Category Archives: Accounting

Explain why financial accounting theory and practice are NOT the scientific, objective, and value-free technical endeavours they are believed to be, and what this means for understanding accounting practices.

HW2 (15 pts) “Hines (1988) and other accounting theorists pose the notion that accounting socially constructs reality, rather than merely report the pre-existing reality of accounting transactions. As a result, all accountants must realize that accounting is a fluid, social construction that is constantly changing, and often becomes “what it was not, rather than what […]

How does this limited view of users potential bias both the objectives of providing general-purpose financial statements and the type of information they include/prioritise?

HW3 (15 pts) The FASB’s Statement of Financial Accounting Concepts No. 8 (2010) and the IASB Conceptual Framework for Financial Reporting (2010) both removed “conservatism” (“prudence”) as a qualitative characteristic of useful financial information. Explain why this change was made in 2010, and use the work of Cooper (2015), to explain why “prudence” (“conservatism”) was […]

Briefly explain how the accounting profession can, and is, contributing towards the development of improved forms of environmental and sustainability reporting and audit information.

Topic: HW 1 Accounting a) As the annual rate of consumer price inflation in the U.S. is currently rising by 8.5% per annum, explain the limitations of using historic cost accounting (HCA) as the basis for providing relevant and faithfully representative financial reporting information for investors, lenders and other creditors. Within your answer highlight how […]

What type of audit opinion did the external auditors give?

Topic: Financial Reporting Step ONE: Analysis of Annual Report Select a business from the provided list and analyze their latest annual report (either on the company website under investor relations or on finance.yahoo.com). Company Stock Symbol Amazon AMZN Apple AAPL Bank of America BAC Best Buy BBY Citigroup C Continental Airlines CAL Chipotle CMG Costco […]

Do you think that the minimum tax is a good tax policy-Why or Why not?

Will the new corporate alternative minimum tax rate be successful in reducing inflation? Brief pack back post on the Topic: The Inflation Reduction Act that was recently signed into law by President Biden, included a new corporate minimum tax that takes effects in 2023. Do you think that the minimum tax is a good tax […]

Explain how an employee might behave ethically, or unethically in that situation and how you would handle the situation.

Topic: Fundamentals of Accounting In order to complete this assignment, you will need to think of a company that you might start. This could be any company such as a consulting service, restaurant, or a new product. Be creative, fun, and inspiring. The paper will include the following sections: Introduction: Company Overview. Begin the paper […]

Explain to decision-makers in your organisation the limitations of seeking answers to organisational issues which may emerge because of having undertaken financial ratio analysis.

Topic: Business Accounting & Finance Assignment Question: Question 1: Representing value through the statement of profit and loss A Managing Director of a for-profit organisation has claimed that profit is the ultimate measure of organisational value. Identify and apply one relevant international accounting standard to counter this argument through the lenses of cash. [15 marks […]

Identify several courses of action that Tamira could have taken instead of the one she took.

BOOK:Fundamental Accounting Principles Edition: 25th Author:John Wild,Ken Shaw,Kermit Larson On January 20, 2019, Tamira Nelson, the accountant for Picton Enterprises, is feeling pressure to complete the annual financial statements. The company president has said he needs up-to-date financial statements to share with the bank on January 21 at a dinner meeting that has been called […]

Why is an adequate environment and system of internal control important for an organization in order to produce reliable financial statements?

Ethics writing assignments Writing Assignment 1: Now that we have completed chapters 1-4 you have been exposed to all four financial statements (Income Statement, Statement of Retained Earnings, Balance Sheet, and Statement of Cash Flows,) the account types (Revenues, Expenses, Assets, Liabilities, and Equity,) and ideas about internal controls and ethics as they relate to […]