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International Financial Reporting, 2005.
This paper explains that many factors, such as history, politics, differential currency types, ease of conversion and regulations of various international banking institutions, prevent full harmonization of international financial reporting.
3,445 words (approx. 13.8 pages), 3 sources, MLA, £ 69.95
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Abstract
This paper explains the history of the inter-relationship of political and economic changes that effect today's problem of harmonization of currency and reporting such as (1) competing economic policy objectives similar to today's problems with oil, (2) the Janus-faced nature of international capital flows and (3) the changing center of influence of the international system from the United Kingdom and toward the United States. The author points out that the new ISO engineering standards represent a model for standardizing accounting and reporting processes not only by solving the problems of harmonizing the accounting and reporting process but also by offering an open-ended approach, easily adaptable to even the smallest of enterprises. The paper stresses that this need for global standardization means that the mundane "bean-counters" of the past must be replace by today's global accountants trained in several disciplines.
Table of Contents
Thesis Statement
The Powerful Influence of History
The Gold Standard
The Rise and Dilemmas of Bimetallism
The Development of the International Monetary Systems between WWI and WW II
The Bretton Woods System and its Problems
The Harmonization of the British Pound, U.S. Dollar and the European Common Currency
The Future Outlook from an ISO Point of View
From the Paper
"Between the wars, the United States overtook Britain as the leading player in the commercial and the financial domains. However, America's foreign financial and commercial relations did not yet fit together in a way that produced a harmoniously working international system. Moreover, with even today's technological edge America is finding the attainment of harmonization a difficult task at best. Great Britain likewise struggles with several issues in this area. Hence, when postwar planners again contemplated the reconstruction of the international system, they sought a framework capable of accommodating these changed conditions. The solutions to the problems are not at all straightforward and thus the pronounced lack of harmonization of accounting and reporting."
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Defining Artificial Intelligence, 2006.
This paper examines the modern day debate that questions whether artificial intelligence (AI) is a reality or merely an extension of expert systems (ES) application programs.
1,810 words (approx. 7.2 pages), 3 sources, APA, £ 41.95
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Abstract
The writer of this paper defines the terms for both artificial intelligence (AI) and expert systems (ES) which to a limited degree is currently making its way towards the fields of accounting and auditing. This paper explores the lingering doubt and disagreement over whether AI truly exists or if it's merely a highly sophisticated ES application. This paper contends that AI's history is traceable backward through the millennia to the point where humankind first walked upright and attempted to make tools an extension of themselves.
Topics covered in this report include:
Thesis Statement
Defining the Topic
The Artificial Intelligence Side
Prehistory
The Modern Birth of AI:
Enter the Pseudo Science of Psychology
The Chinese Room
Can Computers Be Creative?
Bibliography
From the Paper
"The technological advances and particularly their rapidity in the just past half century - and particularly the last decade - began as an effort to build a digital computer for military use. This use was, to not only help in the guidance of munitions but also to help decode secret messages coded by several clever schemes all created within the minds of men and women. The Nazi Germany's Enigma Machine is the classic example and indeed the code was broken, however by intelligent personnel rather than a machine, digital or otherwise. Ironically, the Japanese military codes were broken early on in the war by the U. S. Navy Code-breakers located in Pearl Harbor."
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IRS Up for Improvement, 2006.
Discusses the problems revealed with the IRS, after an audit by the General Accounting Office, and what management can do to address those problems.
5,615 words (approx. 22.5 pages), 33 sources, MLA, £ 97.95
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Abstract
This paper discusses an audit performed on the IRS by the General Accounting Office and the problematic issues discovered by that audit. The paper points out that some of the issues include information security problems that include the potential for damage to both the government and taxpayers as well. The paper also breaks down the issues individually in order to determine which issues can be resolved by managerial changes.
Table of Contents
Introduction
Situation
The Issues
Governmental Proposed Solutions
Conclusion
From the Paper
"He noted that historically, IRS reports has had significantly overstated its receivables primarily because IRS included duplicate and insufficiently supported assessments that it had recorded as part of efforts to identify and collect taxes due. Bowsher explained that while IRS may have a need to maintain such records for enforcement purposes these and many erroneous assessments were not valid receivables for financial reporting purposes and should not have been included in the reported balances. He also noted that in addition IRS' estimates of the collectibility of its receivables have been unreliable because, in addition to including invalid receivables, IRS relied solely on collection experience and did not group assessments according to their collection risk or consider the taxpayer's current ability to pay. Bowsher concluded that this unreliable information on IRS' accounts receivable has affected decisions about the impact of increased collections on the deficit, evaluation of enforcement and collection performance, determination of staffing levels, and allocation of resources."
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Evaluating Business Stability, 2005.
This paper lists and defines many accounting ratios that are used to evaluate a company's stability.
1,255 words (approx. 5.0 pages), 4 sources, APA, £ 30.95
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Abstract
This paper explains that stability measures the long-term health of a business by using ratio analysis to interpret the financial position of any business; while ratios can be used to set targets and to measure performance, they are by no means foolproof. The author, as an example, defines the 'Acid Test' ratio as 'Cash and Near Cash' divided by 'Current Liabilities', which measures the ability to meet current debt and is a stringent test since it discounts the value of inventories; the rule of thumb is 1-to-1 with a lower ratio indicates illiquidity and a higher ratio may imply unused funds. The paper relates that the Sharpe Ratio, which is based on a risk-adjusted measure developed by Nobel Laureate William Sharpe, calculates using standard deviation and excess return to determine reward per unit of risk.
From the Paper
"The P/E looks at the relationship between the stock price and the company's earnings. The P/E is the most popular metric of stock analysis. The P/E gives you an idea of what the market is willing to pay for the company's earnings. The higher the P/E the more the market is willing to pay for the company's earnings. A low P/E may indicate a "vote of no confidence" by the market or it could mean this is a sleeper that the market has overlooked. What is a desirable P/E? It all depends on the investors' willingness to pay for earnings. The more they are willing to pay in the belief that the company has good long term prospects over and above its current position, the higher the right P/E is for that particular stock."
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Sage 2000 Accounting Pack, 2006.
Describes the set up, use and features of a specialized business accounting system known as the Sage 2000 Accounting Pack.
1,619 words (approx. 6.5 pages), 4 sources, MLA, £ 37.95
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Abstract
In addition to describing the benefits of the Sage 2000 Accounting Pack in comparison with other business accounting packs, this paper also describes how the software is set up and used, its special features and its ability to expand with a business as it grows.
From the Paper
"One can walk into any computer sales shop and find shelf after shelf of different accounting programs to accomplish general accounting procedures for the small business. The prices of these products range widely according to the complexity of the software system. The installation or setup of this type software automatically becomes one's ultimate responsibility upon breaking the seal on the packaging and this can become quite an entangled situation for the not too computer literate. Therefore, most of these systems, some quite good for what they accomplish, for our purposes shall be left in the "buyer beware," category along with the recommendation for bypassing them altogether."
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The History of Accounting, 2006.
A comprehensive history of accounting in America.
1,855 words (approx. 7.4 pages), 1 source, MLA, £ 42.95
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Abstract
The author introduces the topic by discussing the modern day needs of society to have accountants and how their importance is often overlooked. He then recounts the earliest known form of accounting and how it has developed over the years, stating many examples of where it is necessary to have good accounting skills and how these skills were developed. The paper concludes with what the future can bring for the accounting world.
From the Paper
"Methods of accountancy were somewhat modernized during the Renaissance in Italy, where Arabic numerals had been introduced long before for financial purposes; Luca Pacioli's Summa de Arithmetica, Geometria, Proportioni et Proportionalita (1494)
is viewed as a crucial work in determining the course of Renaissance, and eventually modern, accounting. While Benedetto Cotrugli had invented the double-entry system of accounting before the publication of the Summa, Pacioli's methods greatly expanded on these ideas, containing 36 chapters on bookkeeping and earning the rare distinction of publication. "
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Derivative Securities, 2006.
An overview of derivative securities, what they are, their purpose and the financial disaster they can bring if not managed properly.
1,668 words (approx. 6.7 pages), 6 sources, MLA, £ 38.95
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Abstract
This paper begins with a brief explanation of what derivative securities are and what purpose they serve. Next, the paper briefly explains how derivative activity level can be monitored and then takes a look at the derivative disasters that befell the Baring Brothers of London and the local government of the city of Orange County. The paper explains that these disasters were a result of careless strategies with derivatives and examines the lessons learned from these two disasters. Finally, the paper suggests measures that can be taken to prevent such disasters from happening again.
From the Paper
"A Derivative is a contractual relationship established by two (or more) parties where payment is based on (or "derived" from) some agreed upon benchmark. Derivatives are risk-shifting devices. They are most frequently used to reduce exposure to changed in foreign exchange rates, interest rates, or stock indexes."
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Traditional Cost Accounting vs. Activity Based Costing, 2006.
This paper examines the pros and cons of two specific cost accounting systems: Traditional cost accounting (TCA) and activity based costing (ABC).
1,725 words (approx. 6.9 pages), 9 sources, MLA, £ 39.95
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Abstract
The writer of this paper stresses that the purpose of any cost accounting system is to provide current information about the total cost of manufacturing a product or performing a service. This paper analyzes in detail the strengths and weaknesses of traditional cost accounting (TCA) and activity base costing (ABC). TCA is a well developed method of estimating cost incurred while the ABC system is based on costs which are driven by factors other than product volume.
From the Paper
"A problem may arise in the use of actual overhead costs. The problem stems from the fact that many of the elements of manufacturing are fixed costs, rather than variable costs. Fixed costs are those that tend to remain relatively constant from month to month. Examples of fixed overhead costs include the monthly salary paid to plant managers, depreciation, property taxes, and insurance on plant assets."
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U.S. and International Accounting, 2006.
This paper explores and evaluates the impact of international and U.S. accounting practices as well as the effectiveness of The International Accounting Standards Committee.
1,320 words (approx. 5.3 pages), 5 sources, APA, £ 31.95
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Abstract
The author explains why standardization in global markets must occur which will result in increased international investments. This paper examines the different accounting methods and theories in various countries and compares them to the U.S. accounting system. The author goes on to rationalize that to maintain a semblance of order and understanding, there has been a constant effort to come up with a harmonious "language" and set of standards that would cover all the nations involved in the economies of the world.
From the Paper
"The two major reasons that standardization must occur is the increased amounts of international investments, and global financial markets. This is a far more intricate movement than a company's moving production to a "sweat-shop economy". We are now seeing joint ventures, mergers and acquisitions, as companies position themselves for the 21st Century, including the new "euro" currency for the European union, and the problems which need to be handled in South East Asia, as well as the opportunities looming in China, which still has its Most Favored Nations Status, thus encouraging American firms to invest, create joint ventures, and even build their Sino-American subsidiary plants and distribution centers. So, as an example, how is accounting to be handled in such cases? Through American or Chinese accounting methods? The simplistic answer, of course, is to create a unified system."
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Four Publicly-Traded Companies, 2006.
This paper uses the prospectus and the quarterly and annual financial statements of each company as required by Security and Exchange Commission (SEC) to compare four publicly-traded companies: Bausch & Lomb, PepsiCo, The Gillette Co and Brush-Wellman.
1,170 words (approx. 4.7 pages), 0 sources, £ 28.95
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Abstract
This paper explains that publicly-traded companies, by law and in compliance with the Security and Exchange Commission (SEC), must submit financial statements to the SEC and to their shareholders in accordance with Standard Accounting Practices and Auditing Procedures dictated by standards established by the American Institute of Certified Public Accountants. The author points out that PepsiCo and the Gillette Company present different reporting styles; although both meet and far exceed all reporting requirements, the Gillette Company "plays it very close to the vest" by restricting the distribution of their data concerning their operations such as presenting their "Costs of Goods Sold" figures as muddled as they can keep them legally. The paper concludes that the consensus from this analysis of these four companies is that their current ratio trends should continue over the next two to four years, with the possible exception of Bausch & Lomb, which must address its stiff competition or continue to suffer the company's downward trend.
From the Paper
"Bausch & Lomb publish their Returns on Equity, a dismal 6.4%, and 43.86% below the Industry Average. In addition, their published Returns on Assets also are dismal at 2.1%, and 56.25% below the Industry Average, with their Returns on Inventory Costs equally bad at 4.7%, and 37.33% below Industry Average. This company is the only one of the four to publish data usable to calculate these returns. All three of the others do not publish the information; for security reasons, both government enforced and self imposed therefore these numbers are impossible to compute for them in any comparative format."
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International Accounting, 2005.
This paper explains the function of accounting as international business continues to grow rapidly.
3,305 words (approx. 13.2 pages), 11 sources, MLA, £ 67.95
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Abstract
This paper explains that international trade is complicated by the various currencies which are used in the world's marketplace, because, whenever an entity buys from a foreign supplier or sells goods to a foreign customer, the parties involved must agree on the currency to be used to settle the transaction. The author points out that the biggest problem is the inability to "interpret" financial statements from foreign countries properly because the standards in each country vary and they cannot be merely equated with domestic standards and regulations. The paper relates that, to attempt to maintain a semblance of order and understanding, there has been a constant effort, especially since the formation of the International Accounting Standards Committee (IASC) in 1973, to establish a harmonious "language" and set of standards, which would cover all the nations involved in the economies of the globe.
Table of Contents
Overview
The Needs and Opportunities for International Harmonization
G-22
IOSCO
Conclusions
From the Paper
"Given the differences and the need to develop a harmonious system of accounting standards, why is it not happening, at a time when joint ventures and buy-outs by the wealthier nations of industries in the hard-hit lands (Thailand and Mailaysia) This question can be asked again and again, and different versions may appear in this essay, but no one has an adequate answer. It is not asking a total revolutionary upheaval of financial or accounting practices. Still, many national accounting associations want to be the one making some sort of "sacrifice", It is a source of national pride, rather than a globalizing opportunity. However, there are groups, made up of international financial and accounting leaders, who want to make at least some progress."
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Taxation, 2006.
A review of Daniel Altman's article which looks at the proposal to replace income tax with a national sales tax.
1,784 words (approx. 7.1 pages), 5 sources, MLA, £ 40.95
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Abstract
This paper examines the argument put forth by Daniel Altman, concerning the abolition of income tax, in his article "What If a Sales Tax Were the Only Tax?". The paper considers Altman's article, which analyzes Representative Joe Linder's proposal to replace the income tax with a national sales tax and discusses Altman's point that such a proposal cannot be undertaken in such a simple a manner as Linder makes it sound.
From the Paper
"Altman makes something of the same point when he notes that one advantage left to the national sales tax would be to serve the interests of the White House in creating an "ownership society" by chipping away at taxes on financial income and wealth. Altman suggests that this would mean that high-earning people would have to work harder to shift their income to nontaxed sources, though it is not clear why this would be so or that it would do more than slow down the process, not end it."
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Strategic Management Accounting, 2006.
A discussion and overview of the ideas and issues behind strategic management accounting.
1,625 words (approx. 6.5 pages), 7 sources, MLA, £ 37.95
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Abstract
This paper explains that strategic management accounting is a balancing tool for top management that balances risk with opportunity, changes in the market place with pricing, profitability with expansion, and even diversification with withdrawal of an unsuccessful product line. The paper further explains that strategic management accounting is a tool that no modern corporation, regardless of size or its product, can do without in today's global, competitive economy.
From the Paper
"During the last few years, the ideas and issues of strategic management accounting have received widespread attention in accounting literature and studies. To some, these theories have seemingly been accepted without rigorous investigation. The fact remains that the burden of management is not merely to control people, products, and the bottom line, but to make use of forecasting, turning assumptions into reality, and to utilize accounting figures into making the proper decisions. Accounting, it turns out, has become far more than a "numbers" arm of management. It has become a means of finding the right and most profitable paths to growth and a strong market position."
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Tax Case Study, 2006.
A summary of a tax law case initiated by Allied Signal Inc. against the State of New Jersey Department of Taxation.
1,911 words (approx. 7.6 pages), 4 sources, MLA, £ 43.95
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Abstract
This paper summarizes and analyzes a case of Tax Law involving the State of New Jersey, Department of Taxation, The State of New Jersey Court and the State of New Jersey Supreme Court verses Allied Signal, Inc., as Successor In Interest to the Bendix Corporation. The paper explains the core issue of the case and the rulings of the State of New Jersey Court and the State of New Jersey Supreme Court. The paper also discusses points of technical interest of the case and opinions of individual Justices of the Court who presided over the case.
From the Paper
"The State Court of New Jersey upheld the Director, Division of Taxation in the dispute whereupon it was appealed to the Appellate Court of State of New Jersey. The Appellate Court of New Jersey upheld the ruling of the lower Court whereupon the case was granted appeal to The Supreme Court of the State of New Jersey. The Supreme Court of the State of New Jersey upheld both the Appellate and lower Court whereupon Allied Signal wound the case through the Federal Tax Courts all the way to the Supreme Court of the United States."
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