...2- Measurement Theory Definition Measurement is being defined by many researchers. According to Campbell it is the assignment of numerals to represent properties of material systems other than numbers. A similar definition was given by Stevens who states measurement as the assignment of numerals to objects or events according to rules. Whatever the definitions given by all the researchers, they all bring about to the same meaning and understanding. Based on my understanding, measurement is the process of observing, recording and calculating the observations that are collected as part of a research effort which is usually represented by units. These units possess values and are often numerical. Importance Everyone uses measurement without even noticing it sometimes. In studying measurement theory, I realised that measurement involve in many of our daily activities without us even noticing it sometimes. Some examples include measuring our heights and weights, measuring the nearest and shortest distance to get to class, measuring the time taken to complete an assignment and many more. Therefore, it can be said that measurement theory is definitely important and useful for everyone. Understanding the importance of measurement theory is crucial to address issues in business, accounting, social and economics. Importance of measurement in Accounting Why is measurement theory important? Well, it is important for three simple reasons. It is important to make decisions, assess performance...
Words: 1075 - Pages: 5
...usefulness of accounting theory is evident at various levels within the accounting profession and society in general including, standard setters, accounting professionals and users of accounting information. This essay will address two key areas, firstly, a personal reflection on this course and why studying theory is essential for practicing accountants. The second part is a critical evaluation of the conceptual framework and why it is an essential part of accounting literature. Areas evaluated include the purpose and benefits of a conceptual framework, a brief history of it in Australia, principle based versus rules based standards and some criticisms of it are discussed. Personal reflection I must admit, when scrolling through the list of courses I have left to complete my degree Accounting Theory did not jump out as one I was eager to enrol in. This is in no small part due to my lack of appreciation of how knowledge of the development of theory can give context and power to understanding changes. Whereas before I was more about practice and ‘getting it done’, it has become apparent that theory generally is an intrinsic element in advancing our understanding of our environment, culminating in improvements in practice. It is not a means of simply explaining or predicting behaviour, nor is it there only to serve as a framework for further inquiry (although these are important benefits of theory). Theory has a much more significant and elegant role to play in accounting than simply...
Words: 3910 - Pages: 16
...Cost Accounting : An Introduction MODULE - 6B Elementary Cost Accounting 27 COST ACCOUNTING : AN INTRODUCTION After passing your senior secondary examination, if you set up a small manufacturing unit, say manufacturing of packing boxes, a problem will arise what price of each box you should quote to the buyer. Many factors are considered while fixing the price of a product/item such as competitors’ price etc. One of the basic factors is the cost of its production. Cost is essential not only to fix price but also to ascertain the margin of profit. Knowledge of the cost determination is also necessary to keep a check on the cost of product/control on wastages, etc. The accounting used to study the various aspects of cost is known as cost accounting. In this lesson, you will learn about meaning, importance, limitations etc. of cost accounting. Notes OBJECTIVES After studying this lesson, you will be able to: state the meaning and scope of cost accounting; explain the objectives of cost accounting; differentiate between cost accounting and financial accounting; state importance of cost accounting; explain limitations of cost accounting. 27.1 MEANING AND SCOPE OF COST ACCOUNTING Cost accounting is the process of determining and accumulating the cost of product or activity. It is a process of accounting for the incurrence and the control of cost. It also covers classification, analysis, and interpretation of cost. In other words, it is a system of accounting, which provides...
Words: 2802 - Pages: 12
...- 6B Elementary Cost Accounting Notes 95 Cost Accounting : An Introduction ACCOUNTANCY After passing your senior secondary examination, if you set up a small manufacturing unit, say manufacturing of packing boxes, a problem will arise what price of each box you should quote to the buyer. Many factors are considered while fixing the price of a product/item such as competitors’ price etc. One of the basic factors is the cost of its production. Cost is essential not only to fix price but also to ascertain the margin of profit. Knowledge of the cost determination is also necessary to keep a check on the cost of product/control on wastages, etc. The accounting used to study the various aspects of cost is known as cost accounting. In this lesson, you will learn about meaning, importance, limitations etc. of cost accounting. OBJECTIVES After studying this lesson, you will be able to: state the meaning and scope of cost accounting; explain the objectives of cost accounting; differentiate between cost accounting and financial accounting; state importance of cost accounting; explain limitations of cost accounting. 27.1 MEANING AND SCOPE OF COST ACCOUNTING Cost accounting is the process of determining and accumulating the cost of product or activity. It is a process of accounting for the incurrence and the control of cost. It also covers classification, analysis, and interpretation of cost. In other words, it is a system of accounting, which provides the ...
Words: 2801 - Pages: 12
...The pressure to succeed in classroom performance by having noble grades, cramming for doing homework, staying up late for an upcoming examination, and hanging out with friends can be overwhelming. Thus, the researchers will conduct a study entitled “A Study on the Social Adjustments of Class A3B of De La Salle Lipa S.Y. 2015-2016”. It will support to understand the importance of having social life while in college and provide information on ways how to adjust socially if a student has low level of social life. In relation, the ability of a student to socially adjust is essential to be flexible in life. Vincent Tinto, a renowned theorist in higher education, formulated a theory regarding the withdrawal of students in college. This theory focuses on how the lack of socialization of a student may influence or may trigger their withdrawal in college. According to Tinto (2010), an institution must not rely on determining the goals and commitment of students to establish retention policy, but should also discern their own goals and commitment. Hence, he also said that “there are three (3) major causes of student withdrawal according to his study. Academic difficulties, the inability of individuals to resolve their educational and occupational goals, and their failure to become or remain incorporated...
Words: 1870 - Pages: 8
...Accounting, Organizations and Society 28 (2003) 127–168 www.elsevier.com/locate/aos Management control systems design within its organizational context: findings from contingency-based research and directions for the future Robert H. Chenhall Department of Accounting and Finance, Monash University, Clayton, Victoria 3168, Australia Abstract Contingency-based research has a long tradition in the study of management control systems (MCS). Researchers have attempted to explain the effectiveness of MCS by examining designs that best suit the nature of the environment, technology, size, structure, strategy and national culture. In recent years, contingency-based research has maintained its popularity with studies including these variables but redefining them in contemporary terms. This paper provides a critical review of findings from contingency-based studies over the past 20 years, deriving a series of propositions relating MCS to organizational context. The paper examines issues related to the purpose of MCS, the elements of MCS, the meaning and measurement of contextual variables, and issues concerning theory development. A final section considers the possibility that contingency-based ideas could encompass insights from a variety of theories to help understand MCS within its organizational context. # 2002 Elsevier Science Ltd. All rights reserved. 1. Introduction The three purposes of this paper are to provide a review of empirical, contingency-based research as it has developed...
Words: 26957 - Pages: 108
...Factors Affecting Students’ Choice of Bachelor of Science in Accountancy as Major Charlotte Jhiza A. Beleno Adamson University Abstract The need for accounting graduates continually grows in this decade. The US Bureau of Statistics projected that there will be a 15.7% increase in the number of accounting jobs between 2010 and 2020. This increase in demand gives the importance to study and understand the factors that motivate and encourage students to take up Bachelor of Science in Accountancy as their college course, so that quality graduates will meet the demand in the field of accounting profession. This paper also helps high school teachers, parents and guidance counselors on how they can influence students to take up BS Accountancy in their tertiary level. On the other hand, it also informs the students on the advantages of being accountancy major and an accountant in the future. Factors Affecting Students’ Choice of Bachelor of Science in Accountancy as Major A Review of Related Literature and Studies Accounting as defined by Webster is the system of recording and summarizing business and financial transactions and analyzing, verifying and reporting the results. On the other hand, Accountancy is the profession or practice of accounting. Bachelor of Science in Accountancy prepares students for careers in accounting firms, financial institutions, public sectors, and financial departments of companies. It is an in demand course since there is an upward trend and opportunities...
Words: 2643 - Pages: 11
...career opportunities its suit all interests such as; auditing work, management consulting, corporate finance, IT consulting, tax planning, human resources and insolvency. As a person who likes to be in charge, have responsibility and be accountable, I see myself in the future as potentially running my own business or being in a management role. After studying accountancy for the first time at college, I discovered that it was the language of business, primarily because its sole purpose was to communicate information to decision makers. As I want to be a future business decision maker, I have decided that this is the subject I need to learn, as it will show me how to get valuable information, teach me what it means and also train me in how to use it to make better decisions. At some stage, all organizations have to present their performance in the form of financial statements. Accounting and finance professionals have to present and interpret such statements to verify and monitor the health of the company behind them. It is this particular aspect that has always appealed to me, I am keen to learn about the financial and accounting decisions that businesses and organizations need to make to be profitable and survive. Another major reason that attracts me to this course is that it is the first step towards possibly running my own business in the future. I have always wanted to be my own boss, and after graduating, and then working in the industry I eventually want to be able to...
Words: 617 - Pages: 3
...answers after elaborating an accounting phenomenon. In the beginning, I would seek for suitable answers quickly, but in many instances, I cannot provide satisfactory answers in that it was beyond my comprehension at that time. Then, my mother, a senior auditor, expounded it clearly with in-depth accounting expertise. It can be said without exaggeration that mother is my idol. Through case-based learning, I got a general understanding of accounting and came to apprehend accounting plays indispensable and significant roles in corporations’ development. Offering actual accounting statements with effective verification systems could cut down corporations’ expenditures and prevent deceptive accounting behaviors in accounting market. Under such osmosis, I gradually cultivated basic perceptions of accounting and triggered me to dig more in accounting. In undergraduate period, I decisively concentrated on accounting to elevate professional qualities via taking accounting courses. Principles of Accounting familiarized me with accounting rules, accounting cycles and financial accounting reports, which made me realize accounting serves as another magical language to analyze corporations from unique perspectives. Furthermore, Management Accounting afforded me a superb access to managerial strategies in authentic business world. And veritable case studies consolidated my understanding of accounting theory. Cases of QC crushing defeat illustrated the crucial importance of practical and scientific...
Words: 614 - Pages: 3
...BUSINESS IDEA 2 CREATING DESIGN 3 ERD 3 Main Business Process 6 BIS ETHICAL ISSUES 8 CRITICAL REFLECTION 9 Limitations And Future Developments 9 Reflection In The Context of INFS 1000 10 BIBLIOGRAPHY 11 BUSINESS IDEA It is widely acknowledged that undertaking work experience in the accounting industry whilst studying gives students a “leading edge” above their peers, thus improving their employability. Student Job Allocation Services (“SJAS”) does this by matching accounting students from universities around Sydney who have a credit average with well-respected firms for relevant work experience on a part-time basis. The students receive a scholarship which covers university fees and does not interfere with international students’ visa restrictions. Upon graduation, the employer will offer them a full-time contract. SJAS has a competitive advantage in the marketplace by focusing on service differentiation for a niche market, catering for accounting students only. Our main rivals include; newspaper and internet classifieds, UNSW/UTS Co-op Scholarships and Sydney Talent. Unlike these services, SJAS only selects high achieving students from accounting majors, rather than straight from high school or any student applying for a job. Employers will prefer the SJAS program as the student stays with the company for at least one year rather than rotating to a number of different firms. This encourages an increase in training for the students and complements...
Words: 2072 - Pages: 9
...attention to it for the better. Some of the Current systems in PLP that receives numerous complaints from students in different colleges are the Manual Enrollment System and the Insufficiency and out datedness of the books in the library especially accounting books. They complain about the inaccuracy, delays, inadequateness and inefficiency of these. As a student in PLP, we are eager to help and contribute in the progressiveness and prosperity of our University. That is the reason why we formulated recommendations through the help of PLP students for the improvement and betterment of our university. These recommendations are the implementation of Online Enrollment System which was being favored by most of the students in PLP; The Making of PLP Official Website which has a vital role because it is the main source of information about our university ; Implementation of Public Address System which involve installation of speakers along the corridors and in each classroom that are used in announcing important events and for emergency purposes; Online Accounting Library for those students that is having difficulties in understanding the principles of accounting; Additional and updated accounting books in the library because accounting principles are dynamic specifically taxation which are being revised yearly. And last we also recommend additional language subject in learning mandarin for all the CBA students because there are many advantages once you have learned Chinese mandarin...
Words: 4859 - Pages: 20
...FIRST SEMESTER Course : 1: Principles of Management Introduction: - Concept of Management, Scope, Functions and Principles of Management, Evolution of Management thought. 2. Planning: - The Process of Planning, Objectives, Policy and Procedures, Forecasting and Decision Making. 3. Organizing: - Meaning, Importance and Principles, Span of Management, Centralization and Decentralization, Patterns of Organization, Line and Staff Relationships. 4. Staffing: - Nature & Scope of Staffing, Manpower Planning, Selection & Training, Performance Appraisal. 5. Controlling: - Concept or Managerial Control, Control aids, Score Responsibilities of Managers. Books Recommended: by Paul Hersey & Ken Blanchard 1. Management & Organizations Behaviour 2. Essentials of Management by Koontz & O Donald 3. Principal and Practice of Management by L.M. Prasad 4. Human Behavior at Work by Kaith Devis 5. Organizational Behavior by Robbins 1. Course : 2: Business Organization Introduction: - Nature & Scope of Business System, Objectives of Business and Social Responsibilities of Business 2. Organizing a Business: - Forms of Ownership Organization Sole Proprietor, Partnership, Private & Public Ltd. Companies, Choice of suitable form of Business Organization. Public Sector: - Central Government, Public Corporation, Local Government, Organization 3. neither Public nor Private Sector, Clubs & Society, Cooperative Societies, Worker s Cooperatives, Building Societies. 4. Elements of Insurance: - Meaning and...
Words: 3854 - Pages: 16
...As a young student, I attended a school that was a considerable distance from my parents. As such, I rarely got to spend time with them. Studying abroad has caused the physical distance between us to grow. I made the choice to pursue my studies abroad, though, because I recognized that the competitive education I would receive in the U.S. would, eventually, enable me secure a job near my parents. One of my personal goals is to make up for lost time with my parents, as family is important to me. I’ve spent my academic career working toward this end, and pursuing an MSA is in line with this goal. My undergraduate studies at IU’s Kelley School of Business have exposed me to valuable financial concepts and theories. The Integrated Core of Kelley’s curriculum consists of four fundamental classes: Finance, Marketing, Operations Management, and Strategic Management. This has enhanced my knowledge regarding each of these business components, and it has provided me with a strong foundation upon which to build as I proceed with my education and career. Further, through Kelley’s Intermediate Accounting course, I’ve learned the time value of money, which is valuable knowledge that pertains to both accounting and finance, and it’s something that I’ll be able to apply to a variety of transactions and accounts such as those dealing with notes and pensions. Kelley has granted me a wealth of information that I can carry with me and which will enable me to make meaningful contributions in a graduate...
Words: 707 - Pages: 3
...Motivations for Chinese overseas graduates returning home The number of Chinese overseas students has been increasing at a dramatic rate, especially since the early 1990s. The “going abroad heat” has never slackened among mainland China’s young people. China is the world’s second largest economic entity and Chinese people are getting better off with the globalization and opening reform, thus studying abroad is no longer mysterious and unachievable for the average families in China. In contrast, the “return-to-China heat” wave has caused the “American Dream” to fade rapidly among young Chinese who are now casting their eyes towards their motherland. Kellogg(2012) concludes that surveys conducted in 2001 and 2005 of Chinese students enrolled at American universities showed that the intention to return home after graduation is indeed rising.(p.83-104) Chinese contemporary economics, especially social economics, is giving more and more attention to such factors as manpower and talent. Wang (2004) states that the New York Times estimates that this large-scale reflux of talent will be a major phenomenon in China in the next decade.(p.7-11) So, an analysis of the incentives for international graduates returning back to China reveals that the tangible benefits offered by the Chinese governmental policies as well as the intangible benefits in a form of psychological satisfaction are the two main aspects of the returnees’ motivation. China is becoming the largest...
Words: 2939 - Pages: 12
...Institutional Theory Part One Introduction of Institutional Theory What are institutions? The general understanding of institutions can be defined as a set of formal and informal rules of conduct, made by humans that facilitate coordination or govern relationships between individuals, organizations or government. Examples of institutions include laws, regulations, customs, social and professional norms, culture, and ethics. Selznick (1949) notes that "the most important thing about organizations is that, though they are tools, each nevertheless has a life of its own". While he acknowledges rational view that organizations are designed to attain goals, he notes that the formal structures can never conquer the non-rational dimensions of organizational behaviour. Individuals do not act purely based on their formal roles. Organizations do not act purely based on formal structures. Selznick notes that individuals bring other commitments to the organization that can restrict rational decision-making. Institutions exert a constraining influence over organizations, called isomorphism that forces organizations in the same population to resemble other organizations that face the same set of environmental conditions (Hawley, 1968). Then, the isomorphism was further discussed by DiMaggio and Powell (1983) where the analysis of institutions exert three types of isomorphic pressure on organizations: coercive, normative, and mimetic. Coercive isomorphism refers...
Words: 6106 - Pages: 25
