administrative contemplations on financial choices, for example, group clamor and air quality. Southwest Airlines has moral (ethical) contemplations that should be tended to at whatever time financial choices are made. This paper additionally touches on the monetary hypotheses and models, including the Bertrand Model that Southwest Airlines ought to audit and consider for future accomplishment of the organization. Southwest Airlines must take after the Sustainability Accounting Standard for Airlines for all
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Kapitel 1 Normative (prescriptive) accounting theory Inte baserad på empiriska tester (som positive teorier är) utan de är baserade på vad researcher tror ska eller borde inträffa vid särskilda omständigheter. Teorier som föreskriver (prescribe) istället för förklarar (describe) särskilda handlingar kallas för normativa teorier eftersom att dom baseras på normer som researchern som lägger fram teorierna har. T.ex. säger hur vi ska ta till oss och använda redovisningsmetoder. Kapitel 2
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CHAPTER 2 CONCEPTUAL FRAMEWORK UNDERLYING FINANCIAL ACCOUNTING Show Me the Earnings! The growth of new-economy business on the Internet has led to the development of new measures of performance. When Priceline.com splashed onto the dot-com scene, it touted steady growth in a measure called “unique offers by users” to explain its heady stock price. To draw investors to its stock, Drugstore.com focused on the number of “unique customers” at its website. After all, new businesses call for new performance
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behaviors, eventually leading to the catastrophic fall of the company. However, in order for Enron to deceive as long as they did without being caught, a lot of their actions were actually legal, but immoral. Enron’s use of mark-to market (MTM) accounting and taking advantage of energy deregulation in California, led to their “profit at all costs” mentality, legal, moral, or otherwise. Jeff Skilling and top executives failed to make decisions from the standpoint of the longevity of the company.
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Objectives: * Recognize the information conveyed in each of the four basic financial statements and the way that it is used by different decision makers (investors, creditors, and managers) * Identify the role of generally accepted accounting principles (GAAP) in determining financial statement content and how companies ensure the accuracy of their financial statements. * Why do we need financial accounting and reporting? * Companies want to raise capital to fund their business
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conducts and practice) and ISA220 Quality Control for an Audit of Financial Statements, do you believe that the engagement leader of an audit (like David Duncan on the Enron audit) should have authority to overrule the opinions and recommendations of the accounting & auditing function? Why or why not? In our opinion, the engagement leader of an audit should not have the authority to overrule the opinions and recommendations of the accounting and auditing function. To support our judgment, we refer the
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Advanced External Auditing [AU2] Examination Blueprint 2013/2014 Purpose The Advanced External Auditing [AU2] examination has been constructed using an examination blueprint. The blueprint, also referred to as the test specifications, outlines the content areas covered on the examination and the weighting allotted to each content area. This document also lists the topics, the level of competence for each topic, and the related learning objectives and competencies. The learning objectives have been
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Titles could be Controller, Vice-President of Finance, or Chief Financial Officer. 1.3 The two major uses of managerial accounting information are (1) information for managerial decision making (for example, make-or-buy decisions, store closure decisions, capital investment decisions), and (2) information for managerial control and performance evaluation (for example, budgeting, comparing actual performance with norms or standards). The first use, which is the focus of Part II of this book, usually
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defined business ethics. Ethical standards have an important role not only in business decisions but also in a person’s everyday life. If a person is making unethical decisions others tend to not want to follow that person and the level of respect and trust are diminished, which can lead to a shift in employee organizational behavior. Even though there is not a published set of ethics to follow the Institute of Management Accountants (IMA) has a code of ethical principles that include honesty, fairness
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Australian School of Business Accounting ACCT1511 ACCOUNTING AND FINANCIAL MANAGEMENT 1B Course Outline Semester 2, 2013 Part A: Course-Specific Information Please consult Part B for key information on ASB policies (including those on plagiarism and special consideration), student responsibilities and student support services. Table of Contents 0 PA RT A : COURSE-SPECIFIC INFORMA TION 1 2 STA FF CONTA CT DETA ILS COURSE DETA ILS 2 2 3 3 3 3 3 4 7 7 7 9 9 9 12 5 6 7 COURSE RESOURCES
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