Acct Account Paper

7/26/2019 Acct Account Paper

1/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500!

Prepared by Pruthviraj Vaghela

FINANCIAL ACCOUNTING (ACC 500

!ub"itted t# Pr#$% &iu 'ha#

!ubjet) ACC500 Pr#jet Paper


2/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500"

Table of Contents

*% +#, ,#uld the u-e #$ $ull value a#u.ti.g be.e$it i.ve-t#r- i. $i.a.ial -tate"e.t-/##################$

% 1e-ribe a#u.ti.g ethi- i. regard t# dei-i#. "a2i.g######################################################%

3% The hi-t#ry #$ a#u.ti.g a.d it- r#le i. bu-i.e--#############################################################!0

4% A.alye the urre.t i--ue- a$$eti.g "a.age"e.t a#u.ti.g##############################################!5

5% 6hat are the 2ey re-p#.-ibilitie- #$ Certi$ied Publi A#u.ta.t-/########################################!&

7% 6hat are the be.e$it- #$ a#u.ti.g i. bu-i.e--e-/###########################################################"0

8% +#, a. -trategi a#u.ti.g $ailitate better $i.a.ial dei-i#.9"a2i.g/###############################"$

:e$ere.e-################################################################################################################### "'


3/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500$

*% +#, ,#uld the u-e #$ $ull value a#u.ti.g be.e$it i.ve-t#r- i. $i.a.ial -tate"e.t-/

Full value i- a re;uired "ea-ure $#r "a.y $i.a.ial i.-tru"e.t-% 1eter"i.i.g ,hether a $i.a.ial

i.-tru"e.t -h#uld be re#rded at $ull value i. a #"pa.y i. the a-e #$ a br#2er9dealer> a high pere.tage #$ it- a--et- typially are traded a.d

"u-t there$#re be a#u.ted $#r at $ull value% Other i.-tituti#.- re#rd $i.a.ial i.-tru"e.t- at

$ull value depe.di.g #. ,hat their i.te.t i- $#r h#ldi.g the i.-tru"e.t #r the .ature #$ the

bu-i.e-- ativity% I$ a. i.-tituti#. deided t# h#ld a U%!% Trea-ury b#.d t# "aturity> $#r e=a"ple>

the b#.d a. be -h#,. at it- #rigi.al #-t% I$ the i.-tituti#. purha-e- a.#ther ide.tial Trea-ury

b#.d that it i.te.d- t# -ell i. the .ear $uture> that b#.d ,#uld be a#u.ted $#r at $ull value

(!tephe.> 00?%

I. additi#. t# u-i.g $ull value "ea-ure- t# #"ply ,ith publi rep#rti.g re;uire"e.t->

#"pa.ie- "ea-ure their $i.a.ial i.-tru"e.t- at $ull value $#r a .u"ber #$ i.ter.al pr#e--e->

i.ludi.g) "a2i.g i.ve-ti.g a.d tradi.g dei-i#.-> "a.agi.g a.d "ea-uri.g ri-2-> deter"i.i.g

h#, "uh apital t# dev#te t# vari#u- li.e- #$ bu-i.e--> a.d alulati.g #"pe.-ati#.% The u-e

#$ $ull value "ea-ure"e.t- i- dee"ed t# be releva.t i. the-e area-%

@e.e$it

Full value pr#vide- i"p#rta.t i.$#r"ati#. ab#ut $i.a.ial a--et- a.d liabilitie- a- #"pared t#

value- ba-ed #.ly #. their hi-t#rial #-t (#rigi.al prie paid #r reeived% !i.e $ull value

re$let- urre.t "ar2et #.diti#.-> it pr#vide- #"parability #$ the value #$ $i.a.ial i.-tru"e.t-

b#ught at di$$ere.t ti"e-% I. additi#.> $i.a.ial di-l#-ure- that u-e $ull value pr#vide i.ve-t#r-


4/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500

,ith i.-ight i.t# prevaili.g "ar2et value-> $urther helpi.g t# e.-ure the u-e$ul.e-- #$ $i.a.ial

rep#rt-% (The @#.d ar2et A--#iati#.> 00

Aurate Valuati#.

A pri"ary adva.tage #$ $ull value a#u.ti.g i- that it pr#vide- aurate a--et a.d liability

valuati#. #. a. #.g#i.g ba-i- t# u-er- #$ a #"pa.y 00?%

True I.#"e

Full value a#u.ti.g li"it- a #"pa.y t# u-e

gai.- #r l#--e- $r#" the -ale- t# i.rea-e #r derea-e .et i.#"e a- rep#rted at it- de-ired ti"e%

U-i.g $ull value a#u.ti.g> gai.- #r l#--e- $r#" a.y prie ha.ge $#r a. a--et #r liability are

rep#rted i. the peri#d i. ,hih they #ur% 6hile a. i.rea-e i. a--et value #r a derea-e i.

liability value add- t# .et i.#"e> a derea-e i. a--et value #r a. i.rea-e i. liability value

redue- .et i.#"e%

ar2et B$$et-

The u-e #$ $ull value a#u.ti.g "ay $urther a$$et a d#,. "ar2et adver-ely% F#r e=a"ple> a$ter

a. a--et ha- bee. revalued d#,.,ard beau-e #$ dr#p- i. the urre.t "ar2et tradi.g prie-> the

l#,er value #$ the a--et #uld trigger greater -elli.g #$ the a--et at a p#te.tially eve. "#re

depre--ed prie% 6ith#ut valuati#. "ar2d#,. a- re;uired by $ull value a#u.ti.g> #"pa.ie-


5/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC5005

"ay .#t $eel the .eed t# -ell a. a--et i. a d#,. "ar2et t# preve.t p#te.tially $urther d#,.,ard

valuati#. #$ the a--et% Ab-e.t additi#.al -elli.g pre--ure-> the "ar2et "ay -tabilie #ver ti"e>

,hih ,#uld help pre-erve the value #$ the a--et (!tephe.> 00?%


6/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500%

% 1e-ribe a#u.ti.g ethi- i. regard t# dei-i#. "a2i.g

A#u.ti.g i- the pr#e-- #$ de-ribi.g bu-i.e-- pr#e--e- i. .u"ber-% F#r a #"pa.y-

a#u.ti.g t# truly repre-e.t ,hat i- g#i.g #. i. it- $i.a.ial are.a> it- b##22eepi.g .u"ber-

"u-t be h#.e-t a.d aurate% +#.e-ty a.d auray i. a#u.ti.g are ethial a- ,ell a- $i.a.ial

i--ue-% @##22eeper- a.d a#u.ta.t- have a re-p#.-ibility t# repre-e.t i.$#r"ati#. i. ,ay- that

ge.ui.ely repre-e.t ,hat i- g#i.g #. i. the bu-i.e--% Failure t# d# -# a. have #.-e;ue.e- $#r

bu-i.e-- #,.er-> -ta2eh#lder- a.d ta= rep#rti.g age.ie-% (Garte.-tei.> .%d%

Bthi- are "ea-ured i. $#ll#,i.g ba-i-)

A#u.tability) @u-i.e--e- are a#u.table t# a ra.ge #$ -hareh#lder-> $r#" part.er-> t#

i.ve-t#r-> t# u-t#"er-% !hareh#lder-> part.er- a.d i.ve-t#r- de-erve t# 2.#, the truth ab#ut

y#ur #"pa.y- $i.a.e- beau-e thi- i.$#r"ati#. i- ritial t# -#u.d i.ve-t"e.t dei-i#.-%

Cu-t#"er-> a- ,ell> "ay be e.titled t# 2.#, ,hether y#ur #"pa.y i- $i.a.ially healthy i$ they

e.ter i.t# tra.-ati#.- that depe.d #. it- l#.gevity% F#r e=a"ple> a u-t#"er ta2i.g #ut a

"#rtgage ha- a -ta2e i. ,#r2i.g ,ith a ba.2 that i- $i.a.ially -table a.d a u-t#"er re.ti.g a

-t#rage u.it ha- a -ta2e i. the -t#rage #"pa.y- #.g#i.g -#lve.y% (Bthi- i. a#u.ti.g> .%d%D

Garte.-tei.> .%d%

Pla..i.g) A#u.ta.t- a.d b##22eeper- have a re-p#.-ibility t# pr#vide the bu-i.e-- #,.er-

,h# e"pl#y the" ,ith aurate i.$#r"ati#. that $ailitate- -#u.d pla..i.g% Thi- #bligati#.

i.v#lve- pr#vidi.g aurate i.$#r"ati#.> a.d pr#vidi.g it i. a ti"e $ra"e that i- pr#"pt e.#ugh

t# be releva.t% I$ y#ur b##22eeper ta2e- hi- ti"e #"pili.g pr#$it a.d l#-- -tate"e.t- that #uld

tell y#u that y#ur bu-i.e-- i- -pe.di.g t## "uh #. payr#ll> y#u "ay "i-- a. #pp#rtu.ity t#

i"pr#ve the -ituati#. be$#re it put- y#ur bu-i.e-- i. je#pardy%


7/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500)

Ta=e-) C#"pa.y ha- a legal #bligati#. t# rep#rt $i.a.ial i.$#r"ati#. $airly a.d aurately #.

ta= $#r"-% Pr#vidi.g i.aurate i.$#r"ati#. t# ta= age.ie- "ay l#,er y#ur ta= burde.> but y#u

,ill be -ubjet t# $i.e- a.d perjury harge- i$ y#u are aught% Bthial a#u.ti.g pratie- e.-ure

that y#ur ta= $#r"- ,ill be #"pleted i. a ,ay that 2eep- y#ur #.-ie.e lear a.d 2eep- y#u

#ut #$ tr#uble% (Bthi- i. a#u.ti.g> .%d%

Bthi- i. a#u.ti.g Ide.ti$y a.d alulate the -h#rt ter" a.d l#.g ter" #-t- a.d be.e$it- (pai.

a.d happi.e-- $#r eah alter.ative #ur-e #$ ati#. a.d !elet the #ur-e #$ ati#. that yield-

greate-t -u" #$ be.e$it- #ver #-t- $#r the greate-t .u"ber #$ pe#ple%

Thu-> ethial #.dut by a#u.ta.t- ba-ed #. thi- the#ry lead- t# #.-iderati#. #$ all p#--ible

#.-e;ue.e- #$ a dei-i#. $#r all partie- a$$eted by it% Thi- the#ry ta2e- a prag"ati a.d

#""#. -e.-e appr#ah t# ethi-% Ati#.- are right t# the e=te.t that they be.e$it pe#ple (i%e%

ati#.-> ,hih pr#due "#re be.e$it tha. har" are right a.d th#-e that d# .#t are ,r#.g%

(Garte.-tei.> .%d%

The #g.itive pr#e-- re;uired $#r utilitaria. dei-i#. "a2i.g appear- -i"ilar t# the #-t9be.e$it

a.aly-i- that i- .#r"ally applied i. bu-i.e-- dei-i#.-% +#,ever> there are i"p#rta.t di-ti.ti#.-

bet,ee. the t,# #.ept- i. relati#. t# the .ature #$ #.-e;ue.e-> the "ea-urability #$ the

#.-e;ue.e- a.d -ta2eh#lder a.aly-i-% (Bthi- i. a#u.ti.g> .%d%

The the#ry #$ right- the the#ry #$ right- -te"- $r#" the belie$ that pe#ple have a. i.here.t ,#rth

a- hu"a. bei.g- that "u-t be re-peted% There$#re> a#rdi.g t# thi- the#ry> a g##d dei-i#. i-

#.e that re-pet- the right- #$ #ther-% C#.ver-ely> a dei-i#. i- ,r#.g t# the e=te.t that it vi#late-

a.#ther per-#.E- right-%

I. ge.eral> the right- a. be divided i.t# t,# ateg#rie-)


8/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500'

Natural right- (right- that e=i-t i.depe.de.tly #$ a.y legal -truture a.d

Legal right- a.d #.tratual right- (right- that are reated by -#ial agree"e.t%

The .atural right- are #""#.ly 2.#,. a- hu"a. right- #r #.-tituti#.al right-% A"#.g "a.y

.atural right-> the right t# the truth i- i"p#rta.t t# the $u.ti#. #$ a#u.ti.g% The u-er- #$

$i.a.ial -tate"e.t- have the right t# truth$ul a.d aurate $i.a.ial i.$#r"ati#. ,he. "a2i.g

h#ie- #. alter.ative i.ve-t"e.t -trategie-% Thi- right i"p#-e- a "#ral #bligati#. #. the

a#u.ta.t a.d the rep#rti.g e.tity t# prepare a.d i--ue> true a.d $air $i.a.ial -tate"e.t-%

(Garte.-tei.> .%d%

O. the #ther ha.d> legal a.d #.tratual right- are i"p#rta.t i. the a#u.ta.t9e"pl#yer a.d the

a#u.ta.t9lie.t relati#.-hip-% The-e #.tratual relati#.-hip- "ea. that e"pl#yer- a.d lie.t-

have a legal right t# e=pet pr#$e--i#.al a.d #"pete.t -ervie $r#" the a#u.ta.t-% I. tur.> the

a#u.ta.t- have a #rre-p#.di.g legal duty t# per$#r" their ta-2- t# the be-t #$ their ability

,ithi. the #.-trai.t- #$ their e=perti-e% (I"p#rta.e #$ a#u.ti.g ethi-> .%d%

The the#ry #$ ju-tie U.der-ta.di.g thi- the#ry re;uire- u.der-ta.di.g vari#u- .#ti#.- #$ ju-tie%

Ge.erally> ju-tie i- de-ribed a- $air.e--> ,hih re$er- t# the #rrelati#. bet,ee. #.tributi#.

a.d re,ard% (I"p#rta.e #$ a#u.ti.g ethi-> .%d%

Bthial #de- are i.$#r"ative a.d help$ul% (I"p#rta.e #$ a#u.ti.g ethi-> .%d%+#,ever> the

"#tivati#. t# behave ethially "u-t #"e $r#" ,ithi. #.e-el$ a.d .#t ju-t $r#" the $ear #$

pe.altie- $#r vi#lati.g pr#$e--i#.al #de-% Pre-e.ted bel#, i- a -e;ue.e #$ -tep- that pr#vide a

$ra"e,#r2 $#r a.alyi.g ethial i--ue-% The-e -tep- a. help y#u apply y#ur #,. -e.-e #$ right

a.d ,r#.g t# ethial dile""a-

!tep *% 1eter"i.e the $at- #$ the -ituati#.% Thi- i.v#lve- deter"i.i.g the

6h#> ,hat> ,here> ,he.> a.d h#,%


9/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500&

!tep % Ide.ti$y the ethial i--ue a.d the -ta2eh#lder-% !ta2eh#lder- "ay i.lude -hareh#lder->

redit#r-> "a.age"e.t> e"pl#yee-> a.d the #""u.ity%

!tep 3% Ide.ti$y the value- related t# the -ituati#.% F#r e=a"ple> i. -#"e -ituati#.- #.$ide.tiality

"ay be a. i"p#rta.t value that "ay #.$lit ,ith the right t# 2.#,%

!tep 4% !pei$y the alter.ative #ur-e- #$ ati#.%

!tep 5% Bvaluate the #ur-e- #$ ati#. -pei$ied i. -tep 4 i. ter"- #$ their #.-i-te.y ,ith the

value- ide.ti$ied i. -tep 3% Thi- -tep "ay #r "ay .#t lead t# a -ugge-ted #ur-e #$ ati#.%

!tep 7% Ide.ti$y the #.-e;ue.e- #$ eah p#--ible #ur-e #$ ati#.% I$ -tep 5 d#e- .#t pr#vide a

#ur-e #$ ati#.> a--e-- the #.-e;ue.e- #$ eah p#--ible #ur-e #$ ati#. $#r all #$ the

-ta2eh#lder- i.v#lved%

!tep 8% a2e y#ur dei-i#. a.d ta2e a.y i.diated ati#.% (I"p#rta.e #$ a#u.ti.g ethi-> .%d%


10/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500!0

3% The hi-t#ry #$ a#u.ti.g a.d it- r#le i. bu-i.e--

A#u.ti.g i- a pr#$e--i#. u-ed t# "a2e $i.a.ial a.d bu-i.e-- dei-i#.-% @illi#.- #$ d#llar-

e=ha.ge ha.d- every day> i. "illi#.- #$ -eparate bu-i.e-- tra.-ati#.-% The-e are re#rded a.d

rep#rted #. u-i.g a #"prehe.-ive -et #$ guideli.e-> re$erred t# a- Ge.erally Aepted

A#u.ti.g Pri.iple- (GAAP%

A#u.ti.g) .% The b##22eepi.g "eth#d- i.v#lved i. "a2i.g a $i.a.ial re#rd #$ bu-i.e--

tra.-ati#.- a.d i. the preparati#. #$ -tate"e.t- #.er.i.g the a--et-> liabilitie-> a.d #perati.g

re-ult- #$ a bu-i.e--%

!y-te") A gr#up #$ i.terati.g> i.terrelated> #r i.terdepe.de.t ele"e.t- $#r"i.g a #"ple=

,h#le%

A#u.ti.g !y-te") The pe#ple> pr#edure-> a.d re-#ure- u-ed t# gather> re#rd> la--i$y>

-u""arie a.d rep#rt the $i.a.ial i.$#r"ati#. #$ a bu-i.e--> g#ver."e.t #r #ther $i.a.ial

e.tity (A#u.ti.g i.tr#duti#.> .%d%%

1#uble9e.try b##22eepi.g) The pratie #$ re#rdi.g a bu-i.e-- tra.-ati#. i. t,# e;ual part->

alled debit a.d redit e.trie-% 1ebit re$er- t# the le$t #lu". a.d redit re$er- t# the right

#lu".> i. a. a#u.ti.g j#ur.al%

Bah tra.-ati#. de-ribe- b#th)


11/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500!!

*% The #bjet #$ the tra.-ati#. 9 -uh a- re.t> teleph#.e> #r payr#ll e=pe.-eD -ale-> $ee #r

i.tere-t reve.ue%

% The -#ure #$ pay"e.t 9 a-h #r redit%

A#u.ti.g ,a- b#r. be$#re ,riti.g #r .u"ber- e=i-ted> -#"e *0>000 year- ag#> i. the area

2.#,. a- e-#p#ta"ia> later Per-ia> a.d t#day the #u.trie- #$ Ira. a.d Ira;% Thi- area #.tai.-

the Tigri- Buphrate- river valley> a large $ertile area *0>000 year- ag# ,ith a large thrivi.g

p#pulati#. a.d ative tradi.g bet,ee. t#,.- a.d itie- up a.d d#,. the t,# river- (A#u.ti.g

i.tr#duti#.> .%d%%

6riti.g a.d .u"ber- ,#uld be .#t be i.ve.ted $#r ab#ut a.#ther 5>000 year-% A.d ,hat happe.-

.e=t ,ill diretly lead t# the i.ve.ti#. #$ b#th ,riti.g a.d .u"ber -y-te"-%

At that ti"e> "erha.t- $aed "a.y #$ the -a"e pr#ble"- bu-i.e--e- $ae t#day% They had t#

-hip their "erha.di-e up a.d d#,. the river-> a.d that "ea.t tru-ti.g a b#at"a. ,ith their

g##d-% U.$#rtu.ately> .#t all b#at"e. ,ere h#.e-t> a.d di-agree"e.t- #$te. ar#-e ab#ut h#,

"uh ,a- -hipped ver-u- ,hat ,a- reeived at the #ther e.d (A#u.ti.g i.tr#duti#.> .%d%%

T# deal ,ith the pr#ble"> "erha.t- a"e up ,ith a. i.ge.i#u- pla.% They "ade -"all lay

t#2e.-> i. vari#u- -hape- a.d ,ith vari#u- "ar2i.g-> t# i.diate di$$ere.t pr#dut-% O.e ,#uld


12/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500!"

"ea. a ba-2et #$ grai.> a.#ther ,#uld "ea. a p#t #$ #il> et% They had #ver 00 -uh t#2e.- t#

i.diate a large variety #$ #""#. g##d-> i.ludi.g $##d> leather> l#thi.g> ute.-il-> t##l->

je,elry> et%

6ritte. a#u.ti.g re#rd- are -#"e #$ the #lde-t ,riti.g- that have -urvived u.til t#day> a.d

they date ba2 t# ira 33009300 @C% The-e early re#rd- ,ere -i"ple -i.gle9e.try li-ti.g- #$

,age- paid> te"ple a--et-> ta=e- a.d tribute- t# the 2i.g #r Phara#h% Thi- -i"ple -y-te" ,a- u-ed

u.til the "id9*400-> a.d a peri#d 2.#,. a- the :e.ai--a.e (A#u.ti.g i.tr#duti#.> .%d%%

Lua Pai#li ,a- a re"ar2able "a.% +e ,a- #.e #$ the be-t "athe"atiia.- #$ hi- ti"e> a.d ,a-

a l#-e $rie.d #$ Le#.ard# 1aVi.i% They #llab#rated #. "a.y pr#jet-% Pai#li helped 1aVi.i

lay #ut hi- pai.ti.g> The La-t !upper> ,ith "athe"atial prei-i#.% A.d Le#.ard# illu-trated

Lua- b##2- #. "athe"ati- a.d a#u.ti.g% +i-t#ry i- $ull #$ i.-ta.e- #$ #llab#rati#.

bet,ee. the-e t,# great thi.2er- a.d :e.ai--a.e "e. (A#u.ti.g i.tr#duti#.> .%d%%

#der. a#u.ti.g $#ll#,- the -a"e pri.iple- -et d#,. by Lua Pai#li #ver 500 year- ag#%

+#,ever> t#day it i- a highly #rga.ied pr#$e--i#.> ,ith a #"ple= -et #$ rule- $#r the $air

di-l#-ure a.d pre-e.tati#. #$ i.$#r"ati#. i. $i.a.ial -tate"e.t-% Bvery day trilli#.- #$ d#llar-

i. tra.-ati#.- are re#rded by bu-i.e--> g#ver."e.t a.d $i.a.ial i.-tituti#.- ,#rld9,ide% They

all $#ll#, the -a"e ge.eral -et #$ rule- (O-"#.d> 0*7%


13/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500!$

I. the U.ited !tate-> ,e $#ll#, Ge.erally Aepted A#u.ti.g Pri.iple- (GAAP a- -pei$ied

by the Fi.a.ial A#u.ti.g !ta.dard- @#ard (FA!@% 6e u-e the U! 1#llar $#r all $i.a.ial

-tate"e.t- a.d tra.-ati#.-% Other #u.trie- u-e -i"ilar a#u.ti.g rule- a- the U!> but there are

di$$ere.e- $r#" #u.try t# #u.try% I$ y#u had a bu-i.e-- i. Fra.e> y#u ,#uld u-e the Fre.h

e;uivale.t t# #ur GAAP%

GAAP devel#ped #ver 500 year- $r#" the ba-i #.ept- Lua Pai#li -et $#rth i. the *400-%

There i- a great deal #$ -i"ilarity i. a#u.ti.g pratie- ar#u.d the ,#rld beau-e they all have

a #""#. #rigi.%

6hat A#u.ta.t- 1#) a.y pe#ple i.#rretly believe that a#u.ta.t- ,#r2 pri"arily #.-i-t-

#$ b##22eepi.g% #-t pr#$e--i#.al a#u.ta.t- d# little #r .# b##22eepi.g% A#u.ta.t- are

i.v#lved i. the preparati#. #$ $i.a.ial -tate"e.t-> a.d the i.terpretati#. #$ $i.a.ial

i.$#r"ati#.> rather tha. day9t#9day re#rdi.g #$ r#uti.e tra.-ati#.-% Thi- ,#r2 i.lude- "a2i.g

-ure the $i.a.ial -tate"e.t- #"ply ,ith GAAP> pr#vide ade;uate di-l#-ure #$ e--e.tial

$i.a.ial i.$#r"ati#.> a.d are $ree $r#" "aterial err#r- a.d "i--tate"e.t- (A#u.ti.g

i.tr#duti#.> .%d%%

:#le i. bu-i.e--

:u..i.g a -"all bu-i.e-- #$te. re;uire- #,.er- t# have e=perie.e i. vari#u- bu-i.e-- $u.ti#.-%

Pr#dui.g g##d- #r -ervie-> #.duti.g e#.#"i $#rea-t-> reati.g "ar2eti.g -trategie-> a.d


14/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500!

a#u.ti.g $#r $i.a.ial i.$#r"ati#. are ju-t a $e, re-p#.-ibilitie- #$ a -"all bu-i.e-- #,.er%

Ab#ve all> a#u.ti.g play- a. i"p#rta.t r#le i. -"all bu-i.e-- "a.age"e.t> helpi.g tra2

$i.a.ial i.$#r"ati#. $#r bu-i.e-- $u.ti#.-%

!"all bu-i.e--e- u-e a "i= #$ "a.age"e.t #r $i.a.ial a#u.ti.g ,ith bu-i.e-- #perati#.-%

a.age"e.t a#u.ti.g $#u-e- #. the all#ati#. #$ bu-i.e-- #-t- t# g##d- #r -ervie-> reati.g

budget- $#r bu-i.e-- $u.ti#.-> a.d prepari.g $i.a.ial i.$#r"ati#. $#r bu-i.e-- dei-i#.-%

Fi.a.ial a#u.ti.g prepare- $i.a.ial -tate"e.t- li-ti.g -ale- reve.ue-> e=pe.-e-> a--et->

liabilitie-> a.d a-h $l#, $#r the -"all bu-i.e--% @#th type- are u-ed t# -eure e=ter.al $i.a.i.g

#r rep#rt $i.a.ial per$#r"a.e t# bu-i.e-- -ta2eh#lder- (O-"#.d> 0*7%

A#u.ti.g i.$#r"ati#. all#,- bu-i.e-- #,.er- t# a--e-- the e$$iie.y a.d e$$etive.e-- #$

their bu-i.e-- #perati#.-% Prepared $i.a.ial -tate"e.t- a. be #"pared t# i.du-try -ta.dard- #r

t# a leadi.g #"petit#r t# deter"i.e h#, the -"all bu-i.e-- i- d#i.g% @u-i.e-- #,.er- "ay al-#

u-e hi-t#rial $i.a.ial a#u.ti.g -tate"e.t- t# reate tre.d- $#r a.alyi.g a.d $#rea-ti.g

$uture -ale-%

!"all bu-i.e-- #,.er- a. purha-e a#u.ti.g -#$t,are #"puter pr#gra"- t# tra2> re#rd>

a.d rep#rt $i.a.ial i.$#r"ati#.% 6hile -"all #r h#"e9ba-ed -"all bu-i.e--e- a. u-e

-pread-heet- #r #ther ba-i pr#gra"- t# tra2 $i.a.ial i.$#r"ati#.> -peialied a#u.ti.g

-#$t,are help- bu-i.e-- #,.er- "ai.tai. aurate $i.a.ial re#rd-% C#"puteried a#u.ti.g

-y-te"- a. #"pute payr#ll ta=e- $#r e"pl#yee-> t## (O-"#.d> 0*7%


15/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500!5


16/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500!%

4% A.alye the urre.t i--ue- a$$eti.g "a.age"e.t a#u.ti.g

C#-t a.d a.age"e.t A#u.ti.g pratie help- a. #rga.iati#. t# -urvive i. the #"petitive>

ever9ha.gi.g ,#rld> beau-e it pr#vide- a. i"p#rta.t #"petitive adva.tage $#r a.

#rga.iati#. that guide- "a.agerial ati#.> "#tivate- behavi#r-> -upp#rt- a.d reate- the

ultural value- .ee--ary t# ahieve a. #rga.iati#.

the degree #$ adapti#. ,ith the .e, teh.i;ue- #r pr#edure- it depe.d- -ue--$ul%

I. "a.age"e.t a#u.ti.g ha- -everal #.te"p#rary i--ue- are pre-e.ti.g i. #.urre.t ,#rld%

A@C T& are the lurative a.d very i"p#rta.t teh.i;ue- i. "a.age"e.t a#u.ti.g%

Ativity9ba-ed #-ti.g (A@C ha- be#"e #.e #$ the "#-t p#pular "eth#d- #$ #-ti.g by u-i.g

ativitie- t# all#ate i.diret #-t-> -uh a- #verhead (I--ue i. a#u.ti.g> .%d%%

T& i- a -et #$ -y-te"ati ativitie- arried #ut by the e.tire #rga.iati#. t# e$$etively a.d

e$$iie.tly ahieve #"pa.y #bjetive-% T#tal &uality a.age"e.t i- #""#.ly e=pre--ed i.

#.ju.ti#. ,ith bu-i.e-- e=elle.e%

Hu-t I. Ti"e (HIT i- a pr#duti#. a.d i.ve.t#ry #.tr#l -y-te" i. ,hih "aterial- are

purha-ed a.d u.it- are pr#dued #.ly a- .eeded t# "eet atual u-t#"er de"a.d% Thi- "eth#d

i- very u-e$ul t# th#-e #"pa.ie- ,here h#ldi.g #-t $#r i.ve.t#r i- very high%


17/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500!)

'er# 1e$et- "ea.- ;uality #.tr#l that -trive- $#r a per$et pr#duti#. pr#e--> re-ulti.g i.

$la,le-- pr#dut-% I. a.#ther ,#rd ,e a. -ay it i- a. a-pet #$ t#tal ;uality "a.age"e.t that

-tre--e- the #bjetive #$ err#r9$ree per$#r"a.e i. pr#vidi.g g##d- #r -ervie- (I--ue i.

a#u.ti.g> .%d%

a.age"e.t a#u.ti.g i- a -peialied -ub9-et #$ a#u.ti.g> $#u-i.g #. i.ter.al .eed- #$

bu-i.e--e-% P#pular ,ith "a.u$aturi.g e.vir#."e.t-> "a.age"e.t a#u.ti.g $#u-e- #.

a--ig.i.g #-t- t# pr#e--e-% I.-tead #$ deali.g ,ith debit- a.d redit-> a#u.t- #r $i.a.ial

-tate"e.t-> a- $i.a.ial a#u.ti.g d#e-> "a.age"e.t a#u.ti.g ;ua.ti$ie- detail-> ;uality

#.tr#l-> a.d e=petati#.-% C#-t A#u.ti.g i- #.e #$ the "ai. pri.iple- #$ "a.age"e.t

a#u.ti.g% It i- u-ed t# deter"i.e budget-> #-t-> a.d pr#$itability #$ pr#dut- #r depart"e.t-%

a.age"e.t a#u.ti.g i- a ha.gi.g> gr#,i.g area ,ith "a.y halle.ge-% Fi.di.g ,ay- t#

"ea-ure #-t- a.d t# #.tr#l the" i- at the heart #$ thi- type #$ a#u.ti.g% a.age"e.t .eed-

t##l- t# #.tr#l #-t- t# all#, $#r a.aly-i- #$ pr#e--e-> "a2i.g #perati#.- "#re e$$iie.t a.d

pr#$itable% a.age"e.t a#u.ti.g u-ually $it- thi- .eed very ,ell (I--ue i. a#u.ti.g> .%d%%

#-t "a.age"e.t a#u.ti.g pr#e--e- are per$#r"ed u-i.g #"puter -y-te"- that a. ha.dle

large a"#u.t- #$ data a.d "a2e the data u-able by u-er-% C#"puter -y-te"- a.d the

I.$#r"ati#. Teh.#l#gy (IT depart"e.t are very i"p#rta.t i. "a.age"e.t a#u.ti.g%


18/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500!'

I. the urre.t ,#rld> "a.ager i- $ai.g "#re #"ple=itie- i. the #perati#. #$ daily

ativitie-% Bvery day .e, teh.i;ue- #r -trategie- are i..#vati.g $#r #perati.g #r

#.tr#lli.g #rga.iati#.% A- a re-ult> t# -u-tai. i. the #"petitive era a- a "a.ager

have t# adapt .e, teh.i;ue- #r -trategie-% Th#-e teh.i;ue- #r -trategie- "a.ager- i-

u-i.g $#r adapti.g #r #.tr#lli.g a- ,ell a- $#r getti.g #"petitive adva.tage- ,ith

.e, e.vir#."e.t it a. #rga.iati#. a. prei-ely e-ti"ate the #-t #$

i.dividual pr#dut- a.d -ervie- -# they a. ide.ti$y a.d eli"i.ate th#-e that are

u.pr#$itable a.d l#,er the prie- #$ th#-e that are #verpried%

% T&) T& i- a -et #$ -y-te"ati ativitie- arried #ut by the e.tire #rga.iati#. t#

e$$etively a.d e$$iie.tly ahieve #"pa.y #bjetive- -# a- t# pr#vide pr#dut- a.d

-ervie- ,ith a level #$ ;uality that -ati-$ie- u-t#"er-> at the appr#priate ti"e a.d

prie% T#tal &uality a.age"e.t i- #""#.ly e=pre--ed i. #.ju.ti#. ,ith bu-i.e--

e=elle.e% It i- a -ie.ti$i "a.age"e.t "eth#d#l#gy that value- the ;uality #$

#"pa.ie- a.d #rga.iati#.- ;uality .#t #.ly i. pr#dut-> but al-# i. their pr#e--e-

a.d i. their #rga.iati#. $#r ;uality "a.age"e.t% (I--ue i. a#u.ti.g> .%d%


19/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500!&

3% !IJ !IGAKAI'BN CO!TING) !i= !ig"a i- a di-ipli.ed> data9drive. appr#ah

a.d "eth#d#l#gy $#r eli"i.ati.g de$et- (drivi.g t#,ard- -i= -ta.dard deviati#.-

bet,ee. the "ea. a.d the .eare-t -pei$iati#.- li"it i. a.y pr#e--9$r#"

"a.u$aturi.g t# tra.-ati#.al a.d $r#" pr#dut t# -ervie%

The Pha-e- #$ !i= !ig"a)

* 1e$i.e) 1e$i.e the pr#jet g#al- a.d u-t#"er (i.ter.al a.d e=ter.al deliverable-

ea-ure) ea-ure the pr#e-- t# deter"i.e urre.t per$#r"a.e

3 A.alye) A.alye a.d deter"i.e the r##t au-e(- #$ the de$et-

4 1e-ig.) I"pr#ve the pr#e-- by eli"i.ati.g de$et

5 Veri$y) C#.tr#l $uture pr#e-- per$#r"a.e (I--ue i. a#u.ti.g> .%d%


20/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500"0

5% 6hat are the 2ey re-p#.-ibilitie- #$ Certi$ied Publi A#u.ta.t-/

The pri"ary $u.ti#. #$ publi a#u.ta.t- a.d publi a#u.ti.g $ir"- i- t# #.dut e=ter.al

audit- #$ bala.e -heet-> i.#"e -tate"e.t-> ;uarterly rep#rt-> a.d ear.i.g- rep#rt-% Publi

a#u.ta.t- "u-t evaluate their lie.t- $i.a.ial -tate"e.t- ba-ed #. GAA! (Ge.erally Aepted

Auditi.g !ta.dard- a.d e.-ure that the -tate"e.t- have bee. prepared i. a#rda.e ,ith GAAP

(Ge.erally Aepted A#u.ti.g Pri.iple- (CPA> .%d%%

The pri"ary ta-2 #$ CPA> ,hih e=te.d- t# all the #ther-> i- t# prepare a.d e=a"i.e $i.a.ial

re#rd-% They "a2e -ure that re#rd- are aurate a.d that ta=e- are paid pr#perly a.d #. ti"e%

A#u.ta.t- a.d audit#r- per$#r" #vervie,- #$ the $i.a.ial #perati#.- #$ a bu-i.e-- i. #rder t#

help it ru. e$$iie.tly% They al-# pr#vide the -a"e -ervie- t# i.dividual-> helpi.g the" reate

pla.- #$ ati#. $#r i"pr#ved $i.a.ial ,ell9bei.g (A !tate @y !tate A#u.ti.g Guide> .%d%%

O. the j#b> CPA)

B=a"i.e -tate"e.t- t# e.-ure auray

B.-ure that -tate"e.t- a.d re#rd- #"ply ,ith la,- a.d regulati#.-

C#"pute ta=e- #,ed> prepare ta= retur.-> e.-ure pr#"pt pay"e.t

I.-pet a#u.t b##2- a.d a#u.ti.g -y-te"- t# 2eep up t# date

Orga.ie a.d "ai.tai. $i.a.ial re#rd-

I"pr#ve bu-i.e--e- e$$iie.y ,here "#.ey i- #.er.ed


21/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500"!

a2e be-t9pratie- re#""e.dati#.- t# "a.age"e.t

!ugge-t ,ay- t# redue #-t-> e.ha.e reve.ue- a.d i"pr#ve pr#$it-

Pr#vide auditi.g -ervie- $#r bu-i.e--e- a.d i.dividual- (CPA> .%d%


22/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500""

7% 6hat are the be.e$it- #$ a#u.ti.g i. bu-i.e--e-/

A bu-i.e--- a#u.ti.g -y-te" #.tai.- i.$#r"ati#. p#te.tially releva.t t# a ,ide ra.ge #$

pe#ple% I. additi#. t# bu-i.e-- #,.er-> ,h# rely #. a#u.ti.g data t# gauge their e.terpri-e-

$i.a.ial pr#gre--> a#u.ti.g data a. #""u.iate releva.t i.$#r"ati#. t# i.ve-t#r-> redit#r->

"a.ager-> a.d #ther- ,h# i.terat ,ith the bu-i.e-- i. ;ue-ti#.% A- a re-ult> a#u.ti.g i-

-#"eti"e- divided i.t# t,# di-ti.t -ub-et- $i.a.ial a#u.ti.g a.d "a.agerial a#u.ti.g that

re$let the di$$ere.t i.$#r"ati#. .eed- #$ the-e e.d u-er-% Fi.a.ial a#u.ti.g i- a bra.h #$

a#u.ti.g that pr#vide- pe#ple #ut-ide the bu-i.e-- -uh a- i.ve-t#r- #r l#a. #$$ier- ,ith

;ualitative i.$#r"ati#. regardi.g a. e.terpri-e- e#.#"i re-#ure-> #bligati#.-> $i.a.ial

per$#r"a.e> a.d a-h $l#,% a.agerial a#u.ti.g> #. the #ther ha.d> re$er- t# a#u.ti.g data

u-ed by bu-i.e-- #,.er-> -upervi-#r-> a.d #ther e"pl#yee- #$ a bu-i.e-- t# gauge their

e.terpri-e 0*7%

A#u.ti.g i- 2.#,. a- the la.guage #$ bu-i.e--> a.d a- -uh it be.e$it- "a.age"e.t i. "a.y

,ay-% A#u.ti.g i.v#lve- re#rdi.g tra.-ati#.- a.d #"pili.g the" i. rep#rt-% A. i"p#rta.t

adva.tage #$ a#u.ti.g i.$#r"ati#. #ver #ther type- #$ i.$#r"ati#. i- that it i- ba-ed #.

.u"ber-> "ea-urable data% It i- bla2 a.d ,hite) y#u have a pr#$it #r y#u have a l#--99the .u"ber-

-pea2 $#r the"-elve- (!ha.2er> 0*7%

O.e adva.tage #$ a#u.ti.g i.$#r"ati#. i- that it i- #bjetive a.d ba-ed #. ge.erally aepted

a#u.ti.g pri.iple-% The-e are rule- t# be $#ll#,ed i. a#u.ti.g t# "a2e rep#rt- -ta.dard a.d

#"parable% 1ata e.tered i. a. a#u.ti.g -y-te" i- veri$iable data> .#t #pi.i#.- #r ,i-he-%

A#u.ti.g i.$#r"ati#. i- u.bia-ed (Charle- Laurie> 0*7%


23/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500"$

A.#ther adva.tage #$ a#u.ti.g i.$#r"ati#. i- that it i- reliable% F#r e=a"ple> ,he. y#u -ee

M40>000 i. a#u.t- payable> y#u #,e that "uh t# #ther-% I$ y#u have ;ue-ti#.- ab#ut that>

rep#rt- a. -h#, y#u h#, that .u"ber ,a- alulated% Nu"ber- d# .#t #"e #ut $r#" pie-9i.9

the9-2y% T# "a2e it t# a. a#u.ti.g -y-te"> data ha- t# "a2e -e.-e a.d t# have pr#per

d#u"e.tati#. t# ba2 it up% I. a ,ell9ru. a#u.ti.g depart"e.t> re#.iliati#.- are "ade a.d

pr#edure- are i. plae t# a--ure reliability a.d auray #$ i.$#r"ati#.%

A.#ther adva.tage #$ a#u.ti.g i.$#r"ati#. i- that it i- reliable% F#r e=a"ple> ,he. y#u -ee

M40>000 i. a#u.t- payable> y#u #,e that "uh t# #ther-% I$ y#u have ;ue-ti#.- ab#ut that>

rep#rt- a. -h#, y#u h#, that .u"ber ,a- alulated% Nu"ber- d# .#t #"e #ut $r#" pie-9i.9

the9-2y% T# "a2e it t# a. a#u.ti.g -y-te"> data ha- t# "a2e -e.-e a.d t# have pr#per

d#u"e.tati#. t# ba2 it up% I. a ,ell9ru. a#u.ti.g depart"e.t> re#.iliati#.- are "ade a.d

pr#edure- are i. plae t# a--ure reliability a.d auray #$ i.$#r"ati#. (!ha.2er> 0*7%

A.#ther adva.tage #$ a#u.ti.g i- that it #rga.ie- #"ple= data% A#u.ti.g .#t #.ly pr#e--e-

a high v#lu"e #$ data> but al-# la--i$ie- a.d -u""arie- it i. rep#rt- a.d ;uerie- ,hih i-

valuable t# "a.age"e.t% N#b#dy ,a.t- t# l##2 at page- a.d page- #$ data a.d get l#-t i. the"% I.

a#u.ti.g> data i- #rga.ied i. -uh a ,ay that i$ y#ure l##2i.g $#r ertai. i.$#r"ati#.> y#u a.

u-ually $i.d it ea-ily% F#r e=a"ple> i$ y#u ,a.t t# 2.#, h#, "uh i- y#ur #$$ie -upply e=pe.-e

thi- year> y#u g# t# the a#u.t that au"ulate- thi- i.$#r"ati#. a.d y#u get the i.$#r"ati#. that

y#u .eed (!ha.2er> 0*7%


24/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500"

Bvery bu-i.e-- have t# "a2e $i.a.ial -tate"e.t- are the "#-t #"prehe.-ive ,ay #$

#""u.iati.g $i.a.ial i.$#r"ati#. ab#ut a bu-i.e-- e.terpri-e% A ,ide array #$ u-er- $r#"

i.ve-t#r- a.d redit#r- t# budget diret#r- u-e the data #.tai.ed i. $i.a.ial -tate"e.t- t# guide

their ati#.- a.d bu-i.e-- dei-i#.-% Fi.a.ial -tate"e.t- ge.erally #.-i-t #$ the $#ll#,i.g)

@ala.e -heet (#r -tate"e.t #$ $i.a.ial p#-iti#.) -u""arie- the $i.a.ial p#-iti#. #$ a.

a#u.ti.g e.tity at a partiular ti"e a- repre-e.ted by it- e#.#"i re-#ure- (a--et->

e#.#"i #bligati#.- (liabilitie-> a.d e;uity%

I.#"e -tate"e.t) -u""arie- the re-ult- #$ #perati#.- $#r a give. peri#d%

Ca-h $l#, -tate"e.t) -u""arie- the i"pat #$ a. e.terpri-e- a-h $l#,- #. it-

#perati.g> $i.a.i.g> a.d i.ve-ti.g ativitie- #ver a give. peri#d%

!tate"e.t #$ retai.ed ear.i.g-) -h#,- the i.rea-e- a.d derea-e- i. ear.i.g- retai.ed by

the #"pa.y #ver a give. peri#d%

!tate"e.t #$ ha.ge- i. -t#2h#lder- e;uity) di-l#-e- the ha.ge- i. the -eparate

-t#2h#lder- e;uity a#u.t #$ a. e.tity> i.ludi.g i.ve-t"e.t- by di-tributi#.- t#

#,.er- duri.g the peri#d% (Charle- Laurie> 0*7


25/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500"5

8% +#, a. -trategi a#u.ti.g $ailitate better $i.a.ial dei-i#.9"a2i.g/

!trategi a.agerial a#u.ti.g> #r -trategi "a.age"e.t a#u.ti.g> i- a -et #$ pratie- a.d

teh.i;ue- ai"ed at pr#vidi.g "a.ager- ,ith $i.a.ial i.$#r"ati#. t# help the" "a2e dei-i#.-

a.d "ai.tai. e$$etive #.tr#l #ver #rp#rate re-#ure-% F#r e=a"ple> "a.agerial a#u.ti.g

a.-,er- -uh ;ue-ti#.- a-)

6hat i- the #"pa.y- average #-t per u.it #$ lab#r (e.terpri-e ,ide #r ,ithi. -pei$i

depart"e.t-/

+#, "a.y d#llar- i. -ale- d#e- eah "ar2eti.g d#llar bri.g i./

6hat i- the re;uired rate #$ retur. t# "a2e a .e, i.ve-t"e.t ,#rth,hile/

6hih ativitie- re;uire the greate-t e=pe.diture- a.d ,hih ear. the greate-t pr#$it- (a.d

h#, a. the #rga.iati#. "a=i"ie the $#r"er a.d "i.i"ie the latter/

!trategi a.agerial a#u.ti.g pr#edure- are i.te.ded pri"arily t# -upply 2.#,ledge t#

dei-i#. "a2er- ,ithi. a. #rga.iati#.% Fi.a.ial a#u.ti.g> i. #.tra-t> i- #.er.ed ,ith

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#"pletely t# the di-reti#. #$ i.dividual #rga.iati#.- (1ave> 0*5%


26/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500"%

Pr#$e--i#.al- ,ithi. a. #rga.iati#. ,h# per$#r" the "a.agerial a#u.ti.g $u.ti#. ge.erally

-upp#rt t,# pri"ary purp#-e-% Fir-t #$ all> they ge.erate r#uti.e rep#rt- #.tai.i.g i.$#r"ati#.

regardi.g #-t #.tr#l a.d the pla..i.g a.d #.tr#lli.g #$ #perati#.-% !e#.d> "a.agerial

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(A.th#.y> 0*0%

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relati#.-hip- bet,ee.> the tra.-ati#.- a.d eve.t-% a.agerial a#u.ta.t- al-# a--i-t dei-i#.

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eve.t- #. pr#p#-ed pla.- #r dei-i#.-% They al-# ,#r2 t# e.-ure the i.tegrity #$ the i.$#r"ati#.

that they pr#due a.d -trive t# i"ple"e.t a -y-te" #$ rep#rti.g that #.tribute- t# the e$$etive

"ea-ure"e.t #$ "a.age"e.t- per$#r"a.e (1ave> 0*5%

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di$$ere.e> #r varia.e> bet,ee. ,hat they pla..ed a.d ,hat they atually a#"pli-hed> #r t#

#"pare per$#r"a.e t# #ther be.h"ar2- (A.th#.y> 0*0%


27/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500")

@eau-e #$ the .eed $#r detailed i.$#r"ati#. ab#ut -pei$i #perati#.- ,ithi. a #"pa.y>

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-#lve pr#ble"- a.d "a2e pla.-D a.d


28/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500"'

4% C#-t rep#rti.g> ,hih e.tail- -h#,i.g the #-t- i. detail> i.ludi.g -h#,i.g h#, the

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#$ "a.age"e.t literature behi.d it% +#, bu-i.e--"e. "a2e dei-i#.- ha- bee. i.te.-ively

-tudied%


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Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500"&

I. "a.age"e.t a#u.ti.g> it i- u-e$ul t# la--i$y dei-i#.- a-) *% !trategi a.d tatial %

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typially pr#vide teh.i;ue- $#r a--i-ti.g i. "a2i.g -trategi dei-i#.- (1ave> 0*5%


30/31

Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500$0

References

A !tate @y !tate A#u.ti.g Guide% (.%d%% :etrieved $r#" a#u.ti.gedu%#rg)

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http-)KK,,,%,ya.t%#"Kre-#ure-Kle--#.-Ka#u.ti.gKi.tr#duti#.

A.th#.y> A% (0*0% !trategi a.age"e.t A#u.ti.g a.d 1ei-i#.9a2i.g% :etrieved $r#"

,,,%"ir#bu-pub%#") http)KK,,,%"ir#bu-pub%#"Kpd$-Khapter%pd$

@i-gay> L% (*8% Tre.d- i. Fi.a.ial a.age"e.t% a.age"e.t A#u.ti.g%

Charle-> 6%> Laurie> C% +% (0*7% A#u.ti.g% :etrieved $r#" re$ere.e$#rbu-i.e--%#")

http)KK,,,%re$ere.e$#rbu-i.e--%#"Ke.yl#pediaKA9

ArKA#u.ti.g%ht"li=4A$*Q86Hu

CPA% (.%d%% :etrieved $r#" aipa%#rg)

http)KK,,,%aipa%#rgKI.tere-tArea-KPer-#.alFi.a.ialPla..i.gK:e-#ure-KPratieCe.terK

Pr#$e--i#.al:e-p#.-ibilitie-KPage-KPr#$e--i#.al:e-p#.-ibilitie-%a-p=

1ave> % (0*5% !trategi a.agerial A#u.ti.g% :etrieved $r#" re$ere.e$#rbu-i.e--%#")

http)KK,,,%re$ere.e$#rbu-i.e--%#"Ke.yl#pediaKa.9i=Ka.agerial9

A#u.ti.g%ht"l

1u.a.> I% (*3% a2i.g the A#u.ti.g !y-te" All That It Ca. @e% CA agai.e 78%

Bthi- i. a#u.ti.g% (.%d%% :etrieved $r#" -lide-hare%.et)

http)KK,,,%-lide-hare%.etKA.jiyaaKethi-9i.9a#u.ti.g93043?38


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Running Head: Project Paper FINANCIAL ACCOUNTING (ACC500$!

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45%ht"l

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http)KK-"allbu-i.e--%hr#.%#"Kadva.tage-9a#u.ti.g9i.$#r"ati#.934%ht"l

!tephe.> G% (00?> 08% C#u.il #$ I.-tituti#.al I.ve-t#r-D Fair Value A#u.ti.g% :etrieved $r#"

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Documents

Acct Account Paper