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Deceptive Accounting Practices, 2004.
An insight into the various deceptive accounting practices used in recent scandals.
1,758 words (approx. 7.0 pages), 5 sources, MLA, $ 56.95
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Abstract
This report endeavors to present some insight into the various deceptive accounting practices that were utilized prior to the recent scandals. The focus of the paper homes in on two very recent account situations that made media headlines, namely the recent Enron debacle and the latest bankruptcy by United Airlines. It looks a how the results of both of these situations will continue to influence the way all companies in the United States, and even some international organizations, will view and present their finances to the public and other governing bodies, such as the Securities and Exchange Commission.
Outline
Abstract
Introduction
Arthur Anderson
Enron
United Airlines
Bankruptcy
Conclusion
From the Paper
"An example of the sinister ploy Enron executives used to bilk the nation can be demonstrated by the CalPERS natural gas project of 1997. CalPERS was a company that no longer wanted to work with Enron and so they backed out of a big deal with Enron. Enron executives could not afford to lose the derivative effect CalPERS provided so Enron executives created their own entities to replace CalPERS. Enron literally made up companies that were in effect used as derivatives to reduce losses. ?Known as Chewco, it was a partnership controlled by Enron employees, including Kopper. According to the Powers report, Chewco and similar partnerships were engaged in shuffling assets to cover losses and create illusory profits."
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Accountability and User-harm In Accounting, 1989.
A focus on responsibility and regulatory issues and revision of the ethics code. Examples of user-harm resulting from accounting information.
1,350 words (approx. 5.4 pages), 10 sources, $ 47.95
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From the Paper
Introduction
" The purpose of this research is to examine harm to users of accounting information stemming directly from the use of that information. Harm to users of accounting information has resulted from instances of (1) deficiencies in generally accepted accounting procedures (GAAP), (2) inadequate performance on the part of professional accountants, and (3) outright fraud (Dingell, 1988, E2161).
Accountability in Public Accounting
An important development which is in the process of occurring in contemporary American public accounting is a change in the way in which professional public accountants are held accountable for their actions ("National Commission on Fraudulent..."
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Accounting, 2005.
A discussion on managerial accounting and financial accounting.
675 words (approx. 2.7 pages), 0 sources, $ 26.95
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Abstract
This paper discusses the two unique sub-functions within the accounting field: managerial accounting and financial accounting. The specific functions, responsibilities and duties of each function are discussed. Further consideration is given to the ethical implications involved with each accounting division. Enron is mentioned as a prime example of how ethical considerations can not only undermine the financial solvency of a company but, ultimately, can cause its demise.
From the Paper
"The presence of financial accountants and management accountants in most large corporations today is a testament to the complexity of the global economy, the legal and governance rules an entity must operate under, and the sheer amount of information the profession must deal with on a daily basis. Though there are many functions that overlap within these two divisions of the same profession, each classification serves a uniquely strategic function. In general, financial accounting is responsible for the historical financial records and data of a company and is largely responsible for ensuring legal and regulatory compliance. Managerial accounting is responsible for providing interpretive reports of financial accounts which managers and executives use to make operational decisions and devise corporate strategy. "
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Accounting Differences, 2006.
This paper examines the field of accounting and looks in particular at managerial and financial accounting.
2,025 words (approx. 8.1 pages), 0 sources, $ 80.95
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Abstract
In this article the writer discusses the two unique sub-functions within the accounting field: managerial accounting and financial accounting. The specific functions, responsibilities and duties of each function are discussed in relation to the broader field of accounting. Further consideration is given to the income statement and balance sheet and how they are related. Finally, the use of accounting principles and techniques in managerial decision-making is also discussed. The document concludes with a brief overview of accounting.
From the Paper
"Accounting within the business sphere is largely divided into two separate divisions: financial and managerial accountants. The presence of financial accountants and management accountants in most large corporations today is a testament to the complexity of the global economy, the legal and governance rules an entity must operate under, and the sheer amount of information the profession must deal with on a daily basis. The importance of accounting as a basic function of business activity cannot be overstated."
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The Accounting Cycle of Canon Inc., 2007.
An look at the accounting cycle at Canon Inc. and the importance of the accounting cycle to an organization.
1,143 words (approx. 4.6 pages), 3 sources, MLA, $ 39.95
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Abstract
This paper discusses the importance of an accounting cycle for an organization. The paper first goes through the basic steps of the accounting cycle and then looks at them in detail with respect to the selected organization, Canon Inc. It describes how Canon Inc., which is a large organization, makes use of computerized accounting methods.
Table of Contents:
The Accounting Cycle
The Steps of the Accounting Cycle
The Accounting Cycle at Canon Inc.
From the Paper
"The basic purpose of an accounting department in an organization whether it is big (having an independent and separate department) or small (where accounting department is not even a possibility) is to keep a record of accounting data and then process this data into accounting/financial information by preparing financial statements. Keeping in view the basic accounting principles the financial statements should be prepared not only on a regular basis but also on a specific regular time interval (which remains on the discretion of the organization). To meet this objective a proper framework or a series of steps is required that regularizes the whole matter and this is exactly what the accounting cycle is; a series of steps beginning right from the recording of a simple transaction to the compilation of final statements and closing of the accounts."
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Accounting, 2004.
An experimental analysis of nontraditional business students and their perceptions of accounting in an introductory accounting course.
8,583 words (approx. 34.3 pages), 24 sources, MLA, $ 181.95
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Abstract
This paper examines and assesses the perceptions of nontraditional students, or adults, regarding accounting as a major field of study and a potential career choice. It is often assumed that nontraditional students are more motivated because of maturity, life experience, and the decision to study accounting based on work force experience. The paper presents a study of selected Christian university adult and graduate degree programs. In addition, the paper attempts to determine if there are any differences in attitudes, perceptions, and assessments of traditional and nontraditional students regarding this field of study.
Table of Contents
Chapter 1:
Introduction
Problem Background
Literature Review
Purpose of Study
Research Questions/Hypothesis
Limitations/Delimitations
Definitions
Importance of Study
Chapter 2: Review of literature
Chapter 3: Methodology
Introduction
Research Design
Selection of Participants
Instrumentation
Limitations or Assumptions
Procedures
Data Processing and Analysis
From the Paper
"Simply put, for many students, accounting is seen as too much work and very hard compared to other fields of study. The course of study for accounting majors has become more difficult in order to provide expanded coverage within the curriculum to achieve an increased degree of accounting competency. Professional accounting associations have become more concerned and have begun to address critical skills that are needed by accounting majors. The American Institute of Certified Public Accountants (AICPA) and the Institute of Management Accountants (IMA) issued documents in the early 1990s that aligned accounting curriculum more closely to actual accounting practices. This is one reason why the programs have study have become more demanding and stringent. There has been a definite impact on students' decisions to leave accounting as a major. It is one of the few disciplines that have undergone such scrutiny and policy changes regarding educational curriculum."
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Private and Public Accounting, 2007.
A discussion on the differences between government accounting systems and private sector accounting systems.
1,227 words (approx. 4.9 pages), 6 sources, APA, $ 41.95
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Abstract
The paper examines the three major governmental levels that follow different accounting standards. These standards are worked out and monitored carefully by private organizations. The paper explores how the Federal Accounting Standards Advisory Board (FASAB) works out standards for the federal government, while the Governmental Accounting Standards Board (GASB) and the Federal Accounting Standards Board (FASB) deliver standards for state and local governmental bodies respectively. The paper discusses how these accounting standards, at these three levels, differ significantly with those used by the private sector enterprises.
From the Paper
"The fact that shareholders of the company based on the cash flow the management has managed to generate, can any time withdraw the funds or fire the management, is a good controlling tool for the private sector while there is no such a clear controlling tool for governmental bodies. The funds inflow and outflow systems within the public and private sector companies vary: where in public sector beneficiaries do not pay for a piece of product or services they receive and government does not have to be reimbursed with interest for the money it grants to a public organization, in the private sector shareholders demand returns and pay back on cash they invest and clients pay price for each unit of goods they receive."
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Computers and Accounting, 2004.
This paper documents the history of computers and discusses its uses in the accounting industry.
2,124 words (approx. 8.5 pages), 18 sources, MLA, $ 66.95
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Abstract
The paper traces the dispersion of computers in accounting and explains that it is necessary to look at the beginnings of computers and then study the invention of spreadsheets for accounting and their impact on accounting. Finally, the paper examines the effects that computer development may possibly have on the future of accounting. The paper concludes that despite the changes in the accounting industry, this industry will never disappear.
Contents:
The History of Computers
Technology in the Accounting Industry
Accounting in the future
From the Paper
"Whether we like it or not, technology now defines our world. Only once in a lifetime will a new technological innovation come about to touch every aspect of our lives. Such a device that changes the way we work, live, and play is a special one, indeed. A machine that has done all this and more now exists in nearly every business in the U.S. and one out of every two households (Hall 1985). This incredible technological innovation is the computer. The computer started out, in the 1960's, as an accounting tool and has evolved into a high-priority requirement in the 1990's. As we enter the new millennium, it has taken another quantum leap, going from a priority to a prerequisite for doing accounting."
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The New Roles of Management Accounting, 2002.
Discusses how traditional management accounting is adapted to contemporary economics.
3,813 words (approx. 15.3 pages), 22 sources, APA, $ 104.95
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Abstract
This paper examines the applicability of traditional management accounting techniques in the modern market-driven environment, along with the new roles and responsibilities that are vital for thriving management accountants. The paper shows that it is imperative for management accountants to acquire critical skills, namely communication and analytical expertise, comprehensive knowledge in the area of accounting, information technology and the business and the ability to work in a team, so as to fully reap the benefits of the new advanced approaches.
Table of Contents:
1 Introduction
2 The Evolution of Management (Cost) Accounting
2.1 Single-Activity Enterprises
2.1.1 Early Nineteenth Century ? Textile Mills
2.1.2 Middle Nineteenth Century ? Railroad Companies
2.1.3 Late Nineteenth Century ? Large Retailers
2.2 Scientific Management Movement and Standard Costing
2.2.1 The Scientific Management Movement
2.2.2 The Emergence of Standard Costing
2.3 Multi-Activity Enterprises
2.3.1 Return on Investment (ROI)
3 Critique of 20th Century Management Accounting
3.1 Lack of Relevance
3.2 Cost Distortion
3.3 Inflexibility
3.4 Incompatibility with World Class Approaches
3.5 Inappropriate Links to the Financial Accounts
4 21st Century Management Accounting
4.1 The Focus of Future Management Accounting
4.2 The Role of Future Management Accounting
4.2.1 Internal Consultants or Business Analysts
4.2.2 Team Member / Leader and Advisor
4.2.3 Financial Information Specialists and Information System Designer
4.3 Critical Skill Required By Management Accountants
4.3.1 Sound Understanding of Accounting Knowledge and Skills
4.3.2 Comprehensive Understanding and Competence of Business
4.3.3 Communication Skills
4.3.4 Analytical Skills
4.3.5 Knowledge of Information Technology Systems
4.3.6 Teamwork
5 Conclusion
6 Bibliography
From the Paper
"According to a survey by the UK?s Institute of Internal Auditors (2001), communication skills are considered to be the most prized attributes of the internal accountants. The changing role and functions of management accounting entail management accountants to actively participate within cross-functional teams. Thus, it is fundamental for these professionals to possess strong communication skills, as they are required to liaise with managers and guide the firm?s strategic and tactical decisions on a daily basis (McNair, 2000). As such, communication skills are important for these professionals to communicate throughout the organization, which ranges from senior management to support staff levels, as well as vendors, competitors, and other professionals."
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Cash-Based vs. Accrual-Based Accounting, 2002.
An examination of the advantages and disadvantages of cash accounting over accrual-based accounting.
1,394 words (approx. 5.6 pages), 2 sources, MLA, $ 46.95
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Abstract
This paper presents the basic forms and methods of accounting for cash accounting and accrual-based accounting and compares the two. It examines which form of accounting is more beneficial to specific sectors of the economy and looks at the advantages and disadvantages of each.
From the Paper
"In the cash basis of accounting, the business records are "cash in" (deposits to the bank account) called cash receipts, and "cash out" (checks) called cash disbursements. Cash receipts - Cash disbursement = Cash flow. Each month's cash flow is added to the preceding month's cash balance yielding the current month?s cash balance.
The cash basis of accounting is more likely to be used by service businesses than by retail or manufacturing businesses. Service businesses usually do not need equipment and can sell a service they perform with nothing more than their own hands and minds. Think of people who are lawyers, writers, public relations and advertising personnel, and accountants."
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Pension Fund Accounting FAS87, 1990.
This paper is an analytical critique of Statement of Financial Accounting Standards No. 87: Employers' Accounting for Pensions (Financial Accounting Standards Board (FASB), 1985), known as FAS87. .
2,250 words (approx. 9.0 pages), 16 sources, $ 79.95
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From the Paper
"This research provides an analytical critique of Statement of Financial Accounting Standards No. 87: Employers' Accounting for Pensions (Financial Accounting Standards Board (FASB), 1985), hereinafter referred to as FAS87. The essence of the Statement involves the application of accrual accounting principles to pension fund accounting by employers, with a special emphasis on the single-employer defined benefit plan (FASB, 1985).
In this research, the issues involved in pension fund accounting are considered, together with the provisions of FAS87 designed to address those issues. FAS87 is also assessed within the contexts of Statement of Financial Accounting Concepts No. 1: Objectives of Financial Reporting by Business Enterprises (FASB, 1978), Statement of Financial Accounting Concepts No. 2: ... "
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California's Accounting Code of Ethics, 2006.
The paper discusses the accounting code of ethics in California.
912 words (approx. 3.6 pages), 4 sources, MLA, $ 32.95
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Abstract
The paper summarises California's accounting code of ethics which has been formulated for accounting professionals to ensure the practice of the profession with integrity and objectivity, honesty, and according to the best accounting practices. The code allows accounting professionals
to be ethical with their clients as well as the accounting system. The paper further explains the requirements of the California Board of Accountancy. The paper discusses accountant-client privilege as well as accountant work product, i.e. the work an accountant performs for a client is the accountant's work product. The paper concludes with the code violations liable to criminal and/or civil action.
From the Paper
"Ethics has always been an important part of business transactions. Freedoms of information, stricter government regulations and electronic media have made ethics even more essential to business practices. California's code of business ethics expects the accountants and accounting related professionals to be ethical with their clients as well as the accounting system.
"In order to perform their work independently and deal with client-accountant relationship Californian system protects accountant-client privilege similar to that of a lawyer-client relationship with a few exceptions.
The accountants have to carryout their work in a professional manner. Code violations such as fraud, misrepresentation, and negligence could make the client liable to civil or criminal liabilities."
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Accounting for Stock Options, 2003.
A theoretical analysis of recent developments on accounting standards for stock options and a practical application to Cisco Systems, Inc. as an illustration.
4,146 words (approx. 16.6 pages), 38 sources, MLA, $ 111.95
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Abstract
This paper analyzes developments in the accounting field for stock options regulating standards. The writer shows how the accounting technique caused huge controversy among regulators and academics with respect to the treatment of stock options in the financial statements because the primary objective of decision usefulness of financial reporting as well as net income depends on whether or not the company recognises stock options as expenses on a fair value based method in the income statements. It argues that although the recent developments of the accounting standards proceed in the right direction, there are still issues that must be addressed. It shows that in order to solve the remaining issues, it is necessary to improve the qualitative aspects of financial information, such as relevance, reliability and comparability which directly relate to the primary objective of financial reporting.
1 Introduction
2 Historical Developments on Accounting for Stock Options
2.1 APB 25: Intrinsic Value
2.2 SFAS 123: Introduction of Fair Value Based Method
2.3 SFAS 148: More Timely and More Prominent Disclosure
3 Theoretical Analysis
3.1 Fundamentals of Financial Reporting
3.1.1 Objective of Financial Reporting
3.1.2 Qualitative Characteristics of Accounting Information
3.2 Recognition of Expense
3.2.1 What Is an Expense?
3.2.2 Assets under SFAC 6
3.2.3 Liabilities under SFAC
3.2.4 Assets under Exit Value Accounting
3.2.5 Liabilities under Exit Value Accounting
3.2.6 Comparison of the Recognitions
3.3 Measurement
3.3.1 Fair Value Method
3.3.2 Intrinsic Value Method
3.4 Summary of Theoretical Analysis
4 Practical Analysis - Cisco Systems, Inc.
4.1 About Cisco Systems, Inc.
4.2 Applications to the Accounting Standards
4.3 Pro Forma Disclosure in the Profit and Loss Statement
4.4 Market Share Price and Employees Stock Option Incentives
4.5 A Need for Change
5 Conclusion
6 Bibliography
Appendix
From the Paper
"High-tech companies such as Cisco Systems have developed as major global business players during the last decade. One of the devices that many of these companies often applied in the process of their economic growth was a stock-based compensation plan. Such small venture businesses, which were normally deficient in cash in their initial stages, provided employees with the right to purchase their own stocks instead of cash. As a result, stock options could enormously reduce the amount of cash and wage expenses at the same time. Further, entrepreneurs could effectively retain talented staffs by granting them stock options, and could elevate motivation among the employees. However, the series of frauds and corporate crisis over the past year raised the question of accounting treatment for stock options whether the present standards achieve the principal objective of decision usefulness of financial reporting."
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Public Accounting, 1989.
Public interest, attitudes and accountability in Public Accounting. An examination of regulatory and ethical issues, educational requirements and auditing.
1,125 words (approx. 4.5 pages), 8 sources, $ 39.95
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From the Paper
Introduction
"The purpose of this research is to summarize contemporary issues concerning the regulation of professional accounting practice in the United States. The very fact that the general public has demonstrated an interest in the practice of professional accounting speaks volumes with respect to the troubles besetting the profession. Under ordinary circumstances, it would surprise most people both within and external to the profession that the public had any interest at all in public accounting. It is, after all, one discipline, which in the public mind, can compete with economics for the title of the most arcane, and is probably perceived as dull. In spite of such public perceptions, however, there is a public interest in the professional practice of accounting in the 1980s."
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