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Creative Accounting Measurement and Behavior

Question: Discuss about the Creative Accounting Measurement and Behavior. Answer: Introduction: In the broad perspective, the “fair value of the asset is the amount for which the asset could be exchanged, or liability settled between knowledgeable, willing parties, in an arm’s length transaction”. Under the accounting standard, Pringle Limited needs to revalue their non-current assets while changing the method of the “straight line method” to “Sum of year’s digital method”. On the other hand, costs which are significantly related to...

  • Published: 02 Dec, 2017
  • Views: 449

Accounting Theory and Current Issues

Questions: Discuss about the Accounting Theory and Current Issues.  Answers: Introduction According to the study, it is found that BSF limited is a “Bio Research Company” which is situated in Australia. It is also listed over Australian stock exchange as per the market overview report. Their experts are attached with one of the most creative research activities related to sustainable aqua culture and processing them from last two decades. These researches activities are based on the feeding based on plantation become failed (AASB.gov.au,...

  • Published: 30 Nov, 2017
  • Views: 504

Ethics Accounting

Question: Discuss about the Ethics Accounting. Answer: Introduction The aim of this report is to build up the understanding of the APES 110 ethical code of conduct for the professional accountants. This report focuses on the different language used in the APES 110. At the same time, it explores the importance of the APES 110 for the professional accountants. This report also analyzes the impact of the language used in the APES 110 on the compliance of accountants to the code of ethical conduct. Finally, this report will analyze the impact of APES...

  • Published: 29 Nov, 2017
  • Views: 680

Auditing And Assurance Services for Sale of a Property

Question: Discuss about the Auditing And Assurance Services for Sale of a Property. Answer: Case Study 1: Capital Gains Tax Capital gains are the returns realized from the sale of a property or an investment. According to the eighth schedule of the income tax act 58 of 1962, it can be the sale of common stock, furniture, one’s premises, land, property, equipment, and so forth. It calculated by taking the amount realized from the sale less any amount incurred while buying the asset or investment (Berube, & Pinto, 2010). The sales price may inc...

  • Published: 29 Nov, 2017
  • Views: 393

Auditing And Assurance Services for Inherent Risk

Question: Discuss about the Auditing And Assurance Services for Inherent Risk. Answer: 1 —Business Risk and Inherent Risk Assessments The business risk of HIH should be considered from a global as well as the local environment perspective. An understanding of the insurance industry and a SWOT analysis of HIH in particular would also be helpful in determining the risk associated with the company both at present as well as in the future. The major factors contributing to the losses faced by HIH may be attributed to the insurance industry in Aus...

  • Published: 29 Nov, 2017
  • Views: 399

Auditing Case Study for Terminology Business Risk

Question: Discuss about the Auditing Case Study for Terminology Business Risk. Answer: 1. (a) The terminology business risk is considered as a probability that the business of an organization might have a decreased amount of profit than what was expected or the business of an organization might have make losses instead of making profit. It has been found that the risks of any business is commonly influenced by different factors, such as – costs of input, volume of sales, price per unit, the entire situation like competition, economic climate ...

  • Published: 29 Nov, 2017
  • Views: 491

Current Development in Accounting Thought

Question: Discuss about the Current Development in Accounting Thought. Answer: Introduction  In the recent decades, accountants are facing several changes in the profession due to the rapid shift evident in the market, wherein parallel to opportunity enhancement several issues have also been raised. With these increasing issues, it has become difficult for the accountants to focus on a particular issue and implement measure accordingly. Integrity and accountability are considered to be major issues that need to be addressed by the accountant...

  • Published: 29 Nov, 2017
  • Views: 447

Accounting for Managers for Depreciate the Value

Question: Discuss about the Accounting for Managers for Depreciate the Value. Answer: 1: (a) Straight- line depreciation method is used to depreciate the value of assets uniformly over the expected usage life of such assets. The method is used by reducing the cost of asset by salvage value and dividing the difference by number of useful life, which represents equal amount of depreciation over the useful period (Qian et al. 2016). On the contrary, double- declining balance depreciation method is used to depreciate the assets with long useful life at...

  • Published: 28 Nov, 2017
  • Views: 458

Accounting Information System

Question: Discuss about the Accounting Information System. Answer: Introduction This report discusses about business intelligence and its application in the context of various businesses. Further, reasons of failure of payroll system implementation project at Queensland Health are discussed and recommendations are provided for future implemtation. Meaning of Business Intelligence Business Intelligence can be defined as a set of tools and techniques for the collection, analysis, integration and effective presentation of business information. ...

  • Published: 28 Nov, 2017
  • Views: 408

Cost and Management Accounting

Question: Discuss about the Cost and Management Accounting. Answer: Introduction The report aims to evaluate the importance and purpose of the product costing system in relation to Seafarer Kayaks. In addition, the comments on AASB 102 have been also described vividly, which are associated with the production cost. Furthermore, the schedules related to cost of sales and cost of goods manufactured are being prepared based on the provided data. The latter section of the report demonstrates the preparation of the T-accounts, the overheads computed a...

  • Published: 27 Nov, 2017
  • Views: 416

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