Accounting

The accounting cycle is the accounting process of recording, summarizing and presentation of business and financial information to a company’s interested parties. The accounting process consists of a series of steps or stages of the accounting cycle, which serves as the logical progression of carrying out related accounting tasks. Important tasks in the accounting cycle…

By using accounting information systems, it will surely enhance the management, controlling the organization, and it makes a huge improvement in technology, which successfully will achieve the organizational goals of the company (Soudani, 2012). Each institution either concerning to have profit or not seeking for profit is in need to take part for AIS as…

Leadership is a process by which an executive can direct, guide and influence the behavior and work of others towards accomplishment of specific goals in a given situation. While between the leader and followers, the influence is mutual, together, they influence the environment around them in some way. To be effective leaders, managers must understand…

Accounting is the methodical process of identifying, measuring, recording, classifying, summarizing, and understanding financial information, and communicating the results by way of the preparation of financial statements. Accounting helps in the decision-making actions of management. It is beneficial in pursuing the performance and development of a business. Without accounting, there would be no way for…

Current and Long-Term Liabilities Liabilities Defined A probable future payment of assets or services a company is presently obligated to make as a result of past transactions or events. Fundamentally liabilities are measured by the cost principle however: Liabilities are comprised of known obligations of a definite amount and known obligations of an estimated amount…

An investigation led by BBC’s Panorama identified the issues of accounting mis-declaration including an overstatement of commercial income by GBP 208 million9 and the cases of supplier mistreatment. In one notable case, “L’Oreal, which led the French cosmetics giant to threaten legal action after a disputed payment of about GBP1m demanded by Tesco”.10 An extensive…

The vagueness and subjectivity of Accounting standards led to the situation there is accounting choices that needed professional judgement. Healy and Whalen define earning management as “managers implement personal judgement in financial reporting to manipulate the financial report to mislead stakeholders (i.e. investors) about a company’s underlying financial performance or to influence contractual outcomes that…

Nature and Objective of Financial Accounting, Accounting Principles and Regulatory Framework. Task 1 Pros and cons for four forms of business organizations There are four types of business organizations, which is Sole Proprietorship, Partnership, Corporations and Limited Liability Company. The pros and cons will help the business owner to decide which type of business entity…

Over the years there have been many businesses and businessman. Some have prospered and some have lost everything. But only a select few have ever dominated an entire market and form a true monopoly. The government forbids such businesses but people still strive to achieve such stature. The two true powerhouses of the past 300…

The banking sector constitutes the greater part of the Turkish financial system. Banks carry out a great portion of the activities taking place in both money and capital markets. The share of the banking sector in the financial system as of the end of March 1997 was 71 %. Turkey’s financial system and its banking…