Accounting Essays & Term Papers

213 total

Persuasive EssayThesis Statement: The key opportunities will be changing processes to reduce the delivered cost of materiel through cost accounting, imbedded cost and cash flow.I. Cost AccountingA. activity-based costingB. end productC. expendituresII. Imbedded CostA. customersB. quality controlC. paying back invisible costsIII. Cash FlowA. timely accounts payable cycleB. supply replenishmentC. reduced costsConclusion: The core of the materiels management strategic plan will be providin

This paper will discuss the public perception of CPAs in today's society, pitfalls that they may encounter, methods to prevent some of these negative behaviors and consequences they may face should they fall short. Most "Who Do You Trust?" surveys rank politicians, lawyers and used car salesmen at the bottom and certified public accountants at the top (McGee). That is because the CPA profession has a squeaky clean image--anal retentive little wimps who wear thick glasses and can not g

Becoming A Certified Public Accountant (CPA) LaChelle Mitchell UMUC- ACCT. 221 What is a CPA? These three letters mean that you have received a broad-based education. They mean you have passed all parts of a very difficult exam. They mean you have the knowledge, skills and abilities to be a trusted business advisor to your clients or employer. They mean you feel comfortable with the latest technology. They mean you are an ethical individual who can provide an independent analysis. CP

Corporations are often the victims of the most common white-collar crimes that occur in corporate America. According to the Association of Certified Fraud Examiners (cfenet.com), “abuse and fraud by employees cost U.S. organizations more than $400 billion annually…[which equals] $9 per employee per day.” These statistics show the corporate need for forensic accountants, there also is an immense demand for these specialized accountants in the private sector. For exampl

The article "The Pregnant Adolescent- A Group Approach" from the journal Adolescence was written by Barbara N. Adams, R.N., M.S., Carol A. Brownstein, M.S.W., and Madeline H. Schmitt, R.N., M.S. The aim of the paper is to get the readers to understand how the Rochester Adolescent Maternity Project (RAMP), a group for pregnant teens, came to be. The group was created to help pregnant teens deal with all of their concerns. Being a teen mother-to-be is much different from being an older mother-

Introduction Background information of the company PDP systems is a computer memory manufacturer and peripheral distributor with a corporate office located in Fremont California. The company consists of 9 departments and 160 employees with 80 networked computer users in the corporate office. The data system for the company currently consists of some database and some file based systems used by departments and individuals. Problem The company is not only a memory manufacturer but also a

Basic ideas and Concepts of Software DesignAn Interface to the End-UserThe Project Management System was designed with the goal that the end-user can handle the system on his own.The interactive user interface is based on the Windows interface.The interface programs use standard software of the market like Visual Basic, Microsoft Access and Crystal Reports.DocumentationThe software should be documented. The documentation should cover : h Description of the database architecture h Analysis

J.C. Penney Gift Certificate Concerns J.C. Penney Company, Inc. has recently introduced a new point of sale (POS) system developed by NCR Corporation into their stores. In the first six months of operation, it has become apparent that there are unanticipated problems with the accounting and control functions pertaining to gift certificates. The new POS system does not provide for adequate tracking or control of the certificates on the sales floor, store level sales audit has inadequate

During Hydromaint's audit, you and Pam had a number of discussions. You, Pam, and Mike Johnson are generally satisfied that the accounts are in accordance with GAAP and are supported by underlying facts. Pam tested Jerry's pension accounting (which she found to be correct) by preparing a pension worksheet based on data contained in the actuary's report: Current service cost $1,064,043 ABO at 12/31/X7 2,840,000 Interest on the PBO 8% Interest on plan assets 8 Jerry has agreed to a

Derrick Robicheaux Auditing 11:00-11:50 Accounting for REITs A real estate investment trust, or REIT, is a company that buys, develops, manages and sells real estate assets. There are three types of REITs; they are equity REITs, mortgage REITs, and hybrid REITs. An equity REIT is a corporation that purchases, owns and manages real estate properties; it does not own or originate real estate loans. It may also develop properties. A mortgage REIT is a corporation that purchases, owns

A major goal of governmental financial reporting is assessing financial performance, that is, how well the government is doing with the money entrusted to it. From the standpoint of making judgments about the performance of government funds and government finance, the financial reports are a good place to start. These reports can provide a considerable amount of the information for gauging financial compliance, success, and health. Governmental and nonprofit accounting both use the co

Depreciation is the decline in the future economic benefits of a depreciable non-current asset through wear and tear and obsolescence. It is an allocation process. It can be calculated by two main methods, each reflecting in a distinct prospect in the way the asset is used. Depreciation is to be treated as an estimated expense that does not set aside cash for the replacement of a non-current asset. In determining the cost of acquisition of the lathes, any capital expenditure made must be a

Abstract Goodwill is an unidentifiable intangible asset that has always been a debatable issue when it arrives during financial reporting. The reason being that it is dependable on various factors, which are of a variable nature, for its value determination. Nevertheless, it is an important asset that can not be neglected and has to be accounted for properly for realistic financial statements. Other than that, it plays an extremely crucial role in giving a competitive edge to companies agai

Mark Demayo OUTLINE THESIS: I will explain the steps that need to be taken to computerize business accounts. The steps are planning and informed selecting of hardware, software, and training. I. Making the decision to computerize II. Choosing the correct tools A. Software B. Hardware C. New and old technology III. Installation and training In the normal course of a day our lives are affected by the technology of computers in ways we can only begin to imagine. “The wor

Software Programmer A software programmer programs and writes software and different applications for computers. For example, different software programmers wrote the software word processor MS Works 2.0, and different programmers write games. Some requirements are: - 3 to 5 years experience in RPGII or RPG/400 programming. - comprehension of computer binary language. - familiar with CASE (Computer Aided Software Engineering). - familiar with structured programming system. - familia

The Use of Activity Based Costing By Joseph P. Milazzo Masters of Business Administration Hawaii Pacific University Fall 2000 Activity based costing (ABC) is a relative new way to allocate costs to specific processes and services. This system assures that the costs are accurately distributed to the products or services that generated them. ABC illustrates costs more accurately, giving management insight to the cost associated with certain business activities. ABC extends the dec

10 point plan to improve oversight of financial reporting process The New York Stock Exchange and The Blue Ribbon Committee saw a need for improvement in corporate auditing. They released a report of IO far-reaching recommendations intended to improve the quality of corporate financial reporting, Point # 1. Revise the definition of independent director. They say the definition should read as follows * Members of the audit committee should be independent and have no relationship w

There are two basic ways of financing for a business: Debt financing and equity financing. Debt financing is defined as 'borrowing money that is to be repaid over a period of time, usually with interest" (Financing Basics, 1). The lender does not gain any ownership in the business that is borrowing. Equity financing is described as "an exchange of money for a share of business ownership" (Financing Basics, 1). This form of financing allows the business to obtain funds without having to

10 point plan to improve oversight of financial reporting process. 10 point plan to improve oversight of financial reporting process The New York Stock Exchange and The Blue Ribbon Committee saw a need for improvement in corporate auditing. They released a report of IO far-reaching recommendations intended to improve the quality of corporate financial reporting, Point # 1. Revise the definition of independent director. They say the definition should read as follows * Members of the

Wallace Carothers Wallace Carothers was born in Iowa(1896). He was the oldest of four siblings. After high school Carothers studied acconting at Capital City. He then went to Tarkio College in Missiouri where he studied science and taught accounting. He graduated in 1920 then got his master from the University of Illiniois the following year. He took a teaching post at The University of South Dakota, and there began working on organic chemistry, He found he liked research far more than

Competencies are one of several factors, including performance results in determining annual pay adjustments. ´´´´´´´´ What Is Competency-Based Pay? · Valuing the how (high impact behaviors) of performance as well as the what (results). · Reinforcing high impact behaviors through pay delivery. · Critical to success, but a bad place to start; a good place to continue. ´´´´´´´´ Competency Based Systems Skills Knowledge Attitude Motives Traits Necess

PRINCIPLES of ACCOUNTING II (AC202) ___________ CHAPTER 12 CURRENT AND LONG-TERM LIABILITIES LIABILITIES DEFINED: A probable future payment of assets or services a company is presently obligated to make as a result of past transactions or events. Fundamentally liabilities are measured by the "cost principle" however: Liabilities are comprised of known obligations of a definite amount and known obligations of an estimated amount (i.e. warranties) CURRENT LIABILITIES:

In the recent years the economy experienced the growth of many international companies. It is very common to have companies that have physical locations in many parts of the world. Audinting such entity presents a considerable challenge for audits. One of the reasons is that all of the Big Five accounting firms have offices in many countries is to effectively audit such multi-national audits. Considering such audits, auditors must consider the scope of audits. Planning of such audits

QUESTION ONE: Calculate the total costs for each product if all overheads are absorbed on a machine hour basis. Overhead absorption is the means of attributing overheads to a product, or service based on direct labour costs, direct labour hours, or machine hours. The treatment of the indirect costs will be examined in this question. In this question total costs for each product will be calculated using the Overhead Absorption Method. Total Costs per each product Overhead Absor

Title: Discuss the importance of depreciation expenses. The concept and practice of depreciation plays an integral part in a company s cash flow situation and funding. The two main reasons this occurs are that firstly depreciation is a for of self finance, and secondly because a company does not have to pay taxes on depreciation, hence excluding taxation from a cash amount which enlarges the cash flow of a company. As a term, depreciation is defined as a loss in value, a diminishment in mark

Anyone considering accounting needs to assess whether this career fits his or her interests, abilities, and aspirations. There are certain qualities and qualifications, however, that a person should consider before making a commitment to a particular career field. Selecting a career can take a lot of time, and many people do not choose until they are adults. Contributing to the difficulty in choosing a career is the vast number of vocations from which to choose. The field of accounting

ABC is crucial because it tells managers which products or services make or lose money - they usually don't know. Traditional cost allocations often depict an unrealistic, inadequate view of profitability, sometimes distorted by hundreds of percent. In most cases, ABC is designed to provide profitability information for each segment of their product/service market matrix. After learning about the specific products, services or customers that make or lose money, managers can choose an

Postal Service As a Monopoly In the United States economy most markets can be classified into four different markets structures. But, each and every market in the United States is completely unique from the others. Generally the best type of market structure for the general public is perfect competition because it creates the lowest possible price for the public. There are some exceptions where perfect competition isn’t the best choice for the public on account of various reasons. Th

HUMAN RESOURCES MANAGEMENT A responsibility that must be assumed by a business firm is that of maintaining sufficient and adequate personnel in its organization so that the purposes for which it exists may be achieved. Nature of the problem: 1) To find the right people and/or choose among the available ones 2) To appropriately train them for task 3) Too develop the right morale and esprit de corps It all depends on: a. Size of organization b. Labor market conditions c. Tech

Monopoly of the Postal Service- In the United States economy most markets can be classified into four different markets structures. But, each and every market in the United States is completely unique from the others. Generally the best type of market structure for the general public is per-fect competition because it creates the lowest possible price for the public. There are some exceptions were perfect competition isn t the best choice for the public on account of various reaso

HEINEKEN N.V- Global Branding & Awareness Problem Statement: As the consumer needs & tastes vary across the globe, Heineken must decide how much to adept their marketing strategy to local needs using a variance of standardized marketing mix & adapted marketing mix, owing to the strong brand preferences & loyalties that exist among the beer drinkers. Recommendations: Heineken needs to evaluate its home replication, multi-domestic & national, global & transitional strategy to establish its

In the United States economy most markets can be classified into four different markets structures. But, each and every market in the United States is completely unique from the others. Generally the best type of market structure for the general public is per-fect competition because it creates the lowest possible price for the public. There are some exceptions were perfect competition isn’t the best choice for the public on account of various reasons. The United St

Approximately every two minutes, a teenage girl in the U.S. gives birth. According to Bren Guersny in a book called The Facts about Teenage Pregnancy. While this fact may be sad and startling to most people, it is indeed the truth. Over the past few decades, the problem of teen pregnancy has grown considerably in this country and in particular, in Pomona. Most women want to become mothers when they are ready and can plan for it, yet an increasing amount of teenagers are getting pregnant at

Postal Service As a Monopoly In the United States economy most markets can be classified into four different markets structures. But, each and every market in the United States is completely unique from the others. Generally the best type of market structure for the general public is per-fect competition because it creates the lowest possible price for the public. There are some exceptions were perfect competition isn t the best choice for the public on account of various reasons. Th

GENERALLY ACCEPTED AUDITING STANDARDSApril 10, 1996 Generally Accepted Auditing Standards are those guidelines which auditors must adhere to while conducting an audit of a company's or government entity's financial statements. It must also be stated in the audit report that the audit was conducted following Generally Accepted Auditing Standards. This has been required since 1941 after the investigation of a large drug company, McKesson & Robbins, Inc., which had had funds embezzled by i

EVA is a way of measuring a firm's profitability. EVA is NOPAT minus a charge for all capital invested in the business (Byrne 1). A more intuitive way to think of EVA is as the difference between a firms NOPAT and its total cost of capital (Kramer & Pushner 40). Stern Staurt's numerical definition of EVA is calculated for any year by multiplying a firm's economic book value of capital at the beginning of the year by the spread between its return on capital and its cost of capital (K): E

Creative accountingBackground and baselineFinancial statements are bound by laws and accounting standards. To break these is anoffence and enforced as such. Judges enforce the letter of the law and where there are loopholes, the law may be changed.For judges the spirit of the law does not exist. However finance is too complicated to havea set of water-tight rules. For example an ASB working committee was meant to resolve howgoodwill should be handled and in 1995 they came up with 5 alt

1. Identification of the company being described Company A: Manufacturer of toiletries, non-prescription drugs, and consumer and baby care products. Analysis: · Compared with Co. B, Co. A has a higher gross margin equivalent to 63.1 percent. Company B: Manufacturer of pharmaceuticals and low-margin hospital supplies. Analysis: · Goodwill can be seen on the other assets portion of the balance sheet. Co. B has a significant amount of other assets (40.6 %). · Compared to Co.

STATEMENT OF CASH FLOWS Information about cash flows can influence decision makers in many ways . For example , if a company’s regular operations bring in more cash than it uses , investors will value the company higher than if property and equipment must be sold to finance operations . Information about cash flow can help creditors decide whether a company will have enough cash to pay its debts as they mature. Management and investors use cash flow information to evaluate a compan

Du pont decomposition of ROE LA Gear’s ROE has decreased over the last three years from 49.45% in 1988 to 15.22% in 1990. Profitability (NI/Sales) has also fallen dramatically from 9.8 % in 1988 to 3.47% in 1990. Asset turnover has increased from 1.69 to 2.48, because while sales have quadrupled, total assets have only increased by about 2.7 times. Profitability The gross profit margin has dropped from 42.29% in 1988 to 34.41% in 1990. LA Gear’s operating profit margin has dec

While analyzing the financial statements of Costco for the years 1995-1999 we concluded that the years were successful in terms of revenue and earning. Due to their success the company is able to provide low prices to individuals and businesses in almost 300 locations worldwide. Since there is such a steady growth in most area Costco has been able to open 100 new stores within the last 5 years and only closed 28 in the process. Although they have had a steady increase in assets and liabilitie

Bill Davis Accounting Dell Computers Brief Back Ground Dell Computers is one of the world's top PC makers and the world's #1 direct-sale computer vendor. Led by founder Michael Dell -- the longest-tenured CEO of any major US computer company, who owns 12% of his creation -- the company sells hardware and markets third-party software and peripherals. Products include PCs (about 55% of sales), notebooks, and network servers. Government entities, large businesses, and educational instituti

Bill Davis Accounting Dell Computers Brief Back Ground Dell Computers is one of the world's top PC makers and the world's #1 direct-sale computer vendor. Led by founder Michael Dell -- the longest-tenured CEO of any major US computer company, who owns 12% of his creation -- the company sells hardware and markets third-party software and peripherals. Products include PCs (about 55% of sales), notebooks, and network servers. Government entities, large businesses, and educational insti

The Balance Sheet Although the balance sheet was first implemented just a couple of centuries ago, it has quckly developed and sophisticated to become nowadays a widely used and powerful tool in the hands of professional users, well known and popular even among the mass public. In spite of its prominence, or may be because of it, the balance sheet can not be easily and fully described in a few words, but still, if we leave aside its various functions and forms and any other subject

Part A 1. Directors AJ lane, WJ Locke, JF Kelly, JR Cadwaallader, DG Lane, HA Lynch, IA Pollard, RC Milne 2. Total Sales = $475,264,000 (1997) (Before Abnormal items) 3. Sales revenue for the consolidated entity, for the year ended 30 June 1996, was $449745000. 4. Equity method used when company has significance influence but not control of investee company OPSM use consolidation method which means it has control over other investee. 5. Total interest expenses for the consolidated ent

Created by EDGAR Online, Inc. COCA COLA CO Income Statement2 Period End: Dec 31, 1999 Date Filed: Mar 9, 2000 Values in this worksheet are in millions, except where noted. 1 YE 12/31/99 1 YE 12/31/98 1 YE 12/31/97 (In millions except per share data) NET OPERATING REVENUES $19,805 $18,813 $18,868 Cost of goods sold 6,009 5,562 6,015 GROSS PROFIT 13,796 13,251 12,853 Selling, administrative and general expenses 9,001 8,211 7,792 Other Operating Charges 813 73

Project #1 Olga Kononova BMGT495 I. Tobacco is a plant that grows in a wide range of soil and climate conditions. Its non-edible leaf is dried and used to produce cigarettes, pipe tobacco, cigars, chewing tobacco and snuff. Companies that manufacture and market cigarettes, snuff, cigars, chewing tobacco, and other tobacco products, are tobacco industries. UST Inc., through its subsidiaries, operates predominantly in the tobacco industry as a manufacturer and marketer of moi

Introduction The business world has continued to grow over the past century, although only recently has a new market for business arrived. This new market is able to reach billions of people around the world at a click of a button. This business opportunity has emerged in the World Wide Web. Many companies have successfully tapped this resource and have made millions upon millions of dollars off of distributing services or goods to the billions of people that log on everyday. Busin

Facts: Taxpayers will be reimbursed by the corporation for all out of pocket expenses incurred including transportation, and lodging expenses. However, taxpayers will not be reimbursed for costs incurred in the operation and maintenance of employee home offices. Issues: 1. What procedures must the corporation take in developing and carrying out any type of accountable plan? 2. What should employees be aware of regarding tax treatment of reimbursements and unreimbursed employee exp

The Four Laws to Debt Free Prosperity The object of this book is to teach people how to manage their money in order to stay out of debt and plan ahead for the future. This book goes over several suggestions or laws but focuses on four main ones. To work with the other laws you must first learn and master the first which is Tracking daily expenses. By doing this one sees how to ease financial problems by finding money that slips through the cracks. If one pays attention to every det