An Analysis of Instructional Case Focusing on Ethical...

THE NORTH FACE, INC.: An analysis of Instructional Case Focusing on Ethical Issues Involving Financial Accountants and Independent Auditors Questions 1. Should auditors insist that their clients accept all proposed audit adjustments, even those that have an â€Å"immaterial† effect on the given set of financial statements? Defend your answer. To confirm that materiality is a pervasive concept in auditing, simply refer to the index of the professional auditing standards and identify the large number of â€Å"materiality† entries—approximately fifty, if you are curious. In addition to being an important topic, materiality is easily among the most controversial†¦show more content†¦3. Identify the general principles or guidelines that dictate when companies are entitled to record revenue. How were these principles or guidelines violated by the $7.8 million barter transaction and the two consignment sales discussed in this case? 3. Statement of Financial Accounting Concepts No. 5, â€Å"Recognition and Measurement in Financial Statements of Business Enterprises,† established a two-part revenue recognition rule for accountants to follow in deciding when to record revenues. Before revenue is recognized (recorded) in an entity’s accounting records, it should be both realized and earned, according to the following excerpt from SFAC No. 5. Revenues and gains are realized when products (goods or services), merchandise, or other assets are exchanged for cash or claims to cash. . . . revenues are considered to have been earned when the entity has substantially accomplished what it must do to be entitled to the benefits represented by the revenues. The â€Å"Suggestions for Use† section identifies the specific accounting standards that apply most directly toShow MoreRelatedSection 5 Internal Control over Financial Reporting Essay23602 Words   |  95 Pagesinternal control Qver F inancial Reporting CASES INCLUDED iN THIS SECTiON 1. Simply Steam, Co. 155 Evaluation of Internal Control Environment 2. Easy Clean, Co. 155 Evaluation of Internal Control Environment 3. Red Bluff Inn Cafà © 165 Establishing Effective Internal Control in a Small Business 4. St. James Clothiers 169 Evaluation of Manual and IT-Based Sales Accounting System Risks 5. Collins Harp Enterprises 177 Recommending IT Systems DevelopmentRead MoreAudit Case23997 Words   |  96 Pagesinternal control over financial reporting c a S eS inc lu de d in t hiS Se ction 5 155 155 165 169 177 185 195 5.1 Simply Steam, Co. 5.2 Easy Clean, Co. . . . . . . . . . . . . . . . . . . . . . . . . . . . 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Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pagesvi BRIEF CONTENTS 4 The Organization System 16 Organizational Culture 511 17 Human Resource Policies and Practices 543 18 Organizational Change and Stress Management 577 Appendix A Research in Organizational Behavior Comprehensive Cases Indexes Glindex 637 663 616 623 Contents Preface xxii 1 1 Introduction What Is Organizational Behavior? 3 The Importance of Interpersonal Skills 4 What Managers Do 5 Management Functions 6 †¢ Management Roles 6 †¢ ManagementRead MoreManaging Information Technology (7th Edition)239873 Words   |  960 PagesCONTENTS: CASE STUDIES CASE STUDY 1 Midsouth Chamber of Commerce (A): The Role of the Operating Manager in Information Systems CASE STUDY I-1 IMT Custom Machine Company, Inc.: Selection of an Information Technology Platform CASE STUDY I-2 VoIP2.biz, Inc.: Deciding on the Next Steps for a VoIP Supplier CASE STUDY I-3 The VoIP Adoption at Butler University CASE STUDY I-4 Supporting Mobile Health Clinics: The Children’s Health Fund of New York City CASE STUDY I-5 Read MoreMarketing Mistakes and Successes175322 Words   |  702 Pages1-800-CALL WILEY (225-5945). 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HF5415.1.H37 2009 658.800973—dc22 2008040282 ISBN-13 978-0-470-16981-0 Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 PREFACE Welcome to the 30th anniversary of Marketing MistakesRead MoreDeveloping Management Skills404131 Words   |  1617 PagesAssessment 46 Emotional Intelligence Assessment 47 The Defining Issues Test 48 v Cognitive Style Indicator 52 Locus of Control Scale 52 Tolerance of Ambiguity Scale 54 Core Self-Evaluation Scale (CSES) 56 SKILL LEARNING 57 Key Dimensions of Self-Awareness 57 The Enigma of Self-Awareness 58 The Sensitive Line 58 Understanding and Appreciating Individual Differences Important Areas of Self-Awareness 61 Emotional Intelligence 62 Values 65 Ethical Decision Making and Values 72 Cognitive Style 74 AttitudesRead MoreProject Mgmt296381 Words   |  1186 PagesLeadership Chapter 2 Organization Strategy and Project Selection 1.4 Projects and programs (.2) 1.4.1 Managing the portfolio 1.4.3 Strategy and projects 2.3 Stakeholders and review boards 12.1 RFP’s and vendor selection (.3.4.5) 11.2.2.6 SWAT analysis 6.5.2.7 Schedule compression 9.4.2.5 Leadership skills G.1 Project leadership 10.1 Stakeholder management Chapter 11 Teams Chapter 3 Organization: Structure and Culture 2.4.1 Organization cultures [G.7] 2.4.2 Organization structure

Management Accounting The Process Of Producing Management

Management accounting is the process of producing management reports and accounts which provide accurate and timely information for the use of internal parties within an organisation, such as departmental managers or chief executive officers. The information collected and produced include financial aspects such as amount of cash in hand, capital, liabilities, recent sales revenues, cost of production and also non-financial aspects such as employee’s performances or efficiency of production. In this era of globalisation and increased competition, firms and companies are starting to look beyond management accounting to run a business, that is by forming strategies. Strategy can be defined by an idea to ‘produce long term plans for the†¦show more content†¦Management accountants could incorporate competitors’ information like market share and budgets in the reports to allow comparability. For example the firm can bid at a lower price or try to lower the cost s below that of its competitor which increases its competitive advantage. The usage of competitors’ information has been incorporated into the business world as large companies in New Zealand, United Kingdom and the United States ‘found a high use of competitive position monitoring, competitor performance appraisal based on published financial statements†¦Ã¢â‚¬â„¢(Guilding et al.’s survey, 2000) [5]. Besides, management accounting information could emphasise on two ways to have a strategic advantage, that is through differentiation, and being cost leaders. Differentiation means that having products which are unique, and standing out from what is produced by the competitors. To do this, managers focus on producing better quality products, so that the firm could ask for a higher price, increase demand and supply in the market, which eventually leads to higher profitability. However, they have to keep costs as low as possible which is done through quality-cost analysis. Firms have to emphasise on producing low costs productsShow MoreRelatedA Perspective Of Traditional Budgetary System1577 Words   |  7 Pagesbeen facing an increase of competitive in business context. However, there are still some exist potential risks to cover current business challenges to set as a business accounting model to increase business financial value as a whole, since traditional budgetary system has pu rely focused on accounting not on managerial accounting in a real business issues and problems. There is a need to broaden its boundaries and focus on the issues involved in planning, designing and processing systems of managingRead MoreThe Cost Management Information System Essay1229 Words   |  5 PagesDiscussion Questions 1) As stated in the book, the cost management information system is one of two major accounting information systems within an organization. This subsystem’s burden is to generate outputs for internal users using processes needed to satisfy management objectives. Instead of being obliged by an external source’s criteria, it is ruled by people within the company. It differs from management accounting in that management accounting is more focused on how financial and nonfinancial informationRead MoreBenefits of Activity-Based Budgeting1467 Words   |  6 Pages more and more companies start to use ABB in the budgeting process. Referring to ABB, companies do well in their budgeting period. This shows that ABB itself has many outstanding characters. In this article we will compare it with traditional budget method, so that it could give us a general survey about the characters and benefits ABB has. What is Activity-Based Budgeting (ABB) Definition of ABB Brimson says ABB is a managing process that based on the activity level, in order to get lasting improvementRead MoreRequest Winning Case Study1524 Words   |  7 Pageseffort could also be grasped to customers specific conditions moreover every request are concerning usually short span. Underneath this cost accounting, the various book could also be maintained for every explicit occupation alternately occupation request. Vocation request winning is Associate in nursing expense accounting framework that gathers producing prices autonomously for every vocation. It’s real for organizations that may secured current of a standout amongst a attention-grabbing item andRead MoreInternational Financial Reporting System ( Ifrs ) Rules And Practices927 Words   |  4 Pageswith other countries’ accounting systems, the IFRS attempts to organize one financial standard system for businesses to report their financial statements. This article examines the relationship between domest ic and global standards of accounting. The concept of developing a modern accounting standard in the Czech Republic, implies that most companies in that country are not willing to change their accounting standards. Throughout the history of the Czech Republic’s accounting standards, companiesRead MoreCase Study: Activity Based Costing1452 Words   |  6 PagesAt a recent management meeting at Coverdrive Ltd, the members of the senior management team discussed the introduction of a new product to the company’s range of high quality, hand made cricket bats. A major agenda item was pricing. The management accountant, since his appointment, had given much thought to pricing policy and one of his concerns was that of dealing with the recovery of overhead within a full cost pricing policy. The discussion centred around the traditional method currentlyRead MoreManagement Accounting : The Father Of Accounting1415 Words   |  6 PagesIntroduction Accounting has be defined in various ways however almost every definition will describe it as a process that identifies, measures, analysis, and report data. Management accounting has not been the same since business started; it has come a long way from early member of civilisation using stone tablets for bookkeeping. Management accounting is used to aid managers make business decisions based on predicted figures and comparisons with actual figures. To follow is a detailed evaluationRead MoreAccounting Information System and Managers Decision Making921 Words   |  4 PagesThe function of the information system is to collect, store and process data into information, through the assistance of a set of interrelated components. The processed information is later distributed to support decision making in an organisation (Oz, 2006). Information system can be decomposed to two main elemental subsystems namely as Accounting Information System (AIS) and Management Information System (MIS). AIS mainly process financial transactions of an organisation. However, it also processesRead More Cost Accounting: Its role and ethical considerations Essay1054 Words   |  5 PagesCost Accounting: Its role and ethical considerations Introduction: Accounting is the process of identifying, measuring, and communicating economic information about an entity for the purpose of making decisions and informed judgements. The major areas of within the accounting are: Financial Accounting, Managerial Accounting/Cost Accounting and Auditing- Public Accounting Managerial accounting is concerned with the use of economic and financial information to plan and control the activitiesRead MoreManagement Accounting : Planning And Performance Management Systems1625 Words   |  7 PagesManagement accounting is described as â€Å"a profession that involves partnering in management decision making, devising planning and performance management systems, and providing expertise in financial reporting and control to assist management in the formulation and implementation of an organisations strategy† (Blocher, et al., 2009). Many Changes in the business environment have occurred in recent years which have caused substantial adjustments in cost management practices leading to a contemporary

Kennedy’s New Frontier Program Free Essays

In November 1960, majority of the American population voted John F. Kennedy into presidency. Opposite to the tactics used by his opponent We will write a custom essay sample on Kennedy’s New Frontier Program or any similar topic only for you Order Now com/richard-nixon-and-supreme-court/"Richard Nixon who emphasized his experience during the Eisenhower administration, Kennedy called to incorporate new tactics to leadership and new ways to effectively use their country’s rich economic and human resources (â€Å"An Outline of American History† 12-20). In Kennedy’s inauguration speech, he spoke of a â€Å"New Frontier. In general, Kennedy’s government through the programs incorporated with the New Frontier was dedicated towards creating ways to boost their economy, to strengthen their national defense and to extend international aid towards their allies. In this light, his administration passed several bills and policies that sought to improve their economic status, while giving a close look at the country’s housing status, wage level and unemployment level, provision of social services and improving the defense system and battling to decrease the crime rate. However, his desire to extend the fruits of economic success with the American citizens was thwarted by the mere fact that he won the presidency in such a narrow margin. His opponents from the Conservative Party and southerners resisted the plans that he carried out for his administration. Further, although one of his strongest priorities is to end economic recession and in turn restore economic growth, price increase in the steel indusry has lost him support from business leaders in the country. Moreover, in the area of civil and social rights, Kennedy fell short from providing the citizens with adequate and quality healthcare, education, international aid and space program (â€Å"Kennedy and the New Frontier†). However, despite these shortcomings, hindrances and deficits, he was able to bring judgment with the Cuban Missile Crisis which during that era was one of the most pressing international issues. This earned him a great popularity not only among the Americans, but for people from other countries as well. As such, towards the end of his term, he further initiated some measures that are thought to become beneficial for their country. Unfortunately though, on November 1963, he was assassinated. Despite his death, the liberal reputation he gained through his style and ideas continued. The agendas that he intended to implement before his death continued to become a liberal force of change for the Americans. How to cite Kennedy’s New Frontier Program, Papers