01. [pic]Sarbanes–Oxley Act Sen. Paul Sarbanes (D–MD) and Rep. Michael G. Oxley (R–OH-4), the co-sponsors of the Sarbanes–Oxley Act. The Sarbanes–Oxley Act of 2002 (Pub. L. 107-204, 116 Stat. 745, enacted July 30, 2002), also known as the ‘Public Company Accounting Reform and Investor Protection Act’ (in …
Capital budgeting is used to plan for the acquisitions of other companies, for the development of new product lines of business, for the expansion of the existing production plants or for the replacement worn-out equipment, and in planning decisions on whether or not to enter …
Corporate Governance Corporate Governance is a reflection of the company’s culture, their relationship with stakeholders and commitment to values. ONGC has a pioneer in benchmarking its corporate governance practices with the best in the world. ONGC Corporate Governance philosophy is based on the following principles: …
1. Even though sales have been increasing, why is Best Electronics in such a cash flow crunch? The poor cash position of Best Electronics is highly attributed to a lack of planning of their cash movement. It could also be caused by the lenient credit …
Off balance sheet finance can be describes as a way of accounting items in the financial statements where assets, debts and other financing activities are found to be excluded from the balance sheet. These items may include a lease, a separate subsidiary or a conditional …
JPMorgan and Chase 2011 Financial Analysis Abbiton Mumba , Bomboma Douti, Thuy Doan, Tracy Nguyen [Type the company address] General Information: JPMorgan Chase (NYSE: JPM) is one of the oldest financial institutions in the United States with a history dating back over 200 years. JPMorgan …
Master budget A master budget is the overall collection of budget relating to the various operation of the firm. It can also be described as a summary of company’s plans that set specific target of sales, distribution, production and financing activities. The major input to …
Chapter 19 Completing the Audit / Postaudit Responsibilities |Learning Check | 19-1. The three categories of activities in completing the audit are (a) completing field work, (b) evaluating the findings, and (c) communicating with the client. 19-2. The activities involved in completing the field work …
Universities are institutions where students pursue higher levels of education. This institution enables the students to study and to conduct research work in various academic fields and after completing and qualifying in their studies they are awarded academic degrees such as the bachelors degree, master …
Universities are institutions where students pursue higher levels of education. This institution enables the students to study and to conduct research work in various academic fields and after completing and qualifying in their studies they are awarded academic degrees such as the bachelors degree, master …
Various users of financial statements (also known as external decision makers) employ accounting information in quite different ways. For example, many individual investors seldom look closely at the financial information contained in an annual report or the quarterly earnings statements that publicly owned companies must …
A risk is the chance of a negative event occurring. Internal controls are policies and procedures set in place to reduce the occurrence of an associated risk. Risks are never entirely eliminated; however, internal controls help reduce the occurrence and balance the risk. This brief …
Accounting Information System (AIS An accounting information system (AIS) is a system of collection, storage and processing of financial and accounting data that is used by decision makers. accounting information system (AIS) consists of: – People – Procedures – Data – Software – Information technology infrastructure What important functions …
Understanding key cost in a firm is the most important issue in management accounting. That is because business survives on value exchange. Customers and business are willing to exchange money and services (products) based on the costs. How products cost can effect a firm’s financial …
Industry averages and financial ratio reports determine the financial health of an organization. Solvent, efficiency, and profitability are compared by key financial indicators and ratios that measure several companies within the same industry. The publicly-traded company chosen by Team A is Complexion. “The largest publicly …
Barnes and Fischer, a national CPA firm, is deciding whether to accept Ocean Manufacturing as a client. Ocean Manufacturing is a medium-sized manufacturer of small home appliances. This would be new to Barnes and Fischer, who has current clients in the healthcare service industries. I …
Case analysis of Sutter Health 1, Case Analysis of Sutter Health Case analysis of Sutter Health 2. Sutter Health is a non-profit network that is made up of community-based healthcare providers based in Northern California. This network introduced an interface aimed at enhancing the facilities’ …
Cost accounting offers benefits for manufacturing companies. A cost accounting information system offers benefits for many companies. Cost accounting is a type of accounting method concerned with the cost of goods manufactured and /or sold. Many factors are taken into consideration when cost accountants analyze …
Major Sources of Revenue: a) Revenue from operations: accounts for 98% of the total revenue of the firm and consists of the revenues from the below categories Information technology and consultancy services: contributes 97% of the total revenue from operations Sale of equipment and software …
Is Malaysia ready for e-voting? Electronic-voting or e-voting has been implemented in campus elections since 2004. Hemananthani Sivanandam looks at whether it should be expanded to cover national elections. THOUGH e-voting has been successfully implemented in some countries such as the United States, Europe and …
Larry Scanlan, in his article about hospital budgeting, presents seven keys to a successful budget. These “reality keys”, as he calls them, are designed to help insure that the CFO and CEO are able to navigate through a difficult process. The first of these is …
3.1 IntroductionIn the old chapter, the treatments focused on developments in the constructs of quality direction, come oning from its original limited function of review to its present province as an built-in portion of concern scheme through strategic quality direction ( SQM ) . This …
In general, ballot devices are used by the voters to record their choice of a leader. The ballot devices are placed in a polling station so that the voters can have the complete privacy for casting his or her vote without any disturbance. Initially the …
The internal control system should be designed to detect and prevent fraud, errors and omissions, and material misstatements, but it can only provide reasonable assurance that the financial statements are free from material misstatements. The best designed internal control system will not prevent management override …
In modern business environment, the use of traditional costing system is no longer relevance to the company to achieve competitive advantage. Nowadays, Activity Based Costing is considered as one of the effective tools to enhance the ability of the organisation to meet global competition. This …
Question 1 1. 1 Conflict & gt ; The pattern of acknowledging and covering with differences in a rational. balanced and effectual manner. Conflict is an uttered battle between at least two mutualist parties who perceive incompatible ends. scare resources. and intervention from others in …
Budgets provide a means for planning the financial future and play a vital role for planning. Budgets simultaneously make managers construct and implement plans, contribute useful information for improved decision making, provide a standard to administer performance evaluation, and enhance organization and communication. An essential …
What is corporate governance? Contemporary corporate governance started in 1992 with the Cadbury report in the UK Cadbury was the result of several high profile company collapses is concerned primarily with protecting weak and widely dispersed shareholders. Corporate Governance is a mechanism through which boards …
Introduction Globally, there are figures of accounting criteria, most of all, two primary accounting criteria are International Accounting Standards implemented by the International Accounting Standards Board and the Generally Accepted Accounting Practice of the USA, which is implemented by the Financial Accounting Standards Board. Accounting …
The disadvantages of line item budgeting, according to Martin (2001) line-item budgets say nothing about how much service a human service agency provides, the cost of that service, the number of outcomes the agency accomplished, or their attendant costs. Another disadvantage is it limits the …
Career path
You typically begin in an entry-level accounting position as a staff accountant. After several years, you're likely to advance to a role as a senior accountant before moving up to a managerial position. Ultimately, you may rise to a coveted position as partner.
Year
An accounting year is a period of time, usually 12, during which businesses calculate their accounts and organize their financial activities. The accounting year, also known as the accounting period, occurs usually on any date other than January 1st to December 31st.
Basis
The accounting basis determines how financial transactions are recorded within the financial statements. There are multiple accounting bases used to prepare financial statements. A few of the most common are as follows: 1) Cash Basis of Accounting; 2) Accrual Basis of Accounting; and.
Different ways
The two main accounting methods are cash accountingcash accountingWhat Is Cash Accounting? Cash accounting is an accounting method where payment receipts are recorded during the period in which they are received, and expenses are recorded in the period in which they are actually paid. In other words, revenues and expenses are recorded when cash is received and paid, respectively. Cash Accounting Definition & Example - Investopedia and accrual accounting. Cash accounting records revenues and expenses when they are received and paid. Accrual accounting records revenues and expenses when they occur. Generally accepted accounting principles (GAAP) requires accrual accounting.
Accounting books
Accounting organizations
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