Accounting Essays

Where do you see Benihana has the most advantage? And what allows it to achieve such advantages? Areas of advantage for Benihana (BH) include: Food and beverage costs – Savings on food costs are facilitated by the limited menu that BH offers, which reduces required inventory and inventory perishing (waste). The limited menu also reduces […]

ENRON’s ACCOUNTING SCANDAL INTRODUCTION: ENRON traces its roots back to Northern Natural Gas Company, which was founded in 1930. In 1979, Inter North Inc. acquired Northern Natural Gas Company and implemented new management. The 1980s saw the US Congress passing deregulation laws for natural gas sales, followed by similar legislation for electricity sales in the […]

What makes a large organization look like Wal-Mart financially successful? One could say it is the result of outstanding personnel or perhaps a strong determination to succeed. These factors certainly contribute. However the key to financial success in organizations lies in good accounting. Since early civilization began, accounting has been an important part of our […]

The main reason for investment income being lower than the reported income of the investee is the amortization of a differential. If Turner Company has paid more for shares of Straight Lace Company than their book value, the differential must be allocated to the assets and liabilities of the investee or to goodwill. The portions […]

Accounting Department Memorandum To: Executive Vice President From: Yvonne Dixon and Teammates Subject: Last In/First Out (LIFO) versus First In/First Out (FIFO) Date: February 13, 2012 Dear Executive Vice President, Our team recently had a meeting to discuss the LIFO and FIFO methods of inventory for the Cost of Goods Sold (COGS), addressing our company’s […]

Summary We at ALMS Consulting Co. have been hired to analyze the way product lines and product managers are being evaluated at the Thomas J. Lipton, Incorporated (Lipton or the Company) entity. We will review the performance metrics utilized at the corporate level of Lipton, explain the current methodology utilized to evaluate the individual product […]

Executive Summary The detailed analysis of Lipton’s current Economic Profit model has led to immediate changes in the recording of profit on the Product Line level. The proposed changes to the current Economic Profit model include leaving the Working Capital Cost and CRV Depreciation Adjustment in the profit analysis. The proposed changes aim to eliminate […]

Classifying Accounting Items  Current asset  Net revenue in the income statement: a deduction from revenue  Net accounts receivable, a current asset: a deduction from gross receivables  An expense in the income statement. But R&D is usually not a loss to shareholders; it is an investment in an asset. An expense in the income statement, part […]

AOL ASSIGNMENT There were two accounting policies used by AOL that were considered aggressive, as well as controversial. The first was to amortize its software development costs and the second was to capitalize subscriber acquisition costs. The lifetime, for amortization purposes, which AOL assigned to software development costs was five years. This was considered by […]

Application Case: “Apple Inc – Failing and Succeeding” How would you classify each of Apple’s two decisions programmed or nonprogrammed? Explain your answer. The decision regarding Apple’s choice to not license their operating system and software to other computer companies was a non-programmed decision because the decision was made solely on the fact they were […]

The concern of this project paper is to explore the differences between Islamic accounting and its conventional counterpart. The distinctions need to be addressed as both accounting is presently thought of by many people as synonymous. There is a danger for such kind of perception because the basic building blocks for respective accounting are worlds […]

Background and Issues Detroit Plant, serves as the first plant of HEED division within Written Group, which almost all division products could trace their roots from, cannot achieve an acceptable level of profitability for years even we raise the prices or cut wages. The morale of Detroit is poor and it has been plagued by […]

Explain the criteria and elements for formulating criterion-directed behavioral outcomes (Meager) as explained in the study guide. Behavioral (criterion-directed) outcomes are specific. They indicate what learners must be able to do, and give direction to the teacher’s planning, and continuous evaluation. Thus it is a matter of observable and sharable behavior. When formulated in detail, […]

Keywords: Xerox, financial fraud, SEC, auditing procedures Financial Research – The Xerox Financial Research Xerox Financial Fraud Case Analysis 3 Introduction of Xerox Xerox Corporation is a global document management company which manufactures and sells a range of color and black-and-white printers, multifunction systems, photo copiers, digital production printing presses, and related consulting services and […]

I certify that I have neither given nor received assistance on this exam, in accordance with the University of Cincinnati Student Code of Conduct. Signature: Instructions: Circle your answers for the multiple choice questions on the exam. Fill out the cantors sheet carefully, using a #2 pencil. Your name (last, then first) and M number […]

Issues With Revenue Recognition within the Software Industry The Isoft Example Financial Controller-SoftWarehouse Ltd This report has been prepared for the Board of Directors of SoftWarehouse Ltd for elucidation about the contentious issues that have given rise to the publication of the article concerning Isoft’s issues with revenue recognition. Finally, it will also assess whether […]

The study of auditing is more conceptual in nature compared to other accounting courses. Rather than focusing on learning the rules, techniques, and computations required to prepare financial statements, auditing emphasises learning a framework of analytical and logical skills to evaluate the relevance and reliability of the systems and processes responsible for financial information, as […]

The significance of ethics and compliance in Wal-Mart’s organization and its impact on the financial environment will be explored in this article. Wal-Mart, which began as a single store in 1962, now operates over 3,600 stores in the US and internationally across 15 markets. The article will examine the steps taken by the company to […]

The primary users of financial accounting are external users such as shareholders, investors, creditors, lenders, and the government. Shareholders utilize financial information to track their investments, assess organizational profitability, and determine the value of the organization. Investors rely on financial information to guide their investment decisions and evaluate past organizational performance to decide whether to […]

When assigning an audit, various factors need to be taken into account. These factors include the size of the company being audited, which determines the number of staff required. For a private limited company (Sdn. Bhd.), 2 or 3 staff are needed, while for a Public Listed Company, 3 or 4 staff are required. In […]

Part A: Summary & Referencing Exercise Due to the implications for related research in areas of accounting and finance, the time series behavior of earnings is important for empirical studies (Beaver 1970). Beaver (1970: pp. 62) discussed issues such as income smoothing, the relative forecast ability of different income measurements, and interim reporting. These studies […]

Introduction AASB 117 Leases mandates lessees to categorize leases as either finance leases or operating leases. The accounting treatment differs significantly under each approach, leading to concerns from investors and other users of financial statements about the usefulness of the provided information. This essay will systematically evaluate the criticisms and usefulness of lease accounting treatment. […]