What responsibilities did David Duncan owe to Arthur Andersen? To Enron ‘s direction? To Enron ‘s shareholders? To the accounting profession? David Duncan owed Arthur Anderson the duty to make what a sensible employee would make in any state of affairs to include a responsibility to work with sensible attention and accomplishment. Not to interrupt concern, non to vie in concern against Arthur Anderson while […]

During this dire economic times, the emphasis on quality accounting and finance practice is greater than ever. These two areas have been my area of focus in my education and career goals. I am looking to take another step towards my aspirations by gaining more knowledge through enrolling in the MSc Accounting and Finance program. I believe I have what it takes to do well […]

Accounting has a history that is usually discussed in terms of one seminal event- the invention and dissemination of the double entry bookkeeping processes. Paul Garner and Atsuo Tsuji (1995) report that the first printed treatise of bookkeeping in the world is the Summa de Arithemetica, Geometria, Proportioni et Proportionalita written by Luca Pacioli. The treatise was published in Venice in 1494, and was reprinted […]

The aftermath of hurricane Katrina and September 11th 2001 attack was misinformation about financial positions of companies and individuals and misappropriation of funds meant for disaster recovery. Insurance companies were forced to pay some compensation based on financial statements which were prepared from insufficient records. After the two disasters accounting regulating body set out on how accounting should be recorded and reported in case of […]

Business Environment Accounting: The information system that measures business activities, processes the information Into reports, and communicates the results to decision makers. Two Major Fields of Accounting: 1 ) Financial Accounting: The field of accounting that focuses on providing information for external decision makers. 2) Managerial Accounting: The field of accounting that focuses on providing information for internal decision makers. Certified Public Accountants (Spas): Licensed […]

Outlines of Accounting Pronouncements As indicated previously, this manual consists of 14 modules designed to facilitate your study for the Financial Accounting and Reporting section of the Uniform CPA Examination. The table of contents at the right describes the content of each module. Module 9: Basic Theory and Financial Reporting A. Basic Concepts Key Terms Multiple-Choice Questions (1-83) Multiple-Choice Answers Simulations Simulation Solutions B. Error […]

Assignment 2: Creating, Financing, and Marketing a Business Shamika Ward Professor Roderick D. Thomas Introduction to Business December 2, 2012 Identify the pros and cons of the partnership as a form of ownership. Partnership is one of most common forms of business. There are many advantages to business partnership as well as a few disadvantages. One advantage is that a partnership is easy to establish. […]

The Asiatic crisis exploded in July 1997 and raised frights of planetary economic recession. It has exposed an unresolved job in the manner of fiscal globalisation that local accounting criterions used to fix fiscal statement did non run into international criterions. The authoritiess have realized the essentialness to better the supervising, ordinance and transparence of fiscal systems under the forces of fiscal globalisation.[ 1 ] […]

The article shall discuss about two news articles which has accounting effect in Australia and internationally. Both articles address the same issue of economic meltdown effect to accounting staff and how it shall affect the accounting duties across Australia and abroad. One of it highlights on how staffs have lost faith with their employers due to economic hardship which the companies are going through while […]

AIS – Final Study Chapter Highlights Chapter 1 – ACCOUNTING SYSTEM INSIGHTS 1. Enterprise system – A system that supports business activities throughout the enterprise, including inputs, processing, and outputs 2. Integrated enterprise system – Shares data across functional areas within the enterprise 3. Business processes – Related activities performed by an enterprise to create value by transforming input into output 4. Value chain – […]