Management accounting

and combat corporate and accounting fraud” (sec.gov/about/laws.shtml). “This Act requires that Chief Executive Officers (CEOs) and Chief Financial Officers (CFOs) in every annual report that they have reviewed the report and that it does not contain untrue statements or omissions of material facts, and are personally responsible for any misstatements”. HealthSouth…

also the trust businesses have placed in it over the years. In its 2010 version, Peachtree Accounting fully integrated analytical software into its features. With this feature, you will be able to compare your company's revenue, gross margins and sales with competitors, see how your company ranks within your industry and view financial trends that are relevant to your business practices. Peachtree Accounting allows you to open accounts for different companies under the same user name. In other…

Upon the completion of this course I have come across topics that have interested me and increased my knowledge especially in the financial and accounting aspect. This course has introduced me to understanding the relationship between financial and accounting in making an effective strategic decision. In as much they sound alike they are different and used in different purposes, both accounts are important to the business but are used for different purposes. Financial statements are requirement…

Internal control is a procedure, or policy, put in place by management to stop fraudulent behavior, increase efficiency, promote accountability, and safeguard assets. In other words, an internal control is to prevent employees from stealing assets or committing fraud. In fact, there has been an increasing importance placed on internal controls in every level of an organization. To my understanding, internal controls are a serial of control activities. They should include at least following…

Factors Influencing Decision According to Hilton and Platt (2014) many companies choose to relinquish traditional cost accounting perspective and practice a more active cost management angle (Hilton et al., 2014). When Amazon analyzes operating costs within each of their cost activities, it is much simpler to prognosticate the influence of all modifications to overall costs. The intricacies of ABC can…

Prior to Sarbanes Oxley Act, the Securities Act of 1933 was the leading controlling mechanism. The 1933 Act requires that investors obtain appropriate financial information on securities that were offered for public sale. It also bans dishonesty, misrepresentations, and some other fraud in the transaction of securities. The Security Exchange Commission imposes the 1933 Act mandating corporation to have the stock and securities registered that are offered to the public. The registration…

an ethical or unethical decision is not a serious issue for anyone. The problem with making such a decision is the effect it has on their lives and that of others. The unethical decision made by the management of Fannie Mae affected the management and a lot of people. The effect it had on the management was not as severe as that it had on the people. The risky business that Fannie Mae engaged in not only caused losses to the company and eventual takeover of the…

Cost Accounting Cost accounting refers to the internal financial system to track expenditures and costs within an organization. Such a system guide managers and decision-makers in their actions as they show the profit or loss of the organization within a specific period of time. Traditional accounting process considers only direct cost related to the product and skips many environmental and hidden costs. For example, if toxic materials are emitted during the development of a product, then it…

In elementary school, I struggled with the comprehension of the material in my classes. Although, this was a simpler time period in my school career I never excelled in any specific subject until middle school. I have always suffered through Writing and English courses, but began to transcend in math at age eleven. It was at this age where I began to rationally think about my career options in this field. At the time, and even today still, I was intrigued by fashion. Anything from the runways to…

Because of this there will be opportunities for New Zealand education institutes to offer courses either using partnerships with Thai institutions or through branch campuses established in Thailand. However foreign institutions must meet Thai accounting and auditing requirements. These requirements mean that companies must produces annual accounts. Secondly annual statutory returns must be approved by the annual general meetings of the shareholders within four months from the years end and filed…