Category: Accountancy

Automation in Accounting for Future Workplaces Annotated bibliography Griffin, G. (2019). How artificial intelligence will impact accounting. ICAEW. Web. This reporting article from the respected publisher ICAEW extensively examines the issue of accounting automation and the consequences it will lead to. At the heart of the report is the recognition that Artificial Intelligence (AI) is…

Qantas Airways Limited: Contemporary Accounting Issues Qualitative Analyses Accounting Policy The ongoing COVID-19 pandemic has significantly impacted businesses, disrupting entities operations and financials. According to Grant Thornton (2020), some financial reporting areas can remarkably impact annual financial statements and determine the disclosures required. Even though some sectors might avoid severe damages or even benefit from…

Network Infrastructure Companys Accounting Fraud Table of Contents Introduction Theoretical Models External Influences and International Accounting Standards Conclusion References Introduction Even with modern approaches to doing business, theoretical models of ethics contribute to the success and prosperity of organizations. The accounting fraud case of Network Infrastructure Companys executives is an illustrative example of the violation…

Concepts of Ethics and the Accounting Profession Table of Contents Introduction Accounting Ethics and their Relevance Conclusion Reference List Introduction Every profession has its own set rules and code of ethics, which all practitioners in that specific field must follow. These principles, rules and regulation originate from the corporate world to direct practices and actions…

Historical Exchange Rates in Accounting Practices In accounting, many transactions are carried out, and one must be keen to ensure that the correct information has been obtained. The failure to balance the sheets will lead to wrong decisions, and this will affect the organization since there will be errors in calculations leading to the organization…

Generally Accepted Accounting Principles Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) are the two primary accounting frameworks with core peculiarities. GAAP, which is accepted in the United States, presents accountants with a rules-based framework that allows them to operate under a strict code of conduct, which leaves little room for interpretation.…

Accounting Transactions Effect on Financial Statements Financial statements reflect the financial impact of transactions and other events by combining them into large classes according to their economic characteristics. These large classes are called financial statement elements. Elements directly related to the measurement of financial statements in the balance sheet are assets, liabilities, and shareholders equity.…

Managerial Accounting in the COVID-19 Pandemic Any company or an organization with a dream of succeeding in the world of business should consider managerial accounting as a critical element of propelling its objectives. Managerial accounting is essential in the business operations because it helps in handling challenges and tasks to achieve the company goals and…

CareTech Holdings Accounting Finance Resources The principles of costing and business control that may be adopted in CareTech Holding PLC The costing scheme that CareTech has adopted is based on the IFRS standard. According to the Companies Act of 2006, under section 408, the company has to present a comprehensive income statement. Following the regulations,…

Sarbanes-Oxley Act in Accounting Table of Contents Introduction Main body Conclusion Reference List Introduction With a chain of scandals hitting the American corporate world, its image in the publics eye was greatly tainted. Accordingly, the government had to take a step that would restore the confidence and integrity and put corporate America back on track.…