Accounting Essays

St. James Clothiers Evaluation of Manual and IT-Based Sales Accounting System Risks Copy Right: Anthony Butka Ralph Avallone Hong-Ming Yen Executive Summary Case Synopsis We meet Sally St. James of St. James Clothiers who has a retail clothing store in Tennesse. Sally has decided to abandon her manual sales entry system and convert to a […]

Student Success Academy (SSA) is a charter school in Hawaii, with three campuses situated on the islands of Oahu, Kauai, and Maui. Virtual programs across the state require the reporting of Research and Development costs in accordance with Current Generally Accepted Accounting Standards (GAAP). The aim of this research is to establish the link between […]

Globalization and sophisticated industrialization have been the order of the day in recent decades. These changes in the production, marketing and servicing sectors have been positive in most countries all over the world. Countries that were once deemed as poor or having hosting or strong regimes have transformed into super powers in terms of competitiveness […]

Managerial accounting involves providing managers with information to support decision-making and other operational activities within an organization. In contrast, financial accounting involves presenting information in the form of financial statements to external parties such as creditors, banks, government agencies, and stockholders. The general principles of managerial and financial accounting are the foundational laws and concepts […]

The Financial Accounting Standards Board (FASB), a professional group in the US, sets and communicates financial accounting and reporting standards called Generally Accepted Accounting Principles (GAAP). The Securities and Exchange Commission (SEC) regulates these authoritative standards. Their role is vital in ensuring transparent, credible, and easily understandable information for efficient markets. The purpose of this […]

Introduction: Budgeting is a common practice in most firms as it helps measure performance, plan, and exercise control. The budget process involves developing a single budget, but multiple draft budgets are usually created. These draft budgets account for uncertainties that may arise after business operations begin. It is challenging to estimate future market demand, so […]

Introduction Accounting systems and standards vary globally due to different societal and national contexts. Efforts have been made to harmonize these standards through initiatives like the IASB and FASB convergence project, but completely eliminating accounting differences may be challenging in practice due to real-world complexities. This essay will discuss the influential contexts that lead to […]

Steve Lawrence, 1996, has suggested the significance of internationalisation of concern activities which covers all the facets of commercial maps that must be viewed internationally. This includes the accounting map. The apprehension of the international accounting patterns of a individual state is non sufficient for an apprehension of the accounting environment in which most organisations […]

Accounting, overseen by an Accountant, involves the systematic recording, reporting, and analysis of financial statements. It sets regulations and guidelines for financial statement format and content. Fraudulent activities related to financial statements encompass fabricating profits, misrepresenting timing differences in recording revenues and expenses, concealing liabilities, and improper disclosures. There are two main types of financial […]

SureCutShears manufactures household scissors and industrial shears. The company has been financially successful since 1958, with a Return on Equity (ROE) of 14%, a Gross Profit Margin of 28%, and a Current Ratio of 10.9% in 1995. In order to secure additional funds, the Treasurer, David Fischer, obtained a $3.5 million line of credit from […]

The hot debated topic in the informative age is computer crime. These crimes are committed with the help of computers which wreak havoc and completely paralyse the economy. These crimes are with high intensity and more deadly and destructive than physical crimes. There are no precise, reliable statistics on the amount of computer crime and […]

As a sophomore at Stern University, NYU, I am currently studying CPA accounting and finance as my major and computer science as my minor. The purpose of this memo is to inform fellow students about different job industries and explain the reasons behind my decision to specialize in accounting. When I first came to NYU, […]

Typically, the manual accounting cycle involves several steps. These steps include analyzing transactions, journalizing entries, posting to the ledger, preparing an unadjusted trial balance, creating a worksheet, preparing balancing statements, adjusting the ledger accounts and posting adjusting journal entries, closing temporary accounts (posting and journalizing closing entries), preparing a post-closing trial balance, preparing and posting […]

Computerizing accounting information systems (ASS) and telecommunication accounting information over the web is believed to enhance the accounting functions in global business organizations. However, there is a counterclaim stating that the security risks associated with these systems need proper management. An accounting information system (ASS) is a resource collection designed to transform financial and other […]

When creating a new system, it’s crucial to take into account special requirements, guidelines, and specifications. It is advisable to engage multiple stakeholders in the project to gather input and ensure that the final result meets everyone’s needs. These stakeholders can include the client, oversight committee, customers, and system users. The first steps involve determining […]

SIC, an Education Company in India, provides an Education of International Standard through a holistic approach. It aims to meet the current professional demand and offers a complete education solution. SIC focuses on the new generation’s education and employment needs, providing rigorous cutting-edge training for success at various educational platforms. SIC’s core competency lies in […]

The focus of this study is on five offices of an international public accounting firm that recently invested in audit software and knowledge-sharing applications. Both qualitative and quantitative information from the research site were analyzed to measure the increase in productivity after implementing the IT. The results from regression analysis and Data Envelopment Analysis (DEAD) […]

The paper evaluates how national accounting systems adapt to changes in institutions, regulations, and financial reporting. Currently, accounting regulation in Europe is going through significant transformations. The introduction of International Financial Reporting Standards (FIRS) has accelerated the goal of harmonizing international accounting rules. Starting from January 1, 2005, more than 7,000 listed companies are required […]

NANAS does not have the power to independently evaluate Accounting Standards. It can only examine those suggested by CIA and suggests that the Indian government formally accept these standards under the Companies Act, 1956. These approved accounting standards are only applicable to companies registered under this act. Other entities still follow the accounting standards issued […]

The accuracy of Financial Statements is crucial as they must accurately represent a company’s true and fair view. These statements adhere to accounting standard principles, which are enforced by organizations such as the Financial Accounting Standards Board (FAST) and the International Accounting Standards Board (SAAB). This paper will discuss the history and relationship between these […]

Activity based costing is given costs to products and services depending on the activities that the production uses and the resources that are utilised by these activities. It helps in determining the exact costs of the products or services. Apple Inc. uses the activity-based costing method to value its products. The method of activity based […]

Founded in 1852, Berkshire Industries PLC grew from a brewery serving local pubs to a medium-sized publicly held corporation focused on the beverages and snack foods industry. The brewery used a decentralized strategy in terms of the structure of its operations, focusing on four divisions; beer, spirits, soft drinks and snack foods. Up until 2000, […]