Category: Accountancy

Introduction Current assets are assets which are most liquid in the organization the assets which can be used up or be sold in the business cycle. Current assets are those assets which cannot be held in the organization for more than one year and they form the basis of working capital of the business. Current…

Introduction Business management is a systematic process of four combined activities such formulating strategies, communicating these strategies throughout the organization, developing and carrying out tactics to implement the strategies and developing and implementing controls to monitor the success of the strategy in terms of achieving strategic objectives of the organization. To do these activities smoothly…

If I were going to consider a career in accounting, I would choose the nonprofit sector. Nonprofits, especially big ones, need to hire professional accountants to manage their finances. It is a way to avoid fraudulent activities and keep track of cash flows. I am particularly interested in nonprofit accounting because I will have an…

Table of Contents Introduction Cost Accounting Principles and Techniques Budgetary Control and Functional Budget Budgetary Systems Conclusion Reference List Introduction Accounting standards are basic rules that must be followed while planning budgetary report that will be circulated to individuals, shareholders, and investors. Accounting standards incorporate essential rules and expectations, for example, the cost guideline, coordinating…

Table of Contents Stakeholder’s position Solution to the case IMA standards and Support References Stakeholder’s position United Thermostatic Controls is engaged in the manufacturing and marketing of residential and commercial thermostats. Appliance efficiency averages establish lower power levels for appliances and may forbid the sale of less effective models. More severe appliance efficiency standards would…

Table of Contents Introduction Asset Retirement Obligations Objectives of SFAS 143 Modus operendi of SFAS 143 Liability-based recognition and measurement of AROs Fair Values as the basis of measurement Effects on financial statements Conclusion References Introduction Asset retirement obligations imply liabilities to meet out the potential adverse effects on decommissioning and dismantling of long-lived assets…

Table of Contents Abstract Introduction Limitations of accounting processes Income measurement Connect using References Abstract Accounting and Finance is a very important function of any business either for profit-making or for non-profit making institutions. It provides an avenue where a business analyses its operations in terms of what they own, what comes, and what goes…

Introduction It is the devising and analysing business processes, making budgets, doing forecasting, introducing internal controls and monitoring the same and evaluating, synthesising and compiling information mainly to derive economic value. It is an accounting technique employed for the development, management and implementation of decision-making process of a business entity. Managerial accounting is to offer…

Introduction Determination of full costs and selling prices is one of the most important methods of costing in any enterprise that is aimed at improving on profitability as well as making decisions. Most of the organisations face challenges in trying to figure which method to use to both full cost and selling price. The greater…

Table of Contents Introduction Managing Working Capital Cost-Volume-Profit Analysis References Introduction Working capital is really important for any kind of business organization. It is known as life blood of any firm. Khan and Jain (2007) purports that an industry needs working capital to operate its organizational activities Cost-Volume-Profit Analysis is necessary to make industry stable…