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Plagiarism and its collusion

Plagiarism is an activity where someone considers other’s work as their personal work. Basically, this activity is done by the students to accomplish their work and assignments. Plagiarism is itself a dishonest work as the work is stolen and no credit is given to the source from where the matter has been taken. Mainly two activities are concerned with this activity; one is filching the task from someone’s book, article, letter, online source, research paper etc and then depicts it as the work which has been done by them only. Such kind of activities are not permeable and the universities or if some person found involved in such activity, than university has a right to penalize the person and cancel the work (plagiarism.org, 2017).

The collusion of plagiarism is not fine for  the students who are honest with their work as many online websites and content writers are there to help them to offer 0% plagiarism work with high content that could help the student to get good marks. And thus the honest student who has done their work themselves do not get high marks and a dishonest student get HD.

Website

Comment

URL

AICPA

AICPA is an online website which helps the professionals of accounting and auditing to enhance their capability in terms of ethics and various accounting terms.

https://www.aicpa.org

FASB

FASB is an online website which helps the private organization to prepare the final financial statement by considering many new accounting rules and regulations.

https://www.fasb.org/home

Accounting info

“Accounting Info” is an online website which is helpful for the accounting student as it offers numerous study materials to the student and also assists them to understand the accounting concept.

https://accountinginfo.com/study/je/je-01.htm

Gradestack.com

“Gradestack.com” is an online website which is helpful for the accounting professional student as it clears many confusion and help them to understand the accounting concept.

https://gradestack.com/Class-11th-Commerce/Financial-Statements-/Provision-for-Doubtful/17612-3454-30328-study-wtw

IPA which stands for institute of public accountant is one of the most used proficient bodies of accounting in Australia.  IPA provides the various ways and techniques for the professionals of accounting to enhance their growth by developing their knowledge and make the changes into some random rules and regulations.  IPA is one of the most useful website for the students to look for the materials for their study and it also offer various practice manual to the student to understand every concept (IPA, 2017).

IPA offers almost every related study material on its website so that it becomes easy for the student to get them and read them. Various subject’s study material such as law, financial planning, budgeting, costing, financial management, taxation, auditing etc are available on its website. It is one of the most used website by the students foe their assistance in the study.

It has been analyzed through a study that the computing environment of an organization should be comfortable for the employees and it must be updated so that the employees of the company could work with full of their efficiently and successfully. The environment in concern of computing is a grouping of numerous hardware and software and many other resources.  This grouping aids the employees in completing the assignment. Hardware consists of keyboard, mouse, scanner, printer monitor, CPU, data cable, modem etc. while Software consists of Spreadsheets, power point, doc files, Database system etc.

Software used by an organization should be updated so that it becomes easy for the employees to complete their task with easiness. If software is updated than it becomes easy for the workers to complete the task in no time. It has also been found that operating system also plays an important role in it, operating system must be chosen according to the work and the team so that the work could be done efficiently (Science daily, 2017).

Accounting resources on the internet

Power point aids to depict the information in an expert style. Doc files aids to records and preserve the knowledge and special information of the organization. Data base administration is cooperative to maintain a track over the operations and business functioning and also keep up the activities of the organization. Spreadsheet is cooperative to arrange the final statement and investigate the situation of corporation.

Hardware plays the indispensable role in association. Without the assistance of hardware, software could not be run. Hardware is helpful to provide the command to the CPU and get the outcome back. Hardware should be in an ideal state so that worker could do employment efficiently (Nobes & Parker, 2008). CPU is the chief hardware. It furnishes authority to the software to complete the job. Data cable aids to move the data. Modem aids to attach the network form system. Further the scanner and printer aid for encoding and decoding the outcome from system.

Thus it has been analyzed that the computing surroundings of an association must be updated so it becomes easy for the employees to work efficiently and with no time.

  1. Financial report and its purpose:

Main final financial statements of an organization are Income statement, cash flow statement and balance sheet. Every final statement of the company is helpful to depict an idea about the organization. Income statement clarifies the gainful state of an association. In the income statement of a company, revenues, expenses of the company are considered and it has been analyzed that how much operating and net profit has been gained by the company in a particular time period.

Cash flow statement depicts about the entire cash inflow and outflow of an organization. This statement is useful for the organization to analyze the total cash which has been gained by the company in a year and total cash which has been paid by the company in a year. It helps the company to analyze the cash position of the company.

Balance sheet is also the important final statement of an organization. It depicts about the assets, equity and liabilities of the company. Balance sheet classifies the assets and liabilities into many sub parts to analyze better information about the financial strength of the company. It is helpful o investigate over the financial strength of a company.

  1. Summary of key lessons:

ABC learning has become in the Australian marketplace as the quickly growing companies. In 2008-09, the corporation became broke. Company was operating and sustaining the industry of child care in Australian market. This company has executed its business very well while performing its business functioning. It has been found that the growth of the corporation was striking and accordingly many investors made huge investment in the company.

The annual reports, 2006 of the corporation has been analyzed and found that the share price of the corporation were on the peak at that time in Australian market. Corporation has extended in its business functioning to enhance the income more. Corporation had obtained many other corporations which are engaged in the similar business to clutch more market share. In the annual report of 2008-09, auditing was running and it had been observed by the auditor that corporation had overstated the value of assets in its final statement. Corporation has influenced the statements to catch the attention of the investors and for it, corporation had also overlooked the rules and regulations of accounting and accounting principles for enhance the attractiveness of the statement (CPA, 2017). After conducting the audit, it has been observed that the share price of the company has become lower and in result, the company had become insolvent. Through this case study, it has been observed that an accounting professional and auditing professional must keep entire rules into their mind while preparing the reports.

  1. Ethical issues:

According to this case study, it has been analyzed that there are various issues which have been faced by the company. Some of them are as follows:

  • Lack of knowledge about the accounting standard
  • Exploitation of accounts
  • Centralized system

S. No.

Account Title

Type of Account

1

Loan Payable

Liability

2

Rent Expense

Expense

3

Cash

Asset

4

Office Supplies

Asset

5

Salary Expense

Expense

6

Salary Payable

Liability

7

Property Tax Expense

Expense

8

Prepaid Expenses

Asset

9

Office Furniture

Asset

10

Electricity and Gas Expense

Expense

11

Accounts Payable

Liability

12

Davis, Capital

Proprietorship

13

Service Revenue

Revenue

14

Accounts Receivable

Asset

15

Supplier Expense

Expense

16

Investments

Asset

Debit Balances

Credit Balances

Purchase Account

Sales account

Loss on sales a/c

Long term loans

Bad Debts Account

Unearned Revenue

wages

Capital

Accrued expenses

Expenses a/c Dr

Accrued Expenses Cr

Accrued Revenue

Accrued Revenue Dr

Revenue a/c Cr

Unearned Revenue

Revenue A/c Dr

Unearned revenue Cr

Prepaid Expenses

Prepaid expenses a/c Dr

Expenses a/c Cr

(My accounting course, 2017)

Current and non-current assets are the part of assets. Basically, those assets which are probable to be switch into cash in a year and which is listed in the final financial statement such as stock, cash equivalents, accrued revenue, accounts receivable, bills receivable etc are the current assets while those assets which would be switch into cash after a year and which is listed in the final financial statement such as fixed deposits, equipments, machineries, buildings, furniture, long term investment etc are the non-current assets (Accounting explained, 2017).

Current ratio is evaluated on the base of current liabilities and assets to investigate the liquid phase of the corporation. Following are the example where current assets is AUD $ 5000 and current liabilities is AUD $ 3000. The current asset of the company is as follows:

Current assets

    5,000.00

Current liabilities

    3,000.00

Current ratio

1.6666667

In above example, 1.67 is the current ratio of the company which depict that the liquid position of the company is on a satisfactory level.

References:

Accountingexplained. 2017. Non-current assets. Retrieved August 22, 2017, from https://accountingexplained.com/financial/non-current-assets/

CPA. 2017. ABC Learning collapse case study. Retrieved August 22, 2017 from https://www.cpaaustralia.com.au/professional-resources/education/abc-learning-collapse-case-study

CPA. 2017. Toolkit. Retrieved August 22, 2017, from https://www.cpaaustralia.com.au/professional-resources/financial-planning/toolkit

IPA. 2017. Home. Retrieved August 22, 2017, from https://www.publicaccountants.org.au/

Myaccountingcourse. 2017. Adjusting Entries. Retrieved August 22, 2017, from https://www.myaccountingcourse.com/accounting-cycle/adjusting-entries

Nobes, C., & Parker, R. H. 2008. Comparative international accounting. Pearson Education

Plagiarism.org. 2017. What is Plagiarism? Retrieved August 22, 2017, from https://www.plagiarism.org/plagiarism-101/what-is-plagiarism/

Sciencedaily. 2017. Computer Security: Reducing risks of malware infections. Retrieved August 22, 2017 https://www.sciencedaily.com/releases/2013/12/131216142931.htm
Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2022). Plagiarism, Accounting Resources, Work Integrated Assessment, And ABC Learning Essay.. Retrieved from https://myassignmenthelp.com/free-samples/bfa504-accounting-systems-and-processes/financial-accounting-strategy-file-A9428E.html.

"Plagiarism, Accounting Resources, Work Integrated Assessment, And ABC Learning Essay.." My Assignment Help, 2022, https://myassignmenthelp.com/free-samples/bfa504-accounting-systems-and-processes/financial-accounting-strategy-file-A9428E.html.

My Assignment Help (2022) Plagiarism, Accounting Resources, Work Integrated Assessment, And ABC Learning Essay. [Online]. Available from: https://myassignmenthelp.com/free-samples/bfa504-accounting-systems-and-processes/financial-accounting-strategy-file-A9428E.html
[Accessed 24 July 2024].

My Assignment Help. 'Plagiarism, Accounting Resources, Work Integrated Assessment, And ABC Learning Essay.' (My Assignment Help, 2022) <https://myassignmenthelp.com/free-samples/bfa504-accounting-systems-and-processes/financial-accounting-strategy-file-A9428E.html> accessed 24 July 2024.

My Assignment Help. Plagiarism, Accounting Resources, Work Integrated Assessment, And ABC Learning Essay. [Internet]. My Assignment Help. 2022 [cited 24 July 2024]. Available from: https://myassignmenthelp.com/free-samples/bfa504-accounting-systems-and-processes/financial-accounting-strategy-file-A9428E.html.

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