In this study to analyze the comparative balance sheet of Indian bank. A study to show the effect on increase of decrease of the balance sheet to compare with the previous and current year balance sheet. In this statement the various aspect of the balance sheet to effect changes was show in this study. The bank assets position for post three year the bank and whether the bank financial position is good. Introduction A comparative balance sheet usually has two...
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School performance and the means by which it is measured has become a dominant focus in education today. The collection and careful analysis of data is critical in order to accurately measure performance and to provide reliable feedback for improvement in student outcomes. Various countries use a range of techniques for the evaluation and assessment of students, teachers, schools and education systems. International assessments, such as PISA, provide additional information and useful external comparators. There seems to be global recognition...
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As we discuss the difference between ‘marginal product’ and ‘marginal cost’ in this write-up lets quickly look at the definition of these two words. According to “the marginal product of labor refers to the number of products a company can manufacture if it hires more workers or assigns its current workers additional hours. The marginal cost refers to the number of amount it costs a company to produce each additional item”. Let’s check an example for better understanding. Marginal product...
2 Pages
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In Kenya, the need to improve tax compliance has been necessitated by the need to increase government revenue, bridge the widening budget deficit and generate adequate revenues to pay debts. While as, taxpayers are generally aware of their obligations and need to make their contribution towards raising the government revenue, there is a growing consensus on focus to role of the state capacity in improving the efficiency of tax administration in a way that contribute to a more accountable and...
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I agree with Shapiro and Varian’s statement of technology changes, economic laws do not. I would say economic principles do not change but evolve as technological advances take place and have a significant influence on shaping our modern-day economy. As the technology that surrounds us and is immersed in our daily life advances, it changes the efficiency and level of production for the most part, in a beneficial form for the consumer and the producer, but at the cost of...
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Patisserie Valerie, founded in 1926, is a food processing company which owned and operated a chain of cafes specializing in handmade cakes. The company’s headquarters are situated in Birmingham UK, and as of March 2019 had a revenue of $86.8M and 2,500 employees. Patisserie Valerie is owned by Luke Oliver and Steve Francis was the CEO after Paul May stepped down. The Collapse of Patisserie Valerie According to the Guardian, Patisserie Valerie has fallen into administration when the company was...
6 Pages
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Accountability is an essential part of an individual’s life, such as personal life or work. It is an important factor for exploring mistakes and taking responsibility to avoid serious problems. Accountability stipulates the initiative to inquire about the employees’ performance of duties. Taking responsibility for its negligence and interpretation is the reason for negligence in carrying out the duty, and the organization or individual will be evaluated on how they behave or perform related to something for which they are...
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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...
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The project management is “the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements” (Project Management Institute [PMI], 2004, p. 23). According to the definition, we can find that the objective of project management is to realize the value of a project, which is to meet the project requirements. The value of project management includes two dimensions. On the one hand, project management turns resources into the project outputs, thereby realizing the value of...
3 Pages
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The prudential inquiry into Commonwealth Bank of Australia which delivered its final report in April 2018 identified three types of problems, they are as follows. Governance The first type of problem mentioned in the report is governance. Governance can be defined as the way in which decisions are made. This means how the financial objectives, values and strategic priorities undertaken by a firm impacts on the decision-making and risk-management and how such decisions which are made are implemented. Since governance...
5 Pages
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‘Higher taxes for the rich! Higher taxes for the rich!” is a very popular cliché and a view held by majority in the community, however, it easier said than done. Due to many reasons it is hard to actualize this, but principally taxing the rich goes against capitalism, which is the dominant economic system of business operations adopted in many parts of the Globe. But this discussion is worth not having without answering the following fundamental question. Is it right...
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Management accounting is an analytical system that produces outputs using inputs and processes that to be implemented by the system to achieve specific management objective and transfers inputs to outputs that meet the system objectives. Management accounting system has three broad objectives: 1) provides information on the cost of products, facilities and other management matters of concern; 2) special scheduling, quality evaluation and continuous improvement data; 3) provides detailed decision-making data. Management accounting refers to interpreting the accounting information obtained...
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In this essay, I will review the main strengths and weaknesses of internal control. Internal Control Strengths There are five key strengths of internal control, which are described below. Only Accepting Orders Through Website Only accepting orders through a secure and trustworthy website, electronically, at the time of order placement addresses risks like details of customers getting hacked, sending items to customers who cannot pay. This is a preventative control which works through only accepting orders through safe means, Derby...
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In the early 1870s, three economists, William Stanley Jevons, Carl Meneger and Leon Walrus, made similar, though separate, observations in three different countries: England, Austria and Switzerland. They broke with classical economics in terms of the basic goods and services valuation principles. The classical economists based the value of a commodity on its cost of production, thus conferring on it a sort of intrinsic value, likewise from the point of view of the consumer, the value depended on the amount...
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Introduction Q. What is financial accountability? Financial accountability is a concept about respective accountability with in a financial process. This helps to maintain a string effective and efficient divisional financial control environment. This helps to understand the aspects of financial management and control within an organisation. Bifurcation and classification of roles and responsibilities and liabilities among organisational departments and divisions is one of the key aspect of financial accountability. With the help of financial accountability concept managers and employees become...
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Introduction There are many in this world who are gifted, who excel beyond the rest. They are leaders, visionaries and pioneers. A mystic all-knowing confidence surrounds their image. Bernie Madoff was one of these people. He was one of the best traders in wall street, he was wall street. His consistent investment returns made him one of the best fund managers in the world. One couldn’t just invest with Madoff, one had to know someone, be vouched for, earn the...
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Improving accountability and transparency of public spending can improve the financial management in the Malaysian public sector. Transparency is operating in such a way that is easy for others to see what actions are performed. Transparency implies openness, communication and accountability. Accountability however is an aspect of governance that has been subject to discussions related to problems in the public sector, non-profit and private sector that denotes answerability, blameworthiness, liability and he expectation of account giving. The fall of the...
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Abstract This paper is to discuss civil society and its role in promoting accountability in Botswana. This is to discuss the duties of civil society in Botswana and how they promote accountability. BOTSWANA COUNCIL OF NON-GOVERMENTAL ORGANISATIONS ( BOCONGO) as a civil society in Botswana is to be analyzed and assessing its role in promoting government accountability. The paper will discuss the role of the above organization in Botswana in terms of its duties with example’s focusing on how the...
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Individuals in the UK can be held criminally responsible from the age of 10. As such, perceptions that are held by the public regarding individuals at this age can differ hugely and is an important topic regarding the accountability of people’s actions in society. In addition to age, the gender of a perpetrator may very well also have an effect on people perceptions of accountability in an individual. In this study, participants will read 1 of 4 possible novel scenarios...
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Introduction There is an emerging trend in large and small companies around the globe on sustainability reporting since the “early part of the 1990’s, when it became the focus of academic and skilled accounting” (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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Conclusion and Recommendations The primary objective of this research is to analyse how the EP oversight role in the EU budget discharge enhances accountability. After assessing the 2017 EU budget discharge, a number of conclusions have been drawn; these conclusions are rooted on two ends; the accountability elements and the oversight tools employed by the EP in executing the 2017 budget discharge procedure. A mixture of both theoretical and empirical findings. Overall, ex-post oversight of the budget allows parliaments to...
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A Clarion Call for Inclusive Responsive Leadership Accountability For centuries, leaders have been lauded for their excellence. Whether decision-making, driving execution, or pursuing results, their collective expertise has helped the world successfully navigate industrial and technical revolutions, world wars, economic recoveries, and a multi-generational workforce (among other notable achievements). However, as globalization expands, many of those acclaimed leaders have failed to cultivate inclusive work environments; inspire and empower talent; and foster employee congruence, engagement, and belonging. This behavioral contrast reveals...
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Literature 1 Sowmya Kidambi (2012), studied on “Why It Is Important for NGOs to establish their credibility when every sector is under the scanner?” In this study, she described that as civil society organizations, nascent political formations increasingly demand transparency and accountability from the political establishment, and executive, it is ethically necessary that they develop institutional structures and systems for their own transparency and accountability. Amid this widespread call for transparency, there are many questions being raised about public resources,...
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Over the years , Australian federalism ‘cake’ has become more and more marble like under the banner of collaborative or cooperative federalism leading to more overlapping , ambiguity, duplication, bureaucracy and accountability deficit . The theoretical merit of decentralised power and therefore decentralised responsiveness had created an accountability deficit. Accountability in simple terms is to account for ones actions to those affected by them. According to Management Advisory Board/Management Improvement Advisory Committee (MAB/MIAC) report, ‘In the context of the relationship...
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“An education system needs both school accountability and school autonomy to raise attainment.” Do you agree? Explain your reasons. The state of the school system has increasingly become a concern for societies. The questioning on which systems work more efficiently to advance the cognitive and non-cognitive skills of students has installed the endeavour to seek reforms that increase attainment. Thus, Institutional measures have taken a centre stage: accountability and autonomy. The tenor of findings of the impact of autonomy has...
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ABSTRACT Artificial intelligence has been in place since the year 1956, but considering the recent momentous acceleration in the accounting and finance industry it has become the vital topic in business. It plays a foremost role in the way the functions are performed in an organisation. Recently, Artificial Intelligence has revolutionised the efficiency, quality and time taken to accomplish these functions in contrary to manual performance. In fact, the very same difference has sparked controversial debates. There is no doubt...
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Abstract Can India take the big step by combining artificial intelligence with taxation? The major source of revenue for the Government is through taxes. So, can we move towards a system wherein AI will help taxation system to be clear, easy and more compliant? Extensive use of AI & ML will definitely help our tax authorities to be vigilant about the defaulters and create a more comprehensive and transparent system. Can India move towards a taxation system where AI/ML is...
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Answer to Question 1 The amounts that Joe should include in his taxable income for the year ended 30 June 2019 is as follows: Income received from clients for electrical services of $150000 should be included in the tax returns under section 6-5 as ordinary income under ITAA 1997. Any deductions that can be claimed against this income is allowed as a deduction from the taxable income earned by the person during a year and the net amount should be...
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Financial reporting has seen great advancements since its very conception as societies trusted form of corporate communication. Disclosures required within sets of financial accounts is an area which has attracted many different viewpoints for a number of years. Some argue that sets of accounts provide all the essential information in one central place, allowing comparisons to be made and vigorous calculations to be carried out. On the other hand the vast majority are of the mindset that all information provided...
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1.0 Introduction Accounting fraud happens in a many of ways that includes deliberate acts, including misappropriation or manipulation to financial reports or documents relating to things such as expenses, sales and profits. Accounting misconduct may be perpetrated by staff, accountants or the company itself. An organization may distort its financial reports by exaggerating its revenue or assets, not recording costs and under-recording liabilities. Accounting fraud has taken place during the Industrial Revolution 4.0, as companies are checking things on the...
3 Pages
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