The Sovereign Lodge is an old, but well maintained property that has changed ownership several times over the years. It has no restaurant or bar. It is positioned as a mid-price, good quality "destination" resort lodge. The Sovereign Lodge is open during the skiing season. It opens on December 2 and closes the last day of March. The ski mountain it serves operates on a permit from the state which allows only 120 days of operation per year. Each of the 50 rooms in the east wing rents for $15 f...
Abstract This article explores some of the company's accounting and financial situation to play what role in the company rise of process, thus recognizing the concepts of accountability, representation and control in the accounting and financial practices. First, we introduce the concept of accountability, representation and control, then give some examples about Apple, Facebook and Google these three companies accounting and financial practices. Followed by the actual case of the above three...
The financial Crisis which came to a head in 2007-2008 triggered widespread reappraisal, locally or international which has established brutally how weak checks and balances have been in the public market. There is a likelihood of an economic catastrophe happening, from the drastic fall in share price which has still not fully picked up even after 5 years of financial crisis (Hoogervoorst, 2012). There has been continuous development of measures reduce exposure to the risk of more financial c...
Financial Accounting Standard Board defines Conceptual Framework as 'a coherent system of interrelated objectives and fundamentals that is expected to lead to consistent standards. The rules are set in accounting standard that are formulated from the framework, but it takes preferences over the framework during the time of conflict of interpretation. Conceptual framework is a type of intermediate theory which attempts to connect all aspect of inquiries such as, defining a problem, purpose, da...
Cost systems: According to Bhimani, Horngren, Datar and Foster (2008), managers understand the need for a cost accumulation system in decision making to answer their questions about product selling price, profitability of the product, the quantity to make profit. Moreover, the problems which are many indirect cost are relevant for decision making, product decisions are not independent are also the main reasons (Drury, 2008). There are three typically cost system: direct cost systems; traditio...
The effectiveness/ efficiency of organizational control system(s) is a sine qua non to achieving set objectives (Ayers, Gordon and Schoenbachler, 2001). Controls are vital for coordinating and directing organizational resources towards set goals (Chong and Chong, 1997; Van der Stede, 1997). The effectiveness of a control system requires an understanding of the pros and cons of the various components that constitute the control system (Dalton and Miner, 2001). The tendency that individuals wou...
Research Problem: Many studies have been conducted to analyze the determinants for effective application of IT, and examine the tools used by information system auditors in many foreign countries. The use of technology has been adopted in almost all works nowadays, especially with the expanding role of e-commerce in the economy, most auditors are adopting audit software in the audit process. But (i) to what extend have computer assisted audit techniques (CAATs) been adopted by auditors in Mau...
This semester, I was assigned a term project and I have selected the second question to be answered which is "Should management accountants be involved in the pursuit of green accounting". It is of my interest since nowadays, organizations specifically manufacturing industries have initiative to care and take into consideration on the environmental conditions. Nevertheless, some of them included that consideration as their corporate social responsibility. Human being is the one who should hav...
The stewardship theory holds a different approach from that of the agency theory, it first premise is that, the company serves a large range of social purposes rather than just trying to maximize the wealth of shareholders. The stewardship theory also called the stakeholders theory assumes that corporations are social entities that affect stakeholders welfare and stakeholders are individuals interacting with the firms directly, therefore, they can affect or affected by the achievement of the ...
Spectrum Manufacturing Company is a multinational company. The income and expense statement of the company shows an increase in income year by year. The company has also cleared out its bank loan and there has also been a decrease in the long term debt over the years. The financial statements show that the company is going very well. However, we will critically analyse the performance of the company in order to gain an in-depth knowledge. This analysis will take the form of using financial an...
