Accounting is crucial in today's corporate environment as it offers vital financial data for decision-making, financial reporting, and assuring regulatory compliance. It serves as the official language of business, making it easier to share financial data with all parties involved, including investors, creditors, and management. When assessing an organization's financial performance and health, the accuracy and dependability of accounting data are crucial.
This assignment aims to investigate current accounting challenges and how they affect businesses. This task will cover several important subjects. It will first describe how ...
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CONCEPT OF INCOME FOR INCOME TAX PURPOSES AND THE DISTINCTION OF INCOME/CAPITAL
The term “income” cannot have an exhaustive definition as because the list for the anything to be considered as income is very long and never ending. It further depends on the evaluation and analysis of the person who is earning the same and also of the person who imposes tax on the income earned by the personnel. The “income” is said to be all the amounts in terms of cash, gift and kind which is being received by one person from the other person as because of the ser...
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Executive summary. 3
About ABC Learning, HIH Insurance and One Tel Telecom.. 4
List of events that are responsible for the liquidation of these companies. 5
ABC Learning. 5
HIH Insurance. 6
One.Tel Telecom Company. 7
The role of governance and ethics in decreasing the financial stress of the company. 7
The liabilities as a major factor for the liquidation of the companies. 8
In this following assignment, we are going to discuss about three companies who faced the problem of liquidation in past few years. These companies went into liquidation as t...
Answer No. 1
The collapse of Enron Corp. was unexpected and sudden. It was the first in a sequence of many crucial accounting scandals in the corporate world that had shaken the stock market. In December 2001, only a few months prior to their filing of bankruptcy, Enron was regarded as one of the fastest growing corporate houses in the USA. Their annual revenues grew substantially from around $10 billion in the 1990s to $139 billion in 2001. This rise in revenue had put them in the fifth position in the Fortune 500 list. Enron’s main operations in the energy division were doing alright but the problem arose due to their investment in t...
For current assignment, we have selected ‘Ramsay Health care Limited’. The organization is in healthcare industry and is in business from past 50 years. We will look into the core business activity of the company along with industry analysis. We will also look the sources of funds in the business.
Detailed analysis will be made for the subsequent event and change in accounting policy:
Ramsay Health care limited (RHCL) is in healthcare industry. The company is operating in 11 countries with their headquarters in Australia. The company is specialized in acute healthcare. However, currently providing both the acute and p...
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Answer No. 1. 4
Answer No. 2. 5
Answer No. 3. 6
Answer No. 4. 7
Answer No. 1
The collapse of Enron Corp. was unexpected and sudden. It was the first in a sequence of many crucial accounting scandals in the corporate world that had shaken the stock market. In December 2001, only a few months prior to their filing of bankruptcy, Enron was regarded as one of the fastest growing corporate houses in the USA. Their annual revenues grew substantially from around $10 billion in the 1990s to $139 billion in 2001.
This rise in revenue had put them in the fifth position in the Fortune 500 list. Enron’s ...
The individual assignment, highlight the various method to accounting of investments in associated business entities, basically the initial past of this business report states about two methods of investments such as equity method and second one is consolidated accounting. While second part of this project report is about the inter group transection and computation of profit for non-controlling interest groups. As such second and third part of this project report is interconnected to each other and states the same things related to inter group transection and earning for non-controlling interest groups. This project report ...
Assignment on history of accounting and ethical principles and ethical dilemmas
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Q. 1 History of Accounting. 4
Q. 2 (1) Ethical Principles issued by APESB for the Accountants through the mutual ethics codes of CAANZ and CPAA: 5
(2) Identify Ethical Dilemma in this case and ways to resolve it: 6
This study is undertaken to explain the history of accounting that is mostly related to the Pacioli known as father of bookkeeping. Accounting history is about old and modern accounting such as double entry system, bookkeeping, financial accounting, management accounting...