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FBLT041 Advanced Financial Reporting

Answer: Introduction:  The current report is based on the brief discussion of harmonization and convergence of accounting standards. The aim of this report is to provide a brief discussion of convergence between the IFRS and US GAAP and the highlights the success and setbacks. The report also emphasis on the use of fair values in the presentation and preparation of the financial statement and also provides discussion based on the historical cost by comparing the same with their respective advantage and disadvantage. The report considers the IFRS...

  • Published: 07 Oct 2021
  • Views:11

N400 Accounting

Answer: Part A: Literature Review The main issue for this literature review is to assess the impact that joint US GAAP and IFRS revenue recognition project will have on firms. This literature review seeks to validate that the firms will be affective negatively and positively when the project is fully implemented. Revenues remains an essential number to financial statement users when assessing the financial performance as well as position of an entity. Nevertheless, recognizing revenue requirements in the United States GAAP vary from those of IFRS, an...

  • Published: 04 Oct 2021
  • Views:11

ECON3411 Contemporary Issues in Accounting

Answer: Part 1 Literature review In a perfect world, executives, investors and board members will have complete faith in organisations’ financial statements. According to Young(2013), stakeholders could depend on the figures to make diligent projections of the timing, scale and uncertainty of future cash flows and to determine whether the consequent projection of value was represented fairly in the prevailing stock price.. Firstly, financial statements depend on judgment calls and projections which could be broadly off the mark, even when prep...

  • Published: 29 Sep 2021
  • Views:11

N420 Accounting and Finance

Answer: Part 1: 1 A: The origins of the UK corporate governance system and laws are relied on the values of individualism and freedom of contract. Currently UK makes the use of one-tire board structure having non-executive directors and independent auditors who are used to protect the accountability for shareholders. It is noteworthy to denote that the financial reporting council Combined Code on corporate governance forms the chief tool of governance in UK. The unitary board is collective accountability whereas the duties of chief executive and...

  • Published: 28 Sep 2021
  • Views:11

PM201 Management Accounting

Answer: 1. Analytically discuss how management accounting varies from financial accounting  The financial accounting focuses on the financial reports which are provided to the finance executives, stockholders, lenders and other stakeholders. The financial accounting practices deal with the accounting principles which have to be applied while reporting the outcomes of the business’s previous operations in the financial reports. The Managerial accounting focuses on giving the details inside the business so that the management can ...

  • Published: 27 Sep 2021
  • Views:11

AC6P04 Current Issues in Accounting and Finance

Answer: Introduction: The paper describes about the reporting to stakeholders and what are the measures which are faced by shareholders. Reporting to stakeholders is a process by which information regarding the company dealings are to be made. The information provided by the company to its stakeholders updates the knowledge base of the stakeholders regarding the company, its status and its network.  The main objective behind reporting to the stakeholders is to increase the level of confidence of the stakeholders for the company, so that they wou...

  • Published: 27 Sep 2021
  • Views:11

N420 Accounting and Finance

Answer: It is needed to have concrete evidence before convicting anyone for murder, as murder is not a small crime. Based on some guesses, one cannot be convicted for murder (Burns 2012). The situation is quite same in the murder case of Marcus Donoghue. In this particular case, it is being suspected based on some guesses and incidents that Marcus Donoghue’s wife is the murderer of Marcus Donoghue. There are some evidence based on that Juan Hernandez Alberto is suspected for murder. However, with the help of close observation, it can be understo...

  • Published: 25 Sep 2021
  • Views:11

PM201 Management Accounting

Answer: Introduction: This report has been prepared to analyze the managerial accounting role in an organization. Managerial accounting and financial accounting are different from each other. Managerial accounting helps the management of an organization in taking decisions and reduction in extra cost. It is prepared for the internal stakeholders to understand the business nature and make decisions accordingly. 1) Financial accounting: This is the main element of accounting. Preparation of financial report is mandatory for the organizations as these...

  • Published: 16 Sep 2021
  • Views:11

FBLT041 Accounting and Financial Management

Answer: Notes: The technical and behavioral aspect of budgeting has the beneficial property as the organization has positive impact due to proper understanding and coordination. Technical aspects is one of the most important factors that needs to be considered while determining the success of budgetary control system. In addition to technical side of budget, behavioral aspects integral part of process of budgetary control. Budgetary control success is dependent upon the appreciation of interpersonal relationships between different hierarchal lev...

  • Published: 16 Sep 2021
  • Views:11

NN42 Accounting and Management

Answer: 1. Depicting the overhead analysis table that could be used to allocate the overhead costs: Overhead Analysis Sheet Particulars Basis of apportionment Dept 1 Dept 2 Stores Maintenance Total Indirect materials– X3 model Allocation    £             63,000      £        63,000 Heating and lighting Floor space ...

  • Published: 10 Sep 2021
  • Views:11

AC3059 Financial management

Answer: Task 1: Introduction: The main objective of a company is to maximize the value to the shareholders and the owners. This value is often analyzed through the share price of the company. Barman (2008) explained that if dividends are known as the key indicator of share price and it is known as a key indicator of value of firm than it must be in order to enhance the shareholder wealth. When a company earns the profit, it could either retain the profits for further expansion or pay to the shareholders as dividend. Dividend policies refer to the r...

  • Published: 10 Sep 2021
  • Views:11

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