Accounting Essay Examples and Topics

In this regard, the suitability of the adopted cost allocation strategy is influenced by the nature of the products and the consistency of the production process.

The initial cost of investment for Sneaker 2013 can be calculated as: Tables 1 and 2 show total cash flows and discounted cash flows for Sneaker 2013 for 2013-2018.

Financial accounting and reporting, therefore, need to work under the supervision and standards set by accounting regulatory bodies, to provide credible accounting information and reports to their clients.

This paper focuses on analysing accounting purposes through the identification of various users in the societies, and the implications drawn from accounting needs and functions as this discipline serves the interested parties. Accounting helps in [...]

Rule based accounting on the other hand applies the rules that limit flexibility and judgment of the financial statements preparers. The judgments and interpretation of the financial statements are dictated by the rules and not [...]

In 2015, the food giant Kraft Foods Group merged with fellow food processing company Heinz, forming the Kraft Heinz Company, which is now the fifth largest food and beverage company in the world by sales.

Therefore, job order costing in a production company involves allocating costs to inventory and after that cost of sales when the job is finished.

Net income of the company increased significantly from $4,607 million in 2016 to $7,628 million in 2017. The historical income statements for the company can be found in Table 1 and Table 2.

Moreover, even though accounting is a theoretical subject with many rules and exceptions, the usage of needed laws to make the balance sheet and statement of income the most effective for the firm is a [...]

A brief background of Procter and Gamble The current staffing issues facing the accounts department at Procter and Gamble are very relevant in determining the strategies, structures and practices to be assumed in order to [...]

The aim of this paper is to compare the audit fees of three companies: Walmart, Bank of America, and Aetna. The analysis of differences in audit fees paid by Walmart, Bank of America, and Aetna [...]

This has affected accounting as it has enabled easier provision of information to different groups of people through assortment of data to be handed to the financial accounting and management accounting.

According to financial terms, goodwill is defined as the net difference between the actual value of the business as a whole, and the fair value of the inseparable net assets.

The Walt Disney Company employs break-even analysis to determine the point at which total revenues equal total costs; therefore, it assists in understanding the level of sales necessary to cover all expenses.

One of the main reasons why the company's customized AIS failed in preventing fraud is because the system existed in such a way that entry of information into the data system regarding sales, purchases, and [...]

Top executives of Nortel Networks Corporation rather supplied cooked-up figures to the Board and the audit committee and based on the representation's made b the Nortel top management, they approved the quarterly results and the [...]

The two main theoretical approaches in accounting theory are the normative approach and the positive approach. The methodology used in research and development of normative approach depends entirely on standardised accounting principles to validate any [...]

The first section of the paper provides the analysis of an appropriate form of business organization selected for Cookie Creations with reference to possible benefits and weaknesses, the discussion of the accounting information required for [...]

The rhythmic accounting rap song Debit Credit Theory by Colin Dodds is an excellent way to remember that debit's location is the left side of the account, and credit's location is the right one.

As a result, accountants can now generate reports and analyses that provide a comprehensive picture of the present situation and are helpful for management operations thanks to the acceleration of accounting information.

The expansion of the global interactions especially in terms of the global market is what led to the need for the enactment of international standards.

The accounting systems and practices in a country are determined by the political and economic system, the ownership patterns, legal and taxation system as well as the cultural values.

Walmart originally sold common stock to the public in 1970, and the company's stock began trading on the New York Stock Exchange on August 25, 1972, marking the company's debut on the stock market.

A client involvement in the therapy process will determine the therapy outcome in addition to quality of the treatment choice. For a counselor, it is crucial to approach this process with honesty and responsibility in [...]

In addition, auditors are required to provide the credibility of the information regarding the firm's financial position, whether the firm complies with the stipulate financial accounting standards in reporting and its financial performance. This represents [...]

Due to fluctuations in economies, all organizations need to take into consideration concepts of the time value of money in any investment venture.

A director needs to characterize the particular accounting needs of the organization or industry and select a framework that meets these necessities. The paper will summarize the accounting standards and compare the similarities and differences.

A company's revenue should be determined only when the reward and risks of ownership are transferred to the buyer, and the amount of consideration can be measured. The matching concept is a practice whereby expenses [...]

Revenue is recognized as soon as the service or product is supplied to the customer. To achieve revenue recognition goals, accounting professionals must take the following actions: make contact with a client, and recognize revenue [...]

The Website of the accounting software recommends a system configuration of "1 GHz Intel Pentium III for single user and 1.

Ball argues that IFRS has an inherent advantage in the way it views the subject of quality in accounting. Conventional setters of accounting standards assessed quality in terms of the reliability and relevance of information [...]

The article draws attention to the problem of fraud in the accounting profession. The author refers to the issues and potential of Accounting Information Systems, particularly Blockchain technology, to detect and prevent fraud in corrupted [...]

Apple’s most significant sources of cash from operating activities in 2016-2018 are net income, depreciation and amortization, and accounts payable.

The market concentration, the function of the number of firms, and their respective shares of the total production in the market, can also be judged and analysed for a better understanding of the company's overall [...]

This paper is organized in different parts that are as follows; the introduction, framework and background, conceptual framework, value and limitations of the international financial reporting standards, financial reports of the given companies, and qualitative [...]

The difficulty in estimating a share price for Tesla is that, according to the forecasts, Tesla's debt/equity ratio is constantly falling, which means that the WACC would need to be adjusted for the periods with [...]

However, it should add that before developing a cost reduction strategy, it is necessary to establish a systematic accounting of expenses in all areas of the company and its divisions.

The Industrial Organization or IO perspective assumes that the industry is definitive regarding the opportunities for the businesses' economic profit since some industries are just more profitable than the others.

By implication, government institutions act in accordance with the approved guidelines when publishing government expenditures and financial statements. To understand the implication of effective budgetary control, we must highlight the importance of the government-wide statement.

The objectives of the audit are to identify and describe the objectives of the audit engagement and services that will be provided to the client by the audit team and to define the responsibilities of [...]

Effective planning is one of the key pillars of this process and focuses on essential areas of the audit such as ensuring that there is adequate allocation of resources to the auditing procedure.

The farming industry of the nature of John and Mary falls in this category however with such a management accounting system like the one portrayed, then the management is likely to be more easy and [...]

The financial plan is the basic component of the business plan as it provides the feasibility of a project and enables the investors to make logical decisions regarding the acceptance and rejection of the project [...]

Companies decide on the nature of the information they need to include in their financial statement footnotes by adhering to Generally Accepted Accounting Principles and International Financial Reporting Standards. The purpose of footnotes is to [...]

Accountants begin to record business transactions in the general journal and eventually post the entries in the respective accounts of the general ledger.

The initial step will be to notify Walmart's management and the relevant departments about the audit and formally request the documents to be used in the process.

Originally, statisticians resort to numerous tools which are often utilized for general business improvement and industrial problem solving.

This analysis is expected to know how the company invests and manages its assets that would tell its financial stability prospects and the future.

Analysis of the manufacturing costs of the product will act as a guide for setting the price. The journal entries below are for the cost of manufacturing a single combine harvester.

To understand the accounting costs that are associated with the production of beer, it will be important to understand the raw materials and other costs that are incurred in the processing departments.

To reflect the true balances at the end of every financial year of the business, it crucial for the journal entries to be adjusted accordingly since the balances are utilized in drawing other financial statements [...]

The contribution margin is the amount of income after the fixed costs have been met. Caldwell and Welch describe CM as the amount of income that the company realizes less the fixed costs.

The Balanced Scorecard is a tool utilized in corporations for the purpose of compensating workers in a way that is beneficial for both the management and the workforce. Usually, achievement of the goals and objectives [...]

Eliminate worker autonomy, increase daily targets and productivity by 70% - 30 points. Decrease worker autonomy, increase daily targets and productivity by 65% - 20 points.

The income statement also known as profit and loss account is a financial statement that is used in reporting the operating performance of a business entity over an accounting period.

In reference to Crowther, social accounting can be defined as "an approach to reporting a firm's activities which stresses the need for the identification of socially relevant behavior, the determination of those whom the company [...]

The Government Accounting Standards Board and the Financial Accounting Standards Board make up the Generally Accepted Accounting Principles board. This is because the modified accrual accounting avails information regarding the assets and liabilities of an [...]

This is due to the fact that management accounting is for decision making and thus it is used for planning the future of the organization while financial accounting is for the reporting of past operations [...]

Several factors can influence how a company builds its capital structure, such as the company's stage of growth, the industry it operates in, its cash flow, and its risk profile.

The key difference between a contribution income statement and a traditional income statement is that the former focuses on the impact of changes on the profits, whereas the latter emphasizes the net profit.

Samsung is one of the largest organizations in the technology industry, linked to its philosophy of orientation concerning a wide array of electronic devices tailored to individual populations.

An example of such a model for a manufacturing company that combines the integrative approach of MFCA and BSC is shown in Table 1.

The associated theory is relevant in the application of the fair value model because it defines the value that a business generates for its shareholders.

The primary purpose of the classification of costs in the management accounting system is the systematization of information about the quantitative and qualitative characteristics of costs for information and analytical support for managing an economic [...]

The Texas State Board of Public Accountancy was formed with an aim of "protecting the public by ensuring that persons issued certificates as certified public accountants possess the necessary education, skills, and capabilities and that [...]

The revenue and collection cycle have inherent risk in sales and accounts receivables such as the time of recognizing revenue, the effect of abnormal sales terms, sales with significant returns and shipping of goods reported [...]

However, it is important to note that even when both the debit and the credit sides of the trial balance are equal it does not mean that the trial balance is correct. To correct the [...]

Despite the fact that the fair value method is a newer, supposedly better method than the traditional model and enjoys the backing of major international accounting trend setters, there are many critics who contend that [...]

In these case study relevant costs has been identified as direct charitable expenses and program and administration expenses directly attributable to the programs to be undertaken. The relevant costs will be direct charitable expenses and [...]

The reporting segment has been defined by this standard as a segment that is involved in the business activities of the entity and earns revenue for the entity and incurs expenditure for earning such revenue.

I strongly believe that time is a valuable resource and spending it on things that do not contribute to the success of a project is the same as wasting money to buy something unnecessary.

I am anxious to combine the knowledge and aptitude of these skills with a master's degree in accounting. I want to acquire professional skills and abilities that would enable me to contribute to the economic [...]

TripAdvisor can implement the TDABC to determine utilization of capacity for travel and booking. TripAdvisor can go further to calculate the cost of every time unit for every employee based on service delivery and employees' [...]

Generally Accepted Accounting Principles and the Sarbanes-Oxley Act provide the sets of the accounting principles, standards, and procedures which the companies apply to form the financial reports GAAP is the combination of the authoritative standards [...]

The financial reports of The GAP, H&M, and Inditex are expected to differ significantly in some components because The GAP follows the US GAAP while the others use the IFRS standard.

For instance, in government accounting the focus is on the flow of financial resources and not economic resources as the case is in other forms of accounting.

In this regard, absorption costing does not differentiate between variable costs and fixed costs thus cannot be used in Cost Volume Profit analysis; on the other hand, variable costing which does differentiate between variable costs [...]

They take the data from balance sheets and income statements and convert the values in dollars into percentages. Moreover, one can use common-size financial statements to compare one firm's data with the industry's best and [...]

The aforementioned fluctuations provide opportunities for the misrepresentation of the company's true financial position through the alteration of statements to suit specific geopolitical events and circumstances. There is a high degree of subjectivity in the [...]

The integration of big data and AI is one of the developing approaches in auditing. Although big data and AI are crucial trends in auditing, the use of big data is more concerning.

Another advantage of the Trial Balance is that it helps to provide a snapshot of the company's financial position at a particular time. In conclusion, the Trial Balance is a valuable tool for checking the [...]

In addition, accounting has become an integral part of almost any business, and therefore the widespread use of such methods leaves open the question of optimization and creation of a better approach, given the capabilities [...]

The first undeniable connection between accounting and marketing lies in the financial terms of marketing. Moreover, according to Matsuoka, accounting and revenue accounting, in particular, contribute to the plan and control of marketing through the [...]

The process diverts the organization's objectives because the extra spending is not to add value but to avoid a reduction in the amount of the next budget.

The cost identification of the carrying amount of land, plant, and equipment ceases to be recognized when the asset is in the state and condition required to function in the manner expected by the management.

The primary trend in the policymaking of the EU in the decade before 2007 was to encourage transparency of companies' performance for investors.

The fraud involves the use of certain types of chemicals to make the figures on the cheque be invisible and then the cheque which appears as blank is filled with the desirable amount.

On the other hand, the lessor may find leasing attractive because once the purchase of the asset is complete at the inception of the lease the asset is handed over to the lessee and therefore [...]

The Chief Financial Officer in the company, which is a milk production firm, known as Milk One Limited, has to decide on whether the company will be using the process costing method or the job [...]

For the case of king, he deliberately took the appointment without putting in place any precautions to ensure that the conflict of interest is reduced to the minimum.

If the net profits are low, it would indicate that the company is experiencing a high level of expenditure and cost of sales.

It is possible to say that Sam Walton relied on the principles and concepts of managerial accounting to improve the decision-making and planning in his company. Apart from, that Sam Walton used the principles of [...]

The physical Measure of Output method allocates the joint costs based on the physical aspects of the products. Absorption Costing is one of the methods used to allocate joint costs in a manufacturing facility.

When the client of the company showed intention to purchase from the company, the bookkeeper recorded the transaction as a sale and indicated that some of the stock had left the company.

In 2010, the company had declined and recovered in 2012. However, in 2012, the company reported an increase in the value of the margin to 40%.

Recognition of losses from impairment of long- lived assets is an effort of declaration of fair value of such assets on a reporting date.

Under the indirect approach, the first item that is presented in the operating activities section of the statement of cash flows is net income, which is then adjusted.

This paper aims to discuss the characteristics of such concepts as variable costs, fixed costs, mixed costs, and job order costing as a part of healthcare services.

The critical element of the analysis is to assess which of the two models is beneficial for the buyer. The contribution margin of the hybrid car relative to the traditional vehicle is calculated by subtracting [...]

This is the opportunity cost he loses the accounting job in order to run the lemonade stand. The opportunity cost of the lemonade stand is provided in the simplest kind.

It was these scandals as well as unethical accounting practices that prompted the United States government to enact laws that aim to curb the occurrence of such behavior in the future.

This phase delineates all the activities related to the process of documenting all the available financial information and entering it into the database of the company1. The fourth stage of the accounting cycle is the [...]

The balance sheet of the company indicated that the company's goodwill was impaired and recorded according to IAS 38 Intangible Assets.

The primary goal of financial reporting is the provision of financial statements to the relevant uses for the purpose of making credit and informed investment decisions.

In addition, the users of the system do not have to worry about downloading the latest version of the software. Sage 50 Pro Accounting is the latest version of the software.

The balance sheet for the Lemonade stand business is got from the data in the journal and the general ledger; and is a summary of the final figures for the account held by the Lemonade [...]

Financial accounting refers to the type of accounting that deals with preparation of financial statements, using accounting techniques, for financial reporting.

In the use of the intranet all the personnel that carry out their activities in the hospital are served and especially the top management of the hospital, the hospital uses an information management system and [...]

Nevertheless, the business is still lacking $ 76 508 to pass the break-even point when the investors consider the company as an investment in a profitable company.

The design connects the conceptual research challenge to relevant and doable empirical research. Interviews provided accurate and consistent data relevant to the research questions.

The basic principle of calculating the cost is the division of costs into direct and indirect and the attribution of both types of costs to finished products.

In some cases, there are some organizations where employees have a culture of timely and perfect deliveries, and this becomes the culture of the organization. As seen in the health sector, the employees and the [...]

She is considering confronting the sales representatives that seem to be creating the fraudulent sales, the sales manager of the Dayton region, the VP of sales, her boss, or a friend of hers on the [...]

The data also shows the emergence of new CMAs around the world, and most of them are from Asia and the Americas. At the same time, the study observes the absolute growth of the CMA [...]

It is therefore imperative for the accounting systems to be designed in such a manner that they meet the needs of the organizations and assist them in managing their accounts and at the same time [...]

Based on the review of the company's financial statements and relevant sections of the annual report, four key audit risk areas have been identified and discussed in this report by using the integrated reporting concept.

The graphical representation of the sales cycle assisted the auditor in analyzing the strengths and weaknesses of the company's control activities.

The company officials will attend to them online and get all the relevant details in relation to the parcel and the customer.

Technological elements such as accounting software and accounting application devices also play a significant role in the CPA. The introduction of the first computer in the 20th century and its advancement for over 50 years [...]

At the beginning of the financial year, the interest rate was low but shifted seamlessly because of the Federal Reserve policy.