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  • Forensic Accounting Introduction

    2818 Words  | 12 Pages

    Introduction and development of Forensic accounting The term forensic auditing started from the 1940’s and has taken significant Place in this modern economy.” In the late 1940s, forensic auditing proved its worth during World War II; however, formalized procedures were not put in place until the 1980s when major academic studies in the field were published (Rasey 2009). Forensic auditing is the specialty area of the accountancy profession which describes engagements that result from actual or anticipated

  • Literature Review Of The Managerial Accounting System

    744 Words  | 3 Pages

    Literature Review Management accounting uses financial information to perform effective changes. Accounting numbers gives objective feedback about profitability and efficiency that help to identify the problems and opportunity areas. To be helpful, managerial accounting system must perfectly reflect company activities, getting helpful information in adequate details without taking more time than their worth. Managerial Accounting information must provide well-timed and valid information to facilitate

  • Information Technology's Impact On Accounting

    1102 Words  | 5 Pages

    Technology has on Accounting System and it is the ability of companies to develop and use computerized system for tracking and recording the transaction in finance. By using IT network and computer, the accountants have compressed the time necessary for preparing and presenting financial information to management. This type of system helps the companies to make individual reports quickly and effortlessly for Management in Decision Making. Other advantages of using IT on Accounting Systems It Increase

  • The Importance Of Accounting Standards

    1359 Words  | 6 Pages

    Accounting standards are an integral part of the accounting process. If properly implemented, they can create business expansion and facilitate the flow of user-friendly information to several different users including investors, banks, regulators and the public. This is a cyclical process and if accounts of a business are properly prepared in accordance with accounting standards, it encourages confidence in the business and this in turn boosts trade. In order to allow investors to make informed

  • Importance Of International Accounting Standards

    1346 Words  | 6 Pages

    Introduction: Is a set of accounting standards and interpretations issued by the International Accounting Standards Board These standards aim to develop operations and calculations where the standards become more quality and effectiveness and be understood and participants have the ability to apply them in the global capital market, Depends are so many countries in the world standards and some other countries abandoned uncle statehood and international standards adopted. And due to the importance

  • The Importance Of Financial Accounting

    1109 Words  | 5 Pages

    store, at the center, every business will handle finances. This makes financial accounting practices are important. Financial accounting can drive a business to success and can show an owner where there is room for improvement. It also allows outsiders like investors and stock holders to know the health of a company

  • Importance Of Cost Accounting

    1259 Words  | 6 Pages

    In particular, financial practitioners from the business community and public accounting firms are opposing the idea of using current value accounting as they felt that historical cost accounting is more practical and reliable. They have points to support their argument. They argue that historical cost is relevant to make economic decisions. Since business managers have to make decisions concerning future commitments for the company, they will need information on past transactions to weight out whether

  • Accountinging Systems: The Advantages Of Accounting Systems

    1235 Words  | 5 Pages

    The benefits of small businesses using accounting systems are efficiency, increase cash flow, more accurate records and reduced fraudulent activity. As stated in the Journal of Accountancy “Data integrity and speed improve as manual processes such as spreadsheets are replaced with automation. While spreadsheets are a useful tool they can be prone to errors and have no means to track changes made to them.” Journal of Accountancy. Increased efficiency and reduced human error are two significant

  • Matric Accounting Case Study

    1519 Words  | 7 Pages

    In matric accounting, we learn mainly about companies as a form of ownership as in previous years we learnt about sole proprietorship and partnerships. A company is a form of a business enterprise which is created by a group of people that all share a profit motive. A company can either be public or private, and for it to operate it must be registered with CIPC. I will be discussing a few concepts that are unique to companies. 1. The Companies Act The purpose of the companies act is to promote compliance

  • Professional Skepticism In Accounting Ethics

    721 Words  | 3 Pages

    Professional Skepticism is not new in the accounting profession, in fact, it was first labeled as such in 1977 in SAS (Statement of Auditing Standards) 16 (Ray 2015). Professional skepticism is a critical trait of an auditor. Both international and US audit standards call for professional skepticism as a key component of an audit (PCAOB 2012; IAASB 2016). The Public Company Accounting Oversight Board (PCAOB), created as a result of the Sarbanes-Oxley act of 2002, has cited a lack of professional