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Situational AnalysisThe marketing audit is one of the most success-critical factors for every business. It is significant for companies of every size to think of undertaking a marketing audit with the purpose of recognizing and reviewing the present position of brand marketing related activities and assist in reducing future expenditure. In the opinion of Baker (2014), it can be stated that predominantly for the SMEs (small to medium enterpris...
DiscussionThe assessment aims to evaluate the annual report of Medibank for the year 2018 for the purpose of assessing the conceptual framework which is followed by the business. The assessment also aims to analyze a new article which is related to the company and the article is related to the dissatisfaction of the customers and also loss of market shares from the core products of the business. The article clearly states that the business is we...
Company OverviewAccounting refers to the process that must be followed by the entities to record the business transactions, present them in a fair and transparent manner and thereby enabling the various stakeholders to form informed judgements about the financial and overall performance (Chand, Patel and White, 2015). The regulatory bodies prescribe a framework comprising of the guidelines, policies, and procedures that must be adhered to while ...
Role of financial accounting in internal and external environment Question 1: Difference between capital expenditure and revenue expenditure: Capital expenditure of an entity represents about the expenses on the fixed assets which is expected to improve the productivity of an asset for a long time whereas the revenue expenditure of an entity is the total cost which is associated to particular revenue transaction such as cost of goods so...
Case 1: Short-term and Long-term Debt FinancingCase 1 From: STUDENT NAME, Consultant To: CEO & Audit Committee Date: November 12, 2017 Subject: Critical analysis of short term & long term financing Dear Sir Financing is crucial for the smooth functioning and expansion of any business. With regards to various sources of financing, some provide short term financing such as commercial papers and working capital loans. On the ot...
Advantages and Disadvantages of Fair Value Accounting (FVA)The main purpose of this assessment is to analyze the concept of fair value accounting and how the same has affect the overall accounting process. The concept of fair value has an important significance in accounting and is used for measuring the assets and liabilities of the business. The fair value accounting principle requires businesses to value their assets and liabilities at curren...
Stakeholder theory: Managerial perspectiveConstitution of audit committee is not mandatory for all corporations in Australia. However, it is recommendatory for all entities to constitute audit committees to ensure compliance with the provisions of Corporations Act 2001 and other legislative requirements for corporations established and incorporated in the country. Companies unlike earlier now requires to make disclosures in relation to corpora...
Assessment Description:The Business-to-Business (B2B) model of e-commerce has been primarily chosen for the conduction of the assessment. The B2B is regarded as a form of business model in which more than two business would be able to interact with each other in daily business transactions (Janita and Miranda 2013). This process involves the form of business transactions among each of the businesses. These kind of business transactions involve...
Classification of Items Accounting for share capital Work note 1 Table for shares Applied, Allocated, Cash received related to application & Excess cash received. Applied Allocated 6,000,000 5,000,000 No. Of shares No. Of shares allocated (B) Total cash received (C) Cash received that related to application Excess cash received from applicati...
Article 1: Reasons for selectingThe report contains an overall study of the two journal articles selected on the topic accounting for Employee Benefits. International Accounting Standard Board has formulated a standard IAS 19 Employee Benefits which lay down some provisions requirements to be followed while accounting for all type of employee benefits. The benefits include all type of services that are provided to the employee in exchange of i...
Introduction and backgroundThe auditors are currently responsible for both the civil as well as the criminal offences. The criminal offences takes place when the companies breaches the rules and the regulations that have bene imposed by the government. There are mainly 2 types of laws, one being criminal which deals with the transactions between the entity and the state and the civil law that deals with the transactions between the individual ...
Client’s Details Client Details Applicant's details Clients Clients First name/s Jacqueline Hugh McDowall Surname McDowall McDowall Number of dependant None None Relationship Wife Husband Employment status Full time Full time Occupation Nurse Truck Driver ...
MethodologyThe audit of a business is conducted with the intention of ensuring that the financial statement which is prepared by a business is showing accurate view of the financial position of the business. The financial statement of the business is the main source of information about the company which is presented to the investors on the basis of which the investors have to judge how the company is performing (Knechel & Salterio, 2016)....
Overview of Trunkey Creek WineThe mechanism of ratio analysis refers to the financial statement assessment for obtaining the financial performance company measurement in the major areas of the business. For the current organization of Trunkey Creek wine that is chosen the accounts which are to be examined includes investments, accounts receivables, marketing expense and property assets. In this section, risk of audit deals is analyzed that dea...
How to use the Jaro score for matching Martha and Marhta 1 >a < - ‘Martha’ 2 >b < - ‘Marhtas’ 3 A = 6 (length of a) 4 B = 6 (length of b) 5 m = 6 (number of shared symbols) 6 t = 1 (number of necessary transpositions 7 >d < - function (A,B,m,t) { 8 + ...
Benefits of Activity Based CostingThe overall report work has provided for the usefulness of the management accounting technique so s to enable the organization concern to grasp the varied sets of the benefits associated with the costing. Further provided, the report has highlighted on the significant factors that are related to the Activity Based Costing so that the resources can be used in the best manner. Further provided, the report projec...
Importance of Ethics in AccountingThe use of ethics in accounting is in general concerned with making good and moral decisions in relation to transparency and disclosure of financial information. However, over prediction of financials would not be breach of ethics. This is due to the reason that, failure to maintain transparency and disclose relevant financial information to the investors would actually affect the decision of the investors (Le...
Steps for determining materialityWhile the auditor carries on the audit procedure the main objective is to express the opinion regarding whether the financial reports are presented in all the material aspects, as per the applicable framework for financial reporting. This is separate decision and separate responsibility that is made by the company while preparing the financial reports (Christensen, Glover & Wolfe, 2014). In auditing context...
What is Activity Based Costing?Activity based costing may be defined as one of the concepts which is being used by the cost and management accountants in their day to day operational activity to allocate the indirect cost of the business processes to different activities, divisions and products as the direct cost is generally allocated in the ratio of the sales of the company. It is one of the widely accepted costing technique in the industry ...
Benefits and drawbacks of standard costing techniquesThe main motive of this report is to analyze that how the tool of management accounting helps in attainment of growth as well as success for an organization. In this report, two articles have been taken into consideration for the correct use of the standard costing so that the correct results for same can be revealed. Also, different questions are taken into consideration which has to b...
False Assurance and Its Role in TrainingIn this assignment three parts and several topics based on accounting of Quintis Ltd will be introduced. As per Part a few answer will be introduced by the help of a video called false assurance and respectively Quintus financial collapse will explained in following Part B. This following article is a research based assignment which has three parts. In following Part C, a brief conclusion about whole l...
The role of assets in hotel managementAccording to Campbell, Jardine and McGlynn (2016) Asset Management is the method of maintaining and effectively utilization of assets of the company. The primary role of assets in hotel management is all about earning revenue and proper utilization of the assets. Where tangible assets usually has a bigger impact on the working of the hotel industry, intangible assets often plays crucial factors in determin...
Areas of Operation for AMP LimitedThe major business that is carried out by AMP Limited is in relation to the financial services like Capital Management, Wealth Management, life insurances, etc. It has also been observed that the inefficiency of the organization in the maintenance of the internal control system has read it too face various legal issues. The goodwill and reputation of the company have fallen down because of the errors and fraud...
Findings and AnalysisCrowdfunding has become a popular technique of raising money for special projects, ideas including events. The concept grew by leaps and bounds in the last couple of years due to the upward trajectory of the start- up culture across the globe. Thus, a wave of organization including funders have come together to help build the momentum of the start-up culture. Crowdfunding is of great importance to people who have brilliant...
The Importance of Management AccountingThe Management Accounting, for any organisation, is an important aspect in the financial system which helps manage and evaluate the business performance effectively. It facilitates the effective decision making through the collection and reporting of internal financial information. Long and short term strategic decisions can be made by the owner of any corporation timely by the critical evaluation and ass...
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