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INTERNAL CONTROL AND ACCOUNTING SYSTEM
Internal Control and Accounting System
Purpose of Accounting Functions1
Structure and Organization of Accounting Functions2
Significance of financial Reporting4
Income statement4
Statement of Cash flow5
Statement of financial Position5
Overview of the Business (critical external relationship with stake holders)6
How Organizational Structure Affect Accounting System7
Affects of External Regulation9
Affects of Organizational Procedures and Policies10
Various kinds ...
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R&D and Leases
R&D and Leases
Question 1(a)
(i)
NZIAS 38 will be used in determining the accounting treatment of research and development. An entity is required to disclose the amount of R&D expense in financial statements during the in which it incurred. An account has to be maintained for all those activities that ...
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ETHICS AND GOVERNANCE
Ethics and Governance: Auditor Independence
Ethics and Governance: Auditor Independence
How might consulting fees affect auditor independence?
The provision of consulting services towards audit clients has some serious effect client on perceiving the evidence. The rules of SEC has design the auditing of counter evidence violation that increase ...
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Management Accounting 1
Management Accounting 1
Part 1
Requirement A (Revenues budget)
Revenue Budget
Quantity
Values
Revenue
Large
3000
3
9000
Giant
1800
4
7200
Total Revenue
16200
Requirement B (Production budget in units)
Production Budget
Large
Giant
Unit required to meet sales budget
3000
1800
Add
Desired ending inventory
300
180
Total Unit Required
3300
1980
Less
Estimated beginning inventory
200
150
Planned production
3100
1830
Requirement C (Direct material usage budget and direct material purchases budget)
Direct material usage budget
Large
Giant
Planned production
3100
1830
Sugar Usage ($0.25 & $0.3)
775
915
Sticks Used ($0.3)
3100.3
549
3875.3
1464
Direct ...
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Patagonia-Values Do Matter-Accounting Professionalism
Patagonia-Values Do Matter-Accounting Professionalism
Summary-1: Accounting Professionalism-They Just Don't Get It!
For last decade or so, Accounting as a profession has gone through a lot. Most of the times accountants are accused of being involved in practices that are are not according to tshe conduct of the ...
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Assignment
Assignment
How should mixed costs be classified in Cost-volume-profit (CVP) analysis?
Mixed cost is also known as semi variable cost and possesses characteristics of both fixed and variable because it is made up of both fixed and variable cost. The mixed cost can be explained by assessing the telephone bills expense ...
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Advance Financial Accounting
Advance Financial Accounting
Introduction
IPSASB - International Public Sector Accounting Standards Board is an independent body that was established to provide guidance for preparation of financial statements. These are high quality financial standards that facilitate public companies across the globe for better preparation of financial statements.
In a globalised ...
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Accounts and Auditing
Accounts and Auditing
What are the significant and pervasive audit deficiencies within accounting firms? Discuss. How can these deficiencies be rectified? Discuss.
The most significant shortcomings in the work of audit firms and individual auditors identified conducted inspections in 2009, and highlights the experts on audit activities in the following ...
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ACCOUNTING ANALYSIS
[Name of the Institute]Accounting Analysis
Introduction
The sales in units for the next eight years are given in the table. The cost of the production and the operating cost are considered to be an expense for the firm hence adding both these costs will be the expense for the firm and ...
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Auditor's Questions to CFO
Auditor's Questions to CFO
Hydromaint is a company, which provides hydraulic maintenance services to various water districts, refineries, chemical plants etc on a contractual basis. Hydromaint Company, decided to get financing from the Midwest National Bank in order to purchase an additional truck for the company operations. ...