The current ratio is a liquidity ratio that measures a company’s ability to meet its current obligations using current assets. Current assets comprise of cash and all other assets that a company expects to convert into cash or sell or consume within approximately one year of the reporting date. Current...
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ERPsim is a software developed to assist learners gain practical knowledge of running businesses. The learners are profit-maximizing managers. The net income earned affects their decisions. This is indicated in each simulation stage. Students therefore, are required to continuously make adjustments in order to maximize the profits. The lesson design...
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The Home Depot Inc., also known as Home Depot, is an American retailing company that focuses on home improvement. Home Depot provides tools, construction products, and services that are aimed at aiding efforts of home improvement. Home Depot Inc. is headquartered in Atlanta, at the Atlanta Store Support Center, in...
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While there will be a favorable amount of savings for Mowerson in the year 2002, Jim Wright should have analyzed the potential savings or losses that Mowerson would experience over a five-year period, at least. This is because the hiring and firing of certain individuals may affect the firm’s production...
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Any organization is composed of a group of individuals working with various resources to accomplish a given common goal. Organizational structure defines the lines of power and authority among the individuals which in turn allocates specific levels of duty to each party. Accounting is vital in enacting the levels of...
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According to the company’s latest annual report, the audit for the company is conducted by US Customs and Border Protection. The report is an example of a unqualified report. Specifically, the auditor makes a conclusion that most matters were handled adequately. The report does not state that Steve Madden is...
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Home Depot, Inc is the global biggest home improvement retailer as per the 2017 fiscal year. The enterprise provides its customers with an assortment of building materials, lawn and garden item, home improvement items, decor product and gives a couple of services (Bruner, 2018). As of 2017 fiscal year, the...
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Management of a company requires a maximum application of managerial skills. The manager should be in a position op providing the highest standards of ethics geared towards bringing a positive change within the premise. An organization manned by a poor manager is prone to fail within a short period of...
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In business accounting, record keeping and financial statements are one of the fundamentals. Basically, by definition liabilities are financial obligations of a company – the finances that a company owes to other stakeholders. Liabilities are recognized when they meet the following four criterions according to the FASB (Chase). One, when...
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In examining the annual report for Amazon inc., there are a number of sections that are of use to any interested party. One of the sections includes the determination and recognition of revenue. For the determination of revenue, a number of figures and assumptions are put into consideration so as...
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According to FASB, accrual accounting is superior to cash accounting. This is because accrual accounting utilizes the caution and equivalent concepts. For instance, accrual-based accounting shows the responsibilities and available resources of the organization. Thus, accrual-basis accounting has a more precise description of the financial status. When utilizing cash-based accounting,...
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Board for Accountants (IESBA) is an ethics regime that, through its Code, seeks to hold up the standards of accountants. It is often compared with the Code of the American Institute of Certified Public Accountants organization (AICPA Code). While both codes have similar purposes and attempt to cover the same...
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A private investment company has three available investment opportunities. They are: investment in real estate development, investment in retail franchise, and investment in a restaurant franchise. Each of the opportunities will pay off in ten years. However, the company has just enough money to invest in only one of the...
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The Accounting Standards Update (ASU) 2014-09 was published by the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) as an improvement to the existing revenue recognition standard. The implementation of the new revenue recognition standards is expected to bring about numerous issues related to information disclosure,...
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I. Financial statements serve an important role, as they allow an organization to demonstrate its financial health and viability to both internal and external interests. They are used for measuring performance for internal individuals as well as allowing outside investors to accurately judge the state of the organization. Balance Sheets,...
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From research, it is evident anyone can be involved and commit fraud and these perpetrators cannot be differentiated from other persons based on their demographic or psychological traits. Fraud perpetrators profiles tend to be highly appealing and appear honest (Lokanan, 2015). For instance, in the case scenario “Darren Jones and...
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The world of accounting has a number of different career options for students who have gained the necessary educational credentials. The field is known for providing jobs that are full of security with relatively low upside. Because it is a technical field, accountants tend to have solid job prospects with...
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1. Based upon a balance of $5,270.00, what would be the minimum monthly payment (assuming no other fees are being applied)? Assuming that the annual percentage rate for this credit card is 15.53%, and that the minimum monthly payment for the card issuer is 2%, the minimum monthly payment for...
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Research Topic: Best practices in post-acquisition audits for small and mid-size corporations in the United States. Research Motivation: The motivation for this research topic - the best practices in post-acquisition audits - stems from several places. First, the likelihood that a publicly-traded company will merge with, be taken over by,...
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Finances are an integral part of any organization’s success. The financial aspects of organizations are important, and it is important to analyze them from time-to-time. In particular, the process of analyzing their financial status burdens organizations with a diverse sense of operation such as healthcare organizations. The financial analysis process...
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One of the potential career paths for someone with an education in accounting is financial analyst. Financial analysts help individual and business clients with investment decisions. The minimum educational requirement for a career as a financial analyst is usually a bachelor’s degree in Finance, Accounting, or a related field. The...
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Introduction This part gives a brief background on the topic under discussion. Earning management is defined as the practice of harmonizing a company’s earnings to counter inflations. Normally, businesses face varying challenges within the environments they operate which affect their profitability in the short term. Since most investors prefer stable...
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Technology continues to change the accounting profession. For instance, accountants are increasingly using data frameworks for tax evaluation and collection, administrative auditing, and financial bookkeeping. The field is also experiencing advancements reporting, especially following the emergence of the extensible business reporting dialect (XBRL) (Wadhwa and Harper, 2015). Information systems of...
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Abstract Within the accounting profession, one of the most crucial duties of any organizational member at a firm is the detection and deterrence of accounting fraud. While fraudulent activity is by no means a commonplace behavior at the majority of accounting firms, it occurs from time to time, and must...
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Abstract In her article Eight Ways SOX Changed Corporate Governance, author Melissa Maleske lists key provisions of the Sarbanes-Oxley Act (SOX Act) that have predetermined the future of SOX, and made inroads for Managerial Accountants who work for publicly-listed companies to take proactive measures to assure the ethical and compliant...
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