Professional Ethics and financial statement disclosure: In a constructionist perspective Abstract This essay addresses the relationship between professional ethics and financial statement disclosure. The public should change its view on the objectivity of accounting profession because in no means can anyone be absolutely objective. The reason to this will be articulated thoroughly in the essay. Then how to maximize relative objectivity is discussed and
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I Brief Contents 3 Chapter 1 Introducing Financial Accounting Chapter 2 Constructing Financial Statements Chapter 3 Adjusting Accounts for Financial Statements Chapter 4 Reporting and Analyzing Cash Flows Chapter 5 Analyzing and Interpreting Financial Statements Chapter 6 Reporting and Analyzing Revenues and Receivables Chapter 7 Reporting and Analyzing Inventory Chapter 8 Reporting and Analyzing Long-Term Operating Assets
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Coursework BBM – Financial Accounting (FIN 2241) SHARIFUDDIN HAZIQ BIN ABDUL AZIZ SCM 022587 Ms. Janice Contents No. | Title | Pages | 1 | Executive summary | 2 | 2 | Question 1 | Introduction | 3 | | | Sole Proprietorship | 4 | | | Partnership | 5 | | | Limited Liabilities Company | 6 | | | Accounting | 7 | | | Benefits of accounting | 7-9 | 3 | Question
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ACCOUNTING FOR INCOME TAXES F 1. Taxable income is a tax accounting term and is also referred to as income before taxes. F 2. Pretax financial income is the amount used to compute income taxes payable. T 3. Deferred tax expense is the increase in the deferred tax liability balance from the beginning to the end of the accounting period. T 4. A deferred tax liability represents the increase in taxes payable in future years as a result of taxable temporary differences existing at the end
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21. Generally accepted accounting principles c. derive their credibility and authority from general recognition and acceptance by the accounting profession. 22. A soundly developed conceptual framework of concepts and objectives should d. all of these. 23. Which of the following (a-c) are not true concerning a conceptual framework in account-ing? c. It should be based on fundamental truths that are derived from the laws of nature. S24. Which of the following is not a benefit associated
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Financial Reporting Accurate financial reporting is paramount to the establishment of a level playing field for businesses. It also aids in analyzing trends in business and the economy. The first part of the research paper should outline the different offices and bureaus of financial reporting and why they are significant. The second part of the research paper will present some positive and negative examples of financial reporting results and offer analysis about them. These examples can incorporate
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1. Accounting is an information and measurement system that: A. Identifies business activities. B. Records business activities. C. Communicates business activities. D. Helps people make better decisions. E. All of these. 2. Technology A. Has replaced accounting. B. Has not changed the work that accountants do. C. Has closely linked accounting with consulting‚ planning‚ and other financial services. D. In accounting has replaced the need for decision makers. E. In accounting is only
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HARMONIZATION OF ACCOUNTING Harmonization vs standardization Harmonization - A process of increasing the compatibility of accounting practices by setting bounds to their degree of variation. Eg. EU Commission Standardization – The imposition of a more rigid and narrow set of rules. Eg. IASB Reasons for harmonization Pressure comes from those who regulate‚ prepare and use financial statements. 1) Investors and financial analysts • Need to be able to understand the financial statements
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302 Accounting Standard (AS) 16 (issued 2000) Borrowing Costs Contents OBJECTIVE SCOPE DEFINITIONS RECOGNITION Borrowing Costs Eligible for Capitalisation Excess of the Carrying Amount of the Qualifying Asset over Recoverable Amount Commencement of Capitalisation Suspension of Capitalisation Cessation of Capitalisation DISCLOSURE Paragraphs 1-2 3-5 6-22 8-12 13 14-16 17-18 19-22 23 The following Accounting Standards Interpretations (ASIs) relate to AS 16: ASI 1- Substantial Period
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| | | |Module Title / Assignment Number: Financial Accounting | | | |Submission Date: January 6th
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