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New Trends in Accounting

Question: Discuss about the New Trends in Accounting. Answer:   Introduction  This paper aims at explaining concepts of accounting in relation to theories, measurement of financial accounting, accounting regulation and politics and the standard setting process. It provides a wider scope on how emerging trends and confusing terminologies hindering the disclosure of financial statements can be dealt with. Accounting is a branch of business dealing with identification, measurement and communication of economic information to allow judg...

  • Published: 03 Jan, 2018
  • Views: 1000

Accounting Balances Data for the Russell Company

Question: Describe about the Accounting Balances Data for the Russell Company . Answer: 1. Given, accounting balances data for the Russell Company as on June 30, 20X5 as compiled in the attached excel sheet under Data heading; the answers to the requirements are as below:   Prepare a budgeted income statement for June 20X5 Income statement refers to the financial statement which records the revenues and expenses of any company for the considered period. It is accrued in nature having captured even some of the non-cashflow incurring events like...

  • Published: 02 Jan, 2018
  • Views: 482

Accounting for Business

Question:  Discuss about the Accounting for Business.  Answer:  Small Business Analysis On the basis of provided information, the principle ratios of TEDA Ltd are as followed: The Entity’s Earning Ability Return on Assets Ratio This ratio determines the ability of the firm in using assets to generate income. The return on assets ratio is as follow: Return On Assets Net Income 75,000 Average Total Assets (387,500 + 420,675)/2 = 404,088 Ratio 18.56% Profit Margin Rat...

  • Published: 30 Dec, 2017
  • Views: 469

Business Research for Strategic Information Systems

Question: Discuss about the Business Research for Strategic Information Systems. Answer: Introduction: Accounting software is defined as the set of programs that are being used by the accountants for bookkeeping, recording their important data and other also for doing specific calculations. In contrast with the scenario here the Australian accounting software are the matter of concern (Andone and Pavaloaia 2013).  There is several accounting software available by those financial data and calculations can be done. Small and mid-sized businesses are...

  • Published: 29 Dec, 2017
  • Views: 535

Accounting Information System in Bakery Business

Question: Describe about the Accounting Information System in Bakery Business . Answer: Introduction This report includes processes for the selection of an accounting information system (AIS) in detail. B Bakers is the case organization for which, AIS is proposed in this report by performing consecutive steps such as definition of business processes, develop business requirements, and determine system requirements, software selection and vendor selection. These would be effective to ensure informed information technology (IT) investment. 1. Bu...

  • Published: 28 Dec, 2017
  • Views: 1812

Accounting and Reporting: Impairment Loss

Question: Discuss about the Accounting and Reporting for Impairment Loss. Answer: Introduction The Nature of “Impairment Loss” and Required Disclosures IAS 36 Impairment of assets ensures that the assets of a company are not carried at ore than their recoverable amount. Corporations are therefore mandated to conduct an impairment test to determine the recoverable amount of the assets (, 2015). At the end of each financial year, a company ought to determine whether there is an indication that the asset at hand is impaired. Impairment...

  • Published: 27 Dec, 2017
  • Views: 552

Analysis of Xero Accounting Software

Question: Discuss about the Analysis of Xero Accounting Software. Answer: Introduction The computer program that helps the accountants and the bookkeepers to record and analyze the financial and the accounting transactions of an organization is termed as the accounting software (Ramanathan 2014). The aim of this literature review is to understand the various aspects of the accounting software that has been developed by Xero. The accounting software that has been developed by Xero offers many functionalities, and understanding has been developed thr...

  • Published: 20 Dec, 2017
  • Views: 752

Theory and Current Issues in Accounting

Question: Discuss about the Theory and Current Issues in Accounting. Answer: Introduction In this report, the theory related to recent issues that occur, on a regular basis with accounting procedures and policies are being discussed and some objects related to the financial accounting will be stated. The related elements of accounting are listed with a comparative description and the usage. The elements of accounting and their significance are being analysed with respect to the current issues of accounting (AASB, 2016). The essay contains the th...

  • Published: 20 Dec, 2017
  • Views: 694

Auditing and Assurance for Misguiding Information

Question: Discuss about the Auditing and Assurance for Misguiding Information. Answer: 1:- Inherent risk can be described as the probability of improper or misguiding information, provided in the financial statements, due to various aspects, except failure of controls. It is classified as an audit risk. It is the most insidious amongst all the audit risk factors and cannot be controlled through strict control and auditing processes. The financial reports of One.Tel depict several conflicting facts. The balance sheet of the company indicates that ...

  • Published: 20 Dec, 2017
  • Views: 570

Auditing and Assurance in Australian for One Tel

Question: Discuss about the Auditing and Assurance in Australian for One Tel. Answer: 1: Introduction: This is to be acknowledged that risk taking is fundamental characteristic of business. The inherent part of the risk comes from various facade of transaction. The business and organization should have the philosophy and culture of risk management. The risk management practices should be formed along with risk framework which includes appropriate risk awareness. The part of the process is effective risk management practices. The risk management prac...

  • Published: 19 Dec, 2017
  • Views: 609

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