Business Accounting And Career Research Report

Business Accounting And Career Research Report
Business Accounting and Career Research Report From: Crystal Leotaud Student Number:
300854350 For: Vicky Ghazarian Date: Thursday July 9, 2015 Academic Program Outline In the
School of business at Centennial College my program of study I am enrolled into is "Business
Accounting 2801", it is a 2 year diploma program. The reason why I chose to pursue Business
Accounting as a profession is due to the various career paths and employment is abundant. The
accounting field is broad and touches all businesses and industries, I also selected this program
because I have a good grasp for numbers and logic. In addition, to completion of Business
Accounting I hope to further my skills with all the knowledge I obtained by finding a suitable career
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COMP–106 Applied Business Software 1 Lecture Hours: 3+1** Lab Hours: 4 Basic concepts and
skills in the Windows operating system (file management), basic computer concepts
(hardware/software), basic Internet and E–mail usage, Microsoft Word, and Microsoft PowerPoint
FINA–110 Canadian Investments Funds Course Lecture Hours: 4 Overview of subject matter
essential for the individual who requires general knowledge of the mutual fund industry and related
topics. The individual may want to become a professional in the mutual funds industry or simply
want to expand their knowledge of mutual funds for personal interest. Math 119 Mathematics of
Finance Part 2 Lecture Hours: 4 Introduced to the common practice in consumer finance as used by
Canadian companies. MKTG–116 Principles of Marketing Lecture Hours: 3 Overview of
contemporary marketing, emphasizing the management of the product/service, price, promotion and
distribution areas of an organization within a changing environment. Semester 2 Accounting 150
Small Business Software Lecture Hours: 2 Lab Hours: 4 Managerial accounting topics related to
cost concepts & the cost of goods manufacture schedule, job order costing, process costing, activity
based costing, master budgets, flexible budgets and variance analysis. Instructional methods include
lectures, class discussion and problem–solving. Accounting 221 Financial Accounting 2 Lecture
Hours: 4 Topics include: Receivables, Capital Asset valuation
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Woolworths Financial Ratio Report Analysis
Woolworths Financial Ratio Report
Liquidity, Solvency and Profitability
Abstract
This report consists of ratio calculation and analysis of Woolworths' liquidity, solvency as well as
profitability. Liquidity ratios include current ratio, quick asset ratio and inventory turnover.
Solvency ratios include debt to total asset and interest coverage. Profitability ratios include return on
owners' equity, payout ratio, return on assets, return on sales, asset turnover, cash return on sales and
operating expense ratio.
Ratio Calculation | Formula | Calculation $M | Results | | | 2012 | 2011 | 2012 | 2011 | Current Ratio |
Current AssetsCurrent Liabilities | 5,802.16,766.2 | 6,326.98.022.2 | 0.86 : 1 | 0.79 : 1 | Quick Asset
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This may be caused due to: * Increase in assets that are held for sale to $376.70M from $93.90M *
Decrease in cash from $1,519.60M to $833.40M used to pay off external borrowings and pay out
dividends.
Woolworths is facing a problem in paying back its short–term liabilities using its most liquid assets.
Inventory Turnover
Inventory turnover measures the company's efficiency in turning its inventory into sales. Its purpose
is to measure the liquidity of the inventory (Carey, 2009)
Woolworths has shown increasing inventory turnover from 10.88x in 2011 to 10.97x in 2012.
Generally, the higher the inventory turnover, the better the liquidity. The lower ratio in 2011 implies
poorer sales since the cost of sales in is $39,050.00M, lower than $40,792.40M in 2012. However,
the improvement in inventory turnover may indicate ineffective buying – Woolworths buys too
often in small quantities, with higher buying price.
Typically, low inventory turnover shows inefficiency in controlling inventory levels or stock pile–up
but this is not the case with Woolworths. Its inventory turnover ratio in 2012 shows improvement
despite higher average inventory of $3,717.40M in 2012 than $3,587.65M in 2011, showing that
Woolworths is able to produce stronger sales with higher inventory levels.
Higher inventory turnover ratio in 2012 indicates better liquidity while lower inventory turnover
ratio in 2011 gives signal of

A Report On The Accounting Software
Created a report for Auditors that displays Accounts receivables from previous years that have been
paid off this year. Made phone calls to customers with past due invoices. Received access to Great
Plains accounting software.
2/25/15– Assisted the auditors in locating source documents that they were looking for and needed.
Most of the source documents were related to accounts payable. Specifically, they wanted to check
the employee reimbursement checks to ensure that they were being reported properly for both book
and tax purposes. For book purposes meals and entertainment are counted as a full expense but for
tax purpose only half of the expense is deductible. I got to learn a lot more about book–tax
differences from the auditors, such ... Show more content on Helpwriting.net ...
A key factor of the lunch was communication, in which people were both talking business but at the
same time building a relationship by getting to know each other and talking about their past.
2/26/16– Created an excel workbook "Deferred Revenue Balance–2016" that highlights deferred
revenue. The sheet was at first intended to assist the auditors in performing their job but it will be
re–used to help validate that the company is properly recognizing deferred revenue when it is
earned. The reason for re–using the spreadsheet is because the company has gotten more customers
than usual, who wish to pay in advance. This advanced payment creates a liability, that needs to be
recognized properly. The spreadsheet was created by creating a smartlist using Great plains that
displays all information related to Deferred Revenue. After creating the smartlist, the information
was exported into an excel spreadsheet "Deferred Revenue Transactions", which was all that the
auditors required. Then to re–use the workbook a new sheet "Deferred Revenue Balance" was
added, which pulled information from the first sheet through formulas. After creating the formulas
on the second spreadsheet, any information inputted into the first sheet was moved to the second
sheet in a more organized and informative display, which also displayed whether debits and credits
were balanced. Now the workbook will be updated on a monthly basis to ensure proper recognition
of Deferred Revenue. To

Questions On Confidentiality And Disclosure
1.6 Confidentiality and Disclosure.
1.6.1 Confidentiality
AirAsia when we come in contact with our passengers in the wealth of information and related
activities. Unless it has been disclosed or information will be treated confidentially. This
information can be used in our operations, and not for other purposes, unless otherwise authorized,
we will not allow anyone who is not authorized to disclose any trade secret or confidential.
customers and business processes confidential financial information.
We use or attempt to use such information may not cause harm or direct or indirect damage from
AirAsia or stakeholders. We will not share important information with the other AirAsia (even our
families) are also careful to prevent accidents ... Show more content on Helpwriting.net ...
effective trade related activities and human resources necessary to manage the data.
1.6.3 Intellectual Property
Intellectual property, including patents, trademarks, technology secret AirAsia and creative ways of
thinking must be protected and managed to ensure that the best interests of Air Asia. We will respect
the intellectual property of others. Unless the rule of law and government must be something else
that we should not support the unauthorized sharing of intellectual property.
1.6.4 The data can affect the price of Air Asia shares.
As part of the activity of the AirAsia Group may be listed listed companies must follow strict rules
to deal with AirAsia will affect the share price information. AirAsia may affect the share price of the
relevant information before they are sent to the stock exchange and published in the information
system of the Exchange or to protect sensitive data before they leave, we must prevent people who
are not. permission to access or disclose information to those persons.
We do not exchange economic benefits of any inside information if we are not sure if it is sensitive
information or what action should be taken, we can seek the advice of legal services and
compliance.
If you are or have been AirAsia could affect the stock price relevant information in a

How to Write a Business Report Essay
Reports and proposals
After reading this chapter you should be able to: Explain the differences and similarities between
formats, types or sub–genres of reports Explain the differences and similarities between reports and
essays Explain why documents need to contain an appropriate balance of information and
persuasion Demonstrate competence in writing a longer, analytical research report Explain the
differences between reports and submissions, proposals and tenders
So you've got to write a report . . .
The ability to write reports is one of the most useful writing skills you can acquire. To be a good
report writer means you must be competent at describing and analysing situations and people. A
report is a powerful ... Show more content on Helpwriting.net ...
195)
Memo report
Gives picture of non–routine processes and situations Gives picture of non–routine processes and
situations Presents a case for change (e.g. a purchase, a new system and/or stafﬁng)
Letter report
Mainly external Decision–makers
Justiﬁcation

Company Complexity Of Ge And Mcvay
Company Complexity
According to Ge and McVay research study findings, business complexity is positively correlated
with firm disclosure of material weaknesses. They hypothesized that the "firms with more
complicated transactions likely to have greater chance for a disconnect in the financial reporting
process, and thus a material weakness (Ge et al., 148)." To measure business complexity, Ge and
McVay used the number of operating segments reported in the annual 10–K and the existence of
foreign currency exchange translation. Ge and McVay had two subgroups within their study: firms
that disclosed material weaknesses and a control group of 2003 Compustat firms who did not report
any material weaknesses.
The Ge and McVay study proved their ... Show more content on Helpwriting.net ...
In comparison to Doyle et al. study, Doyle and his colleagues hypothesized that the "complexity of
the firm is a driver of internal control weaknesses (Doyle et al., 9)." To measure the business
complexity of a firm, Doyle et al. used three measures to include the number of special purpose
entities, number of operating segments and the existence of foreign currency adjustment. The
findings of Doyle et al. were as predicted. The three complexity measures were higher in firms that
reported material weaknesses in comparison to the 2003 Compustat firms, who did not report any
material weaknesses. This indicates that company complexity is positively correlated to the
disclosure of material misstatements.
Company Profitability
In relation to the Ge and McVay research study findings, company profitability is negatively
correlated with firm disclosure of material weaknesses. Ge and McVay hypothesized that "poorly
performing firms simply might not be able to adequately invest in proper internal controls (Ge et al.,
151)." This would result in a greater chance of disclosing material weaknesses. In order to test their
hypothesis, they used two profitability metrics consisting of return on assets (ROA) and cash from
operations scaled by assets (CFO/A).
In reference to the Ge and McVay research findings, as presented in Figure B1 , material weakness
firms had lower ROA and CFO/A compared to the control group of 2003 Compustat firms
(excluding material

Audit Report On The Accounting Position Of An Area That Is...
Provide a summary of the topic and why it is considered an area that is complex and requires auditor
judgment.
On an ongoing basis Auditors perform methodical and independent reviews of paperwork, financial
records, documents and receipts. Due to the complexity and difficulty nature of assessing judgment
on audit reports, the necessity to determine if misstatements are material enough to be mentioned in
the audit report and if the existing accounting position of the business or industry can be warranted
is essential (Sun, 2016). With this information auditors are able to document and determine if the
information presented can be verified and if it represents a true and fair standing of the company's
financial statement at that given point in time. Internal control deficiencies occurs in situations
where the manner in which financial information that is reported is hindered by restrictions placed
upon management and employees. Additionally, these boundaries hinders them from efficiently and
accurately identifying misstatements while performing their daily tasks (Graham & Bedard, 2015).
Based on established internal controls auditors are able to perform different procedures that are
required to follow while performing an audit and also at the conclusion of an audit to detect Internal
control deficiencies.
Internal control deficiencies are considered a complex area that entails auditors decision due to the
likelihood that if deficiencies are not discovered in a timely

Charity Accounting Report : Charity
AE1 Charity Accounting Report
Charity: "An organization set up to provide help and raise money for those in need"
http://www.oxforddictionaries.com/definition/english/charity [last viewed on 19/03/15 ]
Any company aim is to increase the profit for the share holders, receive dividend (distribution of
profits) in order to invest again or issue shares (selling part of the capital, method mainly used by
big business to avoid asking bank loans and have liquidity – cash flow), take bank loans, while non
for profit organization aim, is not to gain profit or save money but to spend for social purposes,
explaining how the money was spent. There are four main types of charities structure; Charitable
incorporated organization, Charitable Company, ... Show more content on Helpwriting.net ...
In England and Wales charity accounts are regulated by the following acts; Charity Act 1993,
Charities (Accounts and Reports) regulations 1995 and 2000, Charity act 2011, Charities SORP
(Statement Of Recommended Practice) and by the body of Charity Commission Directions and
Guidance. The charity accounting framework in UK, is the SORP 2005 that was up to dated, in
2015, and it is compulsory, which means is required by law, furthermore, there are two accounting
stands, F. R. S. S. E. only for small entities with a turnover not more than £ 632'000 balance sheet of
£ 316'000 (value of the assets) or less and with a max of 10 employees (financial reporting standard
for smaller entities, last up to dated – 2015) and F.R.S. 102, (Financial Reporting Standard,
"international standard"), mainly used by medium – big size organization, the difference between
the two is, the first one (F. R. S. S. E.) is for small entities only, while the second one (F. R. S. 102)
can be used by any charity organisation, both big and small, although, is not recommended to small
entities as it is much complex and might require a trained person.

Acc 201 Final Project Part I Accounting Cycle Report
ACC 201 Final Project Part I Accounting Cycle Report Saheed Alabi Southern New Hampshire
University The purpose of accounting cycle report is to keep the best accounting records up to date.
It also assist in producing the best possible financial statement that shows the true pictures of the
business or organization and help making a good call whether business is profitable or not. Journal
Entries: This is the first step in accounting cycle and are used to record all business transactions and
events in the accounting system. The role of Journal entries is also to identifying, analyzing and
journalizing the transactions as they occurred because if you don 't know a transaction occurred, you
can 't record one. This plays an important role in getting the financial statement accurate. T–
Accounts: This is the second step in the accounting cycle and the purpose of journalizing it in the T–
accounts is to record the net change in cash caused by the business event. It also help preparing the
statement of cash flow faster and could aid the management understanding the movement of cash
and non–cash items. Unadjusted Trial Balance: This is the third step in the accounting cycle. After
all the journal entries are posted to the T–accounts, the unadjusted trial balance can be prepared and
the purpose is to be sure that the total amount of debit balances in the general ledger equals the total
amount of credit balances. Adjusting Entries: This is the fourth step in the accounting

Accounting Industry Interview Report
It is essential for prospective employees to completely understand the field they are entering prior to
actually entering the field. This understanding assists in ensuring that current students are a good fit
for their prospective field and that they will be fulfilled in that industry. To acquire this knowledge,
students and prospective employees must speak with current professionals and share in their
experience and knowledge. Because of this, the author interviewed two individuals in the field who
gifted her with their experience and allowed her to have a greater understanding of the industry she
is going to enter. The author interviewed two industry professionals: Jayne McQuillan and David
Behnke. Jayne McQuillan is the owner of her own ... Show more content on Helpwriting.net ...
The author learned that grades are extremely important in securing a job in the industry because
they work in correlation with success on the CPA exam. David suggested that the best way to study
for the exam is to take a review course and use online practice tests. Review courses help ensure
that studying is targeted to each individual piece and offer exclusive knowledge to the exam. The
exam is also different now than when he took it. He had to take it over three days and had 20 hours
of testing. All parts of the exam were offered during that time and if you failed, you had to
completely retake the entire exam. Now, applicants can take the exam by individual piece which
makes it much easier to pass. It is crucial to take the exam right out of college to avoid the
possibility of forgetting anything. This assured the author that the exam is passable and that she just
needs to stay focused and apply herself in order to be truly successful (Behnke, D., personal
interview, April 13,

Accounting Policies : Majestic Wine Annual Report
Accounting Policies: Majestic Wine Annual Report
The purpose of this paper is to deliver a brief overview of accounting policies as they pertain to
subsidiaries of Majestic Wine. This topic became of interest as research revealed that it comes up
across policies, that various accounting policies must be interrelated in order to account for
subsidiaries. This means that from an accounting and auditing standpoint the existence of
subsidiaries is an important issue.
Endenich, Hoffjan, Schlichting and Trapp (2016) found that international companies tend to have
harmonious accounting policies when it comes to subsidiaries. There is a growing awareness about
the need for a global accounting system, and this has had an effect of making ... Show more content
on Helpwriting.net ...
The name of all the companies which, having more than half of the voting rights, either directly or
indirectly through other companies in the group, have not been treated as subsidiaries in the
consolidation due to lack of control; the effects of the acquisition or disappropriation of subsidiaries
on the financial position at the date to which the financial statements refer, and the results achieved
by such operations in the period covered by them, as well as the same amounts corresponding to the
preceding period, must be included. Also, the individual financial statements of the parent company,
and a description of the method used to account for investments in subsidiaries, must be included
(Sedki, Smith & Strickland, 2014).
Another way subsidiaries are important is that they may indicate influence over investors, owners or
officers in the company. According to Deloitte (n.d.): "A holding of 20% or more of the voting
power (directly or through subsidiaries) will indicate significant influence unless it can be clearly
demonstrated otherwise [IAS 28.6]" (para. 9). However, this is not an issue with Majestic Wine.
Furthermore, "the existence of significant influence by an investor may become evident in the
following ways: [IAS 28.7] representation on the board of directors or equivalent governing body of
the investee, participation in the

Internship Report of Accounting
Internship Report 1. Introduction During April 12th and April 30th, I served as an intern for
ZhiqinCertified Public Accountants CO., LTD. Foshan City, ZhiqinCertified Public Accountants
Co., Ltd. is officially registered, a certified public accountant firm, in 1990, a period approved by
Guangdong Provincial Department of Finance was established in 2000 began operating a limited
company, a practicing certificate number is 44060005, assets assessment Certificate No. 440 200
756. Since its establishment, it keeps adhering to the purpose of "legal, independent, objective,
impartial, rigorous and realistic, enthusiastic service", adhering to the principle of "Law as the
yardstick to the quality of life, reputation and development, ... Show more content on
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Completing the annual audit services, I assisted to complete the follow–up field work, finish a
worksheet, and sort audit reports. In fact, the industry is mainly rental income and trading cards of
this intangible asset. Finally, I filled out the intangible assets tables and accrued expenses tables, as
well as some trivial work of copying tax returns and so on. 6. Difficulties Encountered Because my
major was not auditing, I knew nothing about this job. In other words, I lacked of ability to help my
colleagues when I went to the office in the first day. I did not know the process of preparing the
audit reports, even the accounting profession proper nouns. What's more, accounting has always
been tedious work. During the internship period, I felt breathless, and I thought I had touched the
peek of the patience. Auditor has to meet the number every day, count the tables every moment, and
think the process every second. The most important lesson I got from internship was that the more
mistakes we made, the more annoying we would become, the more annoying we felt, and the more
wrong we would do. In fact, auditing was not complex work, and what we really need was patience.
Therefore, I encountered no difficulties save professional knowledge. 7. My Shortcomings Realized
as an auditor must possess the personal qualities, I should have the operational capacity and
physical, so as to better adapt to such an important job. As staff could see many

Weaknesses Of Ir, It Is Not The Silver Bullet That Will...
Weaknesses of IR
Although there are a lot of strengths for IR, it is not the silver bullet that will completely change
accounting forever. One of the main weaknesses of IR is the expenses that come with measuring
such a comprehensive range of factors that include non–monetary factors that can be hard to
actually measure (Eccles & Krzus, 2010). It can be unappealing for smaller companies or
organisations to set up all of these systems in order to provide a wider perspective of their business
or organisation just to please stakeholders, when the costs will outweigh the potential profits of
attracting new investors.
Another issue would be potential information overload for less knowledgeable individuals who will
simply be overwhelmed by all the information provided by IR. There is a question of how important
is it to report more comprehensively if the end user will simply be unable to use all of the
information to their advantage, which raises another question of if it is worth reporting in an IR
format at all.
Time is also a major issue for some companies who may have less labour to spare in order to report
on what can be considered less important aspects of an organisation, especially if it is a small to
medium sized enterprise. There have been reports of some integrated reports being three times as
longer than estimated to be completed (Eccles & Saltzman, 2011). It can be very hard to justify
allocating that many hours to prepare a report that some may find unnecessary or

Cjhs400 R1 Individual Case Studies Essay
University of Phoenix Material
Individual Case Studies
Case One: Violet
Violet is a 20–year–old woman with a history of difficult relationships. She was in foster care from
12 to 18 years old. She attended a career college and is employed as a dental assistant. This is her
first real job. She was referred to you after a patient at her dental office had a stalking complaint.
She apparently began dating a young man (John) after meeting him at the dentist's office.
When she arrives for her appointment with you, she is dressed provocatively in a low–cut blouse
and tight pants. She has heavy eye makeup on and seems to be very needy, becoming tearful several
times during the session.
At the start of the interview, she states that this ... Show more content on Helpwriting.net ...
They met for dinner, and she ended up going to his apartment where they had sex. She reports that
they saw each other every day for about 3 weeks, which often ended in sex. She states that he said
he needed more space and asked that they not see each other any more. She then reported trying to
get him back and calling him up to 20 times a day. He asked for a restraining order and phoned the
dentist's office asking for a referral to another dentist–he no longer felt comfortable coming into that
office. Violet has had five other restraining orders in the past.
Case Two: Max
You are completing your graduate work at a local university by participating in an internship at a
private mental health clinic. As a part of your internship, you were asked to cofacilitate a group for
men and women with relationship difficulties.
While cofacilitating the group, you meet Max, who was court ordered to participate as a result of
allegations of assault. After a careful review, you find that he has six past charges of assault. Max is
an attractive man in his mid–thirties. He is charming with both the males and female in the group.
Although it is clear that he does not feel he should be in the group, you find that he adds dimension
to it.

After some time, Max discloses that he has been involved in multiple sexual relationships and says
he "can get in any woman's pants." He also brags that he is smarter than anyone in the group,
regardless of the fact that one person has a PhD in

The Stryker Organization
The Stryker Organization has been a pioneering healthcare company, for nearly eight decades. We
have been known for innovative ideas and technology, which are main staples of our business
model. Previously, our company has made substantial changes to our reporting for our readers ease.
Nowadays, we are faced with a similar problem regarding our internal financial reporting
methodologies.
As noted by many members of the Stryker Organization's Finance Training & Development
Department, our current financial reporting system has been inoperative. Numerous employees who
are inadequate in finance and accounting are especially struggling with understanding the reports
and how they relate to their work and divisions. Aggregately, our current ... Show more content on
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Lastly, creating a tone that is positively structured is important for employees morale. This will keep
employees engaged to understand more about the successes versus needs of improvement regarding
the financial updates.
The Subsequent Solutions will Improve Stryker's Internal Financial Reporting
Improving the tone and language will engage employees
Within our current report, the tone and language are promoting a negative attitude amongst
employees. As seen in the document's introduction, there is a heavy emphasis on the company's
slowed growth. In fact, the idea of growth being slowed was written repetitively five times. In
addition, the language and tone create a situation for misinterpreting the report. Our finance and
accounting staff are understanding a completely different message from the report compared to our
other employees.This is specifically evident when the report touches on sales growth and earnings
per share.
To implement our solutions, we need to write our introduction in a more positive tone. Doing so will
be more professional and keep the employee morale instead of emphasizing the negative aspects.
According to the Writing Center at UNC–Chapel Hill, writing in a positive tone will influence on
our readers perception. Therefore, this is important to engage our employees and help them better
understand our financial standing. In addition, the Purdue–Owl says, "inappropriate

Solving Ethical Dilemmas
Solving Ethical Dilemmas in the Accounting Profession
LaKeesha Lawler
ACC/260
January 14, 2011
Dan Jensen
Solving Ethical Dilemmas in the Accounting Profession
The Dilemma of an Accountant
Baker Greenleaf was one of the Big Eight accounting firms. Daniel Potter was a highly ethical
accountant that placed a lot of value on integrity. He was hired to work as an accountant for the
firm. Baker like many other firms was faced with a dilemma that tested the firm's ethical standings.
Even though a firm may be faced with a difficult decision, the firm's ethical standing helps
determine the best ethical decision for each situation. To reach the best ethical decision it is best to
use philosophical approaches in addition to the ... Show more content on Helpwriting.net ...
Dan is a guy that has high ethics and integrity who bases his decisions on those aspects.
Baker Greenleaf is the firm handling the account. Baker's reputation is at stake, if the wrong
decision is made the firm's reputation may be ruined. The firm could lose clients, revenue, and face
lawsuits if the wrong decision is reached. The wrong decision may also cause the firm to lose
investors.
Oliver, who is the project senior and has about six years of experience with Baker risks losing a
promotion. He also risks not gaining exclusive control over the account. This could cause Baker to
lose profit.
The client (SUB) has it reputation at risk. The clients may lose potential buyers if people discovered
the SUB falsifies its reports. The clients may also face lawsuits if the reports are not corrected.
Gene is assisting Dan with the account and she may have a promotion at risk too. She has her

reputation, ethics, and integrity on the line. Participating with the wrong decision could also put her
job at Baker at risk.
Clients/customers of the SUB may be over charged if the reports are falsified. The clients/customers
may also choose to do business with another company because of the situation.
Solution for the Dilemma
Dan's decision to refuse to falsify the reports was the right decision not only for himself but the firm
as well. Dan's decision was based on the deontology approach; he was more concerned about his
duties, obligations, morals,

Accounting Analysis of the 2011 Annual Report for Bank of...
Table of Contents
1. Executive Summary 2
2. Overview 2
3. Description of key accounting policies and standards 2 3.1 Loans and advances at amortised cost
(Asset) 2 3.2 Deposits and borrowing (Liability) 2 3.3 Employee benefits (Expense) 2
4. Flexibility of Management in Selecting the Key Accounting Policies 3 4.1 Loan and Advances at
Amortized Cost 3 4.1.1 Flexibility Analysis 3 4.1.2 Accounting policies analysis 3 4.2 Deposits and
Borrowing 4 4.2.1 Flexibility Analysis 4 4.2.2 Accounting Policies Analysis 4 4.3 Employee
Benefits 4 4.3.1 Flexibility Analysis 4 4.3.2 Accounting policy analysis 4
5. Quality of Disclosure Made in BOQ Accounts 5 5.1 Business Strategy and Economic
Consequences 5 5.2 Notes to the ... Show more content on Helpwriting.net ...
Theoretically, investors require a discount on bonds because the market interest rate at the time of
issue is higher than the coupon payments on the bond. Therefore, by amortizing the discount at the
market interest rate, accounting statement of Bank of Queensland will exactly reveal the economic
reality of the bond issue and its true cost of debt.
4.2Deposits and Borrowing
4.2.1 Flexibility Analysis
Due to the characteristics of banking industry, there is a high flexibility for management in these
two liabilities. It is noticeable that deposits and borrowing accounted for about 97% of total
liabilities on the balance sheet. Occupying 69% of total deposits, managers pay more attention to
Retail Banking Services because of itsattractiveness to customers compared to other types of
deposits.
4.2.2 Accounting Policies Analysis
This policy states that securitization set–up costs relating to on–balance sheet assets are included
with securitization borrowings, and amortization is recorded as interest expense. Initially, excluding
off–balance sheet costs makes the liability much smaller and enlarges their net assets. Likewise,
interest on debt is a tax–deductible expense and creates a tax shield benefiting Bank of Queensland.
The major function for this policy is to save cash flows for BOQ.
4.3 Employee Benefits
4.3.1 Flexibility Analysis
Employee expenses mainly consist of share based payments and employee benefits. All of

Essay on Accounting Decision Analysis Report
Case Study Report
Accounting (Decision Analysis) 308
[pic]
Lecture: Adrian Melia
Tutor: Rajni Mala
Tutorial Time: 9am–11am (Wednesday class)
DUE DATE: 12/09/08
table of Content
Executive Summary 3 Executive Summary 4
Introduction 5 Introduction 6
SWOT ANALYSIS 7 SWOT Analysis 8
Common–size analysis 10 Balance sheet and common size analysis from2005–2008 11 Common–
size analysis 23
Accounting Analysis 25
EVAL Ratio Analysis 35
Appendix: Financial Statements of BlueScope steel Ltd 41
References 68
Introduction
Introduction
BlueScope Steel is the leading steel company in Australia and New Zealand, supplying a large
percentage of all flat steel products sold in these markets. The company's ... Show more content on
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Lastly, company may showed the sign of losing trust of employees. According to worker union
news, employees in blue scope requiring higher pay eventually go for a strike.
Opportunities: Sustainable development is a major issue been concerned by us. In Australia, water
scarcity is one of the major issue. Bluescope Water was established in 2004 in anticipation of

increased water scarcity by developed and released a range of products, rainwater tanks, to ease the
pressure of water resources. These new brands will bring great economic and social benefits.China,
Russian Economic and Middle East steel demands remain strong thus global steel prices keep high.
These make good opportunity for Bluescope to earn profit at international market.
Australian Steel Institute, who submitted an application for funding "Steel Online Project" and was
successful in securing a grant from the Australian Government's Information Technology Online
Program. This project will use lower–cost–internet–based technology to help wider steel industry
share useful resource. (www.steel.org.au)Threats: Australian dollar is getting stronger in the past 2
years, and there is no sign to stop it in the nearly future. Strong Australian currency has significant
impact on BlueScope's foreign currency denominated earning. The Australian dollar averaging 14
per cent higher than in fiscal 2007 wiped $82 million off profits.(www.news.com.au) Secondly,
Costs what include raw material costs, labour

Accounting Analysis Report
Analysis report of ARB Corporation Ltd and Super Cheap Auto Group Ltd
Accounting Assignment 2010
Lecturer: Sia Dixit
Personal Details:
Hendrik Halim (HAHED92J)
Nathanael Siregar (SINAD102J)
David Ang (ANDAD92J)
MAA103 Assignment Planner – Trimester 2, 2010
STUDENT GROUP NAMES: ID No. :1. Hendrik Halim – HAHED 92J 2. Nathanael Siregar –
SINAD 102J3. David Ang – ANDAD 92JClass Time/Day: 12.45 – 16.45 / Tuesday Lecturer's
Name: Sia Dixit |
DATE: | BRIEF DETAILS OF HOW YOU INTEND TO PROCEED TO COMPLETE REPORT: |
NAME OF STUDENT(S) ... Show more content on Helpwriting.net ...
Introduction....................................................Page 4
2. Body:............................................................Page 5
2.1Profitability.............................................Page 5
2.2 Efficiency..............................................Page 7
2.3 Financial Stability...................................Page 8
2.3A Short Term..........................................Page 8
2.3 B Long Term..........................................Page 9
Limitations..................................................Page 11
3. Conclusion and Recommendation......................Page 12
4. References.....................................................Page 13
5. Appendices....................................................Page 14
1. Introduction
Super Cheap Auto Group Ltd. is a business corporation working on selling automotive products
such as car parts, car care and kits. Its business is very well established and having Australia and

New Zealand as the target market. The annual report of this company has got its good performance
during 2008–2009 period of time. The other business this report is analyzing about is ARB
Corporation Ltd which works on the same field as Super Cheap Auto Group Ltd. They are selling
the same products, working on car accessories and spare parts.
This report consists of detail ratio analysis of the financial statement of two companies stated above
over a two year period (2008 through 2009) by performing and interpreting financial ratios from the
data given. A brief comparison of the two companies' performance in specific key ratios will also be
discussed in this report. So in the end of the report, clear and detailed factors

The Role Of Media Management On Crisis Communication
The importance of media management in crisis communication
Introduction
Crisis according to Laura (2013, p. 51), can be defined as any situation that threatens harms or cause
panic among people. Crisis may occur due to accidents, war, and flood or fire attack. During this
period, the public, who may be affected by the crisis because they are found in the situation or their
next of kin are involved in it, rely on a lot of information that is relayed by the media. Because of
this, the media must be careful of what they report. The information that the media convey to the
public according to Laura (2013, p. 50) may cool the situation, and reduce the tension that has been
built by the parties concerned. However, if they are not mindful of ... Show more content on
Helpwriting.net ...
Literature review
Research has been done on the role the media should play during the crisis. Other people should
have
AuthorLastName3
also researched on how the media should play this role. For instance, Taffel, A., in the year 2007 did
research on how to enhance Public Relations During the crisis (Taffel 2011, p. 112). In his research,
Taffel observed that, it is necessary to monitor the information that is relied on the public so that, the
image of the agency that is in crisis is not tarnished. In his research, Taffel had suggested that the
organization must balance the information that o is relayed the public (Taffel 2011, p. 112). He
observes that, it is necessary to balance between truths and lies so that the level of tension is
reduced. In the research, taffel adds that, if the media is allowed to report on everything, they may
kill the reputation that the company has.
In 2011, Yan, J., Brooke, F. L and Lucinda, L. A. did a research on the role of the social media in
effective crisis management. The research had been prompted by the manner in which a lot of
propaganda was spread via the social media during the Arab spring (Yan, Brookes and Lucinder
2011, p.3). In the paper, the researchers observe that, crisis can be best managed by the medal if they
can control the information that they give to the public. The researchers observe that, if the media
gives information that is contradicting, the public may become more anxious.
Despite the fact

Dress Code : Standards And Procedures
COMPANY X – APPLICABLE STANDARDS AND PROCEDURES
Dress Code
Employees are expected to maintain a clean and neat appearance at all times, dressing in a manner
that is appropriate for the work being performed. Workplace attire must not serve as a distraction to
other employees, clients or other visitors,
Guidelines – Guidelines for proper business attire when reporting to work or when representing
Company X. In general, ' 'business casual ' ' is considered acceptable attire. Further, clothes should
be clean and in good repair.
Attire that meets the following guidelines is acceptable.
Acceptable for men:
Dress slacks or casual pants.
Shirts with collars, turtlenecks, sweaters.
Acceptable for women:
Dresses, skirts, slacks, pants, blouses, sweaters.
Unacceptable for both men and women:
Athletic shoes, work boots, beach shoes, flip flops, bare feet.
Shorts, leggings, stretch pants, stirrups, sweatpants/sweatshirts, T 'shirts,
shorts, and or similar items or athletic wear.
Compliance – Supervisors and Managers are responsible for ensuring their personnel are in
compliance. When an employee ' 's attire is questionable, the Supervisor must exercise first
judgement, and will follow the normal chain of command thereafter. Employees who dress outside

the scope of the guidelines in this policy may be sent home to change into proper attire. Employees
that are sent home will not be paid for their travel time. Repeated offenses will result in disciplinary
action. If you

A Comprehensive Annual Financial Report ( Cafr ) Accounting
Abstract
This research paper will detail the modified accrual revenue recognition in State and Local
Government (SLG) accounting. There will also be discussions on the guidance of governmental
fund expenditure recognition, and how it is used in state and local governments. Certainly, there are
differences between the fund and the government–wide financial statements, but there are some
similarities. Within the paper, it will include the purpose as well as the content of the financial
statements. While explaining the government–wide financial statements, the preparation using
derived information in the conversion worksheets, will be presented. Lastly, in this research paper, I
will explain the elements of a Comprehensive Annual Financial Report (CAFR). Introduction In this
paper, I will describe the State and Local Government accounting, using the modified accrual
revenue recognition. Using the modified accrual revenue recognition, will follow in description of
what it actually measures. Followed by the use of the modified accrual revenue recognition, I will
discuss the guidance of the governmental fund expenditure recognition, its definition and
recognition. With discussion of expenditures accounting for governmental funds, I will present the
importance of recognition. Moreover, there are the reporting guidelines of expenditures in
governmental funds. After discussing the guidance, follows the two distinct financial statements:
fund financial statements

Ethical Considerations At Hand It May Preserve The Company...
The intent of this paper is to critically analyze ethical considerations to support whether or not to
report small errors to higher management. On the one hand it may preserve the company's business
and reputation; on the other hand it may affect potential advancement opportunities for the
employee in question.
The issue at hand is determining whether or not newly hired Ben should notify his supervisor and
CFO of small errors found after sending the reports he created for them. Since this is a recurrent
issue, the problem is that by doing so, he runs the risk of jeopardizing his position.
There is an underlying condition, which consists in distinguishing between small and critical errors.
In fact, trying to solve the issue of whether ... Show more content on Helpwriting.net ...
This compares to critical errors in Ben's case.
Similarly to this definition, the definition of a "small error" begs a number of questions:
– Where do these errors come from?
– What is Ben's proficiency in Microsoft Excel?
– Can anyone outside the company audit the company's books?
Ben is conflicted as to how to handle errors found in his work because it may jeopardize either his
job, or the future of the entire company. This is his first job and he realizes that his responsibilities
are overwhelming at times. His reports are an important component of the company's business, and
part of the CFO's work relies on it.
On several instances he has found errors in his reports, and decided to only revise and report those
errors he believes to be critical. Small errors, on the other hand, are not as important to require
reporting according to him.
The case however suggests that Ben is also considering whether or not he should in fact overlook
the small errors, which is what I will attempt to answer in this critical thinking analysis.
Ben's position to disregard small errors is understandable in some aspects. In fact, as a newly hired,
in his first job, he must be proud of being given such job with great responsibilities. Submitting
frequent revisions due to small errors, will make him look incompetent, unreliable, and jeopardize
his job. This could mean running the risk of being fired or demoted. In his situation, the most
important is to prove himself and show that

Sage 50 Accounting Report
Reflection
I have learnt how to use Sage 50; how to recognize and record correct transactions based on source
documents; if HST is required, whether it is HST payable or HST recoverable; using accounting
principles to check each transaction; correcting errors according to general ledger; I can analyze the
difference between balance sheet and income statement.
To begin with, I have learnt how to use Sage 50 to record transactions, and have realized the
benefits and drawbacks of using this software. As we have each transaction sheet, we have to
recognize the debits and credit account first, and record the corresponding amount into each
account. Then we record the source of the transaction, date of the transaction and explain each of the
entry. ... Show more content on Helpwriting.net ...
After I have record every entry I found that my net income is off 40350 dollars. It really freaked me
out. Then I checked the general ledger, I found after I borrowed $40000 from bank, it became credit
balance. I realized that I must have put the debit 40000 in to the wrong account. Thus, I checked,
and it was the exact same error as I have thought. Secondly, there was still $350 less than expected.
I firstly checked whether I have put the amount into the wrong side or have I missed $350.
Eventually, I found it was not simply just putting into the wrong column, but I have selected the
false account. I chose to debit equipment account instead of the expense account. Thus, after
adjusting these 2 entries, the figures reached the expected

Prompts Regarding Fair Value Accounting Using The 2012 10...
Introduction
The purpose of this memo is to respond to prompts regarding fair value accounting using the 2012
10–K report of JPMorgan Chase. According to ASC 820–10–35–2, fair value is defined as "the price
that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date" (FASB, 820–10–35–2). Fair value measurement is
recommended for some assets and liabilities reported.
JPMorgan Chase and Fair Value – 2012
JPMorgan Chase states in their report that some of their assets and liabilities are simply adjusted
from time to time using fair value measurement, while others are measured at fair value on a
recurring basis (JPMorgan Chase, 2013). As stated in their ... Show more content on Helpwriting.net
...
Level 2 inputs use information other than quoted prices that are observable for the asset or liability,
either directly or indirectly (FASB, 820–10–35–47). As further clarified in JPMorgan Chase's
footnotes, this includes "quoted prices for similar assets and liabilities in active markets, and inputs
that are observable for the asset or liability, either directly or indirectly, for substantially the full
term of the financial instrument" (JPMorgan Chase, 2013). The following assets and liabilities are
measured by JPMorgan Chase using level 2 inputs, not including those already mentioned above:
● Securities financing agreements
● Trading portfolio
● Conforming residential mortgage loans expecting to be sold
● Beneficial interests consolidated by the VIE
● Long term debt, not carried at fair value
● Structured notes
Similar to those which use Level 1 inputs, several of the above items are measured using both level
2 and level 3 information (JPMorgan Chase, 2013).
Finally, Level 3 inputs are "unobservable inputs for the asset or liability" (FASB, 820–10–35–52).
According to ASC 820–10–35–54A, this primarily consists of the entity's own data, as influenced
by other reasonably available market information (FASB, 820–10–35–54A). JPMorgan Chase uses
Level 3 inputs to value the following assets and liabilities (not

Ethical Dilemma at Northlake Essay example
"Ethical Dilemma at Northlake"
Week 3 – Case Study #1
Cecellia Dantzler
Synopsis: Frank, manager of corporate reporting at Amalgamated Forest Products, has threatened to
go public with information regarding a falsified report on the effect of effluent controls on the
discharge of wastewater from pulp and paper companies, which has angered his boss, Jim McIntosh
and the company's president, Jim Letourneau. Letourneau was to testify before a legislative
subcommittee the following week and use the report, "Endangered Species: The Pulp and Paper
Industry in the Upper Peninsula", to give the industry's perspective on proposed legislation. The
section of the report which contained the falsified financial information was prepared by Tina ...
Show more content on Helpwriting.net ...
The section of the report addressing the monetary impact of Amalgamated installing emission
control equipment had been falsified. The numbers used in the report were over exaggerated in
order to show that Amalgamated would suffer severely financially should this legislation be passed.
Recommendation #1: Amalgamated has three mills in the community. These three mills and the
corporate offices provide jobs to many of the 10,000 people of Northlake. The company is a major
contributor to the economy of the community. The recommendation is for Amalgamated to be
ethical and show corporate responsibility. No amount of money can be given for human life. The
aboriginal community is suffering from the effects of emission waste from the previous competitor
and from Amalgamated as well. Amalgamated should forego its own financial gain and do what is
ethically right to clean up their waste so that it does not affect the community. The company has had
the emissions problem for so long and it would only benefit them in the long run to do the right
thing and stop the pollution now.
Finding of Fact #2: Frank is being bullied, more specifically, being mobbed, by his vice president
and the president of the company. When Jim McIntosh confronts Frank about publically disclosing
the truth about the report, he is yelling and calling Frank stupid. He's threatening Frank with all the
things he could lose if he were to go forward with the truth. His face is bright red and he is
trembling

Three Currents Affairs Affecting Public Services
CURRENTS AFFAIRS
|Course Tutor – Ali Calthorpe |Year – 2012/2013 |
|Unit – Unit 3 Citizenship and Diversity |Tutor – Ali Calthorpe |
|Assignment Title – The media, current affairs and support within the public services |
|Handout date – w/c 20/05/2013 |Submission date – w/c 03/06/2013 |
|Outcomes Covered |
|Outcome ... Show more content on Helpwriting.net ...
You must illustrate that you can |
|report on current affairs and their impact upon your police service in a balanced approach. You will
be required to attend an |
|assessment centre and complete various tasks in order to successfully be appointed in the role. |
| |
|Task One: (P7) (P8) |
|Your first task is to write a special news article where you must report on three examples of current
affairs that affect |
|public services and citizens (P7). In the final part of your article you should present information on
how the media reports |
|current affairs involving public services (P8).You should include in your article how the media have
reported these different |
|current affairs and the public services' response.Consider if the media coverage differs in different
newspapers or television|
|channels. For example, if some reports are favourable to the services and others not. |

Kansas City Works
1.0 Introduction
Armco Inc. is a steel manufacturer that used to be the sixth largest in its industry in US (in 1990).
The Kansas City Works within its Midwestern Steel Division was hit by the decline in the business
in the US steel industry despite its good performance in the past. Consequently, it downsized and
incurred significant losses in most of the 1980s. This entity produces two primary products
including grinding media and carbon wire rod, one being recognized in the industry for its durability
while the later being non profitable and only covering some of its fixed costs through volume.
2.0 What's wrong with the old system?
(a) Inconsistency with organization's strategy
The Objective of Armco Inc. is maximizing profits and ... Show more content on Helpwriting.net ...
These costs were shown as "S–Order" costs on the Operating Statistics Report.
The old system wasn't working. People were relying on something that was not adequate.
The cost part of old performance measurement system was built for accountants. It was designed to
produce financial statements, operating reports, and produce cost reports. One system can't do all
these things well.
Finance department spending 60% of their time in accounting on the non–value–added chores of
inventory valuation for financial reporting purposes.
(d) Unfair performance evaluation
The Operating reports include those costs that are not controllable by the individual operating
manager. They would be distorted by volume changes. This means that production managers are
cost center managers, held accountable for all costs incurred in or allocated to their respective areas
so. It would be difficult to evaluate manager's performance when the numbers were distorted by
uncontrollable factors.
Managerial performance report, also known as control report is used to make comparison of actual
performance with some standard such as a budget. It forcuses on how well the manager performed
during the period. It differes from economic performance report because

Questions On Financial Reporting Disclosures
1. Introduction
ICAEW made nine recommendations about financial reporting disclosures in 2013 to solve current
disclosure overload problem. This report will mainly argue against recommendation four. Choosing
this prospect because one of the objectives of the Financial Conduct Authority (FCA) is to protect
consumers from being taken advantage of by other informed participants in the capital market.
Among all the suggestions, disclosing different reports for different users has the most significant
influence on investors and capital market.
Section 2 of this report will firstly discuss the probability of fraudulent financial reporting and the
fairness problem. Then the information asymmetry problem and the instability of the security
market ... Show more content on Helpwriting.net ...
Assuming public companies are allowed to distinguish classes of users, the decision–relevant
information could be split on the basis of different interests and somebody may take advantage of
this loophole to provide fraudulent information for a favourable outcome in stock price.
2.2 Example of FFR
According to the most resent report from Association of Certified Fraud Examiners (ACFE, 2008),
from January 2006 to February 2008, among all types of frauds, FFR associated with largest average
cost which was $258 million, while the second largest was $34 million. Furthermore, the study from
KPMG (2003) and ACFE (2008) all agreed FFR is the least common but most costly fraud (Carcello
and Hermanson, 2008). The estimated annual cost of FFR in USA is $1 trillion (ACFE, 2008), and
this is just under the relaxed disclosure regulation, which is the Securities Offering Reform, issued
in 2005 in America (Clinton et al., 2014). "And FFR is certainly not limited to the United States"
(Zack, 2009). Hence, FCA considered FFR facts in US as a lesson and involved in a special project
in 2010 in UK to examine fraud in public companies (Fisher et al., 2010). To conclude,
recommendation four could increase the probability of FFR which could stimulate the stock price,
and that will harm consumers and encourage the unhealthy competition in security market.

Integrated Reporting And An Understanding Of A Company 's...
Integrated Reporting is a more holistic approach to gaining an understanding of a company's
performance. It takes into consideration factors including the environment, society and governance
when evaluating a company's performance and strategizing on a future course of action. One of the
most recent and promising developments in Integrated Reporting has been the release of the
Integrated International Reporting Framework by the International Integrated Reporting Council.
This paper assesses the opportunities, benefits, challenges and limitations of this framework.
Introduction
The Integrated International Reporting Framework was introduced by the International Integrated
Reporting Council (IIRC) to guide the entire integrated reporting process and also to clearly define
key ideas and concepts of this framework. Given some of the confusion surrounding this framework
among companies and accountants in New Zealand with respect to what precisely the Integrated
<IR> Framework is and how it might affect accounting practice, this essay purports to clearly
explain the framework. Further, this paper will also critically examine the framework, highlighting
some of the salient opportunities, benefits, challenges and limitations of this approach. Finally, it
will briefly reflect upon the implication of the framework for accounting practice.
Literature Review
Overview of integrated reporting An integrated Report is defined as "a concise communication
about how an organisation's

Financial Report : The Accounting Principles
The financial report as organized by the accountant is as per the accounting principles. The way the
accounts manager wants the accounts to be prepared is against the reporting standards that are used
in many nations. In this case, the standards ensure uniformity in the reporting framework and
encourage international trade. In this case, this event is a post balance sheet event that has to be
adjusted in the current financial year. It is an amount that has to be taxed in the current financial
year. Taking it forward will reduce our tax liability in the current accounting period, as well as
increase the tax liability in the following year.
Accounting as a profession has its standards that must be followed. The standards are used across
the world to enhance uniformity in the reporting framework of financial statements. This is due to
the growth in the international trade and cross–boundary trade. Some of these standards include the
international financial reporting standards (IFRS), the UD Generally Accepted Accounting
Standards (GAAP).
Transposing an event from one period to another subsequent period is an indication of a fraud when
an auditor assesses the accounts. Therefore, moving the event will have an impact on the financial
statements; both the balance sheet as well as the statement of financial performance of the
organization. Being an income, this is revenue that will increase the net profit of the current year. In
this regard, an increase in the revenue will increase

Science Report For Business Accounting
Sciences Report for Business Accounting
Hunter Langley
Brunswick Community College Abstract
In this report I will talk about the writing that is done in the fields of accounting and economics. The
writing that is discussed will be varying from working in the field and working as a professor of
economics. I will also do a argument examination of Drew Westen's Big Government Protects
Freedom and Prosperity. The argument examination will display the forms of controversy inside the
field of economics. The paper will also have an interview with Dr. Raymond Lee. Dr. Lee's
interview will give a real professionals experience to the paper. Lastly, the paper will consist of
Methods
For this paper I will be taking to Dr. Raymond Lee who has been a teacher at Pembroke University
for five years and is in charge of the Relay for Life at Pembrokes accounting. Dr. Lee works with
Relay for Life to be part of the cure. He works as a mathematics teacher and has triple majored and
has a Ph.D. in mathematics. Dr. Lee has a vast knowledge of everything mathematics from
economics to mathematics education.
I will also be reading and analyzing Big Government Protects Freedom and Prosperity by Drew
Westen. This article is an argument that is a large part of the business field as a whole. This
argument explains why there should be involvement of the government in business practices. This
article is part of the very large debate inside the field of economics. The writer, Drew Westen, has

Accounting Annual Report Project
Alex Parrott Accounting 201 Annual Report Project Semester: Spring 2014 4–18–14 A. Introduction
Hooker Furniture Corporation is a growing furniture company in today's industry and current
economic circumstances. This company was incorporated in Virginia in 1924, and is ranked among
the nation's largest publicly top 10 furniture sources. Paul B. Toms Jr. has been Chairman and Chief
Executive Officer for Hooker Furniture Corporation since 2000 and has also been with the company
since 1983. The Hooker Furniture Corporation home office is located in Martinsville, VA. This
company offers wood furniture, metal furniture, and upholstered furniture products. Including home
entertainment, home office, accent, dining, bedroom, and ... Show more content on Helpwriting.net
...
This difficult transition for the company was necessary for the long term–term cost and
competitiveness, and it also complements their relationship with their main long–term supplier in
China. On the other hand as for the Company's domestic upholstery division, it proved to be the
most significant positive impact with having strong sales growth and profitability. As a result
consolidated net income increased by $3.6 million or (70.6%) over the prior year even though a 2%
lower net sales, due to the company transition. In conclusion to reading both the message to
shareholders and management's discussion and analysis, the current situation and the outlook for the
future are very good in my opinion. This company may have had a slow start in the casegoods sales
for example and the current situation may have suffered a little but the first part of the fiscal 2013
year. But they were looking to the future and making their transition in that area, for more efficiency
in the future and picked up sales the second half of the year. They also made up for this transition
with over a 70% increase in there upholstery division sales. The Outlook that Hooker Furniture
Corporation is great, they are making new business deals and making employee transitions to help
them make it through the Great Recession as the housing market goes back up. C. Financial
Statements Hooker Furniture Corporation uses a multi–step format for what they call the Statement
of Income (Income

Cost Accounting Terminologies, Purpose of Cost...
Part 1– Conceptual Framework
Cost Accounting
Cost accounting, as a tool of management, provides management with detailed records of the costs
relating to products, operations or functions. Cost accounting refers to the process of determining
and accumulating the cost of some particular product or activity. It also covers classification,
analysis and interpretation of costs. The cost so determined and accumulated may be the estimated
future costs for planning purposes, or actual (historical) costs for evaluating performance. The
Institute of Cost and Management Accountant (ICMA), London, defined cost accounting as "the
process of accounting for cost from the point at which expenditure incurred or committed to the
establishment of its ... Show more content on Helpwriting.net ...
a) Performance measurement: This measurement can be done by comparing current costs with those
who were expected – or standard costs budgeted cost – to the degree of knowing which of them
have been controlled. Deviations of expected with the current – variances – can be identified,
evaluated and discussed by managers.
b) Cost of goods and services: In manufacturing companies, the costs of goods must be measured to
determine the cost of items transferred from work in process inventory to finished products. To meet
the demands for information, a cost system should measure all the costs of manufacturing process
and allocate a portion of those costs to each unit of output. The cost to obtain, maintain and manage
the manufacturing plant or building should be added to the cost of material and productive work that
requires each unit. The first are called indirect costs and the two last are called direct costs.
c) Profit analysis. Information in costs is essential to analyze the profits obtained from a product or
product line. The information on the cost of a product enables managers to assess the contribution
margin – the difference between

Financial Accounting Business Report Essay
Report On Product Costing For Dumbellow Ltd
Names:
Instructor:
Course:
Date
1. Introduction This report examines various proposals raised by different managers of Dumbellow
Ltd. The major issue addressed by these proposals is "how to deal with product Z which is currently
resulting in losses and thus pulling down the net profit of the entire product line". The financial
controller proposed a termination of the production of the product while the marketing manager
suggested a £1 per unit reduction in the price so as to increase the demand of the product. On the
other hand, the managing director thought that a 10% increase in both sales and activity across the
board would make a difference. ... Show more content on Helpwriting.net ...
This calculated profit can be reliably achieved. On the other hand, businesses using marginal costing
sets their prices by estimating the highest customer will pay, competitor's prices and market prices
are also considered. This price is designed to cover the marginal costs and is relatively lower. It is
expected that lower prices would stimulate demand, maximize profits or increase the market share.
A similar case, applies to production volume; in marginal costing, higher volumes of production are
set due it the expected increase in demand stimulated by lower prices. All these are speculations
which are risky but have worked for most companies. Marginal costing may not be sustainable in
the long–run because fixed costs will have to be recovered by the firm. It is also worth noting that
this method can make the consumers to continually expect lower prices thus making it difficult to
raise prices again. This would impact negatively on the profitability of firms during financial bloom
or even when the firm wants to recover its fixed costs. However, it works well during financial
crises since the firm that uses marginal cost will remain competitive in terms of low prices.
Proposals
Proposals are the strategies that were raised by the Financial Controller, the Production Manager,
the Marketing Manager, and the Managing Director. The main aim was to provide an optimal way
of dealing with product Z which was unprofitable and was expected to

Shortcomings And Weaknesses Of The Mazars Report
What are the shortcomings/weaknesses that you are seeing in integrated reporting in general
(including the Mazars Report)?
From the Mazars Report, there is some shortcoming of integrated reporting (IR) but these
shortcoming are potential to be improved to be a better one as IR is a process of continuation and
improvement of current reporting approaches. Following are the shortcomings of IR from the
Mazars Report:
Risk and opportunities can be identified and explained, however, it is lack of details in analysis and
mitigation measures.
In the event that vital goals are frequently all around portrayed in various time scales, the
connection with resources allocation could be better in the IR.
The integrated performance indicators is weak in term of publication.
Complexity and lack of clarity has pointed out by Welch (2013), Associated of Chartered Certified
Accountants' head of policy, as a potential weakness of IR. Initial objective of IR is to reduce
complexity and increase clarity; however, it might distort the objective of IR while a set of non–
financial data/information have been recommended to embed to the report, and it could lead to
information overload in the report. Moreover, a full tested set of standards is not introduced or
announced even a ... Show more content on Helpwriting.net ...
It's vary with the previous reporting method which is strictly financial report or financial including
CSR report. It require the full support and commitment from the top management, leverage their
power to convey the message of IR adoption to all company personnel. The representative of all the
relevant disciplines within the business are the team who in–charged for the integrated reporting
process implementation, and also the reporting itself. The key of success to create an integrated
reporting process is to ensure that the multi–disciplinary team combines, cooperate and coordinates
their

A Report on “Accounting” and “Finance” and Why Are They...
A report on "accounting" and "finance" and why are they considered important for business.
Introduction
The aim of this report is to define the terms 'accounting' and 'finance'. Also it will show how
accounting and finance integrate together. Furthermore, there will be a literature review arguing the
available evidence on the relative topic of the report. Additionally, it will account on why they are
considered important for business with the appropriate evidences. Finally, the conclusion shall be
reached summarising the arguments. The conclusion will also discuss any limitations and also
recommendations for future research on this topic.
Accounting
The American Accounting Association defines accounting as, "the process of ... Show more content
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Analysis and findings
This section will look on the importance of finance and accounting for businesses that were looked
at in the Literature Review. Also it will argue the ethics of accounting and finance in business due to
current accounting scandals.
Businesses need accounting information in order to make knowledgeable decisions. Creditors and
other lenders want to make sure that they will be paid back for the credit that they have given to a
business as suggested by Wood and Sangster(2012, p.9). These decisions done by financial
professionals have to administer and determine credit policy, make capital budgeting decisions and
advise on debts and preferred stock to enhance profitability as portrayed by Harold Bierman (2010,
p. 3). Therefore, financial reports are important for making financial decisions for business.
In addition accounting and finance are important during this time of uncertainty such as slow
growth in the economy, debt and crisis. Thus financial information will seek to stabilise current
growth and future state of the business. As suggested by the President of European Commission,
Jose Manuel Barroso, on the current euro zone debt crisis that, banks should set aside more assets to
help safeguard against future losses. Thus accounting and finance have to play a significant role in
the rising of new capital to improve confidence that they could cope

Reflective Report for Introduction to Financial Accounting
Reflective Report
During the last term, i have had learned some knowledge from the subject called introduction to
finical accounting. For me, this is the first time I had chance to learn this subject, before that I just
heard some information about IFA by reading the FT newspaper and watching the news. When I
start learning that, this subject gives me the impression that it is difficult to understand. During the
past few months, I can say I already mastered some of the skills in IFA. I can still remember the first
lecture I had learned was the definition of the "Accounting Equation", I can conclude that the most
important thing you must master is you should try to distinguish the meaning of the capital, assets
and liability. Assets are ... Show more content on Helpwriting.net ...
When I handle one transaction I should create one computer and write related information in detail,
then start to prepare a journal according to the transaction. Write the date accordingly, when I use
this software, I don't know where to start. I find the significance of understanding double entry; you
should know each transaction whether is assets account capital account liability account. If put it in
a wrong entry, what we have done is all in vain. I ought to also prepare account for bank, purchase,
sales and depreciation, this procedure is a little complex. When I prepare T–account at the same
time I must recorded. Return back the main menu select the report, it shows the trial–balance,
different statement of income and statement of financial position, all of that will appear
automatically in place of preparing manually. Have ability to good use of MYOB project is very
necessary, which will avoid existing of errors so as to save time and help you become professional.
Through MYOB project and prepare account manually, I am aware of the importance of numeracy
skills to a future financial professional. Numeracy skill means have ability of counting correctly,
distinguishing between sets of unequal quantities, operations such as subtraction and addition. So,
numeracy is a foundation of the financial professional in order to make sure the transaction smooth
going. Moreover, IT skills are playing an important role to the financial

The Warehouse Group And The Salvation Army And Waikato Tainui
The Warehouse Group does not do enough charity and community work compared to the Salvation
Army and Waikato–Tainui. In 2013 The Warehouse Group only fund raised $3,035,265 for the local
community. This number may look high but if we compare that with the net profit in 2013, which
was $145,328,000. This means that they are only giving 2.09% of their profit back into the
community. This simply is not enough and needs to increase.
Objectives
The External Reporting Board (XRB) define a not for profit entity to be reporting business which
their main goal is to provide goods or services for the public benefit rather than an business that
operates for profit (XRB, 2015).
According to the XRB definition The Warehouse group is a for profit organization. Day–to–day
business, they are trying to maximise profit. The slogan for The Warehouse is "where everyone gets
a bargain". The Warehouse group includes 4 different businesses. The Warehouse would be classed
as a business that operates for profit (The Warehouse Group, 2013).
The Salvation Army is an organization that operates not for profit. Their main objective is to give
back to the community by supplying beds, holding life skill programs, having community meals and
many more services to help the local community (The Salvation Army, 2013). The Salvation Army
is trying to minimize poverty, suffering and depression and therefore would be classed as a public
benefit entity.
Waikato–Tainui tries to develop iwi products and help with

Business Accounting And Career Research Report

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