Accounting Essays

A career in accounting is one of the most requested by university students (Stockwell, Carly). Accounting majors have the possibility of obtaining a preparation to work in areas related to finance and business. According to the United States Bureau of Labor Statistics, the need for accountants has increased in the …

“Standard costing” is a traditional cost accounting method and management tool in which “standard costs are employed to value the overall cost of a production”. A “ Standard cost” can be defined as a “predetermined/estimated future cost of performing an operation, producing a good or offering a service”. As explained …

Ralph Kern, controller of Bennett Body Company, received a memorandum from Paul Bennett, the company’s president, suggesting that Kern review a magazine article and comment on it at the next committee meeting. The article described the Conley Corporation’s cost accounting system. Bennett Body was a custom manufacturer of truck bodies. …

‘Rodney Street Clinic’ is a private clinic in which doctor’s see patients privately and for medical reports following injuries. Currently all fee notes for patients and solicitors are sent manually and are not registered on a computer system. Problems with the accounting methods are that the accounts are hand-written, so …

1. A major part of the club’s income is Membership fees. This is a fee paid by members. It is paid annually at R120 for juniors and R450 for adults. The Membership fees is a fixed amount so that along with additional income it covers the clubs expenses. There are …

Liquidity ratios • Liquidity ratios are used to determine a company’s ability to meet its short‐term debt obligations. • liquidity ratios are a good measure of whether a company will be able to comfortably continue as a going concern. • Any type of ratio analysis should be looked at within …

Any Kind Checks Cashed, Inc. was a holder in due course in its case v. Talcott. In this case and elderly gentleman John C. Talcott, who was defrauded the sum total of $15,700 in the form of two checks, $10,000 and $5,700 respectively. Both checks were issued to D. J. …

Parliamentary Taxation prompted rebellion in the colonies because England was deciding what taxes the colonies will pay to them, without talking to the colonies and knowing what the colonies made or how much they could afford. Restriction of civil liberties was a problem because England would not allow the colonies …

Current Assets Cash – A current asset account which includes currency, coins, checking accounts, and undeposited checks received from customers. The amounts must be unrestricted. (Restricted cash should be recorded in a different account.) Petty Cash Fund – A current asset account that represents an amount of cash for making …

What is Fraud? Fraud occurs when individuals purposely materially misstate facts with the intent of coercing someone to believe these misrepresentations. Upon believing the misrepresentation, individuals will act upon them and suffer a loss or damages. Fraud occurs in various forms: 1. Misappropriation of assets 2. Fraudulent financial reporting 3. …