Introduction LJB Company, a local distributor, is planning on going public in the future and has asked Lexary Accountants, Inc. to assist in this process by evaluating their system of internal control. The organization is committed to its customers and works to minimize waste by focusing all of its resources on producing the best possible value for customers, and being a lean organization, their investments are carefully considered and only made when it is clear that a long-term financial advantage
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Accounting Standards Boards Sandra Ferrara ACC541 June 18, 2012 Professor Sonja Wilson Accounting Standards Boards Accounting standards Accounting standards boards maintain and produce accounting standards to keep financial reporting accurate and useful. Financial reporting should provide a fair presentation of the financial position and financial activity of an entity and permit comparison among other entities. To obtain a true “apples to apples” comparison between entities the statements
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as applied software’s of accounting, excel and access. Also as it reduces book keeping and saving time, an accountants participation need to increase in the processes, planning, analyzing management. Therefore, it can stated that if the use of technology applied effective, it will be provide a better background for improving accounting profession and role-creating more suitable accountants in organizations. TABLE OF CONTENT INTRODUCTION
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Companies As LJB Company is considered to be a small organization, going from private owned to public traded will require extensive planning. During planning, LJB must consider the current system of internal controls and the cost versus benefit of becoming compliant with regulations such as the Sarbanes-Oxley Act of 2002 (SOX). Under SOX, all publically traded U.S. companies are required to maintain an adequate system of internal controls. Corporate executives and the boards of directors must ensure
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meet the changing requirements of the communities it serves. As a result, Chartered Accountants (CAs) are in greater demand than ever. CAs are engaged in all areas of professional accounting and enjoy rough equal public accountancy rights throughout Canada, helping individuals and businesses sort through the maze and plan strategies for a successful future. The financial information that professional accountants provide is the lifeblood of business and society. Because its impact is far reaching
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------------------------------------------------- Management accounting From Wikipedia, the free encyclopedia | This article contains wording that promotes the subject in a subjective manner without imparting real information.Please remove or replace such wording and instead of making proclamations about a subject's importance, use facts and attribution to demonstrate that importance. (February 2012) | Accounting | | * Historical cost accounting * Constant purchasing power accounting
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become a successful accountant and want to choose accounting field as my career path after graduation. In accounting field, a good knowledge in accounting, constant accuracy and working experience are important for a success. Traditionally, the accounting process involves record keeping recording, classifying, reporting, and interpreting economic events. While I was in high school, I focus on classes involving math and business. Few years ago, I was more than certain that becoming a business accounting
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The study revealed that noncompliance with accounting standards is responsible for the increasing spate of white collar crime in the Nigerian public sector and that absence of forensic accounting courses in the training programme of practicing accountants are responsible for inability of auditors to detect, early enough, white collar crime in the public sector thereby aggravating the scam. The study also revealed that flexibility of principle based on standard is a serious threat to enforcement of
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based decision making affecting its reports and suggestions; and an emphasis on relevance and timeliness in its decision making (2012)? The answer to this question is managerial accounting. According to J. W. Jones (2013), a retired managerial accountant, her job and other positions with the title are responsible for reporting financial information to the company’s administration and parties outside of her organization such as stockholders or creditors; however, her focus was the internal accounting
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EXTENSIBLE BUSINESS REPORTING LANGUAGE (XBRL) Submitted in Partial Fulfillment of Course Requirements in Accounting 8320 Spring 2009 Kesha Haley By submission of this paper I certify that this paper is entirely my own work. Further this paper has not been submitted for credit in another course. HALEY - 1 - EXTENSIBLE BUSINESS REPORTING LANGUAGE (XBRL) ABSTRACT The purpose of this paper is to define XBRL, explore the implications of XBRL on auditing, and discuss the advantages and disadvantages
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