Essays on Accounting

Reasons for the Inventory account requiring adjustment at year-end. These accounts require adjustment at the year-end since they may be incorrect due to various reasons such as recording errors, theft or waste. Merchandisers who use perpetual systems need additional adjustments for the purpose of making records agree with actual inventories...

1. On the balance sheet, total assets must always equal the sum of total debt and equity. a. True b. False 2. The annual report contains four basic financial statements: the income statement, the balance sheet, the cash flow statement, and statement of stockholders' equity. a. True b. False 3. What is the type of conflict...

Dear Human resource manager, Thank you for the vacancy to apply for the entry level accounting job position role in your organization. After reviewing the job description, it’s clear that you are looking for a candidate who is extremely familiar with all responsibilities which are associated with the role and can...

In industries, other than operating profits, the inventory costing and capacity are relevant items of managerial aspects of accounting that needs correct analysis. Inventories are quite special for manufacturing businesses and even merchandising firms. It follows that inventories are defined as an itemized list, report, detailed or record of things...

A causal claim made by Peter Bakker in the article titled “Accountants Will Save the World” is as follows: the inability of all businesses getting involved in solving world’s toughest problems is caused by the current less comprehensive accounting rules (Bakker, 2013). The claim presents a cause and effect relationship....

Cory and Pruske discuss the skills required for the accounting field in their piece Necessary Skills for Accounting Graduates: An Exploratory Study to Determine What the field Wants. In order to pinpoint the critical competencies and subject areas pertinent to both accounting contexts, the writers evaluate both public and non-public...

"As used in this book, the word healthcare finance refers to the accounting and financial management principles and practices employed inside healthcare organizations to assure the financial well-being of the enterprise." (textbook quotation) Accounting and financial management are two primary aspects of healthcare finance. Accounting refers to an organization's business transactional...

Offshoring is the practice of moving business operations (such as manufacturing and accounting) to another nation (Kahai, Sara, & Kahai,2011). However with outsourcing, a business can cut costs by shifting some of the work to outside vendors rather than finishing it in-house. It is a genuine cost-saving measure. Comparatively, Sub-contracting...

Explaining Complex Financial Data and Accounting Transactions. I'm writing to describe the current dilemma you are in regarding not having enough money to cover the company's payroll and pay vendors within 30 days, despite the fact that sales are consistently rising. This condition results from a variety of accounting activities...

Any transaction that has an effect on the balances of a company's financial statements is considered an accounting case. Accounting events had an effect on the following statements: the statement of financial status, the statement of sales, the statement of cash flows, and the statement of Owner's Equity. The paper...

One of the fascinating accounting topics explored in Starbucks' annual report is the debate and accounting for goodwill. When a corporation acquires another enterprise and overpays for the new enterprise, it also generates goodwill for the company. The goodwill is the excess money paid above the market value of the...

This report has been written to ensure that financial statements are in accordance with AASB standards. The first section of the study provides background material on Abacus Limited as well as an introduction to accounting standards. The body is made up of qualitative aspects of valuable financial details and transparency,...