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Below are Essay & Assignments tackled by us on Accounting

Showing 11 to 20 of 63 results.

  • Assignment on Australian bodies, Australian Accounting standards and Whistleblowing
  • This assignment answers the following questions –

    Part A

    In recent times Australia has weathered cyclones, bushfires, droughts and floods which have significant impacts on Australian businesse...More

    This assignment answers the following questions –

    Part A

    In recent times Australia has weathered cyclones, bushfires, droughts and floods which have significant impacts on Australian businesses.
    What guidance do
    AASB102 Inventories,
    AASB139 Financial Instruments: Recognition and Measurement,
    AASB136 Impairment of Assets,
    AASB137 Provisions, Contingent Liabilities and Contingent Assets,
    AASB 116 Property, Plant and Equipment
    AASB120 Accounting for Government Grants and Disclosure of Government Assistance

    offer business in terms of:
    • Accounting for inventories damaged or destroyed,
    • The collectability of financial assets and impairment losses,
    • The impairment of goodwill and intangibles assets,
    • onerous contracts
    • The costs of purchasing, restoring or constructing damaged or destroyed items of property plant and equipment.
    • Compensation from insurance policies and government

    Part B
    Whistleblowing –
    • What is it?
    • Is there a prima facie duty to report such business behaviours?
    • Is there an obligation under the 2001 Corporations Act?
    • Are there safeguards for the protection of those who disclose such information?

    Discuss

    Part C
    How well do you know your professional accounting bodies?
    • CPA Australia
    • Institute of Chartered Accountants in Australia
    • Institute of Public Accountants

    Distinguish between each and between their professional recognition criteria for membership status


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  • Assignment on Concept and Application of Fair Value Accounting
  • Among the traditional methods of accounting the financial instruments, fair value accounting has been widely used by organizations. Under this method of accounting, the assets and other financial inst...More

    Among the traditional methods of accounting the financial instruments, fair value accounting has been widely used by organizations. Under this method of accounting, the assets and other financial instruments used for trading purpose are calculated on marked to market basis. The majority of financial instruments are recorded at the market value which is against the traditional method of historical cost accounting. Any method used for accounting is indeed of valuable importance as large part and a lion’s share of the financial statements of any company comprises of financial instruments. The records show that in the last couple of years various steps have been taken by the national and international government to take this method of accounting to a wider range which will cover all assets and liabilities of a company.

    The paper reviews the concept and application of fair value accounting and particularly to its widespread application to company’s financial instruments. The paper also looks at practical applicability of fair value accounting in particular to financial instruments. The first part of the report goes on to tell the advantages and drawbacks from this tool of accounting when used to measure financial instruments. The second part of the report analyzes fair value accounting and its application to Australian market. Finally, the paper rounds off with a conclusion.

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  • Assignment on Ethical Considerations in Accounting choice
  • Ethical issues in accounting have gained prominence in academic discussion recently. This has been because of several accounting lapses and organizational failures across the globe which led many coun...More

    Ethical issues in accounting have gained prominence in academic discussion recently. This has been because of several accounting lapses and organizational failures across the globe which led many countries into recession. We will briefly discuss how ethics can be defined. We will move on to discuss several accounting decisions which are not acceptable. We will discuss socially unacceptable accounting decisions, illegal accounting decisions and unethical accounting decisions. We will briefly discuss several choices under each of them. Finally the assignment will be evaluated and conclusions will be made with suggestions that can be implemented in future for better accounting choices.

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  • Assignment on Non-Financial Performance Measure tools
  • 1. Introduction 3
    2. Non financial performance measure tools 3
    2.1. Performance measurement dimension 4
    2.2. Types 5
    2.3. Advantages 5
    3. Current performance measure adopted in the organization 6...More

    1. Introduction 3
    2. Non financial performance measure tools 3
    2.1. Performance measurement dimension 4
    2.2. Types 5
    2.3. Advantages 5
    3. Current performance measure adopted in the organization 6
    4. Balance scorecard 7
    5. Current performance measure tool vis-à-vis balance scorecard 9
    6. Evaluation 10
    6.1. Strength of current performance measure tool 10
    6.2. Weakness of current performance measure tool 11
    7. Recommendations 12
    8. Conclusion 13

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  • Assignment on the application of management accounting principles to its varied products and services of HSBC Bank, Amanah
  • To complete this project report, HSBC bank has been chosen to analyze application of management accounting principles to its varied products and services and its deliverance to customers. HSBC Amanah ...More

    To complete this project report, HSBC bank has been chosen to analyze application of management accounting principles to its varied products and services and its deliverance to customers. HSBC Amanah is a fastest rowing bank in Muslim community and saw its emergence in 1998. The bank has been operational from 1998 and caters to diverse needs of customers who are Muslim. HSBC is an international bank and at present has over 300 offices covering areas of Middle East, Asia, Pacific, America and European countries.

    The topic of study is HSBC Amanah which is one of the largest growing Islamic banks catering to the needs of Muslims by serving them with attractive financial products and lucrative financial schemes to population of Islam. HSBC Amanah is headquartered at Dubai and accounts for about 4 Billion USD assets to serve the varied financial needs of Muslim population. The financial products offered by the bank are in accordance with the Sharia principles and through this project, we aim at explaining the management accounting and its application to financial products to manage banking operations
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  • Assignment on the Development of new IFRS to replace IAS 11 and IAS 18
  • This assignment is based on the following requirement –

    The International Accounting Standards Board (IASB) and US Financial Accounting Standards Board (FASB) published the Exposure Draft entitled...More

    This assignment is based on the following requirement –

    The International Accounting Standards Board (IASB) and US Financial Accounting Standards Board (FASB) published the Exposure Draft entitled, Revenue from contracts with customers on 24 June 2010. The proposed standard would replace IAS 18 Revenue and IAS 11 Construction Contracts and related interpretations. The proposal aims to establish a single, contract based revenue recognition that would be applied across all industries and capital markets. The core principle of the draft standard requires entity to recognise revenue from contracts with customers when it transfers goods or services to the customer in the amount of consideration the entity receives, or expects to receive, from the customer. The Exposure Draft follows the discussion paper on revenue recognition published in December 2008 by the IASB. The discussion paper provided the preliminary views of the IASB in developing a revenue recognition model. The IASB received 226 comments on the contents of the discussion paper in 2009 and reviewed them to develop, for public comment, an exposure draft of a revenue recognition standard.
    The proposed standard sets out principles for revenue recognition to be applied to contracts with customers. The key changes can be indicated as follows:
    (a) Identifying and pricing separate performance obligations
    (b) Satisfaction of performance obligations (focus on control)
    These key changes may have significant implications on the revenue figures of the companies who need to follow IFRS. In addition other issues such as indicators of control and the impact of any changes to contractual terms may require further consideration. The Board plans to issue a standard of revenue recognition in June 2011 after evaluation of the comments letters on the Exposure Draft to be received by 22 October 2010. The Exposure Draft and Discussion Paper published by the IASB and the related comment letters on the questions set out in the Discussion Paper and Exposure Draft are available from www.iasb.org.

    Required: You are required to write a report for the CEO of a public group company after reviewing the Exposure Draft, Discussion Paper, relevant comments from interested parties and other related sources. Your report should address and evaluate the issues set out below in a critical way. Good critical analysis involves (Cottrell, 2005):
    • identifying a wide range of other people’s opinions, arguments and conclusion;
    • evaluating the evidence for alternative points of view from different user groups of financial information, such as creditors (banks), shareholders, accounting bodies, managers, audit firms (mainly big four, if available) and other relevant user groups;
    • weighing up opposing arguments and evidence fairly;
    • depth and breadth of reasoning;
    • accounting for why this happens, why it works or fails, why it is rational or irrational, why something is useful or useless; or good or poor. It is not enough merely to list good or poor points;
    • examples providing good support for arguments;
    • drawing conclusions about whether arguments are valid or justifiable, based on good evidence and sensible assumptions.
    The following issues will need to be addressed in the report:
    a. Briefly explain the proposed revenue recognition in the Exposure Draft with appropriate examples, when necessary.
    b. Critically analyze the effects of the key changes resulting from the proposed model on reported revenues in different industries and companies.
    c. Do you think the changes provide clear principles for revenue recognition and a single revenue recognition model will improve comparability over different industries and companies? Why or why not?
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  • Assignment on the history of Management Accounting
  • Initially Management Accounting appeared as an important action throughout the early hours of industrial insurrection, in the most important businesses and ventures of the period. Management accounti...More

    Initially Management Accounting appeared as an important action throughout the early hours of industrial insurrection, in the most important businesses and ventures of the period. Management accounting came into existence subsequent to financial accounting, because initially the need for financial accounting was never felt. It was in due course with the advent of globalization and liberalization that financial accounting came into existence. With less cumbersome work schedules and not much work load double-entry bookkeeping system was in use for more than 300 years by the moment management accounting originally came out as a identifiable pasture.

    The most important industries in the beginning of the industrial era were textiles and railroads, these were the main occupation of the people, and these industries only took part in the important positions pertaining to the history of management accounting.
    Raw resources and manual labor were employed on large scale to make clothes and to link products, and the mills devised techniques to pathway the competence with which they used these inputs. Both these industries, more importantly railroads required important reserves of capital more than extended periods of duration for the building of roadbeds and pathway. Once ready, railroads managed to grip big quantities of cash proceeds from many consumers, and together devised financial and operational events of competence for moving travelers and cargo.
    By the conclusion of the 19th century, novel industries and kinds of trades were becoming significant to the economies of the United States, Great Britain, and other industrializing homelands. These ventures included steel manufacturers, group manufacturers of consumer harvests such as foodstuffs and tobacco, and throng merchandisers such as Sears. Foremost companies in these industries urbanized accounting systems to convene their needs for equipped run.

    Management accounting concepts and techniques sustained to develop quickly all the way through the rest of the first half of the 20th century, and by 1950 the majority of the key rudiments of management accounting as experienced today were well recognized.
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  • Assignment on the topic – ‘Is Accounting a science’
  • N/A...More

    N/A ... Less

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  • Audit plan on Cloud 9 Pty Ltd
  • This report is based on Cloud 9 Pty ltd which was originally founded in 1980 by R.A. McLellan. In this report we are going to discuss the audit plan in which we will state the background of Cloud 9, b...More

    This report is based on Cloud 9 Pty ltd which was originally founded in 1980 by R.A. McLellan. In this report we are going to discuss the audit plan in which we will state the background of Cloud 9, business it carries and the industry that it operates in. We are also going to access the company for business risk and identify the areas where there may be an increased risk of material misstatement. Further we are going to calculate the preliminary assessment for materiality. At the end we will show the flowchart of the accounting process for Cloud 9 and state where we think there might be an internal control weakness in the process. ... Less

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  • Basic investment appraisal techniques focussing on IRR and NPV methods
  • This report is based on the following question -

    Assignment Question
    Discuss the basic investment appraisal techniques focusing, in particular, on two discounted cash flow techniques, namely, the...More

    This report is based on the following question -

    Assignment Question
    Discuss the basic investment appraisal techniques focusing, in particular, on two discounted cash flow techniques, namely, the internal rate of return (IRR) method and the net present value (NPV) method. Illustrate the merits and limitations of the IRR and NPV methods, together with their advantages with respect to accounting-based methods. ... Less

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