Is the Difference in Accounting Treatment of Post-Retirement Benefits under IFRS Beneficial or Detrimental to the Financial Position of a Company Currently Reporting Under US GAAP? Megan N. Cook, CPA, CFE Accountancy 521 Professor Lawrence March 9, 2009 The first pension plan offered by an American employer was that of American Express in the year 1875. Amex’s plan did not resemble the plans that we see in today’s time; the first “modern” defined benefit plan was created in 1940 by the
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EXPLORING THE CHALLENGES OF STRATEGIC MANAGEMENT ACCOUNTING IN POST GLOBAL ECONOMIC CRISIS ERA IN NIGERIA: IMPLICATIONS FOR THE NIGERIAN PROFESSIONAL BY BENNETT B. BENNETT UNIZIK/ACC/Ph.D./2011387014F DEPARTMENT OF ACCOUNTANCY, FACULTY OF MANAGEMENT SCIENCES, NNAMDI AZIKIWE UNIVERSITY, AWKA SEPTEMBER, 2012 TABLE OF CONTENTS Certification Approval Declaration Acknowledgement List of Tables Abstract CHAPTER ONE INTRODUCTION 1.0 Background to Study 1.1 Statement of Research Problem 1.2 Objective
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an accountant who works in Huaraz’s finance department a list of contentious accounting issues facing the company. Required: Prepare a report to the CFO that addresses the contentious accounting issues. Provide support for your recommendations. (You should provide brief solutions to each of these issues. In coming up with a solution you should recognize that not every problem has a definite solution. Accounting decisions often require judgement and interpretation of facts. So before coming
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Performance Measurement: Indirect-Cost Variances and Resource- Capacity Management Cases 15-1 Berkshire Toy Company (Source: Dean Crawford and Eleanor G. Henry, “Budgeting and Performance Evaluation at the Berkshire Toy Company,” Issues in Accounting Education, 15 (2) (May 2000), pp. 283-309.) 15-2 The Mesa Corporation (Source: Robert Capettini, C. W. Chow, and J. E. Williamson, “Instructional case: the Proper Use of Feedback Information,” Issues in Accounting Education, 7 (1) (Spring 1992)
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MANAGERIAL ACCOUNTING Based on Management Accounting by Robert N. Anthony Nearly every business enterprise has an accounting system, that is, a means of collecting, summarizing, analyzing, and reporting, in monetary terms, information about the business. In studying these systems, it is useful to consider them as consisting of two parts that are labeled financial accounting and managerial accounting, although in practice the two are not neatly separated. Financial accounting has the primary
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| Measurement Principles in Financial Accounting | A case study on the problems with Fair Value Accounting | | Kurt Vonderheide | 12/8/2009 | Abstract | | The use of historical accounting provides simplified but verifiable information to users of accounting statements. One argument to historical values is that they do not provide true values. This had led to a push to use fair value accounting methods for financial statements. While fair values methods may more accurately
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cash flow within the business as well as predict the potential of a business and if they are capable of financial growth. Ratio analysis examines the probability of a company’s profit or a company’s loss. This paper will examine the benefits and limitations of ratio analysis, explain what factors impact the meaningfulness of such measures and what new practices or theories may be emerging regarding the application of ratio and financial statement. The paper concludes that ratio and financial statements
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capital resource limitations. Managers characterized their competitive advantage as cost leadership (production) and 222 K. LANGFIELD-SMITH product differentiation (based on technical expertise) within a specialized niche market. Rumenco was a small company that relied on a mix of formal and informal controls. The choice of formal controls reflected managers’ thinking about the existing strategy. Extensive budgetary controls and detailed cost reports supported the production cost focus, and
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McIver’s decision of whether to hire a national, regional, or local audit firm should be determined by various factors including quality, cost, familiarity with the industry, and familiarity with the region. Generally speaking, if McIver’s number one aspect of the audit was quality, they would choose a national firm. The downside of that would be the cost, which is generally higher. A local firm on the other hand, would likely be less expensive and also be familiar with the region McIver’s is located
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remaining wealth calculated by taking away the cost of capital from the economic profit also known as the operating profit. EVA seeks to show a company’s excess profit over the amount of earnings that the company needs to maintain its capital and whether there is any wealth created. The economic profit is usually adjusted for taxes on the basis of cash. EVA can be deduced as follows: EVA= Net Operating Profit after Taxes (NOPAT) – [Capital * Cost of Capital] The cost of capital refers to the yearly return
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