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Finance & Accounting Essay

Financial and Management Accounting
Financial accounting has a lot of advantages. According to Daniel (2007), financial accounting helps many business establishments to comply with legal requirements which include tax returns among others. Financial statements, such as balance sheets, help the institution in communication in the organization. Financial accounting also helps in protecting business assets, since flow of money and assets is recorded periodically. Finally, it helps in appropriate decision making, especially to
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Discuss the development of international harmonisation in financial reporting
In relation to this, different accounting and reporting standards reflects some crucial accounting principles on the basis of which, an organization can undertake fair and effective accounting practices (Nobes 1999).As the span of and importance of business activities of different organization in an economy is quite vital, having integrity of accounting practices becomes quite essential phenomena. These standards are quite essential for the purpose of preventing misrepresentation of different
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Case study
Firms should seek to create, sustain, and increase value for all its stakeholders for the purposes of performance and survival (Philips, 2011; Philips, 2003). The theory begins from the point that the existence, performance, and progress of a firm is significantly dependent on the harmony that must exist among the stakeholders. Any adverse effect on one or some of the stakeholders will invariably spill over to the other stakeholders. As such, the work of the management is to harmonize,
Pages: 6 (1500 words), Essay
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Coursework Assignment BEHAVIOURAL FINANCE VIEW ON MARKET BUBBLES
Nevertheless, new guidelines were applied for tulip production, but the firms and the industry faced losses due to rises in the prices of buds (Thompson, 2006).The behavioural finance phenomena related to tulip mania of 17th Century provided insight about both prosperous and collision of the market of tulip bulbs. The tulip mania had led to extending negative consequences in the Dutch economy. The effects of tulip mania were so brutal in the sense that it led to liquidation of the economy. In
Pages: 4 (1000 words), Essay
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Comparative Study of US Dollar and Euro
From 2009 up to 2012. In this way, it would be made clear whether the power of the two currencies in the global market is equal or whether one of them is at an advantageous position.During 2009 the value of Euro was decreased at a level of 20%, compared to 2008. The global financial crisis of that period has been probably the key reason for the above phenomenon. At the end of the above year the value of Euro was estimated to $1.43 (Index Mundi 2012). The year that followed, 2010, the value of
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Purchase 2
This has in turn increase satisfaction of both health care practitioners and patients a core value, which the hospital stands for. The capital expenditure has also enabled the hospital improve in the area of research and development, which the hospital has been yarning for several years in the area of fractures and tumors.Purchasing the CAT scan has also enabled the hospital achieve its revenue generation target, which has also improved the profit of the hospital. This is because the number of
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Gender and the Accouting Profession in Saudi Arabia
Therefore, this research will attempt to understand the professionalization of regulation in the multi-national professional service firms (currently known as the Big 4) in Saudi Arabia and explore the role of women accountants.Studies have often ignored certain groups of accountants and have failed to include them when understanding the role of professional accounting. For example, different marginalized accountants like women, clerks, and blacks are integral in properly analysing the
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Individual reflection and personal development plan
The department has assured me that by the end of the semester, they will issue recommendation letters to all third year students. So there is a high hope that by the end of the semester I will acquire my recommendation letter, which will assist me in my attempt to securing a job.Being the best graduate in school of accounting and finance: earlier in the first year, I realized that to be the best graduate in any department does not concerns reading books only (Lyons, 2010). This realization
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You have to be a good manager to be an affective leader
These factors prepare a worker mentally and psychologically to be submissive to the leader for the matters related to work. In turn, the level of obedience of the subordinates is raised and this has a very healthy effect on the relationship between the leader and the subordinates. When managed rightly, workers know that they have to listen to the leader to be able to work toward attaining the goal as a group while keeping their personal egos aside. In this way, management essentially set the
Pages: 6 (1500 words), Essay
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You have to be a good manager to be an effective leader
Some other skills that a leader require is emotional intelligence, emotional intelligence is referred to as the ability to figure out the emotional issues that one is suffering and then helping them to solve those issues. A leader should have a strong vision of the future and should be able to inspire others through the vision and should be motivated towards the long term achievements of the organization. He should be able to not only respond to the needs of his/her team members at the team
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Public sector and management accounting
Is a major set of standards that tries to provide the rules and definitive guidance for the creation of financial statements for these public oriented companies around the world.The main reason why a different set of accounting reporting rules are needed for the public sector is that they have a welfare oriented system which is in contrast with the profit-orientation of the private sector. Hence, there is the need to create a system of rules for the public sector.The main scope of the IPSAS is
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The professional accountant
The Board also reviews and approves company proposals, formulates budget and decides on other major items on the operations of the company. An example of major policy decision is: In 2012 interim report, the Board said it continues to expand its brokerage business in new areas like Dubai and to continue with its present strategies of sale and purchase of assets.An important duty of the board is to maintain good relations with shareholders. This is done thru annual meetings where questions are
Pages: 5 (1250 words), Essay
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Corporate Finance
In this regard, management at Marks and Spencer took a bold decision to shut down 22 of its non-performing retail outlets in the year 2009 and this closure of selected retail outlets has continued till last year. Apart from this, the company planned to revamp its retail outlets design and outlook in the UK and therefore has planned to make capital expenditures worth GBP 600 million from 2011 to 2014 (Yahoo Finance, 2013; Marks and Spencer plc, 2012).As far as the sources of finance for the
Pages: 11 (2750 words), Essay
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Company Closing Process
The year end process refers to a set of activities the company performs to close financial books, make adjustments, correct errors and produce financial statements such as balance sheet in correspondence with existing rule and regulations such as international financial reporting standards (IFRS) and generally accepted accounting principles (GAAP). These activities involve several personnel such as accountants, bookkeepers and financial manager working under guidance of senior staff (Warfield,
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Has the budget outlived its usefulness in the 21st century
It is also importanat to note that all the organization is which the research was done actualy approved the need for budgeting in their organization with non financial institutions considered in this research even coming out more firm on the budget issus (Dugdale and Stephen 2006, p.In order to find out the problematic nature associated with the budgets, the research team organized about twenty propositions on what a budget may be seen as problematic and fronted them to the respondent to either
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Discuss with relevant example, the different levels of income and expenditure that a typical uk individual is likely to experience through out their life
During 1998 and 2009 the earning of individuals was quite faster than the rate of inflation.From the year 1987 to 2009 the household income of people in UK has actually doubled from 56,000 Euros to 117,000 Euros. The savings and the percentage of income have increased between 2008 -2009 to 7percent from 2%, which is quite impressive. In terms of income taxes the HMRC estimated in 2009 that the income tax would be paid 18.3% of all average income in 2012. Moreover, HMRC estimated that the income
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Compare and critically evaluate ring-fencing and total separation approaches to banking regulation
The second advantage is that the ring-fencing strategy preserves a higher degree of operational synergies. Thirdly, ring-fencing approach offers the advantage of having reduced legal obstacles in comparison to full separation. In addition, ring-fencing approach can be implemented with the existing European Union framework, which includes foreign banks within UK subsidiary (Independent Commission on Banking 2011, p.In 2011, the independent commission on banking recommended retail ring-fencing of
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Norris Capital Investment
However, investment in stocks involves certain risks. If there is a decline in the economy, then it will put all the stocks of the company in risk, even if the management team or the brand of the company is very strong. In the period of high inflation the amount invested by the investors is valued much less as compared to the actual value. Although investment in stock market involves number of risks and is highly volatile, it will return with high yield return (Rosen, 2008). Thus investment in
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According to Airbus the merger between BAE Systems and EADS was the last chance of creating a European aerospace and defence giant
Mergers and acquisitions can take the form of vertical integration, horizontal integration or conglomerates. Horizontal integration is a form of integration in which firms combine at the same stage of production. Ison and Griffiths (75) note that horizontal integration may help a certain company to increase their share value. Firms that undertake horizontal integration do benefit from economies of scale that result from capacity expansion, technical economies of scale, social economies of
Pages: 7 (1750 words), Essay
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Strategic Management Accounting
Include so many processes that are intended to take into account the changing circumstances, which is not a big problem in static marketplace where changes are very minimal or sometimes nonexistent (Vroom, 1960; Barry, 2010).Given that there are not many changes in the marketplace, it would be very advantageous to use the traditional method because it encourages use of the budgeted expenditure and avoid using what is avoidable. Furthermore, this budget also ensures that the budgeted amount is
Pages: 12 (3000 words), Essay
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