...English Language Area De La Salle Lipa In Partial Fulfillment of the Requirements for COMSKI2 Term 2, School Year 2012-2013 by Pasia, Trishia A. Sumilong, Melissa Mei D. Abstract Many students take up Bachelor of Science in Accountancy in De La Salle Lipa. In this research paper, the being in demand of the course and the effect of having job opportunities after graduating in college in the career choice of the students, the difficult situations they face, how they deal with them and their expectations of their career were being studied. This was done with the use of qualitative method. The researchers interviewed twenty-two (22) Accountancy students about their perceptions on their course. They summarized and concluded their answers to obtain the needed results and they found out that career opportunities really matter in choosing a course because the Accountancy students considered their future in doing this. Though they faced challenges in taking their course, they did their utmost to overcome these and obtain their wanted profession. In addition, they expected to have a good job in the future through this career. This paper further concluded that the students were motivated to study harder and to perform better despite of the difficult situations because of the nice future that was waiting for them and because of their high expectations of their course. Bachelor of Science in Accountancy as an in Demand Course in De La Salle Lipa Bachelor of Science in Accountancy...
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... Professional Knowledge and Abilities Impact Career Success In this paper I will point out how an association to an organization can impact an Individual’s career. This essay will go as far as to explain my interest in a professional organization; it will also demonstrate how that organization can enhance one’s professional knowledge and abilities, and how the association to an organization can impact a career in the accounting field of business. In order to do this I must define accounting, its purpose and its four major types of accountants first. The American Institute of Public Accountants defines accounting as “The art of recording, classifying, and summarizing in a significant manner and in te rms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof (Wikipedia.org 2010)”. In other words, accounting is basically about keeping track of the money, and is what businesses use to monitor their income, expenses, and assets over a period of time. Accounting is crucial to the functioning of all organizations it plays the important role in maintaining and processing all relevant financial information that a company requires for its managing and reporting purposes. There are many sectors in accounting one can focus their career on. The four major Accountants are Public, Management, Government, and Internal Accountant. Public Accountants perform a large variety of accounting, auditing,...
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...CHAPTER ONE: INTRODUCTION 1.1 History of the organization Mantoz enterprise is a top notch branding company that was formed in 2004. It’s a company that focuses mainly on corporate clients and offers a one-stop-shop for branding solutions. 1.2 Functions or core activities of the company 1.3 Vision, mission statement and core values of the institution The vision of the company is “to become a one stop branding and printing solutions provider through the latest technologies available while being of service to mankind.” The company has gathered a lot of valuable experiences working with all sectors of business and non-business entities. There portfolio now stands at over 100 customers. They do branding business with a lot of passion and are always on the look out for new techniques and technologies so as to continually increase there quality hence enhancing the branding value of their clients. They have competent, innovative, dedicated and experienced team. They give competition a run for their money because they go all the way to please and deliver the best in branding. There team includes color experts, designers, concept and branding experts, research and development team, quality assurance, finance, marketing and sales, customer care and HR/Administration. VALUES These include quality, speed and customer satisfaction are their focus to make sure their clients get monies worth. At affordable prices, we are working with our clients to develop products suitable for...
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...CHAPTER 1: COST MANAGEMENT AND STRATEGY EXERCISES 1-24 Strategy; Real Estate Services (15 min) This exercise can be used to provide a good perspective for the students to see the role of cost management in solving business issues, and in placing the management accountant in more of a leadership role in the firm. It also provides an early motivation for the cost behavior issues to be discussed later in chapter 3 and chapter 8. The management accountant has a hunch that the company is about to take on a potentially damaging strategic initiative. This is a great opportunity to begin to play more of a strategic role in the company. The first step should be to obtain the relevant information about projected revenues and costs and do a careful analysis of the likely profitability of developing the new, smaller customers. Here’s how the case might be used in a class discussion. First, ask the class to identify the types of costs likely to be incurred by this company in providing its service. The answers are likely to include labor costs and materials for cleaning and maintenance, in addition to costs for maintaining the firm’s office. As these examples are given, put them on the chalkboard and collect 6 or 8 of them. Then, ask how each of these costs might differ between large and small customers. For example, the cost of cleaning labor and materials will likely be somewhat proportional to the square feet of space each customer occupies, so that cost projections...
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...CHAPTER 1 ACCOUNTING: INFORMATION FOR DECISION MAKING OVERVIEW OF BRIEF EXERCISES, EXERCISES AND CRITICAL THINKING CASES Brief Exercises B. Ex. 1.1 B. Ex. 1.2 B. Ex. 1.3 B. Ex. 1.4 B. Ex. 1.5 B. Ex. 1.6 B. Ex. 1.7 B. Ex. 1.8 B. Ex. 1.9 B. Ex. 1.10 Learning Objectives 1, 3, 5 2,5 3,4 5,6 1, 3, 5, 6 5, 6 2, 5, 6 7, 8 5, 7 1 Topic Users of accounting information Components of internal control Inexact or approximate measures Standards for the preparation of accounting information FASB conceptual framework PCAOB COSO Professional certifications in accounting AICPA code of professional conduct Personal benefits of accounting skills Skills Analysis Analysis Analysis, judgment Analysis Analysis Analysis, research Analysis, ethics Analysis Analysis, ethics Analysis Exercises 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16 Topic You as a user of accounting information Real World: Boeing Company, California Public Employees Retirement System, China Airlines Users of accounting information What is financial reporting? Generally accepted accounting principles Accounting organizations Investment return Accounting terminology Accounting organizations Financial and management accounting Management accounting information Accounting organizations Purpose of an audit Audits of financial statements Ethics and professional judgment Careers in accounting Home Depot, Inc. general information Learning Objectives Skills 1 Analysis, judgment 3, 4 Analysis, research ...
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...CHAPTER 1 ACCOUNTING: INFORMATION FOR DECISION MAKING OVERVIEW OF BRIEF EXERCISES, EXERCISES, AND CRITICAL THINKING CASES Brief Exercises B. Ex. 1.1 B. Ex. 1.2 B. Ex. 1.3 B. Ex. 1.4 B. Ex. 1.5 B. Ex. 1.6 B. Ex. 1.7 B. Ex. 1.8 B. Ex. 1.9 B. Ex. 1.10 Learning Objectives 1, 3, 5 2, 5 3, 4 5, 6 1, 3, 5, 6 5, 6 2, 5, 6 7, 8 5, 7 1 Topic Users of accounting information Components of internal control Inexact or approximate measures Standards for the preparation of accounting information FASB conceptual framework PCAOB COSO Professional certifications in accounting AICPA code of professional conduct Personal benefits of accounting skills Skills Analysis Analysis Analysis, judgment Analysis Analysis Analysis, research Analysis, ethics Analysis Analysis, ethics Analysis Exercises 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16 Topic You as a user of accounting information Real World: Boeing Company, California Public Employees Retirement System, China Airlines Users of accounting information What is financial reporting? Generally accepted accounting principles Accounting organizations Investment return Accounting terminology Accounting organizations Financial and management accounting Management accounting information Accounting organizations Purpose of an audit Audits of financial statements Ethics and professional judgment Careers in accounting Home Depot, Inc. general information Learning Objectives Skills 1 Analysis, judgment 3, 4 Analysis...
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...Week 7 Assignment 2 The Impact of the Convergence of IFRS and GAAP on Auditors Acc 576 Auditing and Business Concepts Abstract The convergence of IFRS and GAAP continues to present professional challenges for U.S. auditors, it also presents career opportunities for auditors who encompasses the idea of globalized change. The convergence of accounting standards is changing the attitudes of CPAs and CFOs as far as internal accounting is concerned and how the quality of the International Accounting Standards will affect it and the efforts made toward converging IFRS and the GAAP standards. Create an argument for or against the IFRS and GAAP convergence process versus a pure adoption of IFRS in the context of impact to the public accounting profession. With Business and finance globalization, almost a hundred countries have adopted IFRS. Approximately 120 nations and reporting jurisdictions permit or require IFRS for domestic listed companies, although approximately 90 countries have fully conformed with IFRS as announced by the IASB and include a statement acknowledging such conformity in audit reports. Motivations for convergence include the belief that it will result in increased comparability between financial statements, which will benefit a variety of stakeholders. One would need to weigh the benefits of a one time cost for transitioning fee, the ability to compare reports, and the benefit of using a single reporting standard for businesses. Assess the cost...
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...Control Standards 3. LBJ’s Successes 4. LBJ’s Opportunities For Improvement 5. Conclusion Introduction This is a report for the LBJ Company to better assist with the needs of internal control. Our findings are based off of what has been shared with us by the company president on how LBJ Company operates on a day to day basis. It does seem as if there is a form of some internal control although it may be ineffective. Internal control is defined by Washington State Administrative and Accounting Manual (SAAM, 2002) as “all the policies and procedures management uses to achieve safeguard assists, ensure reliability and integrity of financial information, ensure compliance, promote efficient and effective operations, and accomplish goals and objectives. In order for LBJ to continue their success and achieve the opportunity to become a public company there will be a need to improve current practices and strengthen the internal controls.” If LBJ does not implement a strict code for internal control than the ability to go public may not be a successful outcome and the lack of policy and procedures may hinder the company overtime. These findings were made based off of the observations and conversations of how the day to day business of LBJ Company operates. The scale of changes can be very small to some very drastic but we must remember it is for the greater good of the organization and the longevity of the careers of the LBJ Company and their associates. ...
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...Exercise: Career Opportunities for Accountants Two business sectors that I would chose to work for would be insurance and audit for the government and the second would be working in payroll. As bad as the government can be, I still would like to work there and for them, we all know it is great job security. Additionally with insurance and audit I believe that I would not get easily bored or slack off on the job as I might with other jobs for the simple idea that it’s never really the same. Every day I would get to review other businesses and the information and other types of data at the same time to make sure they are correct, it wouldn't be like looking at the same page every day when I go into work. For the second choice it would be payroll, it is repetitive and although I think that it would be exciting to some extent just simply knowing that the employees are counting on you and you only to get their pay checks right the first time is a lot of pressure for one person, I feel that this would be a great job for me especially since I like to be accurate with my work. I believe that working for the Securities and Exchange Commission would not only satisfy my personal ideals but also I would be able to achieve the accounting principles set forth by the (GAAP) effectively. I would be able to make sure the principles are being carried out efficiently and accurately through the data review. I would feel confident in that I can help and protect new and existing investors...
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...| |[pic] | | | | Fig 7: Typical simple organization chart. Many enterprises use a database warehousing approach for the creation of accounting information systems. This approach, coupled with user-friendly software, allows management and other designated employees access to information to create a variety of accounting reports, including required external financial reports. For example, detailed cost information about a production process is used by the production line supervisor to help control production costs. A process design engineer, when considering the best configuration of equipment and employees, uses the same information to reduce costs or to increase efficiency. Finally, production-related cost information appears in the external financial statements used by investors and creditors. OBJECTIVES OF MANAGEMENT ACCOUNTING INFORMATION |Each enterprise has implicit and explicit goals and objectives. Many enterprises have mission statement that describes their | | |goals. These goals can vary widely among enterprises ranging from nonprofit organizations, where goals are aimed at serving | | |specified constituents, to for profit organizations, where goals are directed toward maximizing the owners’ objectives. For | | |example, the American Cancer Society, a nonprofit organization, has the following mission: | | The American Cancer Society is the nationwide community-based voluntary health organization dedicated to eliminating cancer as a major health problem...
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...Table of Contents Self-Assessment3 Online Quiz5 Narrowing the Options6 CGA (Chartered General Account)6 Aerospace Engineer7 Your Career and You8 Which career Interests You the Most8 Transferable Skills8 Skills and Values9 Planning Secondary School Courses10 My High School Plan10 Your Post-Secondary Options11 Resume and Cover 12 Type chapter title (level 2)5 Type chapter title (level 3)6 Type chapter title (level 1)4 Type chapter title (level 2)5 Type chapter title (level 3)6 Self-Assessment My name is Jacob Joshy Kalarickal. I am a 15 year old boy who basically follows the pattern eat-sleep-ball-study–repeat. I know that sounded crazy, well I guess that speaks a little bit about my personality. I am the first born out of two children. Many first borns possess traits such as organization, intelligence, ambition, imagination, confidence, and most importantly responsibility. However I don’t possess most of these traits. Maybe that gives a little foreshadowing to my self-esteem, which I’ll admit isn’t quite at the top of the pack. However with the knowledge I’ve gained throughout the course I hope to change these qualities, along with other qualities that are preventing from going deep within me, and discovering more things about me. Through changing these qualities it will in turn benefit me in the future. I like to refer to myself as a student athlete, and in turn believe that education must come first in life as it is the keys to open...
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... or suitable to courts of judicature or to public discussions and debate”. Therefore, forensic accounting is generally defined as relating and applying financial facts to legal problems (Singleton and Singleton 12). Forensic accounting consists of a combination of the techniques that are used in accounting, auditing, and investigative work. The focus of this paper is on the concept of forensic auditing; however, forensic auditing cannot be fully understood without incorporating all of the facts about forensic accounting. Most situations that involve forensic auditing will deal with proposed fraudulent activities, but there are some cases that may deal with non-fraudulent activities, such as settlements of monetary disputes (“Student Accountant”). Throughout this paper, we will discuss, in detail, the profession of forensic auditing and forensic accounting in relation to fraudulent activities. What is Forensic Auditing? Forensic auditing and financial auditing are not related in any way; rather, they have their own distinct objectives that are set to achieve different goals. Forensic auditing can be defined as “the process of detecting, preventing, and correcting fraudulent activities” and focuses on establishing an environment that will help to encourage the detection and prevention of these fraudulent activities (Singleton and Singleton 14-15). Thus, forensic auditing focuses on the strength and effectiveness of a company’s internal...
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...1 THE CHANGING ROLE OF MANAGERIAL ACCOUNTING IN A DYNAMIC BUSINESS ENVIRONMENT Learning Objectives 1. Define managerial accounting and describe its role in the management process. 2. Explain four fundamental management processes that help organizations attain their goals. 3. List and describe five objectives of managerial accounting activity. 4. Explain the major differences between managerial and financial accounting. 5. Explain where managerial accountants are located in an organization, in terms of formal organization, deployment in cross-functional teams, and physical location. 6. Describe the roles of an organization's chief financial officer (CFO) or controller, treasurer, and internal auditor. 7. Briefly describe some of the major contemporary themes in managerial accounting. 8. Understand and explain the concepts of strategic cost management and the value chain. 9. Understand the ethical responsibilities of a managerial accountant. 10. Discuss the professional organizations, certification process, and ethical standards in the field of managerial accounting. Chapter Overview I. The Management Process in Organizations A. What is managerial accounting? B. Management activities 1. Decision making 2. Planning 3. Directing operational activities 4. Controlling II. How Managerial Accounting Adds Value to the Organization A. Provides information for...
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...continue working in the company, she might face legal liability in future. It is because she is the person who signs the commitment letter. (c) If she resigns immediately, it might affect her future career, other company will loss confident to hire her even banned. Besides that, she had signed some previous financial statement, if that found by the relevant parties, she is liable to face the legal responsibility. (d) Yes. She can refer to the MASB standard 9- Revenue, under the section 15 “sale of goods- revenue from the sale of goods should be recognized when the enterprise has transferred to the buyer the significant risks and rewards of ownership of the goods”. http://www.masb.org.my/images/stories/archive/PERS/!masb9.pdf In this case, the company recorded the revenue from sale transaction which did not occur, so she should remind the company. Question 2 Since she is the person who signs the commitment letter, she is liable to make sure the account is prepared as fair presentation and compliance. As a professional accountant she required to be professional competence, integrity, and objectivity. Presenting a free error and trustworthiness financial statement is considered as the primary responsibility of an accountant. According to the above requirements of an accountant, the caller...
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...CHAPTER 1 COVERAGE OF LEARNING OBJECTIVES FUNDAMENTAL ASSIGNMENT MATERIAL CRITICAL THINKING EXERCISES AND EXERCISES 30, 31 CASES, EXCEL, COLLAB., & INTERNET EXERCISES 52, 55 LEARNING OBJECTIVE LO1: Explain why accounting is essential for decision makers and managers. LO2: Describe the major users and uses of accounting information. LO3: Explain the role of budgets and performance reports in planning and control. LO4: Describe the cost-benefit and behavioral issues involved in designing an accounting system. LO5: Discuss the role accountants play in the company’s value chain functions. LO6: Identify current trends in management accounting. LO7: Explain why ethics and standards of ethical conduct are important to accountants. PROBLEMS A1, B1 28, 29, 33 39, 40, 42 55 A2, B2 32 45 53 41, 43 A1, B1 30, 31, 34, 35, 39, 42, 44, 46 36 54 A3, B3 37, 38 47, 48, 49 51, 52, 55 Copyright ©2014 Pearson Education, Inc., Publishing as Prentice Hall. 1 CHAPTER 1 Managerial Accounting, the Business Organization, and Professional Ethics 1-A1 (10-15 min.) Information is often useful for more than one function, so the following classifications for each activity are not definitive but serve as a starting point for discussion: 1. Scorekeeping. A depreciation schedule is used in preparing financial statements to report the results of activities. 2. Problem solving. Helps a manager assess the impact of a purchase decision. 3. Scorekeeping....
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