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Finance & Accounting Essay

Auditing
Such behaviours are unethical but are being practised for the lack of strict monitoring by authorities. It is therefore imperative that standards be set and properly instituted through statutes to provide effective deterrent to potential violators. Furthermore, the low cost auditing services proves to be a major reason why most auditors are resorting to unethical practices of the profession to augment their income. Standards have to be upgraded in terms of professional fees for auditors to
Pages: 7 (1750 words), Essay
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Analysis of the Two-year Financial Results Posted by Bogus Limited
In view of the increase in the company’s earnings per share, which grew from 0.12 to 0.18 annually, potential shareholders may derive benefits from investing in the firm.  This is because Bogus Limited’s earnings per share trend indicate that the bottom line earnings available to shareholders are steadily growing. 
Pages: 7 (1750 words), Essay
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Accounting for Corporate Accountability
(Deecan and Unerman, 2006).Social and environmental reporting has become a more common practice since the early 1990s although it is still being produced by a limited number of companies worldwide. It is a standard practice today for most multinational companies to disclose a social and environmental report along side their consolidated financial statements. Increasing use has been made of the internet to disclose this information as well as to dialogue with a variety of stakeholders about
Pages: 3 (750 words), Essay
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An evaluation with recommendations of electronic banking, with particular reference to user ability and security issues
Banks operating in the international market; however, the performance of this scheme is differentiated in accordance with the market conditions but also the potentials of banks to develop appropriately customized e-banking solutions. On the other hand, existing e-banking schemes present a series of weaknesses, referring mostly to the security and the accessibility offered to their users. This problem has been addressed by introducing technologies and policies that can increase these system’s
Pages: 28 (7000 words), Essay
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Auditing Maintenance Systems
The main objective of conducting this audit is to identify and then eliminate the reasons behind the downtime of the plant activities in order to acquire further improvements in performance of the plants. Establish the key indicators for the current performance of the plant within the maintenance, operation and production departments. Determine how these key indicators affect the performance of the H-Acid plant. Determine and measure the steps for viable increase in the production output of the
Pages: 15 (3750 words), Essay
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Analysis of published financial information for CRODA ( company name is Croda )
All of its subsidiary company around the world has targeted sales, operating margin, profit growth targets that form fundamental to their strategic plans and budgets. Croda’s report their progress annually against five major financial performance parameters.According to Croda’s annual report 2009, Croda International Plc has prepared its financial reports as demanded by the Companies Act, 2006 of U.K and as provided by the U.K accounting standards and its group financial statements have
Pages: 6 (1500 words), Essay
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A Case of Lengthier Annual Reports
Essentially, the many rules that are brought up in recent years are also being blamed for the consistently rising trend in annual report length.However, the Financial Reporting Council (FRC) of UK points out that company reports in general are trying to please too many users at the same time, hence the almost unstoppable increasing trend in the length of annual reports (UK FRC, 2010). Preparers try to put in as much additional information as they can in an attempt to make the reports as
Pages: 4 (1000 words), Essay
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Accounting Changes (#2)
In this case, the net profit of $33 million was translated to a net loss of $46 million due to a tax benefit reduction by over $ 80 million (Office Depot, 2010). The resulting loss meant that the common shareholders had to get $30 cents per share from the previous $1 per share. Following the removal of the tax receivable, the operating cash flows of the 2011 financial statements were adversely affected. However, the restatement did not greatly affect the overall 2010 operating cash flows.Like
Pages: 3 (750 words), Essay
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Accounting and Finance: Healthy Start
As mentioned, the product is in the mature stage which means that the product is a standard product but the growth scenario is low. The company is having strong buyer and high entry barrier because of the cost and value benefit provided by it and also because of the customer loyalty. It is the reason that they are expected to generate good cash flows for the next few years. In order to use these net cash flows to stimulate new products and to move into new markets, the managers have to follow
Pages: 7 (1750 words), Essay
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Accounting,Sustainability and Ethics
Business ethics refers to the form of professional or applied ethics which examines moral problems which arise in a business environment (Elliott and Elliott 2011, p. The ethics include observing the law, enhancing social welfare, maintaining good corporate governance and taking part in social corporate responsibility. It has become a common practice in the organizations to link their strategies with the sustainability and ethical initiatives. Many of these organizations are undertaking huge
Pages: 6 (1500 words), Essay
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Audit
Recent news that European Parliament has voted for bringing mandatory auditor rotation into the EU region has once again reminded to the global society about the necessity to improve auditor’s independence and stressed the importance of this measure. The aim of this research was to provide an overview of the auditor's independence and the mandatory auditor rotation and to analyze whether compulsory auditor rotation will improve the overall auditor independence and audit quality. Under
Pages: 8 (2000 words), Essay
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Article brief on the article attached
SEC alleged that WorldCom purportedly exaggerated its” revenue before interest, taxes, depreciation and amortization (EBITDA)” in 2001 and in 2002 (SEC Annual Report 2002). HealthSouth Corporation of USA ordered the accounting personnel’ of the company to inflate the revenue to match the Wall Street analyst’ projections (Soltani, 2014, p.In 2003, the Royal Ahold in its Columbia –based U.S Foodservices unit indulged in excess of $880 million in accounting irregularities. Royal Ahold,
Pages: 3 (750 words), Essay
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Auditor Reporting- The IAASB's #1 Priority
The auditor reporting project is based on academic research and is being done by several groups who are reputable and interested in the agenda. These groups include: the European Commission (EC), the U.S Public Company Accounting Oversight Board (PCAOB), and the UK Financial Reporting Council (FRC) (Healy 2014, par. 9; Singh 2013, par. The joint effort by the international bodies is expected to give integrity and credibility to the current audit report. The task force was supposed to revise the
Pages: 7 (1750 words), Essay
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Analysis of Zircon Cars Company
Consequently, the 2018 sales, 1,102 cars, will generate 56,281,042,052 Korean Won currency amount total global sales (Needles et al., , 2010.Further, the same table 2 shows the company’s increasing fixed costs for the three year period. The 2016 fixed cost amount is 15,404,800 Korean Won currency amount. The 2017 fixed cost amount is 16,660,291,200 Korean Won currency amount. The 2018 fixed cost amount is 18,009,933,456.64 Korean Won currency amount (Wickramashinghe, 2012,p.Furthermore, the
Pages: 12 (3000 words), Essay
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Auditing Practices, Professionalism, Ethics, And Standards
According to many experts, auditor independence may also be used in reference to the external auditors’ exclusion from parties that may have fiscal interests in the businesses being audited. Generally, achieving independence is critically essential for the auditors to be able to effectively retain their objectivity and service reliability.According to Sikka (2008, p.271), the current auditing practice of making auditors depend on their directors for their fees, remunerations and profits has
Pages: 8 (2000 words), Essay
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Assignment 3: Fraud in the AIS
Andersen LLP released a statement stating that it acted according to the professional standards and that the internal audit could not be relied on in relations to the accounting manipulations. Arthur Anderson had acted in collusion with top management at WorldCom to falsify the company’s profits with the aim of increasing its stocks. The company’s audit committee in turn replaced Arthur Andersen LLP with KPMG to further investigate the matter. This led to the discovery of fraud,
Pages: 10 (2500 words), Essay
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Accounting Theory
The accounting theory that would be relevant in relation to this article would be the implementation of accounting application that the company might use so as to revive from the crisis.
Pages: 7 (2250 words), Essay
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Auditing Theory
Ordinarily, a 38.08% increase in turnover should lead to a corresponding increase in debtors. The debtors have increased by 54.75%. The number of day’s sales in debtors has increased from 110 to 123. This means that unlike 2004 when on average debtors were taking 110 days to pay in 2005 they are taking longer i.e. 123 days on average to pay.
Pages: 10 (2500 words), Essay
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Accounting Without Credibility Is Worthless
If financial information is manipulated in order to achieve a given result instead of merely reporting faithfully reports on economic events and activity, it is obvious that the resulting information will be biased (Solomons 1986). This is against the principal of neutrality as neutral information is biased.
Pages: 7 (1750 words), Essay
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Action Plan of an Accountant in a New Manufacturing Environment
In the manufacturing industry, many processes of manufacturing are involved in delivering an end product that will meet the quality and satisfaction of the target market.Some are associated with giving manufacturing recipe and formula which is known as process manufacturing.
Pages: 2 (500 words), Essay
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