...the institute of cost accountants of india(ICAI) (A Statutory body under an act of parliament) SYLLABUS 2012 STRUCTURE & contents Evaluation Synthesis ANALYSIS ANALYSIS APPLICATION APPLICATION COMPREHENSION COMPREHENSION COMPREHENSION KNOWLEDGE KNOWLEDGE KNOWLEDGE LEVEL A LEVEL B LEVEL C FOUNDATION COURSE - Syllabus 2012 the institute of cost accountants of india(ICAI) (A Statutory body under an act of parliament) SYLLABUS 2012 STRUCTURE & contents The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 FOUNDATION COURSE - Syllabus 2012 The Following table lists the learning objectives and the verbs that appear in the syllabus learning aims and examination question. Learning objectives Level A COMPREHENSION What you are expected to understand List Make a list of. State Express, fully or clearly , the details/ facts of. Define Give the exact meaning of. Communicate the key features of. Distinguish Highlight the differences between. Explain Make clear or intangible/state the meaning or purpose of. Identify Recognise, establish or select after consideration. Illustrate What you are expected to know Definition Describe KNOWLEDGE Verbs used Use an example to describe or explain something. The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) ...
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...Relevance Concept: Information should be relevant to the decision making needs of the user. Information is relevant if it helps users of the financial statements in predicting future trends of the business (Predictive Value) or confirming or correcting any past predictions they have made (Confirmatory Value). Same piece of information which assists users in confirming their past predictions may also be helpful in forming future forecasts. Reliability Concept: Information is reliable if a user can depend upon it to be materially accurate and if it faithfully represents the information that it purports to present. Significant misstatements or omissions in financial statements reduce the reliability of information contained in them. Matching Concept: Matching Principle requires that expenses incurred by an organization must be charged to the income statement in the accounting period in which the revenue, to which those expenses relate, is earned. Prior to the application of the matching principle, expenses were charged to the income statement in the accounting period in which they were paid irrespective of whether they relate to the revenue earned during that period. This resulted in non recognition of expenses incurred but not paid for during an accounting period (i.e. accrued expenses) and the charge to income statement of expenses paid in respect of future periods (i.e. prepaid expenses). Application of matching principle results in the deferral of prepaid expenses...
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...____________ COURSE CODE: BKAS2013 COURSE NAME: ACCOUNTING INFORMATION SYSTEMS PREREQUISITE: BKAS1013 IT IN ACCOUNTING AND BKAF1023 INTRODUCTION TO FINANCIAL ACCOUNTING __________________________________________________________________________ 1. SYNOPSIS This course introduces students to the important concepts of Accounting Information Systems (AIS). The course contents are divided into three main sections. The first section introduces the basic concepts of AIS including its objectives, components, and subsystems. The concept of E-business as an emerging trend of conducting business in the new era of information technology (IT) is also covered in this section. The second section discusses in depth the common features of transaction processing systems such as revenue and accounts receivable, purchase and accounts payable, manufacturing and inventory, human resource as well as general ledger and reporting system. Integration of selected accounting software will also take place at this stage to enable students apply the AIS concepts into practice. This section also introduces students to the techniques of documenting accounting systems and database modeling tools. The final section discusses the emerging issues in computer crimes, computer ethics and concept of internal controls in organization. Application of internal controls concept into transaction cycles is later discussed. 2. COURSE...
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...Horngren's Accounting, 10e (Nobles/Mattison/Matsumura) Chapter 18 Introduction to Managerial Accounting Learning Objective 18-1 1) Managerial accounting focuses on providing information for internal planning and control. Answer: TRUE Diff: 1 LO: 18-1 AACSB: Concept AICPA Functional: Reporting 2) Financial accounting prepares reports for internal purposes, whereas managerial accounting provides information to external stakeholders. Answer: FALSE Diff: 1 LO: 18-1 AACSB: Concept AICPA Functional: Reporting 3) The IMA standards of ethical practice require managerial accountants to maintain their professional competence. Answer: TRUE Diff: 1 LO: 18-1 AACSB: Ethical Understanding AICPA Functional: Reporting 4) The accountant for Myra Lido deliberately deferred cash payments for business expenses in order to record a higher operating cash flow for the company. As long as the amount was not material, this would not be considered unethical behavior. Answer: FALSE Diff: 1 LO: 18-1 AACSB: Ethical Understanding AICPA Functional: Reporting 5) Financial statements prepared for investors and creditors often include forward-looking information because they make decisions based on a company's future prospects. Answer: FALSE Diff: 1 LO: 18-1 AACSB: Concept AICPA Functional: Reporting 6) Management accounting reporting by a public firm is required to follow the rules of GAAP and guidelines of the Securities Exchange Commission...
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...1a. From the concepts you have learned in this course, provide a real-world application of something that you think has been the most valuable to you? a.The concept of interest on a car payment. 1b. Why has it been valuable? a. Having made bought various cars over the years and having had various types of car loans and payments, I never understood the impact that interest had on my car payments. Learning about the quadratic equation and its application to interest and payment finally cleared this up for me 2a. How do you think you will use the information you learned in this course in the future? a. My dream job is to work in pharmaceutical sales. Therefore I need to take accounting courses. I will use the critical thinking skills I developed in this course to help me in future courses. b. I will also use the principles learned in this course in my future accounting courses. Especially as it applies to finance and interest 2b. Which concepts will be most important to you? a. The quadratic equation and its application in finance and accounting 2c. Explain why. Which do you anticipate will be the least important? a. As discussed above, my future position will be in sales. As such, all concepts related to finance, accounting, interest, etc., are of interest to me. The quadratic equation and its application in these domains will be the most important b. The least important will be graphing, log functions and functions, domains and ranges. 2d....
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...Contents Contents 1 Abstract 2 Introduction to Accounting 2 CSL Ltd 2 Accounting Concepts and Conventions 2 Realization Concept 3 Going Concern Principle 3 Historical Cost Principle 3 Materiality 4 Dual Aspect Concept 4 Business Entity Concept 5 Consistency and Comparability 5 Conclusion on Accounting Concepts 6 Reference 6 Abstract Nowadays, Accounting is much more important for people from inside or outside company to make financial decisions. Financial information can be of great help in analyzing a company’s past performance and its current financial position and provide some insight into its future prospects. This assignment focuses on the discussion of basic accounting concepts. CSL Ltd is selected as an example...
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...| Course Design Guide School of Business ACC/542 Version 3 Accounting Information Systems | Copyright © 2012, 2009, 2007 by University of Phoenix. All rights reserved. Course Description In this course, students examine the fundamentals of accounting systems design. Topics include business information systems, business processes and data flows, database concepts and tools, internal control and risks, auditing the information system, and using the information system to perform audit functions. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies: You must be logged into the student website to view this document. Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Bagranoff, N. A., Simkin, M. G., & Strand Norman, C. (2008). Core concepts of accounting information systems (10th ed.). New York, NY: Wiley. Hunton, J. E., Bryant, S. M., & Bagranoff, N. A. (2004). Core concepts of information technology auditing. Hoboken, NJ: Wiley. O’Brien, J. A. & Marakas, G. M. (2008). Management information...
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...accountants work for individual clients and businesses to provide professional accounting services such as auditing financial statements and resolving tax issues. Accountants can provide advice on business matters such as the advantages of healthcare plans and compensation packages for employees. Public accountants in Texas must qualify for certification by meeting education and experience requirements and must pass the Texas Uniform CPA Exam. Therefore, the following paragraphs are discussion about the requirements sit for the Texas Uniform CPA Exam, the requirements to become a CPA in Texas, the topics the Texas Uniform CPA Exam covers, the testing windows for the Texas Uniform CPA Exam, and any other courses and issues that candidates have. To become a CPA in Texas, a candidate must be of good, moral character. In addition, a candidate must take and pass the Texas Uniform CPA Exam. Moreover, there are requirements to sit for the Texas Uniform CPA Exam. First, a candidate must hold a baccalaureate or higher degree from a board-recognized United States college or university, or an equivalent degree as determined by board rule from an institution of higher education in another country. For satisfying this requirement, a student must complete150 semester hours or quarter-hour equivalents of college credit.30 out of the 150 semester hours or quarter-hour equivalents described must be upper-level accounting courses from a board-recognized college or university, of which 15 semester...
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...PRINCIPLES OF ACCOUNTING Higher 2 (2016) (Syllabus 9755) CONTENTS Page INTRODUCTION 2 AIMS 2 ASSESSMENT OBJECTIVES 2 SPECIFICATION GRID 2 SCHEME OF ASSESSMENT 3 SYLLABUS OUTLINE 3 SYLLABUS CONTENT 5 SUMMARY OF COMMONLY USED RATIOS 15 RESOURCES 16 Singapore Examinations and Assessment Board MOE & UCLES 2014 1 9755 H2 PRINCIPLES OF ACCOUNTING (2016) INTRODUCTION Principles of Accounting aims to provide candidates with a foundation course in accounting at a breadth and depth appropriate to the A Level. It is designed to provide candidates with a sound understanding of financial and managerial accounting procedures and an appreciation of its role in society. The teaching approach emphasises the broad educational aspects of the subject rather than one which is vocational or professional in nature. There is no requirement to learn the published accounting standards. Prior knowledge is not necessary for students offering this syllabus. It is not the intent of this syllabus to be a pre-requisite for any business-related courses. AIMS 1. Develop an understanding of the concepts, principles and practices of accounting and the ability to apply them in a variety of business and personal situations; 2. Develop an understanding of the role of accounting as an information system for monitoring, problemsolving and decision-making in changing economic, social and technological environments; 3. Develop a critical approach to analysing and evaluating accounting policies...
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...critical review of the trade-offs between the concepts of relevance and reliability in financial reporting Theme: Financial Accounting Classification: M41 Author: Prof D Coetsee Affiliation: Department of Accountancy, University of Johannesburg, South Africa Contact address: Department of Accountancy R-Ring 607 University of Johannesburg PO Box 524 Auckland Park Johannesburg South-Africa 2006 Telephone: +27-11-559-3047 Fax: +27-11-559-2777 E-Mail dcoetsee@uj.ac.za A critical review of the trade-offs between the concepts of relevance and reliability in financial reporting |Abstract | |In an information orientated system of financial reporting the move from historical cost to fair value | |accounting has created numerous debates surrounding the trade-offs of the concepts of relevance and | |reliability. This article contributes to the debate by critically reviewing the current developments of | |these trade-offs to determine whether current financial reporting guidelines are appropriate to deal with | |the difficulties and uncertainties of financial reporting. The article found that the proposals of the joint| |framework discussion paper goes a long way in resolving the issues around the trade-offs of relevance and | |reliability. Changing the concept of reliability to faithful representation will...
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...Accounting for Decision Making BAAM5013 (2014/1) INDIVIDUAL ASSIGNMENT GROUP MEMBERS THURGA CHANARAN MC1309MC0003 MOGANALETCHUMY CHELLIAH MC1401MC0003 MOHAMED FATHI A ABOULHOUL MC1401MC0013 Assigned By: Prof. Mohd Khir Ashari QUESTION 1 (a) Accounting Theory is variously described as setting out ‘postulates’, “principles” and concepts’. Is there difference between these terms, or is this just a matter of semantics? Accounting is generally termed as the language of business throughout the world. The language is the means of communication of ideas or feelings by the use of conventionalised signs, gestures, marks and articulated vocal sound. In the same way, the accounting language saves as a means to communicate matters relating to various aspects of business operations. As the individual business enterprises keep their accounting records separately, the offer to communicate is essentially from a business enterprise to various individuals, groups and institutions that are having interest in the operations and results of that enterprise. Now, although accounting is generally recognised with the business, trade and profession, the business enterprise is not the only kind of organisation that makes use of accounting. Legal entities ranging from individual to governments use and prepare accounting to obtain information on the financial condition and performance of the entity in question. Just as the business enterprises (like firms, companies, societies and institutions...
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...and Absorption costing: the concept of marginal and absorption costing and its practical applications on business decisions. Cost Volume Profit Analysis: Relationship, impact on pricing, practical decision making strategies through CVP analysis Standard Costing and Variance analysis: concept and objectives of standard costing, advantages and limitations, variance analysis (Material, labour, overheads and sales variance), practical applications Budgeting and budgetary control mechanism Activity based costing, Responsibility Accounting Target costing Objective Objective of this course is to help student understand: 1. The essence of management accounting-effective use of the accounting information for planning, control and business decision making. 2. To use cost accounting as a managerial tool for business strategy and implementation. 3. To understand analyse the costing tools and their business application for enhancing revenue and profitability of a firm,. 4. To analyse various aspects of costing such as, marginal costing, absorption costing, allocation of costs, standard costing and variance analysis, activity based costing, target costing etc. 5. To understand the process of decision making, planning and budgeting in a business organisation. Pedagogy Lectures Discussions on case studies Term Projects and presentations Discussion and presentation on published research papers on related topics. Text book: Management Accounting: Paresh Shah, OXFORD UNIVERSITY...
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...Paper 1: Accounting (100 marks) Paper 2: Law, Ethics and Communication Part I: Law (60 marks) Business Laws (30 marks) Company Law (30 marks) Part II: Business Ethics (20 marks) Part III: Business Communication (20 marks) Paper 3: Cost Accounting and Financial Management Part I: Cost Accounting (50 marks) Part II: Financial Management (50 marks) Paper 4: Taxation Part I: Income-tax (50 marks) Part II: Service Tax (25 marks) and VAT (25 marks) Group II Paper 5: Advanced Accounting (100 marks) Paper 6: Auditing and Assurance (100 marks) Paper 7: Information Technology and Strategic Management Section A: Information Technology (50 marks) Section B: Strategic Management (50 marks) The level of knowledge expected of students in the above subjects is ‘working knowledge’. INTEGRATED PROFESSIONAL COMPETENCE COURSE (IPCC) Syllabus GROUP I OF IPCC/ ACCOUNTING TECHNICIAN COURSE (ATC) Paper 1: Accounting (One paper – three hours – 100 marks) Level of Knowledge: Working Knowledge Objectives: (a) (b) (c) (d) To lay a foundation for the preparation and presentation of financial statements; To gain working knowledge of the principles and procedures of accounting and their application to different practical situations; To gain the ability to solve simple problems and cases relating to sole proprietorship, partnership and companies; and To familiarize students with the fundamentals of computerized system of accounting. Contents 1. 2. A General Knowledge of the framing of the accounting standards...
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...Technological University Syllabus for New MBA Program effective from Academic Year 2011-12 MBA I Semester I Accounting for Managers (AFM) 1. Course Objective: The objective of the course is to acquaint the students with the language of Accounting and to develop in them the ability to evaluate and use accounting data as an aid to decision making. The main purpose is to assist the students in developing skills in problem solving and decision making in the financial area. Emphasis is laid on analysis and utilization of financial and accounting data for planning and control. 2. Course Duration: The course duration is of 36 sessions of 75 minutes each i.e. 45 hours. 3. Course Contents: Module No: Module Content No. of Sessions 70 Marks (External Evaluation) 17 I II Fundamentals of Accounting Basic understanding of accounting, Accounting Concepts, Conceptual framework of financial statements, Accounting Policies, Journal Entries and preparation of accounts - Trial Balance to Balance sheet and profit and loss Account, Recognition of Income and Expenses, Provisions, Contingent Liabilities Accounting Standards and Applicability: Disclosure of Accounting Policies (AS-1), Valuation of Inventories (AS-2), Depreciation Accounting (AS-6), Income Recognition & Accrual Income (AS-9), Accounting of Fixed Assets (AS-10), Accounting for Intangible Assets (AS-26), Accounting for Investments (AS-13), 7 7 17 III IV V Preparing and Understanding Financial Statements : Corporate...
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... |Accounting Information Systems I | Copyright © 2009, 2007, 2005, 2004, 2003, 2001 by University of Phoenix. All rights reserved. Course Description This course is designed to provide accounting students with the proper mix of technical information and real-world applications. Areas of study include fundamental concepts and technologies (what computers can do for business), the Internet, intranets, electronic commerce, information systems development, basic project management principles, decision support systems, and the benefits of computer and human synergy. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Bagranoff, N. A., Simkin, M. G., & Strand, C. S. (2008). Core concepts of accounting information...
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