Accounting Sample : Page - 10

Background and ContextThe auditing system is a methodical platform that measures the effectiveness with which the financial statements incorporate the true facts and figures regarding the financial performance of any firm. The internal and external control of auditing facilitate the process of evaluation of the financial statements as well as the accounting information that are being incorporated within the annual reports that reflects the fin...

Cut Off Risk AssertionAlmost all auditors are deemed to be some obligations that are evident in investigating and evaluating the financial statements of companies so that it might be made certain that they do not encompass any type of material misstatements due to any error or frauds. The stakeholders related with these companies in order to analyses the fairness and honesty within companies financial statements. At the time such financial sta...

Feasibility analysisSystem is composed of different procedures that are brought together to complete a particular designated task within a specified period of time while information system is just a software used to give a particular data to it’s users. Information system in most organizations are managing and processing data as soon as the users request for the data. It can as well be used for planning long term activities in an organiz...

InvestorsThere are many instances where the auditors have performed below the standards audit and were not able to provide the needed assurance dependably; and this whole aspect creates major risks for the key stakeholders of the companies (Hay 2015). This report takes into consideration the evaluation of Origin Energy’s key stakeholders as it would be helpful in measuring the effects of material misstatements on their decisions. The sec...

The importance of auditors doing their job to prevent material misstatementThe auditor’s report serves as a reasonable assurance as to the quality of audit being conducted and shows that the accounts of the company have been prepared without errors, omissions and material misstatements.  It has direct repercussions on the decision making by the stakeholders and hence it warrants for due diligence and utmost importance. Greg Medcraft...

About Lincoln University Dairy FarmLincoln University Dairy Farm (LUDF) is a farming development facility which looks after the advancements of farming practices which occurs in the South Island area. The firm is also indulged in development of dairy farming as well as other types of farming activity development in the area across the Canterbury Region. It is important to consider that the organization has created different stages of advancing...

Cabbies Concerned About System Tracking and CostThe selected software is the SIMANTIC IT Preactor APS can be defined as the type of software which are used for the purpose of planning the production and scheduling all the essential aspects of different medium, large and smaller sized business organizations. Advanced mathematic algorithm and used for the calculation and analysis of the production modules considering the constraints and variab...

Investment Policy StatementThe investment portfolio is a crucial aspect in finance studies as the matter is considerate of lots of success-critical factors for the business (Chow, Kose and Li, 2016). The finance professionals develop client’s portfolio based on these factors which primarily define the risk landscape a well as return expectation of the clients (Bisetti et al, 2017). The given report delves into the case study where a...

Discussion of Non-financial Information and Economic Consequences With increased global business watchdogs, and in the standards of the business practices linked with OECD, UN Global Compact and World Bank, non-financial information and its reporting has gained momentum (Haller, Link & Groß, 2017). Besides, initiatives for the non-financial reporting have been incorporated and developed across the globe. Reporting of the non-financial ...

Introduction to CSL LimitedThe report provides a brief analysis of CSL Limited, giving bits of knowledge into its financial performance for the past ten years. The historical money related information is gathered for the years 2008 to 2017 including the the income statement, balance sheet and cash flow statement of the organization. The report starts with a concise presentation about the organization and its core practices. In the later part, th...

Activity-Based Costing for Manufacturing CompaniesIn the present era, the production process of multiple products in manufacturing companies is supported by various activities and department due to which it is not feasible to allocate overhead as per the single rate (Oseifuah, 2018). Therefore, traditional costing is not suitable as it leads to a wrong decision regarding cost consumption and profit generation for individual product or departme...

Indicators of Asset ImpairmentMyer Holdings Limited is a merchant store company in Australia. It operates approximately 60 retail stores located across Australia. Myer limited company deals with a range of products including menswear; women wear, children’s wear, electronics, cosmetics, and accessories among others. Impairment of assets occurs on intangible assets which involve identifiable non-monetary assets that cannot be touched, ph...

Evaluation of Owner's Equity of CSL and Cochlear LimitedEvaluation on the accounting treatment of an organization is one of the essential aspects of the corporate finance. It is essential for an entity to follow the accouning standards and principle to recognize, record and present the accounting figures in the financial statement and annual report of the company so that a fair value could be conveyed to the stakeholders of the entity (Romney,...

BackgroundThe current paper has been prepared for the purpose of recognising any noteworthy accounting problems that requires to be examined with regards to Myer Holdings Limited. The company is a high-end chain store in Australia trading with varied commodities such as- outfit, accessories, footwear, home ware, fragrance, books, stationery, food and other grocery products (Myer 2018). The study would focus on discovering the proofs that imp...

Managing Earnings at WorldCom Part (a): Ways through which senior managers at WorldCom managed earnings: Scott Sullivan, the Chief Financial Officer of WorldCom, has distorted the earnings of the organisation by breaching two primary accounting rules, which include capitalisation and accruals. Moreover, the senior managers had overstated the pre-tax earnings of the organisation by disclosing the accrual balance to the profit and loss stat...

Overview of Activity Based Costing (ABC)The main purpose of this paper is to discuss two research-based journal articles relating to Activity Based Costing (ABC). These two articles discussed are “Implementation of the Activity based Costing Model for a Farm: An Australian Case” and “The Impact of Activity based Costing on Organizational Performance”. The paper explains the Activity Based Costing (ABC) method ...

Budgeting practices in a businessManagerial Accounting is a foundation of a business which assess the costs which is incurred by the businesses in different activities of a business and the same is useful in the decision-making process of the business. The focus of managerial accounting is to assess the information which is related to costs of the business which is used by the business for making appropriate decisions in a business. There are ...

Answer:     Dr. Cr. Date Particulars Amount Amount 01-06-2018 Cash at Bank $10,120     Accounts Receivable $19,111     Motor Vehicle $32,752     Gym equipment $21,829     Stationery Supplies $409     Accoun...

Definition of Auditor IndependenceIn the present corporate world, enhanced auditor reporting requirement has been effective and due to same enhanced transparency is available to the users. The changes in the audit requirements have been made in accordance with Australian Auditing Standards. Present report emphasizes on assessment of the existence of auditor independence in Apollo Tourism and Leisure Ltd. Further, analysis of key audit matter a...

Fair Value Accounting: Advantages and DisadvantagesThe underlying essay is undertaken for presenting a critical review of the article is written by Antonia Marra and published in the year 2016. This article provides the information on fair value of accounting and how it helps in valuing the elements of financial statements. It also discusses the pro and cons of fair value measurement in the global accounting. The critical review is undertaken ...

Advantages of Fair Value AccountingFor above the last two decades, the fair value accounting concept is followed. The idea behind it is measuring assets and liabilities at their existing values. This has been a significant deviation from the fact that the books of accounts need to be valued at historical cost and not at their existing values. However, this concept leads to a debate, as certain factors need to be taken into consideration for un...

Purpose of the Two StudiesThe management of particular organizations uses budgeting as a tool for planning and control of various activities. The tool is typically used to plan for the present and future activities. Normally in the organizations, the actual costs are estimated against the projected expenditures with the aim of ensuring that the various activities are controlled with the aim of reducing wastage. The key aim of this report there...

Question 1Business organizations are largely emphasizing on becoming more responsible by increasing their involvement in activities that benefits the community and environment as a whole. The information related to the social, economic and environmental performance of a business entity is disclosed through development of sustainability reports. Sustainability reporting is also known as triple bottom line (TBL) reporting that emphasizes on disc...

Explanation of activity-based costing (ABC) systemWith the increasing speed of globalisation, all business organisations are focused towards raising their profits. Under such condition, when there is increase in sales revenue, the variable costs tend to rise as well. Hence, this has mandated the need for the organisations to select a suitable costing method having the ability of recording and analysing the business costs (Chenhall and Moers 20...

Understanding the differences between Capital Market Line and Security Market LineInvestors use different type of techniques for evaluating the current valuation of the stock and detect viable investment scope, which helps in strengthening their portfolio. The different valuation such as CAPM model, minimum variance portfolio, capital market line and security market line is used for enhancing their exposure in the capital market. investors uti...