Accounting : Page - 5

Analytical Procedures at Planning StageAuditing is the important aspect of every company working anywhere in world. By doing audit of Financial Results present by the company, the auditor authenticate the results of company which has be used by third party present in internal and external environment in their decision making about the affairs of the company. It shows that role of audit and auditor is important for everyone for management of th...

Explaining the pricing strategy for HWLThe relevant declining pricing strategy is mainly used by the organisation, as the popularity of the solar panels is relatively going to diminishing in three years. Hence, the organisation could adequately choose the depicted prices of the units produced, as it might help in identifying the overall viability of the project (Armstrong 2014). Calculating target cost per unit Year ...

ABC System for Cost AllocationThe following table shows the assignment the costs to the activity centres using the resource driver consumption patterns shown in Schedules 1 and 2:  (Amounts in $)  Cost category  Wages  Building costs  Depreciation  Consumables  Energy  Other  Total  New product development   &nbs...

Case AnalysisDue to the increased complexity of the business processes and pressure of automating the business processes and cost cutting, it becomes impossible for the organizations to run their business without using IT systems in today’s time of Globalization and digitalization. This report will highlight the case study of one such organization called Catapult Stores, which is using traditional legacy systems and now considering upgradi...

Explanation of the Assumptions:The explanations to the assumptions follows that the revenue derived from the occasion with little amount of overhead. This provides the occasion with the speedy break-even point with little amount of overhead (Akintoye, 2014). Prior to arriving at the net profit tax rates are taken into the considerations for information. The event will not carry any loan burden which would be effected by the rate of tax. An ...

CrowdfundingTitle: Research on different aspects and the laws surrounding crowdfunding Capital is a key requirement for any company as for buying the inputs, for paying salaries, for buying land, equipments and for numerous other works of any business, capital is needed. There are different manners in which a company can raise its capital. The conventional methods include issue of shares, debentures, taking loans and the like. However, the un...

Question 1 Particulars Amount ($) Revenue 4.50% 700000 Agency Revenue 31500 Fixed costs Office Rent 3400 depreciation of office furniture 390 electricity 640 multi-line telephone system 380 computer cabling connection 480 ...

ABM Resources NLTo analyze the implication of accounting standards in the accounting procedure of Australian Companies, we have chosen two sample companies. These companies are from GICS group of Materials as per enrollment in ASX listing. They are ABM Resources NL, from Nedlands, Western Australia and Activex Ltd from Queensland, Brisbane. ABM Resources NL is with the ASX code of ABU and Activex Ltd is with the ASX code of AIV. Both companies...

Answering Question 1: Differences between management accounting and financial accountingAnswer 1 (1): Accounting is a vast field. In order to simplify the knowledge and its application it has been divided into management accounting and financial accounting. These two are very different from each other. In the discussion below we will discuss these differences: Objectives: the objective of financial accounting is to disclose and present the...

1. Organisational ContextThe strategic development and planning is a critical factor for the development of the organization and formation of an effective and smart system of operations (Adewole, Odunjo and Misra 2015, 1-5). The implementation of the strategic planning and functional development can be enhanced and further motivated using business management concepts and functions. The smart operations in the business organizations are conclud...

Auditor's IndependenceThis article will be written with the objective of finding the feasibility of independence of auditor with the context of auditor- client relationship with special emphasis on the regulations made by regulatory authority of Australia in the form of The Corporation Act, 2001 of Australia (Intheblack, 2014). To make this use more detailed we have to consider the reference of Australian Securities and Investment Corporati...

Main Organization and its CompetitorsThe primary objective of the study is to present a financial performance evaluation of Air Canada (TSX: AC) and West Jet (TSX: WJA). In this study, key financial ratio are employed for assessment as well as comparison of financial health and condition of the corporation with respect to liquidity, profitability as well as solvency of each of the above mentioned corporations across financial years 2015 and 20...

Situational Context and EvaluationProject portfolio management helps organizations both large and small to break down its project’s resources, its budgets, and targets into manageable elements. This paper will look at the strategies, processes, and deployment of an efficient and easily adaptable project management portfolio in Coca-Cola Company.  Portfolio management helps in improving the multi-level projects of Coca-Cola Company, ...

1. i) The luxury Travel Holidays LTD (LTH) will re-engage Clarke & Johnson (CJ) as the auditor for the upcoming audit for the 30th June 2015 financial report on one condition i.e. the audit partner Geoff would have to give a speech about LTH for their business promotion and attracting investors. Here independence of appearance has been affected where the auditor, having knowledge of all facts of the company, has been forced to address the t...

Introduction to Impairment of AssetsAn asset is said to be impaired when it has lower market price in comparison to its value recorded in the balance sheet of a business entity. The asset impairment is debited as a loss or expenditure during making the journal entry and is subjected to credit for the underlying asset. The net difference between the carrying value and the market value of an asset attributes to the impairment value (Alexander an...

Importance of Auditor Independence in Providing Unbiased OpinionsThe primary responsibility of the auditors is to provide the shareholders of the companies with an honest opinion as to whether the financial statements of the company reflect true and fair financial position of those companies. For this reason, it is important to have independence in the audit process so that the audit opinion of the auditors is not influenced by any relationshi...

Premise and validity of genuine proofAccording to a number of philosophers, a genuine proof refers to a premise or statement that every rational and sane person would find to be convincing after going through the same. The classical arguments regarding the existence of God, however, fail to attain the status of a proof since these arguments are not rationally convincing to all the people who attempt an inspection of the arguments. According to M...

Benefits of ERP ImplementationThe ERP or “Enterprise Resource Planning” is the software of business process management. This permits the organizations to utilize any integrated application system. The purpose is to manage the business with automating back office functions in association with human resources, services and technologies (Lawrence Norton et al. 2013). Various organizations across the globe have used the ERP system of S...

Question 1 a) Benchmark index is a group of stocks/securities which are used as benchmarks to compare the performance of stocks. These are also called the market index. The benchmark index for certain countries is given below: Country Benchmark Index Australia ASX 200 USA Dow Jones Hong Kong Hang Seng Japan Nikkei Index England FTSE 100 China S...

AttachmentsI am drawing your attention to the above-mentioned topic and the assistant general manager on behalf of the information released by institutions. In preparation for an audit process and staffs’ assessment, I request some instructions as below: Concerning the organization necessities, I request everyone to familiarize with the procedures and rules so that their actions lie within the requirements. For official purposes, I...

Meaning of Sustainability accounting and ReportingSustainability accounting and reporting is wide known concept and there has been huge debate over this topic due to its relevance in the outside world. Sustainability accounting is now becomes a generic term and there are many definition to this term as it is very wide concept. Sustainability accounting means accounting of financial as well as non financial matters that represents the perfo...

Difference between static planning and flexible budgetStatic budget is the type of budgeting which incorporates the projected values in regard to outputs and inputs that are mostly conceived prior to the period in the question. They are prepared during the beginning of accounting period, highlighting how much an organization project it would receive and spend (Chenxi, 2011). It usually offers or gives realistic objective for accounting perio...

Working Capital CycleWorking capital can be defined as the measurement aspect related to the efficiency and liquidity of any business. It can also be stated as the capital, used for operate the daily business activities. In general, the excess amount of current assets over the current liabilities of any business firm is regarded as the working capital. The managerial activities, which efficiently maintain the working capital for general busin...

Nationalization of the Bill of Rights and Its OriginCivil liberties rights retained by citizens of the United States as mandated by the constitution and interpreted by the highest court (Supreme Court). They are defined as an individual’s legal and constitutional protections from entities and sections more powerful than an individual. The liberties when clearly defined make up the bill of rights. These rights are found in the constitutio...

Rationale for the communication trainingThe study is related to the proposal of a training and development module for Opal Mart in order to mention all the issues faced by the company in terms of both achievements of communication goals as well as the organizational issues of Opal Mart. The understanding of the need of the communication is to be done by the training company so that the productivity of the company will increase in order to meet...