become necessary. In this paper we will […]

Audit risk is the risk associated with conducting an audit, which refers to the possibility of the auditor experiencing a loss due to providing an inappropriate audit opinion. Such a loss can be in terms of the auditor’s reputation or monetary compensation for damages to the client or a third party, or both. This can […]

During the Progressive Era (1880-1940), advertisers and auditors encountered challenges regarding the accuracy of their text. Advertisers in North America embraced the notion of “truth in advertising,” while auditors disapproved of labeling financial statements as “true and fair.” Instead, auditors preferred financial statements that adhered to accepted accounting principles. Interestingly, auditors made more advancements towards […]

Revenue is probably the most important part of the government and most of its plans and policies also depend on the amount of revenue collected. Government has also given priority in reducing the budget deficit through the mobilization of internal resources. Good tax system, apart from generating revenue, minimizes distortion of resource allocation and simplifies […]

The main critical issue in the Crazy Eddie case is the incompetence and lack of professional skepticism of the company’s audit team and their inability to successfully comply with the standards of GAAS. The auditors failed to exercise the fundamentals of the substantive audit plan which would have uncovered at least some of the fraud. […]

Yes, it matters that Friehling didn’t do any audit work. It matters because he signed off on financial statements verifying that he had. He played a great part in Madoff’s misconduct by falsely representing to investors that Madoff’s company was financially sound when in fact he hadn’t done a single audit. It without a doubt […]

Methods of Auditing at Kudler Kudler Fine Foods has grown its operations and upgraded its computer networks to adapt to increasing demands. As the organization embraces IT solutions, the automation control procedures are becoming more virtual. To guarantee the smooth operation of Kudler’s computerized systems, an annual audit is necessary. The administrators at Kudler Fine […]

“What is Wevenue? And how does it relate to Managerial Accounting?” This article summarizes the consequences of unethical accounting practices that can attract attention to both a company and its accounting firm. The case study focuses on California Micro Devices Corp, also known as Cal Micro, a chip manufacturer that made the controversial decision to […]

Soup Restaurant Group Limited has been chosen to be our case study. Soup Restaurant Group Limited was listed in 2007. This company was incorporated during the early 1990s, as a private limited company. The company’s business can be divided into 2 key brands and business units: “Dian Xiao Er” and “Soup Restaurant”. Overall, the objective […]

Academic Paper I. Interniship Description A. ABOUT THE COMPANY Reyes Tacandong and Company (RT&Co. ) is a new player on the Filipino audit and advisory services market. It was created end of June 2010 by 9 partners formerly from SGV / EY, the leader of the market in the Philippines. Reyes Tacandong and Company is specialized in […]

In this paper the Sarbanes Oxley Act with particular reference to the section 404 is discussed in detail. We shall start the paper with providing background information to the Sarbanes Oxley Act, 2002. This section explores the environment that spurred the creation of the act and the need for such legislation. The second section provides […]

Auditing is a subset of attestation, which is a subset of assurance. These services, which are governed by several organizations, are unique in their own way. Because of the constantly changing role of the auditor, particularly since the Sarbanes-Oxley Act of 2002, different types of services have become necessary. In this paper we will compare […]

GAS are divided into three categories such as the general standards, the standards of fieldwork and standards f reporting. Auditors can render reports of the financial statements audited In four ways. The report render can either be qualified opinion, unqualified opinion, adverse pollen and disclaimer of opinion. Auditors who considered the report to be free […]

Audit practices are changing in response to increased demands for accountability and the complexities of economic and technological advancements in organizations. A significant recent development is the challenge of globalization and the need for harmonized financial reporting to facilitate efficient global fund allocation. Harmonization applies to both financial reporting standards and the credibility of the […]

KPMG (2006, pp. 11) reports that over 100 countries worldwide have adopted International Financial Reporting Standards (IFRS) or equivalents, including all EU nations and major Asian ones like Hong Kong and Singapore who have fully embraced IFRS. Australia has also demonstrated its dedication to uniformity and high-quality financial reporting through the adoption of the Australian […]

“The theories we use to understand standard-setting in national contexts, like Australia, are not as effective when applied to the international level, where the International Accounting Standards Board (IASB) holds prominence. We need to adapt or expand our theoretical framework in order to address this disparity.” Analyze the statement above, explicitly expressing your agreement or […]

Introduction to International Accounting Standards: Accounting serves as a way to present the financial information of an organization, by consolidating all its transactions and providing a transparent view of the business. Recording all financial reports is crucial for managers, shareholders, creditors and owners. Despite every country having its own regulations, they follow their respective accounting […]

Many years ago stock options were rarely used as incidental benefits for top executives. Nowadays, compensating employee whit stock options has become an increasingly common practice. Before the year 1996, only the intrinsic value method was used to record these transactions. This method distorted the issuer’s reported financial condition and results of operations, which could […]

This project aims to fulfill partial requirements for a Bachelor of Science degree in Applied Accounting from Oxford Brookes University, UK. The topic selected is “An Evaluation of the Business and Financial Performance of J Sainsbury plc for the year ended 24 March 2006 – 22 March 2008”. Its objective is to enhance professional ability […]

‘ASB vs FASB International Accounting Standards Board is a board is an independent board that is up of international members who set the standards for international companies. There are 15 members out of nine countries who use due process to decide what the standard for international accounting processes is. The ISAB deals with worldwide standards […]

In the United States, the Financial Accounting Standards Board (FASB) has been the organization that establishes standards that govern the preparation of financial statements, known as the United States Generally Accepted Accounting Principals (US GAAP). Many countries have established their own national accounting standards as well; however, as international business and trade increases, so does […]