In 1992, Kaplan and Norton first published a paper about the Balanced Scorecard（BSC）. It was a huge success and BSC soon became very popular all over the world. Before BSC emerged, organizations usually use traditional methods of performance evaluation focused mainly on financial measures such as ROCE, sales and profits. BSC translates an organization's mission and strategy into a comprehensive set of performance measures that provides the framework for a strategic measurement and managem...
The Historical Cost Accounting (HCA) concept has attracted significant criticisms since the price level of UK started to rocket around the 1970's. The inflation generated problems and concerns over HCA, exposing the weaknesses. As a result, three main models have been proposed to replace the HCA. In this essay, it will be illustrated that (1) the weakness, strength and problems of HCA; (2) Comparisons between CPPA/GPPA, RCA, NRVA, that have been proposed to replace HCA; and (3) The approach o...
Adhering to the International Financial Reporting Standards has become common practice in recent years. According to L. Murphy Smith, in his research summary Key Differences between IFRS and U.S. GAAP: Impact on Financial Reporting, " [o]ver 100 countries now require IFRS as the basis of financial reporting by their publicly-traded companies. In the U.S., convergence of U.S. GAAP to IFRS has been ongoing for many years." The Taiwan government also has been working on adopt IFRS step by step s...
Lawrence Wong & Co. was established in 1986 before the Malaysian economic recession in 1987. It has established itself as a recognized Management Consultancy Firm specializing in all kinds of management and consultancy services, including corporate secretarial, administrative, bookkeeping, auditing, taxation, business or financial planning and other management allied services. The company was founded by Mimi Gian Guek Poh and Lawrence Wong Fook Heng, both are Chartered Accountants from Austra...
This simple costing model has generally been effective for campus-based academic programs since the costing model has become widely accepted industry practice by many higher education systems. However, traditional assumptions, like service to mission area and the intrinsic value of general education, have rendered such models largely ineffective for determining long-term program viability. In addition, many important campus elements are not accounted for in the traditional model, and often ...
Introduction The purpose of this report is to discuss the advantages and disadvantages of Traditional absorption and Activity based costing. In addition, analysis will be carried as to why a company needs either the Traditional based costing or the Activity based costing. Differences between both steps will be looked into. Moreover, this report will also consider, explanations of an allocation, an apportionment, absorption rates and suggestions will also be made as to what method is suitable....
Balance score card is a tool that an organization uses to monitor the performance of an organization. Financial as well as non-financial performance indicators are measured in balance scorecards. It helps management to know about the factors that causes bad performance of a company. Balance scorecards are used widely by the public, private and NGO sectors. Balance scorecards include the targets that are set for an organization. Balanced Scorecard was first brought to public attention through ...
Abstract. Secret sharing scheme is a strategy for data protection. Secret sharing is a method of how to distribute and share secret information (text, picture or image) among a group of N participants, so that we can recover the secret only by pre-designated sub-collections of participants. In the traditional secret sharing schemes, shared secret information can be revealed only with complex cryptographic computations. Various schemes have been proposed. However the size of the shares and imp...
Introduction To ensure long-term success for an organisation, environmental accounting has played an important role over the past decades and has been providing reports for growing companies to ensure that they comply with the environmental law (Yakhao & Dorweiler, 2004). Environmental accounting highlights contribution to the economic from natural resources and the well- being of the cost imposed by the pollution done by an organisation (Mylonakis & Tahinakis, 2006). Environmental policy ide...
The Importance of Accounting To understand accounting information and use accounting information is important for any business. "Information that is provided to external parties who have an interest in a company is sometimes referred to as financial accounting information," according to Williams, Haka, Bettner, and Carcello (2006, p. 4). The main reason in providing accounting and financial information is the use of said information in decision-making purposes. Many groups, including company ...
