Guaranteed Higher Grade!
Free Quote
The Bankruptcy of Lehman BrothersDiscuss about the Process of Auditing Assurance and Services. Auditing is the process of inspecting different kinds of accounts of an organization. Many financial accounts need to be created at the time of carrying on the business operation of an organization. It is necessary to verify the viability of those accounts. The role of the auditors is to inspect those accounts of the organization by conducting...
Executive SummaryDescribe the Report for Positive & Normative Accounting Theory. The positive Accounting theory refers to the theories that help us to explain and predict the accounting practices that have been followed in by the accounting firms and companies. The positive accounting theories tend to consider the events that took place in the world and based on their interpretation, they convert the same into accounting practices. On...
Summary of the ArticleDiscuss about the Accounting Research Critique for Theory and Current Issue. The main topic of the selected article is to examine the positive approach in accounting research. This critique is aimed to review conducted research objectively and to determine the strengths and weaknesses systematically. In this research critique, the application of positive research in the accounting field is the major argument. This ...
Human Behavior and Scientific Research in AccountingDiscuss about the Accounting Theory for Ontology and Epistemology . The paper examines the ontology and epistemology of positive research and compared the same with positive accounting research to draw references and conclusions about the relationship between human behaviors and accounting settings in the society. The aim of the paper is to undertake a testing by the statistical and hy...
The Framework for Preparation and Presentation of Financial StatementsDescribe about the Financial Accounting for Financial Framework Assistant. 1. The Framework for Preparation and Presentation of Financial Statements assists the preparer in applying the Accounting Standards on preparation of financial statement. The Para 5, states that the different element of the financial statement is defined in the Framework. It also deals with the m...
Impacts of VW Emission ScandalDiscuss about the Accounting Theory for Scandal of Volkswagen. This report is made to cover the happening of emission scandal of Volkswagen which was disclosed by the US authorities in 2015. This incident created huge negative impact on the image and goodwill of the eminent automotive company of Germany. The incident is with the allegation of wrong engine installed in the diesel run automotives which causes g...
Metcash: Relevant Background InformationDescribe about the Advanced Auditing and Assurance for Legal Operations Environment. For the purpose of meeting to be conducted to plan the audit of Metcash group, the relevant information pertaining to the operations and legal environment has been gathered as under: It is essential for the auditor to have a thorough understanding of the operations and the environment in which the company ...
Identification of the various accounting issues facing AstralDiscuss about the Financial Accounting Reporting and Assurance. The accounting information of Astral Music can help the users of the information in arriving at superior and informed decision. The users of Astral’s accounting information include internal users (management, members of the staff and the owners) as well as the external users (creditors, tax authorities, fi...
Fundamental Principles of AccountingDescribe about the Financial Accounting for Practice of the Real World. 1. As the Accounting standard, the fundamental principle of the accounting states that the accounts should be based on the 3 principles i.e. Prudence Substance over form Materiality Wherein principle of prudence says that the provision should be made in the books of account for all possible known liabilities and losses even ...
Criteria’s which are taken under Consideration Before obtaining the Audit Appraisal and Applying them on the BSF LtdDiscuss about the Auditing & Assurance for Australian Company BSF Ltd. The Australian company BSF Ltd is performing a research analysis regarding the improvisation of the food products which are being produced for the fish. The forthcoming research provides entire information and details of the research a...
Increase in Inherent RiskDiscuss about the Auditing Theory and Financial Report Risk. Financial report assessment and risk management has been a key practice in the business division and in addition different territories managing a great deal of monetary evaluation. The capacity of an organization to evaluate its development depends completely on financial review performed inside the firm. The greater part of the operation in the moneta...
Factors That Contributed To an Increased Inherent Risk Assessment at The Financial Report LevelDiscuss about the Auditing Assurance Services and Techniques. When carrying out of an audit, the auditor generally classifies audit risk into three parts. These three errors include the inherent risk, detection risk, and the control risk. An inherent risk can be defined as the possibility of incorrect or misleading information in account...
The use of future estimates in financial statementsDiscuss about the Financial Accounting Principles and Analysis Performance. 1. ‘Although the statement of financial performance is a record of past achievement, the calculations required for certain expenses involve estimates of the future.’ What is meant by this statement? Can you think of examples where estimates of the future are used? In the words of Afonso and Sousa (201...
Describe about the Advanced Financial Accounting for Revaluation of Money. 1a. Date Particulars Amount Amount Revaluation of Machinery 07-01-15 Impairment Loss A/c Dr. 100,000 Accumulated Depreciation A/c. Dr. 100,000 To, Machinery A/c 200,000 ...
GFC ImpactDiscuss about the Auditing and Assurance for Global Financial Crisis. The given report aims to introduce the legal underpinnings of the potential liabilities of the auditors in wake of the losses caused to the user groups especially the shareholders of the company who tend to invest their money on the basis of the audited financial statements of various companies. This issue has taken centre stage in the wake of a host of busi...
Financial elements defined in IFRSDiscuss about the Measurement of Financial Elements as Per IFRS. In the present times, it is very important to have the rule set for doing the proper implementation of each and every work. This is important so as to ensure that the different companies are implementing the global concepts which may prove to be useful for the purpose of accounting. It is necessary for the different companies to comply wit...
CrowdFunding – Concept and RoleDiscuss about the Corporate Law for Crowdfunding. The technology development in the recent times has had a profound impact on a plethora of activities and fund raising by business is one of these. Internet is widely used as a mechanism by entrepreneurs to enhance their reach to people and thereby make a request for funding and hence work out an arrangement that is mutually beneficial. Such a...
Inherent Risk and Inherent Risk Assessment in AuditingDescribe about the Auditing and Assurance for Assessment Financial Level. In auditing, inherent risk denotes an error that occurs in financial statements and which does not occur as a result of failure of control but because of other factors .Inherent risks are mostly witnessed in complex transactions as well as those transactions which call for high levels of judgment. On the ot...
Global Financial CrisisDescribe about the Auditing and Assurance for Accounting Failure and Governance. The financial audit is the process of examining the financial statement according to the audit standard. The aim of this report is to develop an understanding about the auditor’s potential liability as a result of global financial crisis. The financial crisis started in the year 2008 in US and after that it had spread all over the...
Global Financial Crisis and causesDescribe about the Auditing and Assurance for Framework Enterprises. The Audit quality and auditors’ liability provide an important framework to the business enterprises for the effective implementation of the robust financial reporting and financial decision-making. An efficient and quality auditing provides the external checks on the reliability and integrity of the financial statements. The trans...
Listing and discussing several factors that contributes to increased inherent risk at financial report levelDiscuss about the Auditing and Assurance for Methodological Issues. In this particular question, it is required to identify inherent risk from the financial report of One Tel Phone Company. Misstated figures are mentioned in the financial reports and there occur some of the potential risks revealing financial as well as non-financ...
Evaluation of Accounting ConceptsDescribe about the Financial Accounting for Concepts of Accounting. The following study examines the various concepts of accounting and its relevance in Australian as well as the global market. Besides this, it assesses the issues in measurement of costs. For the purpose of this study, Caltex Australia has been selected. The brand supplies quality lubricant products that include engine oils, driveline flui...
Evaluation of Accounting ConceptsDiscuss about the Information Systems and Small Business. The following study examines the various concepts of accounting and its relevance in Australian as well as the global market. Besides this, it assesses the issues in measurement of costs. For the purpose of this study, Caltex Australia has been selected. The brand supplies quality lubricant products that include engine oils, driveline fluids as we...
Ethical StatementDescribe about the Management Accounting for Bakery Business. For the purpose of this article of management accounting, we will consider a company with its own area of operation confined to bakery industry. This company has started its operation since the early 80’s and had crossed a long time through its journey which had seen lots of ups and downs. The company had started its operation with the effort of two appre...
Audit reportsDescribe about the Auditing and Assurance for Depicting the Audit Opinion. The overall study mainly helps in depicting the audit opinion of relevant cases, which might help companies to understand the specified material and immaterial errors. In addition, the report also helps in depicting the opinion, which is mainly mentioned in ASA 700 and provide relevant audit opinions that could help companies in their audit process. Mo...
