Advantages Disadvantages of Soclialism
Socialism could be a social and financial set-up refers to common possession over the mean of production of state. it's believed that ...
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Max Clarkson Seven Principles of Stakeholder Management
Max Clarkson, a former faculty member with the University Of Toronto formed these kinds of rules about Stakeholder management. The next pri...
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Accounting entries for Operating Leases with case study example
The lease arrangement includes the owner-lessor concurs to rent an asset (machinery, products, land, or building) to the tenant-lessee for ...
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Recievable Management - Deciding timeline for collection of trade recievables
T o Ensure that company's outstanding receivables are current, company need to construct a timeline for certain receivables collecti...
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Accounting Entries for Sales Warranty
Warranty (Warranty). Warranty (warranty), also one of the strategic points in world trade, especially for "non-consumer goods"...
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Accounting Entries for Sales Returns and Allowances
Each sale is always accompanied by the possibility of returning items (return). And firms are now very aware that things like this can no...
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Accounting Entries for Discount Sales and Trade Discounts
This topic is a supplement to emphasize specific topic issues: Accounting Treatment for Discount, Sales Return & Warranty. They may...
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Accounting for Goodwill - Treatment of Goodwill Impairment
Accounting of Goodwill Impairment In the past, goodwill could only gain financial statement recognition within the limited situation of s...
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Financial Audits Versus Fraud Audit - How fraud investigation is not an audit.
The published Sarbanes Oxley incorporates concepts and procedures to deter and to catch fraud in audits of internal controls over fin...
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Budget, Budgetary Control and Responsibility Accounting - FAQs
1] Describe the thought of budgetary control. Budgetary control includes (a) preparing periodic finances reports that compare actua...
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Features of Procurement Card and Credit Cards for online Shoping and walmart shopping.
A really worth questioning on the use of procurement card probably is the possibility of getting mistreated by bad purchasers. As the...
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Taxation of Mergers & Acquisitions - Drafting Tax Plan for corporate Mergers
Technique for Mergers and Acquisitions A main factor to consider in corporate acquisitions will be the determination of what size taxable...
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Tax Planning Stages and objectives - How to do Better tax Planning.
For all Controllers who are intent about reducing their corporation’s tax trouble, there are five primary goals relating to their tax strat...
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Different Terms used for Goods in Transit and accounting for each Case
Inventory Ownership Issue - Goods InTransit Simply put; “goods with transit” are goods staying shipped from seller in order to buyer at y...
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Accounting for Right to Return Inventory and Issues involved in Treatment
Some related inventory accounting issue that requires special consideration is your situation that exists when the customer holds the right...
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Duties and responsibilities of Audit Committee in Risk Management
Roles within the Risk Management and Company Governance Areas Audit committees play substantial role in managing risk in the business. A...
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Audit Committee Responsibilities related to External Auditors
Roles Related to External Auditors’ Activities The audit committee is a valuable instrument for initiating direct hitting the ground wit...
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Roles of Audit Committee in Appointment and oversight of Internal Audit Function
The particular audit committee can improve the entity’s internal audit function by being sure that management has established and is also m...
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Audit Committee's Roles in Preparation of Financial Statements and Reporting
Roles in the Financial Reporting Area The particular financial process and ensuring reliable financial information is just about the mos...
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Major Roles and Responsibilities of Audit Committee
Many literatures have highlighted the actual roles and responsibilities associated with audit committee. Lin et al. (2008) for example, not...
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Hostory and Development of Audit committees
The actual description of audit committee presented around the above section is what it really is today. In past a long time, many audit c...
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Auditing - What is Audit Committee? Introduction and Constitution
Audit committee, in the actual corporate world, has been existed for number of years and the perception involving its roles and obligation...
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Lecture and notes on IFRS 4 Insurance Contracts
IFRS 4 is the initial Standard from the International Accounting Standards Board (IASB) on insurance contracts. The extent of advice in IF...
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Classification, types of Control Systems - personal–mechanical; and unitary–fragmented.
Control therefore can take quite a few forms and can be categorised in many different ways. Reeves and Woodward propose a new classificatio...
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INVESTMENT PROPERTY (IAS 40)
1. BACKGROUND AND INTRODUCTION This Standard prescribes criteria for the accounting treatment for, and disclosures relating to, invest...
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Financial Reporting Objectives and its users
The Financial Accounting Standards Board (FASB) emphasizes the needs of users when it defines the goals of financial reporting provided bel...
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Strategic and Tactical planning - Levels of Management
Strategic planning Top-level management, often with the assistance of key staff personnel, who plan on the long range basis (5 to“...
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Determining Cost of Sales under Periodic System
Periodic System of Inventory. The most direct means of determining the physical quantity of inventory on hand is to count it. An in...
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Cut-off Procedures for Inventory
What is Cut-off Procedure? The process to ensure that transactions are recorded in the proper accounting period is known as cutoff ...
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Physical Stock Count Procedures and Stock Verification
Stock take & Verification of Actual Stock as at year end. Written instructions that describe the procedures to be performed by th...
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Types of Inventory and Stock in trade
TYPES OF INVENTORY (a) RETAIL–WHOLESALE. Wholesalers and retailers typically acquire merchandise that is ready for resale to customers...
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Consolidation Method of Preparing Consolidated Financial Statements
Consolidation, translation, and the equity method are related sets of accounting practices used mainly in the preparation of consolidat...
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Determining Financial Leverage with Example
Financial Leverage Ratio Formula Financial leverage is computed as: Financial Leverage Ratio = Assets ...
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