Financial eporting
Current liabilities at Activision Blizzard Inc.

Current Liabilities for the Most ecent Annual eporting Period

Current liabilities are classified as amounts which are owed to suppliers and creditors, which are due within 12 months (Harrison et al., 2012). The Activision Blizzard Inc. And Subsidiaries consolidated balance sheet shows total current liabilities at 31 December 2012 (the end of the most recent accounting period) as being $2,652 million. The company divides the current liabilities into three different categories; accounts payable, deferred revenues and accrued expenses and other liabilities.

The accounts payable may also be referred to as the trade payables, and is money which is due to the suppliers for goods that have been received, but not yet been paid (Wild, 2012). The amounts which are shown on the Activision Blizzard Inc. accounts payable will be accounts receivable on the relevant supplies balance sheet. At the end of 2012 the accounts payable was…...

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References

Harrison, Walter T; Horngren, Charles T; Thomas C. William R, (2012), Financial Accounting, Prentice Hall

Wild, John, (2012), Financial Accounting: Information for Decisions, McGraw-Hill/Irwin

Financial eporting on the Internet (AMETEK, Inc.)
The company's management as AMETEK observes in its 2012 annual report is responsible for not only the preparation but also the integrity of the financial statements and other related information (AMETEK, Inc., 2012).

As the company further points out in its annual report, its financial statements conform to the provisions of GAAP (AMETEK, Inc., 2012). The relevance of following the standard set of accounting policies cannot be overstated. To begin with, these standards come in handy in the enhancement of uniformity. As Warren and eeve (2006) observe, this uniformity helps various stakeholders including but not limited to investors to compare one company against another. Confusion would most likely result were individual companies to prepare financial statements in different formats. It is also important to note that GAAP help in the standardization as well as regulation of accounting methods, assumptions, and definitions. For this reason, these…...

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References

AMETEK, Inc. 2012. 2012 Form 10-K Annual Report. [online] Available at: < [Accessed 29 July 2013].http://phx.corporate-ir.net/phoenix.zhtml?c=104638&p=irol-reportsAnnual>

Graham, J.R. And Smart, S.B., 2011. Introduction to Corporate Finance. 3rd ed. Mason, OH: Cengage Learning.

Warren, C.S. And Reeve, J.M., 2006. Corporate Financial Accounting. 9th ed. Mason, OH: Thompson Higher Education.

Weil, R.L., 2012. Financial Accounting: An Introduction to Concepts, Methods and Uses. 14th ed. Mason, OH: Cengage Learning.

Financial reporting system is any system that compiles financial data and presents it to management in a meaningful format. There are different types of such systems, depending on the system's purpose. So a company can have a one system to assist with financial accounting, and another that delivers managerial accounting outputs. A system that delivers financial statements needs to use generally accepted accounting principles (GAAP), so there is little choice with respect to formatting, only the rules that the company choses to adhere to.
ith managerial accounting, however, there are a number of different systems that can be used. This is where the design of the reporting system comes into play, because the design of the system is what ensures that management will receive from the system the information that it needs. Each systems contains different components, including methods of reporting, different measures that are used, and methods of presentation. These…...

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Works Cited

Tatum, M. (2013). What is an operating budget? WiseGeek. Retrieved February 28, 2013 from  http://www.wisegeek.com/what-is-an-operating-budget.htm 

Investopedia. (2013). Activity-based budgeting. Investopedia. Retrieved February 28, 2013 from  http://www.investopedia.com/terms/a/abb.asp#axzz2MDztY2yw

Financial eporting and Analysis
The objective of this report is to carry out the financial reporting and analysis of Sunbeam Corporation. To carry out the analysis, the paper adjusts Sunbeam's 1997 financial statements to reveal the fraud perpetuated by the company in its 1997 financial statements.

Adjustment of Sunbeam's 1997 Earning

The report adjusts Sunbeam's 1997 Earning before taxes and interests. This includes depreciation expenses, and doubtful accounts. After the issuance of the Sunbeam Consolidated Financial Statement for December 28, 1997 fiscal year, it is revealed that the company generally inflated the financial results of 1997 at the expense of 1996 fiscal year's results. This report reveals that certain revenue was not properly recognized, as there were principally bill and bold transactions.

Moreover, there are certain costs that were not properly accrued and recorded. For example, the principal allowances such as the cooperative advertising, principal allowances for returns, warranty expense, reserves for product liability…...

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Reference

Porter, M.E. (2008) The Five Competitive Forces That Shape Strategy, Harvard business Review,

Financial Reporting & Analysis
This particular assignment is about financial research assignment in which shares analysis of a company has been conducted through different angles. The assignment has been divided into 5 different sections and every section has been related to the end result of the research. It is prerequisite for this particular assignment to select a company which has been listed on the Financial Times Stock Exchange (FTSE-100). The company which has been chosen for this particular work is Anglo American. The first part of the assignment is to define about the primary business activities of the company, let's now start the same.

A Helicopter View Anglo American Company

Anglo American has been counted among one of the largest mining companies of the world which merely focuses on the platinum group, metals, copper, diamond, nickel, iron and thermal coal. The company has its headquartering located in London, United Kingdom, with 7 different…...

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Bibliography

Bierman, H.Jr. (2007), Lesson on Accounting & Finance, World Scientific Publishers, Cornell University, USA

Bierman, H.Jr. (2008), Lesson on Accounting & Finance, World Scientific Publishers, Cornell University, USA

Cinnamon, R & Larsen, B.H (2006), How to understand Business Finance, McGraw Hill Publications

Cinnamon, R & Larsen, B.H (2007), How to understand Business Finance, McGraw Hill Publications

Therefore, the fixed overhead charge would otherwise be applied to other orders in their system.
The order utilizes the capacity and contributes a positive net cash flow of $2,500, even though the overhead charge renders it unprofitable in the accounting sense. In determining whether or not Sport Cardz should take the order, they must consider cash flow rather than accounting profit. If they did not take the order, the overhead charge would be applied elsewhere anyway, so it is not included in the decision-making process.

The order will therefore generate $20,000 in revenues and costs of $17,500. This leaves a positive cash flow of $2,500 that will be applied to the fixed overhead. The choice of allocation method, from which the actual charge is derived, is irrelevant to the decision of whether or not to take the order.

3. Fixed Systems should continue to make the switch. If they purchased the switch…...

SAP'S EXTENAL FINANCIAL EPOTING
SAP External Financial eporting

SAP's external financial reporting

History of SAP

SAP has a proud 40-year history that is founded on their mantra of innovation. Their success has come from their innovative culture. The company was founded in 1972 when five like-minded former IBM employees came together and created a company with the vision of providing clients with technological innovations. The company was called Systemanalyse und Programmentwicklung (SAP) which was German for System Analysis and Program Development. The company's vision was to provide standard application software for real-time processing of data. It was formed as a private partnership under the German Civil Code with the headquarters in Weinheim, Germany Mohapatra, 2009.

The company began with only one customer, Imperial Chemical Industries (ICI) and at the time, they had just nine employees. At the end of the first year, the company had generated DM 620,000 in revenue Volkmann, Tokarski, & Grunhagen, 2010()

In…...

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References

Adam, F., & Sammon, D. (2004). The Enterprise Resource Planning Decade: Lessons Learned and Issues for the Future. Hershey, Pennsylvania: Idea Group Pub.

Bora, K. (2012). SAP Named Worldwide Market Share Leader For Business Intelligence In 2011: Gartner. Retrieved from  http://www.ibtimes.com/sap-named-worldwide-market-share-leader-business-intelligence-2011-gartner-434824 

Lau, L.K. (2005). Managing Business With SAP: Planning, Implementation and Evaluation. Hershey, Pennsylvania: Idea Group Pub.

Mohapatra, S. (2009). Business Process Automation. New Delhi: Prentice-Hall Of India Pvt. Ltd.

Accounting Standards
Financial reporting practices and ethical standards in health care finance constitute the foundation of every successful organization. Healthcare organizations and other industries in the general market adopt Generally Accepted Accounting Principles (GAAP). The main objective behind this is to boost the organization's value by maintaining the integrity within and to leverage public trust. This paper summarizes the elements of financial management, GAAP and ethical standards in healthcare finance.

Elements of Financial Management

Financial management as a holistic process constitutes of four recognized elements: controlling, planning, organizing and directing, and decision-making (Baker & Baker, 2011). The formulation of the four elements was mainly through consideration of the purpose behind each task. This paper discusses the four elements in detail.

Planning is a crucial division of financial managements. Every organization sets objectives to guide their performance, meeting such objectives require the company's financial manager to take stepwise procedures. The manager of financial operations within…...

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References

Barrett, M. (1976). Financial Reporting Practices: Disclosure and Comprehensiveness in an International Setting. Journal of Accounting Research. 14(1), 10-26.

Camiciottoli, C and Belinda (2011). Business Ethics: Professional Ethics. Business Communication Quarter l. Vol. 74 Issue 3, p 298-312, 15 p, 3.

Baker, J.J., & Baker, R.W. (2011). Health care finance: Basic tools for non-financial managers (3rd Ed.). New York: Jones & Bartlett.

S. GAAP," 2012). In other circumstances, IFS requires the combination of two or more transactions when they are linked in a manner that the commercial impact can only be understood through referring to the transactions as a whole.
Customer Loyalty Programs:

Under IFS accounting standards, loyalty or award programs in which a customer earns credit depending on their purchase of goods and/or services should be accounted for as multiple-element arrangements. Therefore, these accounting rules necessitate deferring and distinct recognition of the fair value of the award credits after the realization of every applicable criterion for revenue recognition. These guidelines are applicable regardless of whether the credits can be redeemed for goods and services issued by the business or those supplied by another business.

On the contrary, accounting for customer loyalty programs within U.S. GAAP is characterized with some differences since there are two very dissimilar methods used by entities. While some businesses use…...

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References:

"Converting to IFRS." (2009). Ernst & Young: Quality in Everything We Do. Retrieved June 10,

2013, from  http://www.ey.com/Publication/vwLUAssets/Converting-to-IFRS-Effects-on-U.S.-BCM/$FILE/U.S.-IFRS-Converting-to-IFRS-U.S.-BCM_institutions.pdf 

Forgeas, R. (2008, June 16). Is IFRS that Different from U.S. GAAP. Retrieved June 10, 2013,

from  http://www.ifrs.com/overview/General/differences.html

ebay financial reporting
eBay Corporation: Financial eporting

The current market trend in the American business world shows that many businesses are making the switch to the fair market value of accounting for employee stock options. The Journal of Accounting esearch defines fair market accounting as accounting for the fair value, or price, of an asset or liability based on the current market price of that asset or liability, or for similar assets and liabilities, or based on another objectively assessed "fair" value (iedl and Serafeim, 2011, p. 1083). In understanding this concept fully, one can then assess its role within specific businesses' financial decisions -- in this case, eBay.

Ethical and Financial Considerations

Footnote disclosure is a widely-used system of financial reporting, which has brought about instances of ethical questioning in past years since its introduction within eBay's reporting protocol. The introduction of backdated accounting disclosure in the form of footnotes caused an instance…...

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References

Bradshaw, M. (2005). eBay, Inc.: stock option plans (A). Harvard Business School cases:

accounting and control. PDF. Accessed on: 7 August 2011.

Congressional Budget Office. (2004). Accounting for employee stock options. Accessed from:  http://www.cbo.gov/doc.cfm?index=5334&type=0&sequence=2 .

Riedl, E. And Serafeim, G. (2011). Information risk and fair values: an examination of equity. Journal of Accounting Research. 49(4), 1083. Retrieved from: ProQuest Database.

Financial eporting and Analysis
Accounting Quality

The Sarbanes-Oxley (SOX) Act was created with the intent of improving the quality of accounting, reliability of financial statements to investors, and providing oversight to accounting professionals through the creation of a new federal agency, Public Accounting Company Oversight Board (PACOB). Create an argument supporting whether SOX achieved these goals, and whether financial data reported today is more accurate and reliable than prior to the Act. Provide support for your rationale

SOX has been successful, and is comprehensively credited for firming up different areas. One of these areas encompasses CFO and CEO responsibility and accountability regarding all financial disclosures and associated controls. A second aspect encompasses increased competence and commitment on the part of corporate audit committees. Overall, SOX has been quite effective and successful in increasing focus and emphasis on a strong ethical organizational culture in companies (Verschoor, 2012). One of the positive impacts of the…...

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References

Brigham, E. F., Houston, J. F. (2013). Fundamentals of Financial Management. Mason: South-Western Cengage.

Jais, M., Abdul Karim, B., Funaoka, K., & Abidin, A. Z. (2009). Dividend announcements and stock market reaction. Munich Personal Repec Archive.

Boyte-White, C. (2015). How Dividends Affect Stock Prices. Investopedia. Retrieved from:  http://www.investopedia.com/articles/investing/091015/how-dividends-affect-stock-prices.asp 

Walker, C. (2009). Damage Limitation How Companies Can Manage: The Impact of Financial Restatements on Corporate Reputation. RSM Outlook.

Bush, who declared that corporations which jeopardized the investments and jobs of millions of individuals should pay their dues. The United States Senate and the House of epresentatives also became involved and proposed numerous modifications.
The pillar of the changes occurred in financial reporting after the accounting scandals is based on increased transparency and more support in conducting audit operations. The XBL system for instance will allow the Securities and Exchange Commission to conduct analyses in a more efficient manner. All efforts to improve the financial reporting system have been condensed into the Sarbanes-Oxley Act. It represents the most important regulatory act of the past 70 years and it is applicable all around the world; it addresses issues that refer to all players in the corporate reporting chain.

eferences

Bautista, L.., 2004, Implications and Effects of Sarbanes-Oxley Act, Securities and Exchange Commission, etrieved at http://www.adbi.org/conf-seminar-papers/2006/03/30/1739.implications.effects.sarbanesoxley/onMarch 13, 2009

Cooper, C., 2007, Extraordinary Circumstances: The…...

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References

Bautista, L.R., 2004, Implications and Effects of Sarbanes-Oxley Act, Securities and Exchange Commission, Retrieved at   13, 2009http://www.adbi.org/conf-seminar-papers/2006/03/30/1739.implications.effects.sarbanesoxley/onMarch 

Cooper, C., 2007, Extraordinary Circumstances: The Journey of a Corporate Whistleblower, John Wiley and Sons

Lee, H., Effects of Sarbanes-Oxley Act of 2002 and SEC Final Rulings on Auditor Independence, SUNY Institute of Technology, Retrieved at 13, 2009http://www.sba.muohio.edu/abas/2003/vancouver/lee_auditor%20independence.pdfonMarch

Malpass, a., June 2, 2002, hp_:I/help animals.net/news artic/91719, Quoted by Hannon

easyJet Financial eporting
ecent History egarding Corporate Accounting Policy

The recent corporate accounting practices of easyJet Airlines reflects financial accounting policies at the company, which were in disapproval by Sir Stelios Haji-Ioannou, founder -- easyJet (Waller, 2008) . The Board of Directors are responsible for drafting and adopting of company accounting policies. Sir Stelios' rejection of the boards annual accounts is reflective of the agency/principle problem such that the board is now potentially viewing the corporation in a different light than from the founder.

The founder proclaimed the accounting policies adopted by the board of easyJet to be inaccurate and not reflective of the "current commercial realities and the macro-economic climate" says Sir Stelios (Waller, 2008). Stelios recommends changes to the policies in place and suggests appointment of two directors of non-executive capacity to serve on the board to provide financial accounting insight into the policies established and set forth by the board.

Stelios'…...

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References

"A new departure for EasyJet with Airbus," 2003, FT.com,, pp. 1.

EasyJet Annual Report (2010). http://2010annualreport.easyjet.com/files/pdf/ConsolidatedFinancialPosition_easyJet_AR10-3-5.pdf

EasyJet Resolves Dispute With Founder 2010,, Dow Jones & Company Inc.

"Filling the gaps with a new SAFETY EVENT," 2004, The Safety & Health Practitioner, vol. 22, no. 10, pp. 78.

Sarbanes-Oxley Act of 2002 in reducing fraudulent financial reporting
Introduction to Fraudulent Financial eporting

Available research on financial statement fraud relies mostly on anecdotal evidence (for example, Wells, 2001, 2002, 2004a, and 2004b; ezaee, 2003). This evidence offers advice on how mechanisms related to the fraud triangle can be curtailed. It leads to theoretical sense to reduce factors which lead to more instances of fraud. However, deterrence and established deterrence methods in place within organizations have not been examined in proper detail. Neither have the secondary issues which can influence a person's chance of committing financial statement fraud. But there are multiple researches where deterrence models have been tested on other types of fraud e.g. tax fraud, fraudulent reports of environmental violations etc. Generally speaking, a clear consensus regarding the level of effectiveness of prevention mechanisms, such as those stated in GDT, is not present. There are two key parts of…...

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References

Abbott, L.J., S. Parker, and G.F. Peters. 2004. Audit committee characteristics and restatements. Auditing: A Journal of Practice & Theory 23 (1): 69-88.

AICPA: 2002, Statement on Auditing Standards (SAS) No. 99: Consideration of Fraud in a Financial Statement Audit (American Institute of Certi-ed Public Accountants, Durham).

Albrecht, W. And Albrecht, C. (2004). Fraud examination and prevention. South- Western, Mason Ohio.

Albrecht, W.S. And M.B. Romney. 1986. Red flagging management fraud: A validation. Advances in Accounting 3: 323-333.

Toyota's Financial eporting: Contexts And ecommendations
Measurement Models and Conceptual Framework

The basic conceptual framework behind the IASB and the accounting standards and recommendations made by this group is very straightforward. The standards are meant to create greater transparency, accuracy, and efficacy in financial reporting, which itself has the goal of providing useful information about the reporting entity's capacity as a capital provider -- to investors, creditors, etc. (Walton, 2011; Ernst & Young, 2008). On more far-reaching level, the conceptual framework of the IASB and its issued standards is built on the premise that consistency in accounting leads to more effective decision making when it comes to capital, which leads to a more productive and efficient economy (Walton, 2011). There are many specific ways in which consistency and transparency are encouraged through various measurement models set in this framework.

evenue recognition is one specific area of accounting and financial reporting recognized and carefully…...

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References

Environmental Report. (2011). Examples of Kaizen Initiatives in Japan.

Ernst & Young. (2008). International GAAP 2008. New York: Wiley.

Toyota. (2011). Annual Report.

Toyota. (2011a). Consolidated financial reports.

1. The role of transparency and accountability in local government financial reporting
2. The impact of fiscal decentralization on local government accounting practices
3. Balancing fiscal responsibility and service delivery in local government budgets
4. The challenges of measuring efficiency and effectiveness in local government expenditures
5. The ethical considerations of financial decision-making in local government
6. The role of technology in improving local government financial management
7. The implications of political influence on local government accounting practices
8. The challenges of integrating sustainability goals into local government budgets
9. The importance of citizen engagement in local government financial decision-making
10.....

Essay Topic:

The Evolving Landscape of Local Government Accounting and Accountability: Challenges and Choices in an Era of Fiscal Transparency and Public Scrutiny

Introduction:

Local governments play a vital role in providing essential services and infrastructure to their communities. Effective and transparent financial management is paramount for ensuring the efficient use of taxpayer funds and maintaining public trust. However, local government accounting and accountability practices face significant challenges in the wake of evolving technological advancements, increasing public scrutiny, and heightened regulatory expectations. This essay will delve into the complexities of these challenges and explore the choices that local governments can make to enhance....

Reflective Essay: Accounting Theory

Accounting theory is an essential part of the accounting profession as it provides a framework for understanding and interpreting financial information. Throughout my studies in accounting, I have learned about various accounting theories that have significantly influenced the way financial transactions are recorded and reported. In this reflective essay, I will discuss my thoughts and insights on accounting theory and its relevance in the field of accounting.

One of the accounting theories that I found most intriguing is the Positive Accounting Theory. This theory suggests that accounting practices are developed based on the self-interest of individuals or organizations.....

Accounting Theory: A Reflective Essay

Introduction

Accounting theory serves as the foundation for the principles and practices that guide financial reporting. It aims to establish a common framework for understanding and interpreting accounting information. As a student of accounting, I have delved into various accounting theories, each offering unique insights and perspectives. This reflective essay explores my reflections on accounting theory, its significance, and its implications for the accounting profession.

The Role of Accounting Theory

Accounting theory provides a conceptual framework that underpins accounting practices. It establishes the principles and standards that govern the recording, classification, and reporting of financial information. By providing a....