Accounting Sample : Page - 11

Relevance of Fair Value AccountingIt is observed that for the past two decades the practice of fair value accounting to measure the asset and liabilities at estimated current value is rising rapidly and the measuring process is very different from the traditional historical cost book-keeping method. The changing pattern of asset and liability measurement has a huge impact on the business world effecting the business activities, investment choi...

What is Impairment of Asset?Impairment of asset is a major accounting adjustment. As per the AASB 136, Impairment of Assets, impairment refers to the permanent or the irreversible brought down of the value of the fixed or the tangible assets and intangible assets. Impairment happens when the carrying value of the asset is maintained at a higher level in relation to its recoverable value. This means that the asset of sold shall fetch a value wh...

Question 11.As in the given case study, it can be seen that Kody and Ryder have started the organization named Astounding Gifts Pty Ltd. Both partners are agreed with the contract that they hold 45% of an organization’s share and remaining 10% will be given to Salman who work in the organization as an accountant.         The main issues associated with the organization is that, salman as an accountant,...

Explanation of Activity based costing methodFor effective financial transaction and performance within organisation, management accounting one of the most significant concepts by which firm can effectively carry its activities. It is a procedure to analyse and assess the financial performance of the corporation by which effective decision can take by finance manager for future activities of business unit. Management accounting is a systemati...

Main points of the argumentThe purpose of the report is to explore generally how mining industry practise and carry out its social responsibility. The report also explores the social responsibility in the mining industry and the association between environment and CSR, quality management system and safety. Mining industry has been focusing and adopting these measures in the last decade. The report also reveals that social responsibility is assoc...

Profitability AnalysisThe main purpose of this assessment is to analyze the financial statements of Flight Center Travel Group Ltd which is engaged in providing flight services to the customers. The report will be considering the financial information of the business which are taken for the annual report of the company for a period of five years. The assessment will also be including computation of key financial ratios of the business which ar...

Two Key Assertions at Risk In Relation To InventoryThe main purpose of this paper is to identify and explain two key assertions at risk in relation to inventory as well as identify and describe two substantive audit procedures that are performed in response to each identified risk. The paper also explains the requirement of ASA 701 that relates to communicating key audit matters. In addition to this, the paper seeks to identify and explain two...

Introduction:The major purpose of making this report is to provide proper acknowledgment of using management accounting tool in real life organisation. This reading is based on research journal articles which will explain importance, use and significance of management accounting tool through detailed analysis. Analysis will be based on accounting and management journal and articles. Activity based costing is to be chosen as per instructions an...

Financial CrisisFinancial Accounting which is commonly known as accounting is the basic branch of business dealing with the records, analysis, transactions and all other data of a particular business firm during a particular span of time. Financial accounting is the base of every business and it was practised since olden days, the difference being now is the change of method and types. Financial accounting is basically the day to day record of...

Introduction to Standard CostingManagerial Accounting is an accounting process which considers the costs aspects of a business and how the same can be used by businesses in decision-making process which is undertaken by the management. The accounting process is closely related to cost accounting process and the main functions of this are to classify, measure, identify, analyze and communicate information to the managers of the business so that...

Answer: Part a Payback Period method Project A Years Cash Flows Cumulative Cash Flows 0 -$3,300,850 -$3,300,850 1 $580,652 -$2,720,198 2 $600,645 -$2,119,553 3 $648,000 -$1,471,553 4 $678,000 -$793,553 5 $690,000 -$103,553 6 $700,000 $596,447 7 $710,000 $1,306,447 &...

Indicating about the need for sustainable strategy by businessThe overall assessment aims in identifying the significance of sustainability strategy, which would allow organisations to obtain adequate performance, while maintaining environmental, social and governance factors. The main hurdle that is presented to organisation now days is to follow the sustainability measures that are imposed by regulators while maintaining steady flow income f...

What is Financial Statement Reporting?Financial statement or reporting refers to a proper record of activities, operations and position based on finance of a business entity. Financial information which is relevant is presented in a formal and systematic way facilitating the user in understanding and implementing. These are inclusive of fundamental financial statements, escorted by a managerial analysis and discussion. For large-scale compan...

Importance of Street LightsAccidents are more prone during the night and street lights tend to play a significant role in avoiding such accidents as well as improving the safety condition of a place. The provision of street lights has turned out to be one of such expensive responsibilities that the authority of a city is entrusted with. To the tune of between 10-38% of the energy bills in most of the cities is attributed to lighting. Street li...

Overview of Caltex CorporationCaltex is a vertically integrated oil company, which is to say it is involved in all aspects of the oil industry (exploration, extraction, refining and marketing). Its supply chain involves the use of pipelines, depots, terminals and fleets. Its marketing operations involve the operation of service stations, convenience stores (Caltex, Woolworths, and Starmark), retail fuels, automotive products (ATFs, grease and ...

Impact of the system on business continuity Information systems have become a valuable tool that is required in banks to perform critical functions such as financial statements, customer service, and payroll. This thing makes it easier to work in western union bank, but there are threats and risks in these systems that may damage, loss or get information in the technology systems. We have to get an act to prevent these risks and have a disa...

Background of the company The issue that has been presented in the question refers to the fact that the corporate organizations have to face accounting issues in the due course of business. This means that a firm might be subjected to fraudulent activities and the absence of the proper internal controls in the corporate entity will result in the corporate organization going bankrupt. This particular study focuses upon one single corporate e...

Factors that need to be considered in selecting or using appropriate business structure Australia is big, bold and full of adventures.  It is full of contrasts with its bright blue skies, deserts and sun bronzed beaches providing the great opportunities to tour and travel organizations. Koala and Kiwi Travel and Tours Shops will save the clients time and energy with providing most suitable deals of travel. It works for you and it&rsquo...

Difficulties in the Organizational StructureDiscuss About The Microsoft Excel Digital Forensic Accounting. Wesfarmers is one the largest conglomerate in Australia and has been listed on the stock exchange. The company has ventured into a variety of operations and has expanded its business to far of places. The company has many retail outlets and is also termed as the biggest company in the world in terms of revenue so this would easil...

Current Organizational StructureDiscuss About The Organization Accounting Software In Australia. The information system development holds and an integral role for the deployment of the effective and improved functions in the organization (Lasserre 2017). It is highly helpful for aligning the management of the operations and favoring the implication of the operations so that improved activities can be deployed. The Accent Group Limited i...

Business Processes Definition: Westpac BankDiscuss About The Strategic Information System: Westpac Bank. The Information system which has developed for the purpose of supporting the initiatives of various types which are generally regarding the corporate business is known as the Strategic information systems (SIS). The business initiatives can be of different types and this depends on the type of business or organization. This are ...

Thesis statementIdentify the constraint in the production process (not the constraint in the maintenance practices). To be able to describe at a high level how maintenance practices and asset management might best support this constraint. Efficiency and production are two sensitive factors that work together in the mining and processing industry. In order to maintain a consistent output and ensure that there is maximum productivity on a...

Performance evaluationDiscuss about teh Investment and Portfolio Management for Sharpe Ratio. The report mainly focuses on the various portfolios of US market and evaluates that which portfolios are the best in context with the investment. In the report, top 8 mutual funds of the US market has been evaluated on the basis of the average return, standard deviation, beta of the portfolio, average performance of the portfolio, Sharpe ra...

Understanding the Importance of Balance Sheet in Business Management What does a balance sheet enable you to do? Poor cash flow may arise from what? Briefly describe the Business plan review process and ensure that ensure that you have enough resources to prepare budget for the next financial cycle and meet the deadline. Why do you need a good financial record keeping system? Give a description of the 3 most common program...

Brief Summary of the Cases and CompaniesDiscuss abotu the Internal Audit in your chosen Companies.  Applying Audit Practices: British Telecom is United Kingdom’s maincommunications services company, with yearly revenue of £ 20 bn. It has a workforce of around 90,000 and operates in more than 170 countries.  Its new director of internal audit Mr James Grigor has ensured that each of its six lines of busines...