CHAPTER – 03 THEORETICAL BACKGROUND OF THE STUDY 3.1 GENERAL INTRODUCTION Analysis is the process of evaluating the relationship between components parts of financial statement to obtain a better understanding of position and performance .the purpose of financial performance analysis is to diagnose the information contained in it is to judge the profitability and financial status of the various financial factors in business as disclosed by a single set of statement, and a study of the trend of these
when auditing inventory which are test of control and substantive procedures. Test of control is to evaluate the effectiveness of the control system of a client to detect material misstatements. It is a quick test to obtain audit evidence of the accounting system and internal control system. Test of control consists of inspection, inquiry, observation and re-performance. Substantive procedures is to detect the material misstatements of a client at assertion level. Most of them apply to risky clients
Ender's current credit situation. If Chris wants to maximize the value of the firm, he needs to follow GAAP and leave it to Lauren to do her job and get that credit regardless. Companies that commit accounting fraud and are caught tend to have a much higher failure rate than those that do not commit accounting fraud. And this is taking Friedman's view at face value – in truth many strong arguments have been made against his position, including Mackey's argument that other stakeholders are critical to
Throughout high school, I participated in various clubs and groups. Competing in varsity athletics such as, volleyball and track have molded me for my future; as well as being apart of the Accounting Career Awareness Program, ACAP. These clubs and programs have prepared me for my future to work in the business world, because they have exposed me to leadership and taught me essentials for the workforce. Being involved with varsity athletics, I was able to develop my sense of work ethic, but most
business such as Finance and Accounting Department, Production Department, Logistic Control Department, Human Resource Department and Marketing Department. These departments are very important to ensure the operations are performed well. Every department has its own functions and are all inter-related. For example, production department needs to order and buy the raw material and logistics department is responsible to receive and send the raw material. The Finance and accounting department of Yakult helps
The Defense POW/MIA Accounting Agency (DPAA) was a foreign organization to me prior to this assignment. The DPAA is an organization responsible for recovering captive American personal, missing, or locating deceased remains. According to the Defense POW/MIA Accounting Agency, there are more than 83,000 Americans remain missing from previous wars. These wars consisted of the Vietnam War, the Korean War, the Cold War, and World War II. I found the total number of missing Americans to be an alarming
Shannon, Nonprofit and for-profit can be affiliated, but the nonprofit entity must keep detailed documentation and be careful on how business is done in order to retain their nonprofit status with the IRS. To avoid compromising an organization’s nonprofit status, the organization must not be controlled by the same entity or individuals, the nonprofit organization cannot support the other organization, the for-profit organization cannot support the nonprofit company, both companies cannot use a common
depositing assets, or settling liabilities), that requires settlement in a currency other than the local currency of the country in which the financial institution or bank is located. While translation of foreign currencies involves converting accounting numbers from one currency into another currency for financial reporting purposes, Huang & Vlady (2012) suggest that corporations can either convert foreign currency from international trade in financial reports, or translate foreign operations and
to one’s life Pastor Sam is one of those individuals who inspire my life. He earned his master’s in economy and accounting in City University of New York and earned MBA in focus on Finance. He worked for Walmart for years in a directory position, now servicing as pastor of Chapel of Praise NWA, alongside teach accounting at the University of Phoenix, and run his own private accounting business. He get the name Sam from the bible which he believe the name is a symbol of holiness in the eye of God
agency company. Which are the places that suitable to start a travel agency company. We have learn about the department in the travel agency which are Human Resources Department, Ticketing Department, Sales and Marketing Department, Finance and Accounting Department, and Tour Department. Each department have their own job description and qualification to achieve to became and get into the department. Like how to becoming a manager of that department, who is need to be having experiences about the