Category: Accountancy

Accrual accounting and cash accounting play an important role in organizational financial management. In accrual accounting, the results of transactions and other processes are recognized upon their occurrence (Zelman, McCue, & Glick, 2009). It implies that costs are conformed with received incomes (e.g., the cost of goods is written off at the moment of their…

Table of Contents Accounting Problem Ethical Considerations Negative Impacts Affected Parties Alternatives Concluding Points Source It is worth noting that any company should deliver reliable information and provide quality services to its clients and partners. Fundamental ethical principles in accounting are confidentiality, provision of services following technical standards, honesty, and transparency. Careless attitude to the…

Table of Contents Thesis Ambiguity and Vagueness Descriptions Instead of Prescriptions Accounting Standards VS. Conceptual Framework Counterargument: Technical Benefits Conclusion References Thesis In this presentation, I argue that a conceptual framework in accounting is aimed more at protecting the accounting profession than at the improvement of accounting practice. There are three critical arguments to prove…

Abstract Business ethics take different forms and are applied at all levels and stages of its operation and management. The society expects corporations to adhere to a set of norms and rules for them to sustain their competitive advantages. In other words, corporations are expected to comprehensively practice corporate social responsibility (CSR). Among the ethical…

If I were going to consider a career in accounting, I would choose the nonprofit sector. Nonprofits, especially big ones, need to hire professional accountants to manage their finances. It is a way to avoid fraudulent activities and keep track of cash flows. I am particularly interested in nonprofit accounting because I will have an…

A fund is a separate part of monetary assets that has a specific purpose. This is a financial instrument that is widely used in economic practice. Besides, it is typically professionally managed in order to allocate resources in a proper way. Such funds are generally supported by taxes, grants, and other income sources (Chase, 2020).…

Introduction Salesforce.com (CRM) is a company that provides business software to organizations based on the cloud computing platform. The revenue model is based on subscriptions. The company was founded in 1999 and is headquartered in San Francisco, USA. It is a publicly-traded corporation. The chief executives of the company are Marc Benioff, the Chairman, and…

Annotated bibliography Griffin, G. (2019). How artificial intelligence will impact accounting. ICAEW. Web. This reporting article from the respected publisher ICAEW extensively examines the issue of accounting automation and the consequences it will lead to. At the heart of the report is the recognition that Artificial Intelligence (AI) is spreading everywhere, and the field of…

Table of Contents Introduction Cost Accounting Principles and Techniques Budgetary Control and Functional Budget Budgetary Systems Conclusion Reference List Introduction Accounting standards are basic rules that must be followed while planning budgetary report that will be circulated to individuals, shareholders, and investors. Accounting standards incorporate essential rules and expectations, for example, the cost guideline, coordinating…

Introduction Determination of full costs and selling prices is one of the most important methods of costing in any enterprise that is aimed at improving on profitability as well as making decisions. Most of the organisations face challenges in trying to figure which method to use to both full cost and selling price. The greater…