The positivist approach and the critical approach are the two approaches of accounting research. This article explains the concepts of positivist approach and critical approach, and then explains some of the problems of these two approaches. This article discusses the inter-relationship between accounting research, accounting standards and accounting practice. Through the research findings, this article … Read More
It’s simply says that ethics are the attitude of individuals or groups in deciding the wrong and right decisions with ethical or polite behaviour. The term ”Business ethics” has a same meanings that I discussed in ethics introduction. On very basic terminology ”Business Ethics” defines as follows: ”Business ethics boils down to know the difference … Read More
IFAC the (international federation of accountants) is a non – governmental and a global organization for accountancy professional, formed in 1977 in Munich -Germany at the 11th world congress of accountants’. Currently there are 164member bodies in 125 countries and jurisdictions, representing over 2.5 million accountants. Source: Q FINANCE – The complex world of international … Read More
Direct costs, indirect costs and overhead: Direct costs: those cost that can be directly traced to producing specific goods or services. For example, the cost of leather in making bags can be attributed directly to the cost of manufacturing these products. Depreciation and administrative expenses, are more difficult to assign to specific products, and so … Read More
Financial accountants and independent auditors commonly face challenging technical and ethical dilemmas while carrying out their professional responsibilities. This case profiles an accounting and financial reporting fraud orchestrated by the chief financial officer (CFO) of a major public company and his subordinates. The CFO, who was a CPA, took extreme measures to conceal the fraud … Read More
This eassy mainly introduced the information about the International Accounting standards of Inventory(IAS 2). First, we introduced the background of the IAS 2; then we discussed the major requirements of the standards and the importance of these requirements; after that we critically evaluate the IAS 2. Background The IASs, International Accounting Standards, which issued with … Read More
The issue of corporate social responsibility has got a lot of attention in the business and political world since the early 1990’s and the major reason behind this was corporate scandals. Organizations had started to realize that the basis on which they were achieving economic growth was unsustainable and hence there was a need to … Read More
External Auditors check company’s accounts and report to the company based on the accounts. Basically, the concern is how external auditors conduct these duties effectively. Legislations, such as The Companies Act 1965, have made great efforts to ensure external auditors conduct their duties and obligations effectively. The Code of Corporate Governance in 2001 and the … Read More
This paper attempts to demonstrate the annual report of Sainsbury from its corporate governance aspects and evaluate the information provided in the annual report from 5 parts: the main corporate governance mechanisms, the ownership structure, the audit report, the audit committee, and the voluntary disclosures. 2.0 corporate governance mechanisms The chairman of the Board is … Read More
Introduction The main purpose of this report is to point out the main advantages that could be benefited from International accounting and the obstacles to the harmonization of this system. The history of accounting began 600 years ago when first accounting records were found; the system of bookkeeping pair was gradually introduced in the early … Read More
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