Accounting

The first version of the UK Code on Corporate Governance was produced in 1992 by the Cadbury Committee. The authoritative definition of Corporate Governance in the context of the Code: ‘Corporate administration is the system by which companies are directed and controlled. Boardss of managers are responsible for the administration of their companies. The stockholders […]

I have faced a number of knotty situations in life. On one occasion, I was working with the ADA or the American Diabetes Association. We worked as two groups and our principal task was to count and reconcile the checks, cash and credit card donations, which used to arrive in large quantities. One day an […]

The aftermath of hurricane Katrina and September 11th 2001 attack was misinformation about financial positions of companies and individuals and misappropriation of funds meant for disaster recovery. Insurance companies were forced to pay some compensation based on financial statements which were prepared from insufficient records. After the two disasters accounting regulating body set out on […]

LIFO, last-in-first-out and FIFO, first-in-first-out the two most common inventory accounting methods. The choice of the method of inventory accounting by a small business can directly impact its balance sheet, income statement, and statement of cash flows. Not only do companies have to track the number of items sold, but they have to track the […]

Nature of Accounting and the Accounting Standard Background Accounting is an important part for business and it is dubbed “language” of business activities conducted by firms. People think it is used to communicate business transactions per se to all stakeholders. However, some people argue that the functions of accounting are not that easy. Except the […]

Introduction BACKGROUND OF ASDA ASDA stores limited was founded as Associated Dairies and Farms Limited in 1949 and it is basically an abbreviation of Asquith and Dairies (ASDA). In 1965 ASDA gets merged with the Asquith chain of three supermarket and Associated Dairies. ASDA introduced his first concept of the superstore in 1965. In the […]

Management of healthcare organization faces many challenges nowadays and in order to retain descent and credible reputation healthcare managers should pay more attention to generally accepted accounting principles and ethical issues, especially in the filed of financial management. Generally accepted accounting principles or GAAP is defined as the standard framework of key guidelines for financial […]