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The Impact of Distance Learning in Accounting Higher Education, 2004.
Introduces a research study on the impact distance learning has had on the teaching of accounting in higher education.
1,453 words (approx. 5.8 pages), 3 sources, MLA, AU$ 78.95
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Abstract
This paper introduces a study that is intended to analyze whether, in the field of accounting, distance learning represents the best method of teaching, as compared to more conventional modes of teaching accounting, such as full-time study with more regular contact with teachers.
From the Paper
"Distance learning has grown in popularity amongst students over recent years, for many reasons, one of which has to be the rise of the internet and its application to distance-learning implementation. In addition, people who wish to study, but who are unable to study full-time for various reasons (for example, needing to work, needing to look after a family etc.) have discovered the flexibility of distance learning, and have begun to take advantage of the potential of distance-learning. In addition, distance learning courses are also usually a great deal cheaper then full-time courses, and for this reason, they also offer an excellent opportunity for a great number of people, who had considered study in the past, but who were put off by time constraints, and also the high cost of education."
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HealthSouth Accounting Irregularities, 2004.
Oral presentation presented by an independent auditor of the HealthSouth Corporation regarding its alleged accounting irregularities.
766 words (approx. 3.1 pages), 4 sources, MLA, AU$ 44.95
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Abstract
This paper is an oral presentation of the findings of an independent auditor of the HealthSouth Corporation. The audit concerns a 300-million-dollar refund HealthSouth is seeking from the federal government on the over-inflated profits it reported on its assets. The auditor asserts that no indications of Medicare fraud were found and that the over-inflated profits reported by the company were a result of HealthSound projecting assets not truly expected to incur, as well as a refusal to take into consideration the costs of the company (reporting only money accrued, rather than actual profits. This, in turn, was facilitated by the bureaucratic nature of the medical industry, where reporting of costs, payment of bills, and administrative costs are often delayed because of the nature of health care providers. The paper concludes by stating that HealthSound has not been negatively impacted by the allegations of securities fraud and that it is, and will continue to be, a sound company because of the quality its product.
From the Paper
"As a part of this presentation, I, as an independent auditor commissioned by the committee of the firm representing the HealthSouth Corporation, wish to make clear that the company I have just audited, though tarred and feathered by the modern media, is not nearly at fault as one might initially believe, given the nature of the following components peculiar to the health services and health care industry. Although HealthSouth?s supposed irregularities may have been elided in the public imagination with corporations such as Enron, it is not an ?imaginary corporation.? Mistakes were made, but these mistakes should not cause individuals to forget the ongoing quality of care still provided by the company."
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LIFO and FIFO Accounting Methods, 2004.
This paper discusses two accounting solutions to the inventory problem: FIFO, ?First-in, first-out? and LIFO ?Last-in, first-out?.
1,255 words (approx. 5.0 pages), 3 sources, APA, AU$ 68.95
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Abstract
This paper explains that, in inflationary times, LIFO users will report higher cost of goods sold and, hence, less taxable income than if they used FIFO. The author points out that the system of LIFO has the potential to encourage merchandise to pile up in warehouses, and most countries outside the U.S. largely reject it as an option for public companies. The paper relates that Wal-Mart and Target, both year-round, discount, retail operations not subject to seasonable flux or to the dangers of perishable goods, use the LIFO accounting methodology.
Table of Contents
The Impact of the Financial Statements
The Impact on the Firm's Current Ratio
The Method Used by the Company's Major Competitor or the Industry as a Whole
Does LIFO Make Sense for this Company?
From the Paper
"When calculating an inventory under the FIFO method, the inventoried goods sold are the oldest produced or purchased by the company. LIFO uses the opposite method. Instead, the inventoried goods sold are the goods most recently produced or purchased. LIFO suggests that companies always want to sell their newest inventory, even if they still have old stock sitting around. Lofton points out that ?LIFO's a very American answer to the problem of inventory valuation,? because in times of rising prices, it can lower a firm's taxes through generating figures of lower taxable income."
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The Sarbanes-Oxley Act of 2002, 2004.
Discusses the Sarbanes-Oxley Act, which was designed as a response to the wave of corporate fraud cases that riddled the corporate landscape in America in 2002.
5,095 words (approx. 20.4 pages), 10 sources, MLA, AU$ 207.95
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Abstract
This paper looks at the Sarbanes-Oxley Act that was enacted in order to rectify the constant corporate scandals, fraud, and failures sweeping across the United States. The paper discusses the purpose of the Act, outlines its contents, explains exceptions to the Act that apply to foreign companies, and includes a timetable chart for its implementation. Issues such as independence and corporate responsibility, independence within the accounting profession, accountability and disclosure, and how the Act affects banking organizations that are non-public are also discussed in this paper.
From the Paper
"The Sarbanes-Oxley Act is aimed at private companies by definition, as Section 108 on Accounting Standards implies. However, despite this seemingly straightforward definition, non-public banking companies are finding themselves under the jurisdiction of the Act based on their former standing with regard to SEC and FDIC regulations."
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Activity-Based Cost in the Department of Defense, 2004.
This paper discusses the ABC accounting process, which evaluates and determines ways to improve the quality of financial decisions at the Department of Defense (DoD).
2,505 words (approx. 10.0 pages), 5 sources, APA, AU$ 123.95
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Abstract
This paper explains that the Department of Defense (DoD), with more than $1 trillion in assets and a budget that accounts for about half of the federal government?s discretionary funding, has a need for accurate accounting processes. The author points out that ABC captures quantified cost and time data and translates it into information for making decisions by measuring process and activity performance, by determining the cost of business process outputs, and by identifying opportunities to improve process efficiency and effectiveness. The paper concludes that the ultimate decision will be based on a blended action that minimizes cost and time, while creating a better outcome.
Table of Contents
Big Need for Accurate Accounting
ABC in the Military
Process Decision Example
Success Stories
NASA
Fleet and Industrial Supply Center (FISC)
Military Resistance to ABC?
Who Might Benefit in the DoD?
From the Paper
"In the 1990s, the RAND Corporation, including its defense-oriented federally funded research and development organizations, offered a better way for the DoD to pay for its purchases, one it thought would improve the interactions; after all, if a unit overspent in one year, then the next year it would be looking for lower prices. That meant that the organization it purchased from would experience a loss, or potentially could, which in turn could affect the service or product quality or delivery. However, the WCF arrangement bore the stamp of approval of the DoD Comptroller?s office, which suggested that the WCF approach has saved ?billions of dollars by providing managers with greater visibility into the costs of DoD support operations.?"
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Leadership and Management, 2004.
A study of the needs of a company in terms of good leadership and management.
2,105 words (approx. 8.4 pages), 6 sources, MLA, AU$ 107.95
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Abstract
This paper attempts to explain that the key components responsible for the success or failure of an organization are the organizational goals and objectives. The paper looks at businesses since the Industrial Revolution and explores what characteristics have made one business succeed over another, with particular reference to the management of the entity. As an example, the paper uses the automobile industry in the U.S. and studies the major car makers.
From the Paper
"In addition, Toyota also practiced the Just in time (JIT) system. They preferred when their suppliers were closer to their manufacturing their sites and both raw materials and semi finished did not have to add value in transportation and storage cost. Toyota tried to achieve excellence in the manufacturing process there by decreasing and completely eliminating waste (muda). Any process or operation that did not add value to the product and the material waste generated during production was considered wasteful. Acceptable quality limit (AQL) was practiced in the mass production sector in the United States and therefore Toyota?s policy of complete waste elimination and 100% quality was novel."
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K-Mart, 2004.
An analysis of the K-Mart chain, using a fictitious store, presenting the business history, and potential of the company.
2,404 words (approx. 9.6 pages), 8 sources, MLA, AU$ 119.95
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Abstract
This research examines the methodology of conducting a performance analysis and subsequent suggestions for strategic analysis. The subject of this research is a fictitious K-Mart store. This research is based, in part, on actual situations faced by K-Mart and its subsequent bankruptcy. A plan of intervention, implementation of that plan, and possible resolution of the current crises of the fictitious K-Mart are also offered. An historical analysis of the past four years of performance data is used to gain insight into possible strategic solutions to the company?s problems.
From the Paper
"K-mart is one of the largest retailers in the nation with over 600 stores nationwide. The financial success of K-Mart not only has an impact on the corporation itself, but K-mart is an imbedded icon in many local economies, both as an employer and as tax revenue. In Nashville, alone, the K-Mart corporation plans to close four stores in 2003 (Nashville Business Journal, 2002). This is expected to have a negative effect on the local Nashville economy. This same scenario is being played out in many cities across the United States. Because of this effect on many local economies K-mart has been under tremendous pressure to re-evaluate their strategies and to develop plans that are effective and than will quickly place them in a positive strategic position."
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Money, 2004.
A brief explanation of how money works in today's economy.
1,507 words (approx. 6.0 pages), 7 sources, MLA, AU$ 80.95
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Abstract
This paper explains what money is and how it works. The paper begins by providing a history of money, from the original barter systems to the cash currency we know and use today. The paper then shows the different uses for money in today's economy and how money has become a complex system of acquisition, investment, and status.
From the Paper
"The uses of money is of course as versatile as money itself. The most common use is of course as unit of exchange. Money is used to buy every items such as clothing and food. As a unit of account, money is used to measure the value of goods. Using its monetary value, the value of the good is determined compared to the value of all other goods. This is the same system by which the value of money itself in terms of global currency is determined. Finally, money as store of value means to determine the ability of a good to maintain its value over time."
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The Sarbanes-Oxley Act, 2002.
This paper discusses the Sarbanes-Oxley Act, passed as a means of stopping financial abuses, such as the 2002 WorldCom scandal.
1,700 words (approx. 6.8 pages), 10 sources, MLA, AU$ 89.95
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Abstract
This paper explains the Sarbanes-Oxley Act of 2002, which requires all companies to file periodic reports with the SEC, changes the responsibilities of directors and offices, and modifies the reporting and corporate government obligations of SEC-reporting companies. The author points out that the business objective of the Sarbanes-Oxley Act is to restore investor confidence in companies and markets. The paper concludes that, in the long run, the Sarbanes-Oxley Act will do little to increase the integrity of certified financial results and may only lead to an upswing in litigation.
From the Paper
"The economic fall out of corporate fraud has been devastating (Taylor, 2003). Seven of the twelve largest bankruptcies in U.S. history are now working their way through the courts. A slew of over-hyped Internet companies have gone out of business. On December 2, 2001, Enron filed for what was then the largest bankruptcy in US history at $63 billion. This was followed by bankruptcy filings from Adelphia Communications in June ($24 billion) and by Worldcom ($104 billion) in July, the largest bankruptcy in history. In all these cases, the companies had simply lied about their earnings. And, the stock market has been decimated. The bear market has lasted longer than that of the Great Depression. At its low, the S&P 500 was down forty-nine percent from its high in 2000, and NASDAQ was down seventy-eight percent."
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Future Accounting Practices, 2002.
A review of the changes expected in the practice of accounting in businesses.
1,954 words (approx. 7.8 pages), 5 sources, MLA, AU$ 101.95
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Abstract
This analysis identifies several expected changes in the field of accounting. These include that the reporting of financial information will become more strictly regulated; that the reporting of financial information will involve international regulations and standards; that accounting departments will have an international aspect to their operations; that information technology will impact on the role of the accounting department; that the accounting department will provide more diverse information; and that the skills and functions required of accountants will increase.
From the Paper
"Accounting has always been related to measuring the activities of the business and reporting those activities in suitable ways. Financial statements are created not only to tell the business how it is functioning, but also to pass that information on to shareholders and other interested third parties. This is the task of disclosing financial information and it is a crucial one. One source notes that the primary goal of financial accounting is to provide information to external users of accounting information. Most major organizations are supported by shareholders."
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Arthur Andersen and the Enron Scandal, 2002.
Looks at the accounting firm, Arthur Andersen, and its involvement in the Enron scandal.
1,110 words (approx. 4.4 pages), 6 sources, MLA, AU$ 62.95
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Abstract
This paper addresses the question about whether accounting firms should act as consultants for the same companies that they audit. It uses the case of the accounting firm, Arthur Andersen, and its complicity in the Enron debacle to explore this question. The paper also addresses several larger issues on business and accounting ethics and looks at the need for reform in the accounting industry as a way of ensuring public confidence in the integrity of the accounting system.
From the Paper
"In late 2001, Arthur Andersen, one of the world's largest accounting firms, found itself plunged into what will likely be remembered as one of this generations greatest business scandals. The scandal involved Enron Corp., one of America's most successful corporations, and the darling of investors, employees, and market analysts alike. Enron was accused of a multitude of ethical breeches, including deliberately misleading shareholders about the company's true financial status. Ultimately, Enron was found guilty of a number of financial misdeeds, went bankrupt, and Anderson?s involvement in the scandal brought the ethics of accounting firms into question."
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Long-Term Capital Management, 2002.
Looks at the rise and demise of hedge funds.
1,934 words (approx. 7.7 pages), 7 sources, MLA, AU$ 99.95
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Abstract
This paper explains what long-term capital management, or hedge funds, are and how they operate. It gives the background information of long-term capital management (LTCM) and its distinguishing features. The paper continues with a discussion on the collapse of LTCM, including the causes and consequences. There is also a discussion on the future of LTCMs and hedge funds and a brief overview of the reforms needed to regulate hedge funds.
From the Paper
"Hedge funds are large unregulated private investment pools for wealthy institutions and investors. Hedge funds are not limited by the restrictions put on other types of investment vehicles with regard to their leverage and the composition of their portfolio. Hedge funds are allowed to take short positions in securities and are also allowed to concentrate their investments in a particular firm, industry or sector. The launch of Long-Term Capital Management (LTCM) represented one of the first hedge funds in operation and, unfortunately, the first fall out. Ultimately, the arrogance of LTCM?s management in believing that they could actually hedge away all the risk precipitated the fund?s demise."
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Economic Value Added, 2002.
This paper discusses the use of a new accounting theory, Economic Value Added, or EVA.
1,235 words (approx. 4.9 pages), 1 source, MLA, AU$ 68.95
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Abstract
This paper investigates Economic Value Added, or EVA, invented and promoted by Stern Stewart & Co. The author points out that this theory is aimed at eliminating the problems that accounting faces today by incorporating the concept of a ?true economic profit? into accounting and bookkeeping. The paper states that the EVA concept intends to align reported earnings, something which shareholders always take into consideration when investing in a company, with the actual capital that was loaned by the company.
Table of Contents
The Cost of Equity Capital
Operating vs. Financing Decisions
Pension Plan Accounting
Full Cost Accounting
Stock Options
From the Paper
"One of the errors that accountants usually makes and that leads to distorted reporting on a company?s earnings is the fact that equity capital is not taken into consideration as a cost. If debt is considered a cost and debt interest is noted as an expense, than why not see equity as a cost as well, seeing that it is not a free resource, but something invested by shareholders into the company and funds put into the company. As Bennett Stewart points out, ?the cost of equity is not a cash cost, it is an opportunity cost?. Indeed, it is the equivalent return that a shareholder would expect to earn by investing in other stocks from companies of comparable risk."
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Network Security, 2002.
Examines the need for a network security policy for an accounting company.
1,311 words (approx. 5.2 pages), 6 sources, MLA, AU$ 72.95
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Abstract
This paper addresses the importance of having a written and enforceable Computer Network Security Policy for 'The Financial Group', an accounting corporation. The paper shows that the company's accounting systems comprise three major elements: A web-based front-end server, a back-end database, and business-logic applications. OS-level console access is used for system administration. Accountants access the system with Web browsers using HTTP only and are authenticated via the HTTP basic authentication mechanism.
From the Paper
"Passwords are a critical element in protecting the company infrastructure. Remember, the security policy is only as good as the weakest link. If users have weak passwords then the company is at a higher risk for compromise not only by external threats, but also from insiders. If a password is compromised through social engineering or password cracking techniques, an intruder now has access to the company?s resources. The result is the loss of confidentiality and possibly the integrity of the company?s data as well."
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Accounting, 2002.
Compares the cash versus the accrual basis of accounting.
836 words (approx. 3.3 pages), 2 sources, MLA, AU$ 47.95
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Abstract
This paper defines and compares two concepts in accounting - the cash basis and the accrual basis. It shows that the cash basis of accounting is more likely to be used by service businesses than by retail or manufacturing businesses. The paper also provides an example in table form to show the differences between the two systems.
From the Paper
"In short, under the cash method, a business reports income when it is received and reports expenses when cash is disbursed. Under the accrual method, a business reports income when the business has the right to receive the income and reports expenses when all events, which create the liability, have occurred and the amount of the expense is reasonably determinable."
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Accountants, 2002.
Discusses the importance of professionalism in accountants.
1,448 words (approx. 5.8 pages), 11 sources, MLA, AU$ 78.95
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Abstract
This paper examines the importance of education in the role of training accountants for their profession. It looks at professional standards, requirements and practices and explores what educational paths must be taken to become an accountant. The paper shows why accountants are not just glorified bookkeepers, but actually require a deeper and more intense professional training background to do their jobs.
From the Paper
"Accountants must be trained to be able to arrive at an all-inclusive view of the financial and the legal issues of a business, foreseeing the effect of every sort of transaction on the profit-and-loss statement of a business. Additionally, an accountant needs to be able to recognize and classify all additional factors that could determine the true condition of a business, such as statistics or memos relating to production issues, property and financial records, expenditures, receipts, fiscal changes, and present standing within the business community. (Henning and Torbin ) In a branch of accounting called, ?cost accounting,? the actual cost, over a certain period of time, of particular services rendered or of articles produced. By using the cost accounting system unprofitable ventures, services, departments, and methods may be discovered."
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