A- The nature, components, and the objectives of the conceptual framework of accounting: A.1- Nature of Conceptual Framework: Conceptual framework is a well-recognized instrument used to classify and identify the environment about financial accounting and the information required. Moreover, it is logical, reasonable, dynamic, comprehensive but concise, flexible to allow for change, and conscious of other frameworks standards and classifications. The primary purpose of conceptual framework principles is to provide and develop a coherent set of standards and rules to be-used in solving and coping with new and emerging financial accounting practical problems. A.2- Conceptual Framework Components: A.2.1- Basic Objectives: • Provide useful Information …show more content…
• Monetary Unit: Money is the common denominator of economic activities and provides a suitable basis for accounting measurement, reporting and analysis. • Periodicity: The firm can divide its economic activities into (monthly, quarterly, or yearly) time-periods. A.2.5- Basic Principles: • Historical cost: Provides measures about the firm 's assets, liabilities, income and expenses by information derived from the transaction or event created them. • Revenue recognition: Revenue to be-recognized when it is possible that future benefits will flow to the firm and measurement of its amount is possible. • Matching: firm recognize expenses once the product or the work actually contributes to revenue. • Full disclosure: Provide complete, sufficient, and accurate information that influence the judgment and decisions of knowledgeable user. A.2.6- Constrains: • Cost-benefit: Firm must weighs the costs of providing the information against the benefits derived from using it. • Materiality: When the presence or absence of an item effect or change the decision and judgment of a rational …show more content…
The period of these investments divided to (Sort-term and Long-term) investments. B.3- Accounting Procedures of the Investments: The accounting procedures used to record investments related directly to the purpose of the investment. B.3.1- Passive Investments in Debt and Equity Securities: Investors make this type of investments to make a high rate of profit on funds to use them in future. This kind of investments includes: a) Investments in equity securities: the investing company holds less than 20% of the other company’s outstanding voting shares. The cost method used in measuring and reporting these investments. b) Investments in debt securities: If investments sold before maturity, then they will treat as equity securities using the cost method. In contrast, if the company holds investments until the maturity date, then investments will measured and reported at amortized-cost. B.3.2- Investments in Stock for Significant Influence: Investments owned by the company in another business 's stock in order to influence or control that business. Significant influence exists when the investing company owns 20%-50% of the outstanding voting shares. The accounting procedure used to measure and report this type of investment is equity
This is the measurement of the levels of investor confidence which influences the value of a firm in the
We regularly have family members and other professionals phone our service requesting information about family members or professionals wanting an update on service users and they are advised that information cannot be shared unless there is consent, we cannot even verify as to whether an individual is residing at our service and this requires a delicate way of what information may be relayed. 4.2 Analyse the essential features of information sharing agreements within and between organizations. There are many essential features in information sharing agreements between organisations. It is very important that employees follow all agreements when sharing information. There are many agreements that need to be followed when sharing information within a company.
Running Head: Model Comparison Instructional Development Models Comparison: Concept Attainment Model and Concept Development Model Caner ŞAHİN COMPARISION OF TWO SAMPLE INSTRUCTIONAL MODELS First instructional model: Concept Attainment Model The concept attainment model based on research of Jerome Bruner, Jacqueline Goodnow and George Austin which was reported in the landmark work A Study of Thinking (1986).
There are many types of investment such as bonds, stocks, investment funds, annuities etc. The sole aim of an investment is for your asset or financial input to grow into more therefore gaining you profit and the higher the risk the higher the reward generally is. Application to Movie In The Big Short Scoin Capital used growth investment strategies.
Clients must keep records and books of accounts including cash book, sales ledger, purchases ledger and general ledger. Supporting documents such as invoices, bank statements, pay-in slips, cheque butts, and receipts for payments, payroll records and copies of receipts issued should be retained. A valuation of the stock in trade should be made at the end of the accounting period and the appropriate records maintained. Company should record sufficient to explain each transaction and to enable a true and fair profit & loss account and balance sheet to be prepared. At the end of the accounting period, a physical stock-take should be made to ascertain the quantity and the cost of the stock in hand or the cost of work in progress statements and
Lawfulness, fairness, and transparency: This means that companies and organisations must be clear and open about how they collect, use, and share personal data. It also means they must have a good reason for doing so. 2. Purpose limitation: Companies and organisations can only collect personal data for a specific reason and can't use it for anything else without first obtaining permission from the data subject. 3.
Ray’s Theory We love our “Hero’s.” In Robert B. Ray’s essay, The Thematic Paradigm, he explains that Americans have always been undecided about the value of civilization. Whether in real life or fictional, there is a contrast in the “Hero” type. First being the “Official Hero,” one who is responsible, usually having a family, job and one who believes “you can’t take the law into your own hands.”
Edmonds, T. P., Tsay, B., & Olds, P. R. (2011). Fundamental managerial accounting concepts (6th ed.). New York, NY: McGraw-Hill
An accounting memo should be a one-stop shop when it comes to forming a conclusion on an accounting issue. A company would reference an accounting memo to gather information regarding the transaction, accounting evaluation, and reason the position was taken on a problem or issue. The five critical components are listed below as a guide to prepare a professional accounting memo. I. Facts & Background • This section of a research memo is used to describe all the relevant background information to fully comprehend the needs of the transaction and the accounting behind it. •
Lockheed Martin’s shareholders are classified as dominant stakeholders because they have power to affect decisions and wield the authority to do so. This power originates from the shareholders ability to make Lockheed base its business decisions around earning money for its investors, thereby validating their legitimacy to the company as rightful owners. Despite these attributes, shareholders have little to no impact on most of the corporation’s daily management and have a low threat capacity and necessary cooperation level; they merely own the stocks. Given shareholder's status as type two stakeholders Lockheed Martin needs to monitor stock
Furthermore, in the last decade, an increasing number of major shareholders attempt to influence corporate behaviour by using their equity stakes in organisation to pressure the management for improved performance and increase the value of their investments. However, shareholder activism is believed to be very controversial. Some proponents of shareholder activism believe that the involvement of shareholders in the management of the company ensures that the invested capital is spend properly and that the directors do grant themselves excessive remuneration packages and focus mainly on maximisation of shareholder value. Opponents, on the other hand, often criticise a high degree of shareholder activism as they considered that active investors are mainly focused on their own short-term benefits and profits and not on the long term aims and goals of organisations (Corkery,
CHAPTER TWO LITERATURE REVIEW AND THEORETICAL FRAMEWORK 2.1 Introduction: This chapter would analysis photography under conceptual review as the main concept of this study, it would look at the history of photography, types of photography, and types of cameras available till date, followed by empirical review and lastly the theoretical framework would come at the end of this chapter. 2.2.1 History of photography The concept of photography was coined out of a Greek words “photo” meaning light and “graphy” meaning writing and when merged together the word means writing with light. Although different scholars proffered different definitions of photography, the concept, however still remains the same.
Income data (experiences, estimates of sales, fund rising, membership etc and planned activities). Data come from previous budgets, estimates, experience of others and public available statistics. I was also able to identify the main uses of accounting and these are as follow: Information All organizations need to keep records of their financial transactions so that they can access Information about their financial position, including: summary of income and expenditure, the outcome of all operations, assets and liabilities.
These are the set rules to guide accountants in their work of preparing and standardizing the financial statements such as income statements, balance sheet, and cash flow statements. This is important because investors rely on these statements to make their investment decisions. GAAP aids in the preparation of statements that reflect the economic reality making the financial statements comparable and easy to understand. For financial information to be useful to the users, GAAP requires the used information to be consistent, reliable, relevant and comparable. Implementation of GAAP is done through disclosure and measurement principles (Bampton and Cowton, 2013, p.557).
Also, these subsystems have a special role because of the enterprise accounting functional area does not have a strict efficient that related to the activity and operation of the enterprise. The accounting system has two main activities of the enterprise; processing information and supply information. The purpose of the accounting information system is to fulfill the accounting and reporting duties and to provide information on the high top possible level for the manager’s in make decision-making activity. There are few the characteristic sub-systems of the accounting information system, there are ledger and current account, financial, labor and wage accounting, investment, invoice and sales and stockpiling .These are a