...ACCOUNTING AND THE GERMAN CULTURE March 18, 2009 TABLE OF CONTENTS INTRODUCTION 1 REVIEW OF LITERATURE 1 ANALYSIS 2 CONCLUSIONS AND RECOMMENDATIONS 7 LIST OF REFERENCES 8 INTRODUCTION Grenzplankostenrechnung (GPK) is a German-based costing methodology that was developed in the late 1940's and 1950's. GPK is credited to an automotive engineer, Hans George Plaut, and an academic, Wolfgang Kilger. They worked together to identify and deliver a comprehensive methodology to give exact and improve cost accounting information. It is designed to provide a consistent and accurate application of managerial costs that are calculated and assigned to a product or service (Cooper and Kaplan, 1998). GPK has been the staple accounting method used in German-speaking countries for many years now. Is it actually better than the United States traditional accounting management style? REVIEW OF LITERATURE GPKs definition by United States standards is flexible margin costing system. Flexible margin costing, or GPK, is a cost accounting system used by many companies in German-speaking countries and is taught at German universities. It has proven it validity through its ability to give accurate, quick information about companies' financial position. GPK uses marginal costing instead of full costing. It helps to make short-term decision that lead to long-term plans for the organization. They form cost centers instead of activities and processes (Adkins, 2006). ...
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...Pasadena City College Syllabus - MANAGERIAL ACCOUNTING - ACCT 001B Fall 2015 – 70008 (Revised) Date: Time: Location: September 1 – December 15, 2015 Tuesdays/Thursdays; 7:00am – 9:30am R 307, Building R Instructor: E-mail: Phone: Chee-Sum Tan, MBA, CPA, CFA, ABV, CGMA ctan8@pasadena.edu 626-524-1674 Required Material: Textbook: Accounting: Tools for Business Decision Making (5th Edition); Kimmel, Weygandt, Kieso, Wiley Publishing (WITH “WILEYPLUS”). WILEYPLUS IS REQUIRED Calculator: Basic calculator Supplies: Pen, pencil, 3 scantrons Learning Objective: This course is designed to provide an understanding of managerial accounting information useful to managers responsible for conducting business operations and decision making. Upon the successful completion of this course, students must be able to measure, analyze and report managerial accounting information for the purpose of planning, budgeting and control. Students are also required to have a solid understanding and working knowledge of the concepts and principles of managerial accounting. Learn operational processes like job order costing, process costing and activity-based costing concept Perform cost-volume-profit analysis, relevant costing, capital budgeting for profitability and decision making Understand performance reports and budgets for planning and control purposes Demonstrate mastery of managerial accounting concepts and principles through satisfactorily completing assigned...
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...Qualifications Over nine years of experience in business accounting and financial services. My experience includes business consulting services (i.e., internal controls and process documentation, diagnostic review of company departments, budget developments), forensic accounting services (i.e., business interruption, business personal property and employee dishonesty assessments) and litigation support services (i.e., assess and measure economic losses due to breach of contract, malpractice, and negligence events), as well as audit engagements, including internal audit co-sourcing, and SAS 70 audits. I also participated in numerous business accounting services engagements, including restructuring of accounting departments, as well as accounting assistance during monthly closing (i.e., oversee general accounting functions, including AR/AP, variances analysis, and account reconciliation of a client in the manufacturing industry). Strengths include general ledger, financial statements, financial analysis, budgeting, cash management, and internal and external reporting. Compute skills include proficiency in Excel, Peachtree, QuickBooks, Oracle and MS Office. Professional Experience Rodríguez & Luis, C.P.A., P.S.C., (“R&L”)Old San Juan, P.R. As employee of R&L, I have being promoted in four (4) times since August 2002. Currently, I possess a manager position in R&L. Position that require from me to maintain expertise in current professional practice, have knowledge of...
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...CAMPUS, KARACHI FINAL BBA Time Table -- Fall 2012 Day Stage Day/Time 8:30 AM- 10:00AM English-I (R-9) Statistical Infrence (R-18) Time 10:00 AM-11:30 AM 11:30 AM- 1:00 PM1:00 PM- 2:30 PM 2:30 PM -4:00 PM Business Math-I (R-9) Fundamental of Management (R-18) Fin. Management (R-16) Strategic Management (R-16) Final Year Project-II (R-18) International Business (R-16) Sociology (R-9) Mkt. Management (R-18) BC-I(R-7) HRM (R-16) Stage-1 Mon Stage-3 Stage-5 Stage-7 Project Management (R-7) Stage-8 Day/Time 8:30 AM- 10:00AM BC-I (R-18) 10:00 AM-11:30 AM English-I (R-9) 11:30 AM- 1:00 PM1:00 PM- 2:30 PM 2:30 PM -4:00 PM Fundamental of Acc. (R-9) Mkt. Management (R-18) Mang. Accounting (R-18) FSA (R-16)/Advertising (R-7) Tue Stage-1 Stage-3 Stage-5 HRM (R-16) Stage-7 Economy of Pakistan (R-7) Stage-8 Day/Time HR & Leadership (R-16) FSA (R-16)/Advertising (R-7) istory of Pakistan (R-9) H / Final Year Project-1(R9) FSA (R-16)/Advertising (R-7) 8:30 AM- 10:00AM Islamic Studies (R-9) 10:00 AM-11:30 AM 11:30 AM- 1:00 PM1:00 PM- 2:30 PM 2:30 PM -4:00 PM Sociology (R-9) Wed Stage-1 Stage-3 Stage-5 Oper. Management (R-16) IMC (R-16)/ HR & Leadership (R-18) SeminaR Consumer Behavior (R-16) Stage-7 Stage-8 History of Pakistan (R-7) IMC (R-16)/ HR & Leadership (R-18) Oper. Management (R-7) IMC (R-16)/ HR & Leadership (R-18) roject Management (RP 16) Day/Time 8:30 AM- 10:00AM Statistical Infrence (R-18) 10:00...
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...stiff penalties levied on management and others. Section 404 of the SOX act outlines management responsibilities on the annual report. Suggest an alternative to regulation for providing accurate financial information to stakeholders. Large corporations are covered by the SOX act. For small companies, it is difficult to follow the SOX act. If congress can add an amendment for small businesses, it would help small businesses comply with the standards of the SOX act. Schroeder, R., Clark, M., & Cathey, J. (2011). Financial accounting theory and analysis: Text and cases.(10th ed.). Hoboken, NJ: John Wiley & Sons. U.S. Securities and Exchange Commission. (2008). Final Rule: Management’s Report on Internal Control Over Financial Reporting and Certification of Disclosure in Exchange Act Periodic Reports. Background. Retreived on September 6, 2012 from http://www.sec.gov/rules/final/33-8238.htm "Ethical Responsibilities" Please respond to the following: * Create a scenario of accounting behavior that may be legal but not ethical. Explain your rationale. An individual main...
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...of fixed assets and cost determination, and preparing consolidated financial statements. Other topics include the professional responsibilities of CPAs, deferred taxes, cash flow statements, balance sheet preparation, restructuring of troubled debt, and the intricacies of comprehensive income. Week 1 - Topic 1: Reporting Issues Objectives Differentiate among the services provided by auditors. Explain procedures for reporting accounting changes and error corrections. Describe the professional responsibilities of accountants in financial reporting. Compare and contrast the forms of business structure. Explain the methodology used to determine deferred taxes. Materials SUPPLEMENT: Week One Content Outline SUPPLEMENT: Week One Mind Map SUPPLEMENT: Week One Student Road Map SUPPLEMENT: Sample Final Exam EBOOK COLLECTION: Auditing and Assurance Services, Ch. 1 EBOOK COLLECTION: Intermediate Accounting, Ch. 19 EBOOK COLLECTION: Intermediate Accounting, Ch. 22 EBOOK COLLECTION: Advanced Accounting, Ch. 7 EBOOK COLLECTION: Financial Accounting Theory and Analysis, Ch. 17 Assessment Individual Assignment: CPA Report As the CPA for a large organization, your manager has asked you to provide information to outside CPAs who are examining a subsidiary that has been set up as a corporation. As part of their review, the CPAs have asked you to provide them with the following explanations: The methodology used to determine deferred taxes The...
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...Table of Contents Introduction: 2 P1.1: Accounting in tourism or hospitality organization. 3 P1.2: Difference between financial and management accounting 3 P1.3: Difference between a sole trader, a partnership and a limited company 4 P1.5: Use of financial software in Tourism and Hospitality business 5 P1.6: Impact of changes in IT and internet on hotels and airlines 6 P2.1: Double-entry book-keeping 6 P2.2: Calculattion and account for VAT on purchases and Sales 7 P2.3: Cash receipts, cash payments and bank reconciliation 8 P3.1: How a trial balance is constructed 8 P3.2: Trial balance along with adjustments used to prepare fianl accounts 9 P4.1: Sources of finance available to a business 9 P4.2: Reasons and the process of budgetary control 10 P4.3: How to prepare a simple cash budget 11 Conclusion: 12 References…………………………………………………………………………………………………………………………………………….13 Introduction: Business organizations face intense competition in today’s global business world. Tourism and hospitality are very large industry. A lot business organization is competing for their success in tourism and hospitality industry. The success of business organizations depends mostly on managerial decision making. However managers cannot make proper decisions if there is no information available. Financial information is the most important information for all kinds of business organizations. Without proper...
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...Source: The Accounting Review, Vol. 67, No. 3 (Jul., 1992), pp. 527-545 Published by: American Accounting Association Stable URL: http://www.jstor.org/stable/247976 Accessed: 13/12/2008 09:19 Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at http://www.jstor.org/action/showPublisher?publisherCode=aaasoc. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission. JSTOR is a not-for-profit organization founded in 1995 to build trusted digital archives for scholarship. We work with the scholarly community to preserve their work and the materials they rely upon, and to build a common research platform that promotes the discovery and use of these resources. For more information about JSTOR, please contact support@jstor.org. American Accounting Association is collaborating with JSTOR to digitize, preserve and extend access to The Accounting Review. http://www.jstor.org THE ACCOUNTING REVIEW...
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...UNIVERSITI UTARA MALAYSIA __________________________________________________________________________ COURSE CODE: BKAS2013 COURSE NAME: ACCOUNTING INFORMATION SYSTEMS PREREQUISITE: BKAS1013 IT IN ACCOUNTING AND BKAF1023 INTRODUCTION TO FINANCIAL ACCOUNTING __________________________________________________________________________ 1. SYNOPSIS This course introduces students to the important concepts of Accounting Information Systems (AIS). The course contents are divided into three main sections. The first section introduces the basic concepts of AIS including its objectives, components, and subsystems. The concept of E-business as an emerging trend of conducting business in the new era of information technology (IT) is also covered in this section. The second section discusses in depth the common features of transaction processing systems such as revenue and accounts receivable, purchase and accounts payable, manufacturing and inventory, human resource as well as general ledger and reporting system. Integration of selected accounting software will also take place at this stage to enable students apply the AIS concepts into practice. This section also introduces students to the techniques of documenting accounting systems and database modeling tools. The final section discusses the emerging issues in computer crimes, computer ethics and concept of internal controls in organization. Application of internal...
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...ACCOUNTING 320B INTERMEDIATE ACCOUNTING II SYLLABUS - Fall 2014 Instructor: Dr. N.J. Kim, CPA Office: ST 612 Office Hours: TR 8:35 – 9:40 am & R 4:00 – 6:00 pm Phone: (323) 343-2840 Email: nkim2@calstatela.edu Instructional Web site: http://instructional1.calstatela.edu/nkim2/ Connect URL: http://connect.mcgraw-hill.com/class/sec-3 Textbook: Intermediate Accounting, 7th Edition, Spiceland, Sepe and Nelson, McGraw-Hill, ISBN-9780078025327 (Hard copy, Volume II, or e-book with CONNECT available) Course Objectives and Description: Intermediate Accounting is designed to acquaint the student with current accounting theories and practices. In this second part of intermediate accounting, we will learn accounting for fixed assets, intangibles, long-term liabilities, investments, and stockholders’ equity. Statement of cash flows and accounting issues related with accounting changes and error correction are also covered in this class. Prerequisite: ACCT 320A or equivalent with a grade C or better Grading: Points are distributed as follows. Accounting majors must earn a grade of “C” or better in each accounting class taken to graduate. Midterms 100 250-300 A Final 130 210-249 B Participation & Attendance 10 180-209 C Comprehensive test 20 150-179 D Homework 40 Below 150 F Total 300 points A modified curve may be applied at the end of the quarter if necessary. Withdrawal...
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...Sy Syms School of Business Department of Accountancy Dr. Michael Palley Spring 2012 mpalley@baruch.cuny.edu ACC 6625 - Accounting Information Systems This course introduces the concept of computer information systems in accounting. The course has a “two-pronged” approach. First, we examine the functions, procedures, control risks, and audit controls related to the general accounting cycles (general ledger, A/R, A/P, etc.). Secondly, the accounting cycles are related to computer information technologies. Contemporary and emerging information technologies are described. These technologies’ implications to accountancy are examined. Required Materials: • Turner & Weickgenannt. Accounting Information Systems: Controls and Processes – Wiley, 2009. [“Turner”] Schedule (tentative) Jan 25 Course Introduction Environment and Components of an AIS Introduction to Computer Technology Costs and Benefits of Computerization Documentation of Information Systems Flowcharting / Dataflow Diagrams Data Dictionary / Practice Drawing DFDs / The Systems Study / Computer System Alternatives Feasibility Study - Cost Benefit Analysis General Ledger Cycle / Revenue Cycle Expenditure Cycle / Resource Management Cycle IT Analysis Case Study – submission due date Midterm Examination (half of session) Deficiencies of 3GL (COBOL) architectures. Reading (Turner) 1 Feb 1 2 Feb 8 3 Feb 15 Feb 22 Feb 29 Mar 14 12 8 9&10 Mar 21 ACC 6625 - Palley – Spring 2012 Schedule...
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...6 Evidence of earnings management for bonus purpose…………………….................7 Other motivations for earnings management……………………………………........8 The good and bad side of earnings management……………………………..............9 Conclusions…………………………………………………………..........................10 Reference………………………………......................................................................12 1. Concept of earnings management Since the 80s of 20th century, earnings management became a hot research subject in the international economics and accounting educational circles, the financial reporting and a contracting perspective can be viewed related to this hot subject. An accurate understanding of earnings management is very important to accountants, because it related to the understanding the usefulness of net income which will be reported to the investors. American accounting scholars Scott believe that “earnings management is the choice by a manager of accounting policies so as to achieve specific objectives”. Based on the different discussion, a definition of literature described from Healy and Wahlen is that “Earnings management occurs when managers use judgment in financial reporting and in structuring...
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...35-50 (1417 A.H./1997 A.D.) Student Perceptions of the Causes of Low Performance in Principles of Accounting: A Case Study in Saudi Arabia SULAYMAN H. ATIEH (*) Associate Professor of Accounting Department of Accounting and Management Information Systems College of Industrial Management King Fahd University of Petroleum and Minerals Dhahran, Saudi Arabia ABSTRACT. Students at KFUPM in Saudi Arabia were surveyed to determine what they consider to be the major obstacles to successfully completing the two required courses in Principles of Accounting. The students were categorized as either accounting majors or non-accounting majors and were offered 26 potential obstacles plus one open-ended question. The study showed that the most significant obstacle was the negative attitude of students towards accounting as a difficult subject. Differences in responses of the two student groups occurred for only three of the listed obstacles, none of which were considered significant by either group. There was no correlation between the GPAs of the respondents and their views on the 26 obstacles. A comparison of the findings of this study and those of previous research is also discussed. All students in the College of Industrial Management (CIM) at King Fahd University of Petroleum and Minerals (KFUPM) in Saudi Arabia are required to take two courses in Principles of Accounting. The courses are designated as Acct 201 and Acct 202 and they are taught during the somophere year...
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...Finance in the Hospitality Industry TASK 1: Sources of Finance and costs Sources of funds are very important to decide management decisions as well as long term strategies of any organisation. As per the Sharan (2005, pp. 210-218) following funding methods should be noted. Retain Profits. Increasing the revenue and reducing the cost this can be increased in a systematic manner. Bank Loans. It is advisable to go for a loan under lower interest rate. Because if the loan interest rate is higher than the company's return on investment, then it will cause liquidity problems in the future. Bank Overdraft facility This is subject to higher interest rate and recommended only for a limited time period. Issuing share to the public Ordinary shares less cost to the organisation but more power has been given to them. But preference share has less controls over the company but subject to a higher cost to the organisation since they have to pay pre-determined dividends on time. Franchise option. This is recommended to expand the business chain with an association with medium scale merchants to promote company's products and goodwill. Hire purchase schemes This also important to manage the cash flow situations of the organisation without investing higher capital for equipment’s & plants. Lease Schemes This also important if the company have not greater funds to invest for their assets. But this is subject to higher interest cost. Credit purchases This is important...
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... Abstract In the accounting industry there are different organizations that have been established to design, implement, and oversee accounting standards and financial presentation processes. Such organizations include the Securities Exchange Commission, SEC, the Financial Accounting Standards Board, FASB, the International Accounting Standards Board, IASB, and the Governmental Accounting Standards Board, GASB. Each of these organizations works closely with the others to attempt to provide the accounting industry with a similar, if not identical, set of accounting standards that align with those of the U.S. GAAP – Generally Accepted Accounting Principles and IFRS – International Financial Reporting Standards. The strengths and weaknesses of these organizations identify their similarities and differences and enable the organizations to continue to grow with the finance and accounting industries. In the accounting industry there are several different organizations specifically designed to set, maintain, and regulate accounting standards and financial statement presentation. Among these organizations are the U.S. Securities and Exchange Commission, or SEC, the Financial Accounting Standards Board, or FASB, the International Accounting Standards Board, or IASB, and the Governmental Accounting Standards Board, or GASB. Each organization was established to carry out specific purposes, and handles the accounting standard setting and financial...
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