Category: Accountancy

Table of Contents Issue Description Interested Parties Causes Solution References Issue Description As an analyzed case of violation of accounting ethics, the 2009 scandal will be considered in which the Indian outsourcing company Satyam Computer Services became involved. The key problem lies in the significant overestimation of revenue (approximately $1 billion), which corresponds to a…

Table of Contents Introduction Main text Conclusion References Introduction Governmental accounting entails the accounting procedures and principles for state, local, and even federal government units, whereby the National Council on Governmental accounting establishes specific rules. Their fundamental differences from the normal profit-oriented businesses are what necessitate their different financial and accounting standards for reporting. This…

Sarbanes-Oxley Act is a law passed on July 2002. President George W Bush enacted it in order to harmonize us security towards US giant corporate firms. The act establishes pertinent legislation that affects the auditing profession. In addition, auditors ought to attest to the management report and financial statement. Similarly, this act coincides with the…

Table of Contents Case Description Violation Discovery Case Resolve Applying Auditing Techniques and Theory References Super Micro is a computer server producing company based in California. It conducts its businesses under the NASDAQ Stock Market and therefore is required to keep and file strict financial records for different periods. However, from at least FY 2015…

Introduction Since the formation of the 1934 Securities and Exchange Commission, the Sarbanes Oxley Act (SOA) is perhaps the most important and instrumental piece of financial legislation in the Accounting field to emerge in the last century. It birthed significant reforms in the accounting sector by redefining how different professionals in the financial and accounting…

Table of Contents Differences between forensic and traditional accounting Forensic accounting concepts Competencies and opportunities of forensic accounting Conclusion References Forensic accounting refers to the branch of accounting that deals with integrates legal practice in investigations and auditing. The standards for forensic accounting are thus derived from the law and they give this practice its…

Introduction In human society, it is natural that people united with a certain joint goal need some rules of regulations according to which they plan to achieve this goal. As well, the monitoring of results of their performance is also demanded to see how successful the work is and what improvements are needed. Drawing from…

Introduction Regulatory boards such as the Financial Accounting Standards Board (FASB) have developed frameworks that seek to formalize systems of accounting used by different types of organizations. These frameworks aim at monitoring and regulating the recording, reporting, and preparation of financial statements in various organizations. Key among these frameworks is the Generally Accepted Accounting Principles…

Managing finances occupies a substantial area in all healthcare organizations due to the significance of real numbers to determine future practices, investments, and expenditures. Two different methods are used in various types of healthcare institutions, which are cash and accrual accounting basis. Still, most healthcare providers use the accrual method because it is believed that…

Hospitals and home care organizations have two distinctly different modes of operation. Whereas hospitals offer a plethora of treatments ranging from rudimentary health check-ups to long-term ambulatory care, home care organizations namely provide visiting nurses to perform procedures, provide instructions, and generally oversee the state of health of the patient (Jones, Finkler, Kovner, & Mose,…