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| Essay # 98525 |
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Accounting Theory and the Case of Frantek, Inc., 2006.
This paper presents a plan for improving the balance sheet of Franktek Inc. in light of a renegotiated agreement it entered into with Conte Technologies.
1,125 words (approx. 4.5 pages), 4 sources, £ 30.95
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Abstract
In the case of Frantek, Inc., a manufacturer of microcomputer parts, and Conte Technologies, a buy of same, the issue is how to measure and recognize valuation of assets and liabilities in order to provide a proper accounting at year's end for Frantek, relevant to an amended agreement between Frantek and Conte for parts supplied by Frantek to Conte. This paper first lays out the basic facts of this case and discusses general accounting principles which will impact the path that Frantek takes and then presents a general recommendation concerning how Frantek ought to recognize revenues, valuate inventories, and valuate and classify liabilities. Issues of the Case Frantek agreed to provide 100,000 boards over a 12-month period to Conte at a stipulated price per board, with provision for penalties for failure to perform.
From the Paper
In the case of Frantek, Inc., a manufacturer of microcomputer parts, and Conte Technologies, a buy of same, the issue is how to measure and recognize valuation of assets and liabilities in order to provide a proper accounting at year's end for Frantek, relevant to an amended agreement between Frantek and Conte for parts supplied by Frantek to Conte. After laying out the basic facts of the case and discussing general accounting principles which impact the path taken, a general recommendation will be made concerning how Frantek ought to recognize revenues, valuate inventories, and valuate and classify liabilities. Issues of the Case Frantek agreed to provide 100,000 boards over a 12-month period to Conte at a stipulated price per board, with provision for penalties for failure to perform.
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Accounting Case Study: Krispy Kreme, 2006.
This paper is an analysis of the financial and managerial accounting of Krispy Kreme, the international doughnut company, during the period from 1998 to 2002, and the degree to which it indicates future problems.
1,520 words (approx. 6.1 pages), 4 sources, APA, £ 34.95
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Abstract
This paper explains that, although the road had been a bit rocky, Krispy Kreme's financial position has substantially improved in the five years since 1998. The author points out that the ratio of company and franchised stores sales are somewhat disturbing. The paper indicates that, after 2002, a series of problems developed for the chain, which could not have been foreseen previously. The author relates that Krispy Kreme's managerial accounting report did not address how a company in good financial position can change once it goes public, expands to foreign countries, looses control of its franchisees and does not keep up its market research program to determine changing social dynamics. The paper stresses that the forward-looking statements of the managerial accounting involve risks and uncertainties, which may cause the actual results to differ materially from expectations.
From the Paper
"These figures do represent the continued investment within the capital expenditures of the company. Otherwise, the depreciation figures would not continue to go up. Krispy Kreme restructured in 1999, a $9,466 cost, which may reflect the poor performance.
Their income from operations is doing well. We see $5,420 in 1998; a loss of $3,702 for 1999; a major payoff for 200 with $10,828 and likewise for 2002, $23,507 and $41,887. However, we do see an equity loss in joint ventures in 2001 and 2002, showing the company, as stated in the report, has ventured into new areas - the real estate."
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Systems Development Case Study: the Case of PepsiCo, 2005.
A case study looking at PepsiCo's implementation of a new procurement tracking and data-keeping system.
900 words (approx. 3.6 pages), 1 source, £ 24.95
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Abstract
The paper looks at PepsiCo's recent decision to implement a new procurement tracking and data-keeping system for its international operations. It paper examines the objective that drove the change, the factors at play which made it desirable, the main participants in the new design, and the systems development cycle approach which would have worked best had it been implemented at the start of the entire process.
Finally, the paper looks at the problems and opportunities that would have been considered by the student if he had been in charge of the design and implementation of the new procurement system.
From the Paper
"The following paper will briefly review five questions which invariably arise when assessing why a particular systems arrangement is adopted by an organization. Specifically, the paper will look at PepsiCo's objectives for any Purchase to Pay system modification it undertakes, what factors were present to motivate the company to implement the project, who were the main participants PepsiCo had to involve so as to develop the corporation's revamped Purchase to Pay system, which systems development cycle approach would have been best for the PepsiCo project and, not least of all, what problems and opportunities should have been considered in conducting the initial systems investigation? This is a fairly complex topic, but the underlying truth it reveals are not especially complex at all; to wit, the case study of PepsiCo underscores how important it is to examine every option and scenario before making detailed changes.."
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Accountability and User-harm In Accounting, 1989.
A focus on responsibility and regulatory issues and revision of the ethics code. Examples of user-harm resulting from accounting information.
1,350 words (approx. 5.4 pages), 10 sources, £ 32.95
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From the Paper
Introduction
" The purpose of this research is to examine harm to users of accounting information stemming directly from the use of that information. Harm to users of accounting information has resulted from instances of (1) deficiencies in generally accepted accounting procedures (GAAP), (2) inadequate performance on the part of professional accountants, and (3) outright fraud (Dingell, 1988, E2161).
Accountability in Public Accounting
An important development which is in the process of occurring in contemporary American public accounting is a change in the way in which professional public accountants are held accountable for their actions ("National Commission on Fraudulent..."
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Enron and Accounting, 2005.
An overview of the Enron case from an accounting perspective.
1,125 words (approx. 4.5 pages), 3 sources, £ 30.95
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Abstract
This paper discusses the Enron case and what it says about how certain accounting standards were violated. The paper notes how the case involved unethical accounting practices which inflated earnings and spent other people's money, because while the accounting profession is governed by a set of rules to assure ethical conduct, many of these rules were ignored or broken outright by Enron and its accountants.
From the Paper
"The Enron scandal involved a company that inflated its earnings and so fooled investors, but the scandal also saw executives making a profit while the pensions of employees were dissipated until they were worthless. Examples of unethical behavior in this scandal are many. The issue was made all the more important because of other, similar lapses around the same time as several large companies went bankrupt and left investors stranded. At the heart of these scandals stood unethical accounting practices which inflated earnings and spent other people's money. The accounting profession is governed by a set of rules to assure ethical conduct. Many of these rules were ignored or broken outright by Enron and its accountants. The Enron scandal broke in 2001 when the company made a routine announcement about of $0.43 recurring third-quarter earnings per share."
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Accounting Ratios, 2006.
This paper defines the term accounting ratios and details why they are a significant tool applied by accountants when presenting accounting statements.
1,841 words (approx. 7.4 pages), 10 sources, MLA, £ 41.95
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Abstract
The writer of this paper examines the importance of accounting ratios in business. Accounting ratios illustrate the present as well as the prospective, so that shareholders can visualize how much gain a business attained, the total worth of the assets and the level of cash reserves available. This well-researched paper discusses the advantages and disadvantages of accounting ratios. One significant drawback of the accounting ratio is that it depends too heavily on the conventional costs that lead to twists in quantifying performance. Ratios are required to be represented meticulously. They can entail the evidences to the performance of the company or financial environment. However, they are unable to demonstrate whether the performance is good or bad out their own. The writer details the manner in which the final figures of accounting ratios are achieved, while discussing the fact that these ratios necessitate some quantitative information for an informed analysis to be made. The writer contends and clearly explains why accounting ratios are completely dependent on the supplied data which may or may not be accurate.
Table of Contents:
Introduction
Discussion
Conclusion
References
From the Paper
"A markedly low accounts ratio may give rise to angry suppliers and remarkably high inventory turnover ratios may lead to supply shortages and angry customers. The one that is correct for one company may not be considered appropriate for another one. Besides, no two companies are found to be similar irrespective of the fact that they are competitors in the same industry or market. Application of ratios to evaluate one company with another provides misleading information. Businesses may be within the same industry but have distinguished financial and business risk. Ratios are completely dependent on the data that may or may not be accurate."
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Accounting, 2005.
A discussion on managerial accounting and financial accounting.
675 words (approx. 2.7 pages), 0 sources, £ 18.95
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Abstract
This paper discusses the two unique sub-functions within the accounting field: managerial accounting and financial accounting. The specific functions, responsibilities and duties of each function are discussed. Further consideration is given to the ethical implications involved with each accounting division. Enron is mentioned as a prime example of how ethical considerations can not only undermine the financial solvency of a company but, ultimately, can cause its demise.
From the Paper
"The presence of financial accountants and management accountants in most large corporations today is a testament to the complexity of the global economy, the legal and governance rules an entity must operate under, and the sheer amount of information the profession must deal with on a daily basis. Though there are many functions that overlap within these two divisions of the same profession, each classification serves a uniquely strategic function. In general, financial accounting is responsible for the historical financial records and data of a company and is largely responsible for ensuring legal and regulatory compliance. Managerial accounting is responsible for providing interpretive reports of financial accounts which managers and executives use to make operational decisions and devise corporate strategy. "
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Accounting, 2005.
A discussion on the double declining balance method and the straight-line method of accounting.
675 words (approx. 2.7 pages), 2 sources, £ 18.95
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Abstract
This paper is on an accounting case for a company called Octavan which is changing its accounting system and other aspects of accounting to improve its revenue picture; the company is about to shift to the double declining balance method. The paper discusses how the use of this method will give the company a boost in the first year or so, but at some point will reach the same level as the straight-line method, at which time the company will have to change again to the straight-line method.
From the Paper
"In the Octavan case, the company is about to shift to the double declining balance method. The use of this method will give the company a boost in the first year or so, but at some point it will reach the same level as the straight-line method, at which time the company will have to change again to the straight-line method (Double declining balance depreciation method, 2005, paras. 1-3). This change along with the reduction in accumulate depreciation should save the company money in the first few years and so is a clear benefit with little apparent downside. The move might alter the financial picture of the company as far as investors are concerned, but the company already has secured its loan and can use the added funds in the early period to pay for that loan and to help increase revenues."
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Accounting Differences, 2006.
This paper examines the field of accounting and looks in particular at managerial and financial accounting.
2,025 words (approx. 8.1 pages), 0 sources, £ 55.95
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Abstract
In this article the writer discusses the two unique sub-functions within the accounting field: managerial accounting and financial accounting. The specific functions, responsibilities and duties of each function are discussed in relation to the broader field of accounting. Further consideration is given to the income statement and balance sheet and how they are related. Finally, the use of accounting principles and techniques in managerial decision-making is also discussed. The document concludes with a brief overview of accounting.
From the Paper
"Accounting within the business sphere is largely divided into two separate divisions: financial and managerial accountants. The presence of financial accountants and management accountants in most large corporations today is a testament to the complexity of the global economy, the legal and governance rules an entity must operate under, and the sheer amount of information the profession must deal with on a daily basis. The importance of accounting as a basic function of business activity cannot be overstated."
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Accounting, 2004.
An experimental analysis of nontraditional business students and their perceptions of accounting in an introductory accounting course.
8,583 words (approx. 34.3 pages), 24 sources, MLA, £ 125.95
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Abstract
This paper examines and assesses the perceptions of nontraditional students, or adults, regarding accounting as a major field of study and a potential career choice. It is often assumed that nontraditional students are more motivated because of maturity, life experience, and the decision to study accounting based on work force experience. The paper presents a study of selected Christian university adult and graduate degree programs. In addition, the paper attempts to determine if there are any differences in attitudes, perceptions, and assessments of traditional and nontraditional students regarding this field of study.
Table of Contents
Chapter 1:
Introduction
Problem Background
Literature Review
Purpose of Study
Research Questions/Hypothesis
Limitations/Delimitations
Definitions
Importance of Study
Chapter 2: Review of literature
Chapter 3: Methodology
Introduction
Research Design
Selection of Participants
Instrumentation
Limitations or Assumptions
Procedures
Data Processing and Analysis
From the Paper
"Simply put, for many students, accounting is seen as too much work and very hard compared to other fields of study. The course of study for accounting majors has become more difficult in order to provide expanded coverage within the curriculum to achieve an increased degree of accounting competency. Professional accounting associations have become more concerned and have begun to address critical skills that are needed by accounting majors. The American Institute of Certified Public Accountants (AICPA) and the Institute of Management Accountants (IMA) issued documents in the early 1990s that aligned accounting curriculum more closely to actual accounting practices. This is one reason why the programs have study have become more demanding and stringent. There has been a definite impact on students' decisions to leave accounting as a major. It is one of the few disciplines that have undergone such scrutiny and policy changes regarding educational curriculum."
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Purchase Accounting vs. Pooling of Interests, 2002.
This paper examines the differences between the purchase method and the pooling method used in accounting.
2,625 words (approx. 10.5 pages), 8 sources, MLA, £ 54.95
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Abstract
This paper looks at the two different accounting systems for mergers and acquisitions, and evaluates their effectiveness. It uses the merger of Idol Steel and Crown Welding to demonstrate their point. First the details of the merger are first examined using the pooling of interests accounting system, and then, by the purchase accounting system. After the two cases are presented, the author presents a direct comparison of the numbers and the methods used to do the calculations, to show the strengths and weaknesses of these two methods. Through this comparison, the author substantiates the FASB' s elimination of the pooling method in order to improve financial reporting.
From the Paper
"Accounting for a business combination using the pooling method is conceptually straightforward. Upon completion of the business combination, the balance sheet of the combined entity reflects the sum of the book values of the assets, liabilities and owners's equity accounts of the combining entities immediately before the combination takes place (Walter, pg 29). The pooling method treats the entities as if they had always been together and thus the combination as "non-event" (Baker, Lembke, and King, 2002, pg 20). Unlike the purchase method when utilizing the pooling-of-interests method it is not necessary to indicate which entity is the acquirer and which is the acquired (Journal of Accountancy, July 1999). However, in order to use the pooling method there are twelve criteria that must be met. If one of the criteria is not met the use of the purchase method is required but if all twelve criteria are met, the pooling method is required (Baker, Lembke, and King, pg 27)."
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The Accounting Cycle of Canon Inc., 2007.
An look at the accounting cycle at Canon Inc. and the importance of the accounting cycle to an organization.
1,143 words (approx. 4.6 pages), 3 sources, MLA, £ 27.95
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Abstract
This paper discusses the importance of an accounting cycle for an organization. The paper first goes through the basic steps of the accounting cycle and then looks at them in detail with respect to the selected organization, Canon Inc. It describes how Canon Inc., which is a large organization, makes use of computerized accounting methods.
Table of Contents:
The Accounting Cycle
The Steps of the Accounting Cycle
The Accounting Cycle at Canon Inc.
From the Paper
"The basic purpose of an accounting department in an organization whether it is big (having an independent and separate department) or small (where accounting department is not even a possibility) is to keep a record of accounting data and then process this data into accounting/financial information by preparing financial statements. Keeping in view the basic accounting principles the financial statements should be prepared not only on a regular basis but also on a specific regular time interval (which remains on the discretion of the organization). To meet this objective a proper framework or a series of steps is required that regularizes the whole matter and this is exactly what the accounting cycle is; a series of steps beginning right from the recording of a simple transaction to the compilation of final statements and closing of the accounts."
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History of Accounting, 2008.
This paper presents a chronological history of accounting from early civilization to modern times.
1,990 words (approx. 8.0 pages), 6 sources, APA, £ 43.95
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Abstract
In this paper, the author traces the history of accounting from the days of early civilization by looking at its gradual development over the next centuries during which writing was invented by accountants; the "invention" of money, banking, and credit during the ancient Greek and Roman civilizations; the introduction of the innovative double entry bookkeeping system by accountants in the 16th century that fueled the Italian Renaissance; the use of sophisticated cost accounting techniques by smart entrepreneurs during the Industrial Revolution; the expanding role of accounting in businesses in the late 19th and early 20th century, and finally, the current state of the accounting profession.
Outline:
The Earliest Traces of "Accounting" in History
Mesopotamian Accountants Invent Writing
Accounting in Ancient Egypt and China
Invention of Coined Money and Banking
Accounting in Medieval Age
Invention of Double Book-keeping by Italian Merchants
Accounting's Role in the Industrial Revolution
Expanding Role of Accounting
The Current State of the Accounting Profession
From the Paper
"Increasing government regulations such as the Bankruptcy Act of 1869 in Britain increased the accountants' role in bankruptcy and liquidations. The Companies Act of 1862 required banks to be audited and the audit became mandatory for all public companies by the end of the century. This further expanded the role of the accountant in auditing. Industrialization in other countries of Europe and the United States at the end of the 19th century and early 20th century, and the rise of big business coincided with the invention of important accounting and business gadgets such as the calculator, typewriter, and tabulating machines. This gave a further boost to accounting and it gradually became an established profession. Accounting firms such as Cooper Brothers (later, Coopers & Lybrand) were formed and big business firms such as Carnegie Steel adopted sophisticated cost accounting to control operations, cut costs, and even eliminate competition to earn huge profits (Ibid). Du Pont, J.P. Morgan, Standard Oil, and General Motors were other big business firms in the U.S. that thrived after adopting modern cost accounting methods."
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