... 2 Richard Caturano, A true leader. 1. Introduction A. My paper is about a leader in the accounting field, Richard Caturano. This project discusses why he is successful through being a great leader. Richard Caturano is an executive managing partner at McGladrey, LLP, in Boston. Richard is a founder of Caturano and Company. Richard is chairman of the AICPA. B. I want to demonstrate why he is a great leader and show how he has become successful through his leadership skills. C. Main Ideas 1. Founded a successful accounting firm. 2. Chairman of the AICPA. 3. Recognized as the most influential person in accounting by Accounting today. 2. Accounting is my major. A. I chose this field because I have always liked numbers. I believe that an accountant is important a company’s financial success and I want to be a part of helping company’s excel. B. I expect to graduate in January of 2016. 3. Richard Caturano is the subject of my project. A. He is successful and highly recognized across the accounting world. COLL/148: LEADERSHIP OUTLINE 3 B. Richard created one of the most successful accounting firms in the world. He has been a great inspiration for aspiring accountants. 4. Characteristics of an effective leader. A. A few characteristics are being...
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...Accounting is a common thread which unites even the smallest neighborhood business with an organization identified as a Fortune 500 company. Every company, regardless of size or mode of operation, needs to support this function. If accounting is so universal, then, how do companies involved in diverse industries with unique processes prepare their books in the same manner? Well, there exist a common set of standards for entities to follow, but there are also standards specific to organizations in certain industries. One particular sector which has its own considerations encompasses those organizations which operate within the oil and gas industry. With that said, one particular area worth discussing relates to how outlays are accounted for when they are incurred for the purpose of locating sites where oil and gas can be found and then transforming those resources into marketable products. “Companies involved in the exploration and development of crude oil and natural gas have the option of choosing between two accounting approaches: the ‘successful efforts’ (SE) method and the ‘full cost’ (FC) method.” (Investopedia) The main issue which these techniques address is whether or not such outflows can be capitalized or need be treated as expenses on the income statement. As the FASB Accounting Standards Codification only addresses the successful efforts method, it will receive the primary focus in this paper. The name “successful efforts” gives an indication as to how...
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...effective than others. Communication is one of the most important elements of a successful business. When writing a business communication it is crucial that you know who the members of your audience are and communicate with the visible purpose. Effective communication achieves its objective to persuade, respond or gain information by considering the style, format, purpose, organization and by tailoring the communication style to meet the audience requirements. Purpose Learning Team A was given five different accounting scenarios with limited amount of information on the JJJ Company, Riordan Mfg, Ad hoc Committee, CEO and the employees. Each team member was assigned a role from the accounting scenario and instructed to write and effective communiqué based on that roles. The communiqués could be n the form of a formal memo, email, power point, and text message. The types of communiqués were based on the information, i.e., formal, informal, long report, short report format, email, power point presentation, or memo, etc. Then each team member had to evaluate the business communication written by the other members and determine its effectiveness by using the following questions as a guide. 1) How well did the communication convey the intended message? 2) Would another type of communication have been more appropriate? Why? 3) Is the communication at the appropriate level for the intended audience? 4) How did the leadership styles in the scenario affect the communication within...
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...Importance of Cost Accounting? ACC310: Cost Accounting I (BBJ1220A) Instructor: Ashley Harper Melissa Little June 18, 2012 This paper seeks to explain the practices and principles of cost accounting and their overall effectiveness in assisting a company in minimizing costs where possible and optimizing the return on the costs that are necessary. Every year, no matter the overall state of the economy, businesses both old and new experience huge successes and huge failures. Every business has the potential and the intention to capitalize on profits and to become perpetually successful. What is the difference between the businesses that are able to do this and those that fail? What do successful businesses do to capitalize on and expand their profits? Many things contribute to successful business enterprises, but the bedrock principle of every successful business venture is honest accounting practices. Accounting is the information system which assesses an organization’s undertakings, computes the figures into reports, and imparts the outcome to an influencer. Accounting is a general, all-encompassing term that can mean many things to many people, so there are a few sub-categories that have been created to delineate specific areas or specialties within the accounting world itself. These are the areas of management accounting and cost accounting. Management accounting refers to the practice of gathering and analyzing accounting information in order...
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...ACCT 212 (FINANCIAL ACCOUNTING) COMPLETE COURSE A+ Graded Tutorial Available At: http://hwsoloutions.com/?product=financial-accounting-complete-course Visit Our website: http://hwsoloutions.com/ Product Description ACCT 212 (FINANCIAL ACCOUNTING) COMPLETE COURSE, ACCT 212 COURSE PROJECT 1 PART A WEEK 3 ACCT 212 COURSE PROJECT 1 PART B WEEK 5 Scenario: You’ve just secured a new client in your accounting practice, the Rawls Repair Corporation, (RRC) a brand new small business specializing in bicycle repair… ACCT 212 Course Project 2 Week 7 P13-50A Top manager of O’Hare Products, Inc., have asked for your help in comparing the company’s profit performance and financial position with the average… ACCT 212 Midterm Exam (TCO 1) The Accounting Equation is used to develop the organization’s financial reports. (1) Describe what owners’ equity values would be if Assets are $100,000 and Liabilities are $27,000 by showing the Accounting Equation (10 points) and (2) provide an explanation of what accounts could be found in owners’ equity. (10 points) (Points : 20) (TCO 1) The Accounting Equation is used to develop the organizations financial reports. (1) Describe what assets value would be if Liabilities are $12,000 and Owners’ Equity is $50,000 by showing the Accounting Equation (10 points) and (2) provide an example of two asset accounts that could contain the value. (10 points) (Points : 20) (TCO 1) The financial statements present a company to the public in financial...
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...ACC 564: Accounting Information Systems12 August 2012 | Abstract This paper explores accounting information system attacks and failures and the party that is to blame. The paper will include the following requirements: 1. My position on whether the firm and its management team should or should not be held liable for losses sustained in a successful attack made on their AIS by outside sources. I will include two (2) facts to support my position. 2. Suggestions for who should pay for the losses incurred, to whom, and why. 3. My opinion regarding the role, if any, the federal government should have deciding and enforcing remedies and punishment. I will include two (2) facts to support my opinion. 4. An evaluation on how AIS can contribute or not contribute to the losses. This assignment will use technology and information resources to research issues in accounting information systems. AIS Attacks and Failures: Who to Blame Take a position on whether a firm and its management team should or should not be held liable for losses sustained in a successful attack made on their AIS by outside sources. Include two (2) facts to support your position. Security controls are safety measures to avoid, counteract or minimize security risks. The firm and management team is responsible for effectively implementing preventative, detective, and corrective controls in order to prevent, identify, and limit the extent of damage from occurring, in progress, or caused by the incident...
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...Imagine being one of the individuals receiving the above statement in the form of a letter, stating you owe thousands of dollars, that you personally did not get the luxury of spending. How would you repay the newly collected debt? Who would you seek to help settle this? Perhaps you would go to the company that had their system breached? Companies should be held liable for losses sustained in a successful attack made on their accounting information system (AIS) by outside sources. Identity theft is defined as “the unauthorized use or attempted misuse of an existing credit card or other existing account, the misuse of personal information to open a new account or for another fraudulent purpose, or a combination of theses types of misuse”(statisticbrain). In 2013, identify theft has caused 11,571,900 $24,700,000,000 was the total financial loss attributed to identity theft in 2013 (statisticbrain). Hackers thrive on stealing an individual’s personal information and doing as they please, but what if it you information was stolen from a source you put complete faith in? Retailers store all of their customer’s information into a database known as an accounting information system (AIS). By definition, accounting in an information system, since an AIS collects, records, stores, and processes accounting and other data to produce information for decision makers (Romney & Steinbart). No one is suppose to have access to this unless authorized by the company, however, that is not always...
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...Careers in Accounting Accounting 100 Professor: Waters March 8, 2015 Lionel A. Dennis Accounting is the study of how businesses track their income and assets over time . Accounting can be divided into several fields, including financial accounting and Financial analyst. In this paper I will be discussing two career choices or path one could choose with an accounting degree, Financial accounting and Financial analyst. Financial Accounting Financial accounting is the field of accounting that is concerned with the summary, Analysis, and reporting of financial transaction pertaining to a business . Financial Accounting also involves the preparation of financial statements available for public Consumption . Objectives of financial accounting One of the main objective of financial accounting is to allow the public to be informed and have assess to the value of a company for themselves . According to the bureau of labor statistic, financial accountants work full time . in 2012, About 1 in 5 worked more than 40 hours per week. Longer hours are typical at certain Time of the year, specifically at the end of budget year or during tax season. According to the bureau of labor statistic, the median annual wage for accountants was $63,550 in 2012. Work environment Most financial...
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...to Convergence for the Indian Banking Industry'. The proposed convergence with IFRS is likely to create significant challenges. Most importantly, the initial and ongoing IFRS convergence will affect reported networth, available capital and capital adequacy for Indian banks. In view of the above, the release of this publication could not have been better timed. Through this publication, KPMG has provided a good perspective of some key areas which would impact the banking sector in India on their road to IFRS convergence. Further, the publication also brings out the specific challenges, particularly for the banking sector in India and the approach that the banks need to follow for successful implementation. Banks in India need to start thinking through the challenges and develop a roadmap for successful convergence at the earliest. I am hopeful that the publication will be able to ignite thoughts in today's bankers to be prepared for the IFRS reporting framework tomorrow. Dr K Ramakrishnan Chief Executive Indian Banks’ Association IFRS Convergence: Challenges and Implementation Approaches for Banks in India In line with the global trend, the Institute of Chartered Accountants of India (ICAI) has proposed a plan for convergence with International Financial Reporting Standards (IFRS) for certain defined entities - including banks - with effect from April 1, 2011. Convergence to IFRS would mean India would join a league of more than 100 countries, which have converged with...
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...“Discuss the contribution of Actor-Network Theory to our understanding of management accounting and control in organisations that have adopted ERPS technologies.” Over the past decade, management accounting has seen an extraordinary rise in technology driven innovations, whereby Hyvonen (2008) explains how this has contributed to the emergence of virtual organisations. The power of ICT plays a pivotal role in many organisations, through providing a basis for managing efficient operations and formulating corporate strategy. Moreover, Bhimani et al (2008) explains how ICT provides the opportunity to alleviate the problems associated with information flows in organisations with fragmented information systems. In practice, Hyvonen (2008) notes that the centralised control of large organisations requires ICT systems that make the periphery visible to the centre. The enterprise wide resource planning system (ERP System) is an example of an ICT system which coordinates all the resources, activities and corporate information of an organisation into one central database that collects data and feeds it into multiple applications that support all business activities of an organisation. Furthermore, it has been suggested that such systems facilitate unprecedented levels of organisational integration (Dechow and Mouritsen, 2005) and thus ERP systems have provided a new platform for organisations to thrive and develop a competitive advantage. Actor-Network Theory is a constructivist and...
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...2011 Over the years modern accounting systems have changed for the better and the worse as well. The topic I picked to write of is, how have modern account systems made a difference in modern organizations? Before taking this course I was unsure of how accounting was used in businesses or the way it was formatted. I learned so much from taking this course as how to analysis transactions and use these format correctly. I have made Excel spreadsheets in other courses and for my personal use but they do not compare the assignment in this course. I have learned how to successful create balance sheets, income statements, and so much more. Lastly, I have learned the correctly in order to create successful and understandable business financial statement. The smallest corner store or largest multimillion organizations created their own innovations on which they believe to be the best account perspectives. They were successful for a short time by applying new cost such as JIT systems to improving the cost systems. Their sociological perspective can be understood as a point of view that focuses not only on individuals in a company but on the whole group or society, unfortunately many flaws and late technology slowed their progress down. Many flaws that could have been improved with their value of modern management accounts systems. The main change has been the amount of money spent by organizations. In the past, companies big or small needed a dozen accounting clerks in order to prepare...
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...Danisha Williams ACC 537 Paper 1 October 29, 2011 Accounting is very important part of business aspect. This paper will discuss four different topics of accounting: generally accepted accounting practices, effective accounting information, the difference between accrual based accounting and cash basis accounting, and finally the different types of business structure and defining each structure. The topics above will provide accountants with the knowledge that is need in order to be successful. Topic 1 Accountants can use many different accounting principles but there are only a few that are accepted by law known as the generally accepted accounting practices. According to Wikipedia the generally accepted accounting practices are defined as“ accounting rules used to prepare, present and report financial statements for wide variety of entities, including publicly-traded and privately-held companies.” The principles are set by Financial Accounting Standard Board(FASB), Interpretations, and staff positions; APB Opinions and AICPA Accounting Research Bulletins. FASB standard, Interpretations and Staff position. The GAAP are guidelines that all accountants must follow when preparing financial statements for different organization and companies. Each Organization listed above creates the GAAP hierarchy each one is important to the accounting principles for the reason it identifies the sources on the way that financial statements should be prepared. Topic 2 In order to comply...
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... 2012 Jay Christensen Reporting Practices and Ethical Standards in Health Care Finance Healthcare managers engage in many important roles to create and sustain successful organizations. Managers must understand the crucial elements of financial management and the generally accepted accounting principles. They must also understand, adhere to, and enforce the general financial ethical standards. Four Elements of Financial Management Planning The first step in financial management is planning. It is the responsibility of the financial manager to first identify the goals of the company. Then it is the financial manager’s responsibility to decide on the appropriate steps that must be taken to accomplish the goals of the company. Controlling The second step in financial management is controlling. During this phase of financial management, it is the responsibility of the financial manager to ensure that each division of the organization is following the plans was decided. Managers should study current reports and compare them with earlier reports. This will help to decide what division of the organization needs the most attention. Organizing and directing The third step in financial management is organizing and directing. During organization, it is the responsibility of the financial manager to decide how to use the resources of the organization most effectively. The resources, such as funds or assets, help the manager to ensure the goals of the company are accomplished...
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...key elements for producing a successful business. I will be going over the structure that I have put into place for my company. I am going to discuss the roles that my accounting departments will play in order to build an effective and accurate management team. Let me give you some insight into this business. The name of my business will be called Jadechey. This business will be a corporation in which I believe will be the best choice because any personal liability will be limited and if the ownership of the corporation changes, the corporation will continue on. The name associated with this business will provide clothing, shoes, and accessories such as: hats, handbags, belts, and jewelry to service young ladies from birth into adulthood, in all shapes and sizes. Jadechey is derived from the combination of my daughters names, with whom can relate to my products. This store will be the largest ladies only retail store in the Chicago land area with low price items but in high quality specifically for those on a budget. Accounting will be the foundation of my business, helping to aid me in making better decisions that my business will come to face. Accounting takes on several roles: providing a clear picture of the financial condition of my business, budgeting, calculating tax liability, financial reporting, and financial auditing. Because this business is in retail, we will be dealing with cash and credit card transactions. Accuracy in accounting is extremely...
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...|[pic] |Course Design Guide | | |School of Business | | |ACC/561 Version 4 | | |Accounting | Copyright © 2011, 2009, 2008 by University of Phoenix. All rights reserved. Course Description This course applies accounting tools to make management decisions. Students learn to evaluate organizational performance from accounting information. Other topics include financial statements, cost behavior, cost allocation, budgets, and control systems. 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...
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