1.0 Introduction Cost accounting is an accounting method that gain control a company's costs of production by assessing the input costs of each process of producing the products and fixed cost as well, such as the depreciation of equipment, insurance and interest expense. First of all, cost accounting measures and records all costs individually, then it compares input results or actual results to help companyâs management in measuring their financial performance. From this process costing accounting can help the company...
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Introduction The research study seeks to explore the role of cost accounting in the Etihad Airways. The research methodology chapter helps in identifying the adopted tools and techniques by the researcher to gather the essential information and data for a purpose of analyzing the given research topic. The research methodology chapter allows the reader to evaluate the nature of the entire research study (Mackey & Gass, 2015). The main goal of cost accounting is to maintain accurate and up-to-date product...
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Section A: Importance of accounting information in managerial tasks Planning- accounting information helps in business planning for long term and short term. It helps to make plan before business operation. Previous accounting information tells that where and how they can improve it in the future. Budget- Business managers often use accounting information to make budget for the company. They can check that previously where they have spent money for business operations. They can make sure that the company should not...
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Assessment Prompt 1: Applying stakeholder theory, explain the factors that affected inventory management at DSG over the period 2013 to 2016. What impact did inventory management have on profitability? The process of inventory management illustrates the effective approach to ensuring an entity has an appropriate amount of stock on hand to be sold, and to ensure that this stock is not held for such a time that it becomes obsolete. From the information provided, Dick Smith Group (DSG) executed a...
4 Pages
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Organizations of different business settings create different management departments and integrate them to achieve their objectives successfully. Accounting is a broad and crucial field in every setting. A relevant aspect of a business to highlight is the managerial and financial accounting departments. By developing and integrating them, the business will certainly be able to control its internal and external environment with success. A key approach to understanding each department role and significance is by comparing and contrasting their distinct functions...
2 Pages
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Introduction There is an emerging trend in large and small companies around the globe on sustainability reporting since the âearly part of the 1990âs, when it became the focus of academic and skilled accountingâ (Lamberton, 2005). This trend is a result of more people becoming aware of the importance of sustainability development and the benefits and impacts it brings to businesses and society at large. Additionally, sustainability is becoming a way of life mainly in developed countries as businesses endeavour...
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Background of the Study Financial management is one of the most critical aspects in a business operation. The difference between what accounting principle are followed varies on the nature of the business itself. Thus, one of the most common principle used in the practice is cost accounting. The importance of this cost accounting in management is that it records the company's cost which influences the value of the company in the profit-driven operation (Drury, 2013). By doing so, up-to-date financial...
7 Pages
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Ethics has been an integral part of the accounting profession since its inception and often has been viewed as the cornerstone of the profession. The accounting profession is continuously evolving and giving rise to complex ethical dilemmas for accountants. This essay will identify two ethical dilemmas based on research performed and analyze the impact on stakeholders as well as provide suggestions to address the dilemmas. Dilemma 1: The modern accounting profession has undergone a rapid shift, especially in public practice...
4 Pages
1981 Words
In this current era, nurses are encountering an ample amount of ethical and legal issues in their professional lives. These profuse legal and ethical concerns in nursing practice need to be highlighted as prominent issues that require special attention by healthcare professionals. Nurses are responsible for providing the best quality care, ensuring safe ethical, and legal approaches towards decision making and dealing with the best interest of patients. As a result, a few portions of healthcare professionals pose a serious...
5 Pages
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Are you aware that the current world is investing more in spatial research than terrestrial study? Space inquiry is the discovery of celestial structures in outer space implemented by ever-evolving technology. Furthermore, Space exploration has facilitated digital communication, biological research, and an increased understanding of astrophysics. However, the cost is questionable considering humanitarian hardships. An aspect of the spatial study that is often overlooked is digital communication. For a significant portion of the world's population, sharing information via mobile phones,...
2 Pages
1001 Words
Auditing is the process of locating and verifying information, evaluating it to predetermined criteria, and creating an audit report. According to (Marx, et al., 2011), In South Africa, the auditing profession evolved in tandem with the growth of corporate law and governance procedures. The auditing profession is an impartial, independent assurance and advising activity that contributes to and improves an organization's functioning. In our work, we will discuss about ethical conduct fundamental principles, threats and mitigations, and Corporate governance. The...
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The aim of this essay is to explore and define accountability and responsibility and how this will be applied using the perspective of a newly qualified nurse. There will also be a discussion surrounding delegation with the addition of an action plan which will provide strategies that can be implemented to enable me to become an accountable and successful delegator. Accountability and responsibility within nursing are considered to be critical issues and are included in the Code of Professional Conduct...
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Cash Flow Essay Cash flow, a term often thrown around in the world of finance, is a concept that is fundamental to understanding a company's fiscal health. At its essence, cash flow represents the movement of money into and out of a business. It's the inflow and outflow of cash, painting a picture of how a company receives and spends its money. The following sections will show us the essential parts of cash flow in the USA and shed light...
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Accounting dates to ancient civilizations. For many years people have been engaging in trade and also coordinated systems of government, practices of record-keeping, accounting, and accounting tools have been in use. It prevails to enable people to be informed about their financial judgments. It is concerned with accumulating and assessing financial data and then transmitting this data to those preparing conclusions. (Wood, 2015) This essay details the resemblances and differences between management accounting and financial accounting. âAccounting is the process...
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After having gone through the two weekly readings, I have gained a basic level of familiarity with the fundamental concepts and terms introduced in the readings. Based on my understanding, I have selected two topics â one each from the two weeks â wealth generation and opportunity costs, which I think are important concepts in managerial economics. I will be discussing them separately. First, I would like to discuss Wealth Generation. Wealth Generation: Wealth can be defined as a measure...
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Taxes can influence many people. The future generations need to know how it can relate to other things we do in life. Gen Z tends to work in a world of technology and rely on the things all filled on our phones, social media, and many more. The nation pays taxes day by day, month by month, and even yearly. There are many good facts about the tax environment and this shows much of our society. Learning the essentials of...
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Within this essay, I will explain what police accountability is, and detail both internal and external accountability as well. I will discuss the steps and measures that are taken to ensure police accountability and the mechanisms that are in place to provide an adequate check on police powers. I will also bring to attention some past debates that are in relation to police accountability, for example, the brutal death of George Floyd. Police accountability is the action of holding individual...
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For this assignment, which is justifying contributions to the development of the poster for the 10 principles of a good public policy, five peer-reviewed articles that discuss the principle of transparency and accountability as a worthy principle of a good public policy were selected. These principles were selected using a working hypothesis, thus, openness is a key element for the formulation of good public policy. This hypothesis helped me to lunch exploratory research studies (theoretical framework) and to critically deduce...
5 Pages
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Police accountability is an issue that is under constant scrutiny in today's society. The statement âpolice are more accountable now than they have ever beenâ is a highly controversial statement with which I agree with to some extent. Due to the constant scrutiny our police force faces, there are continuous new ways emerging how to make the accountability of police officers more reliable. This is extremely important as accountability is essential for the maintenance of the public's faith in the...
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Obesity has been a big problem in the UK because the government hasnât taken control over the consumption of sugary goods, especially sugary drinks. Market failure is created when the allocative efficiency is not used in its maximum efficiency. So, when community surplus is not maximized, we have market failure. A certain product is either over or under produced. Merit goods will be under supplied, and demerit goods will be over supplied. In market failure, itâs a study about realizing...
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âNobody spends somebody elseâs money as carefully as he spends his ownâŚâ, â Milton Friedman. Taxation, a means by which governments finance their expenditures by imposing charges on citizens and corporate entities, is used according to the ACCA (2013) for one of three reasons: to raise revenue, to redistribute wealth, and to change behavior. This essay will focus on income and wealth taxation in the United States, which makes up 81% of the federal revenue (National Priorities Project, 2015). Most...
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Many organizations are benefiting from us. They are promoting a lot of unhealthy food at a very low price, taking benefit from it by having us to agree with a ridiculous idea that itâs good for us to purchase these unhealthy products. Big Food Brands like Anheuser Busch, NestlĂŠ, and PepsiCo are responsible for using this tactic manipulating people of America to buy extra of their products. With so many of these unhealthy options at an alarmingly low fee, they...
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One of the most important questions that has to be raised is whether it is right or even ethical for smokers to pay a high amount of tax on tobacco or not. Or even whether individuals who live a healthy lifestyle and donât smoke are forced to pay a cost for something that they never even did. There are 3 reasons as to why, in my opinion, smokers should pay an extremely high tax on tobacco. Firstly, the most obvious...
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Poverty is an increasing issue in modern day that stems from wealth inequality. Families that hold wealth throughout generations are making an increasing gap in income in the United States which is making the poor even more poor. Poverty can have several negative effects on a personâs long-term health, including heart attacks, inflammatory diseases, and even can attribute to a premature death. While some argue that a more aggressive progressive tax is the best way to solve things, the most...
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In America today, there is a constant conversation about taxing the rich. Theyâre arguments on both sides of the coin. As of right now, since taxes are based on percentages, wealthy citizens should not be required to pay higher taxes because they fairly earned their money and they should get to keep it. On the other hand, some people believe that wealthy people should pay more taxes because they already have plenty of money so it is nothing when they...
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At the end of 2017, President Trump signed into law one of the largest tax code overhauls since the 1980s. The President assured taxpayers that this bill included a simpler and more reformed tax code, protection for lower- and middle-income Americans and cuts for corporations that would in theory spur investment and economic growth. Once implemented, however, this bill disproportionately benefited higher earners, created loopholes for profitable corporations, increased the federal deficit and did not deliver the high economic growth...
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Aptly described by WHO as an âescalating global epidemicâ (WHO, 2002), the burden of obesity on communities is self-evident: an estimated 3 million deaths and 2 trillion dollars in medical costs (Dobbs et al., 2014). To address the challenge member nations have introduced tax policies to regulate peopleâs nutrition. The phraseology âjunk foodâ is attributed to sugar sweetened beverages and energy dense processed foods and may apply to foods of higher than needed caloric value (Donald et al., 2015). The...
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In this essay I'm going to be discussing the following: why the government has introduced a sugar tax and the results of this initiative, future plans to increase this scheme as well as potential alternate methods to improving the nationâs health without punishing the consumer. The government last year joined the ranks of many other nations around the world in introducing what has been dubbed the 'sugar tax', joining the 'sin taxes' that are already currently in place. This new...
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Tourism is a critical source of income for many countries but for Scotland in particular, it is a major source of revenue. Yet a substantial part of the money made from tourism does not go to the local council or benefit the whole population. Instead, the money is going into the hands of accommodation providers, cafes, restaurants and retail outlets. The government has to pay to repair and build new roads and bridges, maintain schools and hospitals and keep free...
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The federal government collects revenue from income taxes, capital gains taxes, and payroll taxes. Tax rates depend on income types. Income taxes are progressive â that is, initial dollar amounts are taxed at a lower rate and additional dollars are taxed at higher rates. Income from investments (capital gain) is taxed at a flat 15%. Payroll taxes are charged at a flat rate only on the first $113,700 an individual earns. Letâs look at the tax rates for 2012 and...
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