Accounting : Page - 8

Relevance and application of the social contract to Legitimacy Theory in accountingThis study deals with analysing the relevance and application of social contract to Legitimacy Theory in Accounting (Van Bommel, 2014). The current segment explains that legitimacy theory in the area of accounting is significant in increasing the financial framework of Business Corporation and takes into account execution of social contract in aligning with the ...

Key InformationAuditing is a process which can be defined as conducting inspection of financial statements of a company. Auditor is a person who conducts the process of auditing. There are mainly two method of auditing i.e. internal auditing and external auditing. In the internal auditing, an audit department is established within the organization and the audit report is prepared by that internal auditing department only. On the other hand, co...

Required journal entries Date Account description Amount Amount 01-07-14 Equipment    800,000.00 Cash        800,000.00 Equipment purchased 30-06-15 Depreciation expenses      152,000.00 Accumulated depreciation  &...

The Concept of Auditor's IndependenceThe independence of the auditor explains the independency of the all the auditors irrespective of external or internal from the interested persons who may have a significant influence on the financial report of any entity. The auditors to be independent must apply the integrity and objectivity approach while performing the audit process. The independency of the auditor requires them to perform the audit wit...

Agency TheoryThe paper has discussed the impacts of CBA’s removal of the ATM fees on its business. The Legitimacy theory and Agency Theory have been used to determine whether it was correct for CBA to axe the ATMs fees. Both theory have presented valid arguments is support of the axing of ATM fees by CBA. The Institutional Theory has been used to explain why other Big Three Banks including ANZ, NBA and Westpac also ditched the ATMs immed...

Arrive with certain situations in organizational performance managementOrganizational performance management may be defined as a process of ensuring that company resources are being used in the pursuit of company objectives. The theory of performance management is commonly applied for the development of the employee. Performance management not only considers only individual employee as well as on groups, projects, process and the organization ov...

Issues likely to be significant from using a 'single instance of an ERP'The paper focuses on “Enterprise Information System” which is a kind of information system that helps in improving the functions of an enterprise business processes (Grainger and McKay 2015). The main aim of the paper is to reflect on the case study “The long and winding road of enterprise system implementation: finding success or failure?" in order analy...

Background of the organizationThe company was incorporated on December 5th in 1924.The company is doing business in Australian and New Zealand in retail sector and is second largest company of earning revenue in Retail Sector. The company has segments of business operations in Australia –Food and Petrol, hotels, Endeavour Drinks Groups and BIGW and in New Zealand it has supermarkets. The goal of the company is the customer is suprem...

Task A1: Complete Budgeted Income StatementThe budget which is prepared is based on a quarter and the budget shows both actual and budgeted results of ACA Travel Agency. The main source of revenue of the business is through international package, domestic packages, international air travel and domestic air travel. The budgeted estimate which is made by the business in case of revenues of the business is shown to be $ 2,508,000 and the actual r...

Definition of Recoverable Amount in Impairment AccountingEvery company having assets in their balance sheet has to deal with concept of recoverable amount which has been determined using principles and concepts as laid in AASB 136/IAS 36 – Impairment of Assets.   According to Australian Accounting Standard Board 136 which deals with impairment of Assets, the recoverable amount for financial accounting implies the greater of market ...

TBR Infra PVT Ltd.Activity-Based Costing (ABC) has been significance since the 1980s since it stays away from cost twists and gives a method see which traditional cost accounting can't give. Activity-Based Costing is based on a "stream see" in progress speculation in that ABC gets two-arranged costing, i.e., assets are doled out to exercises and exercises are doled out to cost objects (Cardos, I.R. 2010) [4]. The construction market is very...

Computation of Key Financial Ratios of the CompaniesThe assessment is subdivided into two parts which is task 1 and task 2 and both the parts are covered in the discussion section. The first part analyzes the business of two companies which are Marks and Spencer and Next Plc which is operating in the same industry. The purpose of the analysis is to understand which business is performing better in financial terms. The first part shows applica...

Objectives of AASB 13The Australian Accounting Standard Board (AASB) aims at formulating such Australian Accounting Standards that includes interpretations and are required to be applied by : Organizations required to present and prepare financial reports according to Corporations Act 2001 ; Governments who are required to prepare financial reports for the entire General Government Sector (GGS) ; Reporting entities whether they are profit...

Customer relationship managementAs identified from the case study, there are certain outstanding issues inherent in Harry Rosen Inc and they are enumerated briefly as follows: Harry Rosen Inc is committed to provide effective customer service. The organisation depends on one-to-one sales approach, in which the customers are boosted in booking an appointment with a sales associate for enabling them to undertake purchase decisions. However,...

Answer: Assumptions:  In this document the information has been provided to fill Certificate IV for Mortgage Loan. Due to lack of information number of fields have been left vacant. It is important to note that the monthly food and other expenses have been assumed to complete the document (Reed, 2016). In respect of various fees where no particular information has been given it has been assumed no such fees are required to be paid for th...

Project OverviewThis research paper covers the building of a manufacturing facility for developing reinforcing steel for the Queensland construction market. The preliminary designs of both factory and the manufacturing processes for the reinforcing steel bars and the mesh are also covered in this paper. The manufacturing process is the step of transforming the raw materials into the final product and it has a complete chain which is circular. ...

Acquisition analysis Share capital    100,000 Retained earnings    175,000 Plant      21,000 Computer equipment      14,000 Net fair value of identifiable assets and liabilities    310,000 Net fair value of identifiable assets and liabilities  ...

Three major problems currently faced by Parts Emporium are as following: Inadequate customer services. Ineffective stock management of the company. Inability to meet the demand of the customers due to stock out situation. Conducting a detailed investigation on the company and its environment along with appraisal of its historic financial performance shall be a better way to get a total and clear picture about the company and its operatio...

Challenges in the Accounting SectorPerformance of accountants at Caltex can be influenced by many things and concept and theories are some of the many ways. Managerial performance is the measurement of managers productivity in a company, through the evaluation of the quality and quantity of the fulfillment of the goals that were set by the budget, effectiveness of the practices conducted by the accountants, and finally the total number of in...

Scope of the ResearchKentucky Fried Chicken which is commonly known as KFC is a fast-moving food restaurant that deals mostly with fried chicken and other items related to chicken. According to Pradhan (2018 p. 18), the company which was incorporated in 1995 was begun by Harland Sanders. KFC headquarters are now in Louisville in the United States of America. The company stands to be the second fast moving food restaurant after the biggest one Mc...

The ATM Use CasesAn automated teller machine is an electronic telecommunication device which are used by banks or other money-dealing organizations in order to server their clients or customers. A bank ATM (Automated Teller Machine) is one that helps its customers to interact with the bank and fulfill their purposes even without the need to visit the bank premises. In this report, an ATM system will be designed for a retail bank keeping in min...

Answer: After-tax cash flows (A) Statement Showing After-tax Cash Flows for the proposed "Buddy" Capital Investment (IN Million AUD $) Particulars Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Unit Sales 16.00 16.00 16.00 16.00 16.00 16.00 16.00 16.00 16.00 16.00 Sales Price per Unit ...

Requirements for LMM AccountingThe case study considered for this report is a local start-up firm named as LMM Accounting. This is a small local firm that runs small business on a part time basis from home itself. The owner of the company now wants to expand its business to next level by employing employees on full time basis and also wants to run his business from some local business hub. The local business hubs are defined where number of sm...

Answer: Journal Entries: In the books of ……. Journal Entries       Dr. Cr. Date Particulars Amount Amount           01-01-2015 Cash A/c. Dr. $1,00,000     To, Common Stock A/c.   $1,00,000     ...

Background and AbstractA report has been prepared having 2 questions. The 1st question includes the profit and loss account and the balance sheet based on which the profitability and liquidity ratios have been calculated for the 2 companies ABC Ltd and XYZ Ltd and the performance of the companies have been analysed based on the same (Boccia & Leonardi, 2016). Furthermore the inventory turnover ratio as well as inventory turnover ...