A(n) ________ is a salaried accountant hired by a business to carry out its day-to-day financial activities. A. auditor C. public accountant B. advisor D. private accountant 37. The financial statement detailing a firm's assets, liabilities, and owners' equity is the ______. A. balance sheet C. statement of cash flow B. income statement D. manufacturing statement 38. At ________, all depositors are considered to be owners of the institution
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Reporting Practices and Ethics Paper Financial Management is important in all portions of health care financial planning. Numerous financial decisions are made on a day-to-day basis from all the accounting records and business dealings that occur. Chief financial officers make decisions according to the organization’s fiscal objectives or by using generally accepted accounting principles. Many sources have divided the elements or principles of financial management up into different 10 principles
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weaknesses of Malaysian corporate governance practice due to the Asian Financial Crisis in 1997. After 1998, the government of Malaysia decided to adopt the corporate reforms to enhance the quality of good corporate governance practice in the country. The main sources of the Corporate Governance reforms agenda in Malaysia other than Malaysian Code on Corporate governance are the Capital Market Master Plan (CMP) and also Financial Sector Master Plan (FSMP). This sources provides guidelines on the principles
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Financial Statements Wal-Mart is Fortune 500 Company with presence in Puerto Rico. Investopedia (2012) defined accounting ratio: compares two aspects of a financial statement, such as the relationship of current assets to current liabilities. The ratios can be used to evaluate the financial situation of a company and shows the company's strengths and weaknesses, also help to compare with other organizations. The following ratios for 2009 calculated for Walmart: quick and current liquidity ratio
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the perpetrator to realize a gain. A simple working definition of fraud is theft by deception. Legal Elements of Fraud Under common law, fraud includes four essential elements: 1. A material false statement 2. Knowledge that the statement was false when it was spoken 3. Reliance on the false statement by the victim 4. Damages resulting from the victim’s reliance on the false statement In the broadest sense, fraud can encompass any crime for gain that uses deception as its principal technique
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Financial Planning or Financial Plan is defined as, “a comprehensive evaluation of an investor’s current and future financial state by using currently known variables to predict future cash flows, asset values and withdraw plans” (Investopedia, 2015). Many companies and organizations cannot run without having the proper financial planning, by keeping records up to date, following the Generally Accepted Accounting Principles (GAAP) and general financial ethical standards as well as the four main
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globalization of capital markets and the growth of international capital flows have heightened the significance of cross-national comprehension of corporate financial reports as well as the associated audit reports. The accounting literature is replete with assessments of the harmonization efforts and the international differences in the financial accounting area (Nair and Frank, 1981; Evans and Taylor, 1982; McKinnon and Janell, 1984; Doupnick and Taylor, 1985; Nobes, 1987; Archer, et. al., 1989; and
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What you chose is correct. Part 2 of 5 - 20.0/ 30.0 Points Question 7 of 30 5.0/ 5.0 Points Communicating information to external decision makers is accomplished through ___ as part of the process of ___. A. Financial statements, bookkeeping  B. Financial statements, accounting C. Journal entries, bookkeeping D. Journal entries, accounting Answer Key: B Feedback: What you chose is correct. Question 8 of 30 5.0/ 5.0 Points Human judgment is important in which
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inconsistencies suggested that the auditors could have failed to become aware of the accounting irregularities in FCB’s records. The situation raised doubts with the auditors as to the possibility of fraud taking place during the course of the audit. STATEMENT OF LEARNING OBJECTIVES 1. Skills acquisition: • • • • • • Identifying indicators of
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Reporting Practices and Ethics Tiffany L. Richardson HCS 405 July 18, 2011 Todd Brown Reporting Practices and Ethics Financial Management is a fundamental part to successful healthcare financial planning. Financial decisions are a necessary part of the day to day operations of any type or sized health care facility. These decisions are made in accordance with the facilities fiscal objectives and accounting practices. It is important that the individuals making these decisions follow proper
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