Accounting Essays

Introduction The government has proposed imposing windfall profit tax on bank that benefited form Trouble Assets Relief Program (TARP) funds, as a mitigating factor to respond to the recent economic crisis.  The recent economic crisis has been described as the worst since the Great depression. Since 2007, economic meltdown, which …

A staff auditor was listening to a conversation between two senior auditors regarding the audit risk model. Following are some statements made in that conversation regarding the audit risk model. Required Indicate whether you agree or disagree with each of the statements. Present the rationale for your answer. 1. Audit …

Huxley’s seminal novel, “The Brave New World” has had extensive influence in over seven decades of its existence. The several paradigms written about by Huxley are only now seeing some form of fructification. While many modern writers have been influenced by Huxley’s writings particularly the novel in question, Francis Fukuyama …

ABSTRACT; 2005, marked the full implementation of the “IFRS” in the United Kingdom, many organisation in the United Kingdom and around the world that were listed on the London stock exchange  for the first time, reported under the same set of accounting regulations. This extended to all other entities apart …

The role of ethics in accounting profession can hardly be overestimated. Ethical values serve as a background for existence and functioning of a civilized society. Without the necessary ethical background society and economy would collapse. Accounting profession is not excluded from the general rule, but should be even more emphasized …

Sunset Boards is a small company that manufactures and sells surfboards in Malibu. Tad Marks, the founder of the company, is in charge of the design and sale of the surfboards, but his background is in surfing, not business. As a result, the company’s financial records are not well maintained. …

1. Introduction Thirty years ago, most financial accounting was done manually, leading to a great deal of paperwork. Currently, most accounting information is recorded via computers and wide area networks (Journal of Accountancy, 1994a). Technology has certainly changed the face of accounting over the years. While it is unclear whether …

What is Up with Having Payroll Taxes? Taxation on payroll is affecting many people in their everyday lives. There are several reasons why taxation on payroll should not occur. These reasons include money going to welfare and funding government programs; which in this case, is taking away money from the …

Introduction             The old American doctrine “public good, public interest and public representation” is a far cry to the federal American tax system. Over the years, America have been significantly distinguished with varying tax laws and revenue policy trends as a result of change in governmental leadership, as Republicans and …

1. List accounting practices that were used to fabricate the numbers in the financial statements. The unrealistic sales targets and abusive management style created a pressure cooker that drove managers to cook the books or perish. And cook they did—booking shipments as sales, manipulating reserves and simply fabricating figures—to maintain …