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Accounting Information System for Income Statement Return

Question: Describe about the Accounting Information System for Income Statement Return. Answer: 1.0 John Smith is preparing the income statement return for his client for the financial year which ends in 30th June. However, the client pays for advertising on 2nd July and asks to backdate the expense to the preceding financial year. By backdating the deduction (expense for advertisement), the client can reduce their amount of tax payments on an immediate basis. Though it is just a matter of two days between 30th June and 2nd July, but such expenses ...

  • Published: 16 Oct, 2017
  • Views: 693

Strategic Information Systems for Software Packages

Question: Discuss about the Strategic Information Systems for Software Packages. Answer: Introduction Accounting is an industry that has its place in a number of different sectors and is applied across all types of businesses in one way or the other. There are a number of services and operations that come under the accounting procedure and the industry has witnessed some of the major revolutions in the past few years. There have been massive developments and changes as per the changes in the technology. The report covers the brief history of the a...

  • Published: 20 Nov, 2017
  • Views: 566

Cost Accounting

Question: Discuss about the Cost Accounting. Answer:  Introduction Samsung Group established Samsung Electric Industries in 1969 in South Korea. It commenced with electrical appliances like refrigerators, televisions, washing machines, calculators and air conditioners, it soon joined hands with Japanese NEC Corporation to enter into the home appliances market and audiovisual devices. The vision of Samsung is dedicated to developing innovative technologies and efficient processes that create new markets enrich people’s lives and continue to ...

  • Published: 20 Nov, 2017
  • Views: 932

Professional Skepticism in Auditing

Question:  Discuss about the Professional Skepticism in Auditing. Answer: Introduction According to Gunn and Jules (2012), the term Professional skepticism refers to an “attitude”. An attitude like this in the auditing scenario deals with a questioning mindset, being cautious of the conditions that may indicate the possibility of any contradictions which may arise in the audited evidence. The attitude also deals with a questioning approach which is used to address several instances related to the possibility of any misstatement, error or f...

  • Published: 23 Nov, 2017
  • Views: 3665

Advanced Financial Accounting and Business Practices

Question: Discuss about the Advanced Financial Accounting and Business Practices. Answer: In the globalization era, sustainable business practices and corporate social responsibility has become essential for the organizations. It requires the business entities to maintain the accounting system with complete disclosures of financial as well as non- financial information on the overall performance of the organizations. These disclosures assist the stakeholders of the organizations and direct impact on environmental, social and economic factors. There ...

  • Published: 23 Nov, 2017
  • Views: 616

Accounting and Professional Practice for Financial Services Centre

Question: Discuss about the Accounting and Professional Practice for Financial Services Centre. Answer: Scenario one Fundamental principles are the ethical codes that business organizations need to conduct to operate their business activities and functions. The management of the companies is required to follow the business policies legally and with best business practices to safeguard the interest of the stakeholders (Arens, Elder & Beasley, 2012). In the given scenario, review of the cash flow statement of a company Steel Pty Ltd. has been conduct...

  • Published: 23 Nov, 2017
  • Views: 583

Accounting Software in Australia

Question: Discuss about the  Accounting Software in Australia. Answer: Introduction In this study the description of the accounting software along with its history, implementation, deployment and competitive advantages. Especially the detailed analysis on the development and competitive advantage of the software is provided in the study. The accounting software can be referred to as the software which is responsible for processing and recording transactions that are related to accounting (QuickBooks and Premiere 2013). The transactions are di...

  • Published: 23 Nov, 2017
  • Views: 634

Auditing & Assurance of Risk for Companies

Question: Describe about the Auditing & Assurance of Risk for Companies. Answer: 1. a) There are several risks for the companies, which are involving with the insurance business and the company ‘HIH Insurance Limited’, which case has been taken to study the business risks and inherent risk is also facing few of the important business risks that become the cause of the failure of the company (Gates and Leuschner, 2007). The property as well as causality insurance companies use to face several different types of business risks, which are recogniz...

  • Published: 23 Nov, 2017
  • Views: 623

Auditing and Assurance of Assessment & Effective Reporting

Question: Describe about the Auditing and Assurance of Assessment & Effective Reporting. Answer: HIH Insurance Limited, as originally formed in 1968, and finally restructured in 1998, was doing insurance business. But its ways seemed to be quite different from how an insurance business should ideally be done. And this exposed HIH Insurance Limited to multiple risks and this, in turn led to the failure of HIH Insurance Limited. There were a number of risks inherent to the HIH Insurance Limited. The business activities of the company were always questio...

  • Published: 23 Nov, 2017
  • Views: 529

Soft Skill in Accounting Education and Related Issues

Question: Describe about the Soft Skill in Accounting Education and Related Issues. Answer: Introduction According to Viviers Fouché and Reitsma (2016), soft skills are defined as the presence of traits and interpersonal skill in an individual, whicn is used to evaluate the relationship of one person with another.  In every field, the role of soft skills becomes very essential for progress of the business and industry. In addition, it has special importance in the field of education. From last two decades, it was observed that there is dramatic ...

  • Published: 24 Nov, 2017
  • Views: 605

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