Accounting

Accounting Information For Business: Long Range Planning

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Question: Describe about the Accounting Information for Business: Long Range Planning? Answer: Introduction Kaplan and Norton (1996) introduced Balance Score Card as a performance measurement tool by the Managers (Kaplan and Norton, 2001). The strategy of every organization is to improve its performance in order to fulfill its objectives. The benefit of balance score card in New croft hospital trust has been studied (Kaplan and Nort...

Accounting And Business Research

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Question: Discuss the characteristics of accounting information and its usefulness for decision making purpose, Key challenges and benefits to select an appropriate method of accounting and Critical analysis of diverse interests of stakeholders? Answer: Introduction According to Fawcett (1997), conceptual framework has several uses. It can be used to develop the concepts of accounting to be laid down in the IFRS. The concept...

Accounting For Lease

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Questions: Owing to low liquidity, Lisa Ltd decides on 1 July 2015 to sell its land and buildings to Anderson Ltd. The carrying values of the land and buildings in the books of Lisa Ltd, at 1 July 2015, are: Buildings, at cost Accumulated depreciation The land and buildings are sold for $4334 700 (their fair value), with the amount being allocated equally as follows: Land $2167350 Buildings $2167350 ...

Pricing Of Information Products

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Question: Discuss about the Pricing of Information Products. Answer: Budgeted Income Statement for Aussie Medical Company using both the alternatives are shown below - Aussie Medical Company Budgeted Income Statement Particulars Casual Agents Full time Salesperson Sales 30,000,000 &...

Accounting Theory And Current Issues: Financial Accounting

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Question: Discuss about the Accounting Theory and Current Issues for Financial accounting. Answer: Introduction This study deals with accounting theory and current issues faced by KGC Ltd. Karrick Gold & Copper Ltd is an Australian mining firms listed in Australian Stock Exchange (Spiceland, Thomas and Herrmann 2011). It operates in large Open Cast Gold as well as Copper mine in Star Mountain Range in Papua New Guinea from...

Revisiting The Conceptual Framework

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Question: Describe about the conceptual framework. Answer: Reasons why Principle-based standards require a conceptual framework The main goal of the principal-based standards is basing their standards on principles that are appropriate and consistent globally. This means they look for principles that are applicable all over the world. This can be done basing on a conceptual framework. The conceptual framework will elimina...

Product Cost Systems

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Question: Describe about the Product Cost Systems. Answer: Abstract In any given organization, keeping complete records with regard to the value of their inventory is one of the major concerns. This is because keeping too much stock that is unprofitable or using inappropriate product cost measures may result into a company making losses. It is, therefore, necessary for a company to have an effective product cost system that wi...

Requirement Of Lease Capitalization

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Question: Discuss about the Requirement Of Lease Capitalization. Answer: It needs to be mentioned that there are certain theoretical basis for requiring lessees for the capitalization of long-term leases. The first theoretical basis is the transfer of ownership. According to the requirement of lease capitalization, it provides the lessee with the ownership of the asset at the end of the lease term. In most of the cases of in...

Efficiency Ratio Of Investers

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Question: Describe about the Report for Efficiency Ratio of Investers. Answer: 1.Rate of return on total assets = Net income/ Average total assets = 4362/ ( 29935 + 28045)/ 2 = 15.05 % Rate of return on ordinary shares = Net income/ Number of shares = 4362/7200 = 60.58 % Profit Margin = Net income/ Sales = 4362/ 55000 = 7.93 % Earnings per share = (Net Income – Dividend on preference share)/ Number of shares = (4362 –...

Understanding Financial Crisis

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Questions: 1. Explain why principles-based standards require a conceptual framework? 2. Why is it important that the IASB and FASB share a common conceptual framework? 3. It is suggested that several parties can benefit from a conceptual framework. Do you consider that a conceptual framework is more important for some parties than others? Explain your reasoning? 4. What is meant by a 'cross-cutting' issue? Suggest some possible examples of cr...

Accounting Theory: BP Oil Spill

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Question: Discuss about the Accounting Theory for BP Oil Spill. Answer: Introduction The BP oil spill resulted in the spillage of approximately 4.9 million crude oil barrels into the Gulf of Mexico that created massive havoc amongst various industries including tourism, fishing pricing of real estates, etc. This is the reason why the spill is also popularly called as the Deepwater Horizon. Besides, many other industries w...

With Possible Conjecture Of Epistemology And Ontology

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Question: Discuss With Possible Conjecture of Epistemology and Ontology ? Answer: Introduction The following assignment throws light upon the article “Half a Defence of Positive Accounting Research” by Paul V Dunmore. In this research article, the author gives his viewpoint towards possible merits and demerits of positive accounting theory in the context of modern era. In this article, the author also tal...

Acrux Limited

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Question: Describe about the "Acrux limited". Answer: Executive Summary The below analysis has been done with an intention to understand the financial statement structure and understand how the same has been used in the decision making process by the users. For the below analysis work AURUX Limited has been considered which is a publicly listed company traded in the Australian Stock exchange. Introduction Aurux limited is a ...

Advanced Accounting: Annual Reports Of JB HI-FI Limited

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Question: Discuss about the Report for Advanced Accounting of Annual Reports of JB HI-FI Limited. Answer: Introduction This assignment is based on the subject of Advanced Accounting. During this assignment, the annual reports of JB HI-FI Limited and Harvey Norman Holdings Limited are analyzed in order to identify the extent to which the companies have followed the AASB (Australian Accounting Standard Board) standards. At the same ti...

Corporate Finance : Utilisation Of Financial Statements

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Question: Discuss about the Report for Corporate Finance of Utilisation of Financial Statements. Answer: Introduction Australian Accounting Standard has developed many standards for proper presentation and utilisation of financial statements. Thus,” Presentation of Financial Statements” AASB 101 which represents the format in which accounts should be formed is applicable for the reporting period after 1st January 2009. T...

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