Financial Accounting Essay Examples
The age and sex distribution of the population of Nigeria by the 1991 census is as shown in Table 1.3.2. The data Show a high proportion of children in the population. Those under 15 years of age constituted about 45 per cent of the total population. The proportion of aged persons (60 years and above)…
The differences between management accounting and financial accounting include:[1] 1. Management accounting provides information to people within an organization while financial accounting is mainly for those outside it, such as shareholders 2. Financial accounting is required by law while management accounting is not. Specific standards and formats may be required for statutory accounts such as…
Accounting can be best described as a type of tool or language put in place in order to provide appropriate information with regards to the financial position of an organization, corporate or business. With this kind of information, it will always be critical to investors as it provides them with relevant and thorough information that…
The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) are two of the most important bodies of the Accounting/Finance field today. Though both boards work together to develop and enforce financial reporting standards for publicly held organizations, the FASB concentrates on the accounting standards in the United States while the IASB…
Financial management is a very complex process across the business organizations. The increasing competition, complexity of business, rising expectations of investors etc can lure any organization to use unethical financial management tactics to make their books look better. But this can be extremely chaotic In future. Healthcare organizations are especially prone to such practices because…
a. What, if any, ethical issue is involved in this case? Legally the financial vice president is not obligated to move to the new standard; however, I do see an ethical issue with this decision. The ethical decision lies in the fact that the vice president is knowingly presenting financial statements that do not reflect…
The income statement, which portrays the financial performance of the company, is also described in the financial statements elements. Income and expenses from ordinary activities are recognized as the main elements of such statement, which when matched result in a profit or loss for the period. Capital maintenance adjustments are also pointed out, which may…
