ACCOUNTING THEORY Essay Example | Topics and Well Written Essays - 2000 words

account THEORY - Essay ExampleAmong these are the ground concepts that may be employ in the conceptualization of write up theories among other aspects of score theories. Some contend that in the beginning many primitive societies, those that were in existent in the earliest days, upriseed the art of counting before developing the art of identification (Brown, 2006, 3). These primitive forms of accounting for the number of items provide the basis by which early societies may be state to have been practicing accounting. Such groups are likes of the Egyptian with the need to account for grain harvested and stored. Examples of other such systems may be found in other early civilizations such as the Greeks and the Tibetans. Over time these systems of accounting for various items moved into the business world. This was in earlier European and Asian countries that mostly parcelicipated in mess with one another(prenominal) and within their countries. One will find evidence of the di fferences in practices among the various countries to depict differentiation in as furthermost as the earlier practice of accounting is concerned. There is in like manner need to mention the contribution of the likes of Luca Pacioli who made contributions to the earlier forms of accounting (Riahi-Belkaoui, 2005, 3). He is credited with developing the bivalent entry system of bookkeeping that is still widely taught and practiced in accounting spheres to date. It is though that everywhere time this Italian system of accounting was adopted in most parts of the world. In the joined States various forms of accounting methodologies were also being applied. These methods may not have been allowed for uniformity, due to the differences in the central guidelines. These theories were to be streamlined with the development of bodies such as the SEC which became the ultimate authority as far as providing guidance on accounting related matters (Previtis, Walton & Wolnizer, 2011, 121). Acco unting theory development The development of accounting theory on the other hand may be said to have progressed with the developments that were being experient in the accounting field. Their development was also being fueled by the changes that were occurring in corporate world. A good example may be the case with the development of the railway that led to the growth of the declension market for the purposes of raising needed financing. This growth in a whole industry catapulted the need to develop theories to be used in corporate financing deals (Schroeder, Clark & Cathey, 2011, 4). The current environment The recent financial crisis affected the world in a way that most did not see coming. This crisis also exposed a lot of the misdeeds that have been happening in the financial world. The effect is that there has been an increase in the trouble that is being paid to these sectors of the economy. Accountants and the accounting theories that they choose to use are being placed un der greater scrutiny by various bodies. This is in a bid to try and prevent the recurrence of another crisis. The major concern being caused by the derivatives that have come to play a major part in corporate entities and that may have carried some blame when it comes to the causal effect of the crisis. Accounting for these derivatives requires supernumerary accounting regulations as compared to other marketable securities (Stickney, 2010, 579). Accounting theory definition Before an in enlightenment analysis and look at the various theories and how they affect the accounting world, one needs to be witting of the definition or the basic characteristics of an accounting theory. Dictionaries place the definition as, well organized knowledge that flowerpot be applied in a wide variety of situations. These are principles and assumptions that can be used to predict how a given

Incentive pay as a way of compensating employees Essay

Incentive put up as a right smart of compensating employees - Essay ExampleAccording to the Vision Link advisory group, intrinsic rewards also allow employees to invite a certain level of autonomy, provides opportunities for mastery in which employees may feel and see their progress, and it do-nothing induce purpose in their exit so that they can feel that they are doing something good not nevertheless for themselves but also for the union. On the other hand, adventitious compensation may include monetary and nonmonetary rewards. Examples of extrinsic compensation can be discretionary benefits such as paid time off and security system programs (Martocchio 86). Generally, Incentive pay may come in the form of bon wasting diseases, profit sharing, or commission (Business Dictionary). It is a monetary reward given to employees based on individual or group performances. This subject of pay can reflect the way employees continue to pursue positive results in the workplace. In a ddition, incentive plans can inspire dedication, commitment, and hard work. This type of plan will allow for recognition of outstanding workers and at the identical time keeping track of the organizational goals (Employee Incentive). A guild can decide on how they will design their incentive pay plans and on what criteria depending on what industry and type of the company. The most general types of incentive pay plans are individual incentive plans, group incentive plans, and companywide incentives. In many occasions, soulfulness incentive plans reward employees for meeting such work-related performance standards as quality, productivity, customer satisfaction, safety, or attendance (Martocchio 85). Organizations use individual incentive plans to motivate their employees by granting them the opportunity to receive additional income. These additional incomes can be given in forms of bonuses or commission (Joseph). There are different types of individual incentives the most pleb eian are piecework plans, management incentive plans, behavioral encouragement plans, and referral plans (Joseph). Piecework plans reward their employees for increases in productivity. It consists of the quantity and the quality of work produced. This criterion is based upon the supervisor or managers interpretation on the performance of the employee. Piecework plans can be utilize in industrial and production settings (Joseph). In contrast, management incentive plans involve several intricate objectives. This type of incentive only allows managers to receive their award when they reach objectives depending on sales, profit, production, or other criteria in the company (Martocchio 86). In addition, many companies may compensate their employees for referrals. Some companies use referrals to motivate their workers to recruit new employees into the company the employee will then be rewarded after the new employees has been in the company for a certain design (Joseph). Lastly there a re behavioral encouragement plans where employees are given cash for specific behavioral accomplishments. In addition to individual incentive plans, some companies choose to compensate or reward their employees as a group, in other words, based on collective performance. Group incentive plans are mensural depending on customer satisfaction, labor live savings, material cost savings, reduction in accidents, and services cost savings (Joseph). It is said that well designed group incentive plans ultimately reinforce teamwork, cultivate loyalty to the company, and increase

The Seeking of the Non-Executive Directors (NEDs) Essay

The Seeking of the Non-Executive Directors (NEDs) - Essay ExampleConsequently, this had resulted in endeavors to make the directors more(prenominal) liable for their strategies and actions. The inclusion of non-executive directors in the jury of an organization has an imperative part to play in this context of use and will be the subject of concern in this study (Stewart, n.d., p.2). The non-executive directors (NEDs) perform multiple functions in an organization. In accordance to the Combined and the UK reckons of Corporate Governance together with the UK Stewardship Code, the NEDs seek to challenge the chairman and the executive directors in the board, offer expertise, knowledge and insight to the board, elevate principles of corporate governance, and guide the board on business scheme (Lewis, 2010, p. 5). The role of the non-executive director The latest financial disaster and the resulting bail-out of many financial organizations have impelled the watchword regarding the po sition and efficacy of non-executive directors (NEDs) in context of corporate governance. ... Fundamentally, the role of a non-executive director is to offer a resourceful contribution to the organization by presenting objective criticism to the board. The non-executive directors seek to bring in commutative opinion on matters associated with strategy, resources and performance of the organization. Additionally, it is also expected that the NEDs would provide their independent verdict on secern appointments to be made in the organization as well as its standards of conduct. The non-executive directors are inducted in the board of an organization owing to their wide range of experience, their apt competence and meticulous personal attributes. Furthermore, the NEDs might accept some expert knowledge and understanding that would aid the board by endowing it with helpful insights or name contacts in associated businesses. Nevertheless, the utmost objective of having the non-executiv e directors in the board is their independence with respect to the organizations heed as well as its involved parties. This implies that the NEDs bring in an extent of impartiality to the boards discussions and negotiations, and hence play a crucial task of monitoring the management of the organization. According to the Combined Code of Corporate Governance (2008), the board of any business organization should comprise of ample number of autonomous non-executive directors having adequate calibre, so that their opinions carry considerable weight in the discussions of the board during strategy formulation and opposite important issues. In addition to providing added competence, proficiency and perspective, the introduction of NEDs in an

Art Criticism Paper Essay Example | Topics and Well Written Essays - 750 words

Art Criticism makeup - Essay ExampleIt stimulates divers(prenominal) parts of our brains to act in a particular way and it gives us a way to be creative and express ourselves.Basically, art plays a very hallificant berth in our daily lives. It is a form of communication that uses the aid of symbols and pictures that depict heterogeneous meanings in our sociable lives.A critical analysis of the first picture, (brothers of fire) depicts that there is an element of unity and love in various images shown. However, it must be noted that different meanings of symbols be culture specific. They mean different things depending on the cultural values of any given society. In the picture given, the images of clasping hands which are symbolic to different cultures are the most captivating and they depict different meanings. In most cases shaking of hands is a contract of greeting apiece other and is symbolic of love and affection. There is an element of unity and brotherhood whenever d ifferent people greet each other.People often greet each other in legion(predicate) different ways using their hands and it may vary from unitary society to the other. Greeting each other with a sign of bringing to contact clenched fists is typical of Rastafarians and is often associated with the notion of one love and peace which characterises their religion. There are however, different interpretations that are often associated with this gesture depending on the cultural background that often determine moral values of a particular group.Normally, in the world of Christianity, clasping both(prenominal) hands in the upward direction is a sign of offering a prayer to the manufacturer while in some sections of the society it is a sign of paying tribute to someone. It is a sign of showing respect and honour. On the other hand, a sign showing only one fingers breadth and thumb pointing in the front direction is often associated with paying homage to someone and

Report on security (read attachmment) Essay Example | Topics and Well Written Essays - 2000 words

Report on security (read attachmment) - Essay manikinPhysiological and /or behavioural characteristics atomic number 18 two basis of biometric cognition system. Human characteristics used for biometric recognition system are based on parametres resembling universality, erraticness, permanence, collectability, performance, acceptability, and circumvention, Ofcom(2009). Furthermore, verification and identification are two modes in system operation. Few technical considerations in selecting a system are turned accept respect or false match treasure (FAR or FMR), false reject rate or false non-match rate (FRR or FNMR), receiver/relative operating characteristics (ROC), equal error rate or interbreeding error rate (EER or CER), failure to enroll rate (FTE or FER), failure to capture rate (FTC), and template capacity. Dynamic Air Parts plc is currently using swipe card sytem .Swipe card is a type of card capable of storing data by modifying the magnetism of tiny iron-based magnet ized particles on a band of magnetic material on the card. The swipe card system is read by physiological contact and swiping past a magnetic reading head. An individually encoded pass card looks a like a address card. The stripe on the back of the security pass card is a magnetic stripe, often called a magstripe. Typically, the data on an encoded security swipecard includes 1. Name 2. ID (social security number or different unique number) 3. Access level (where youre allowed to go) Next generation of magnetic cards - Smartcards. Smart Cards or Smartcards is the term referred to cards, made from plastic, with similarities in size, thickness and other physical appearance as plastic credit cards. It can describe chip card or integrated circuit card. Smart cards in addition have an Integrated Circuit (IC) Chip embedded in it. Smart cards are also known as IC cards and ICC cards. The amount of information can be stored in smart cards is much greater compared to magnetic stripe cards . Some of them can also be reprogrammed to add, delete or rearrange data. Compared to magnetic cards, smart cards offer more advantages, such as 1. They can be readily reconfigured. 2. They are reusable. 3. They give more security, thus reducing the risk of relations fraud . 4. They are much more durable and reliable. 5. They allow multiple applications to be stored in champion card. 6. It provides reduction in costs. 7. It has technical specification standards. 8. It gives security of information. 9. It has more organized information. 10. It has emergency information. 11. The process doesnt bear paper. 12. One card can access multiple transactions. 13. It reduces fraud. 14. It has high memory capabilities. 15. It has the ability for on-site approval. 16. End-user exclusively accessibility. Besides advantages, smart cards also have some disadvantages, such as 1. It gives liability issues if stolen or lost. 2. The accuracy of information is small. 3. Lack of technology to support users . 4. It is potential hazard to data security since in any case much data is stored on one card if lost or stolen. 5. It is a potential cranial orbit for computer hackers and computer viruses. Fingerprint Recognition Systems. A fingerprint contain a number of unique physical characteristics called minutiae, which includes cert ain visible aspects of fingerprints such as ridges, ridge endings and bifurcations (forks in ridges). Minutiae are generally lay out in the core points of

Discuss problems arising from IAS 17 Leases Essay

Discuss problems arising from IAS 17 Leases - Essay ExampleIn a globalized economy leasing activities argon increasing in magnitude as businesses strive to improve competitiveness through cost reduction and improved quality of products and services (IFRS Foundation, 2013a). Therefore, changes in accounting standards for leasing will influence the overall preparation of financial statements.Leasing is of great significance to the business entities. It is a means of gaining access to assets, obtaining finance, and of reducing an entitys exposure to the jeopardize of asset ownership (IFRS Foundation, 2013a, p.5). Initially, the prevailing accounting model for engages required the lessors and lessees to recognize and categorize leases either as finance leases or operating lease. Also, it required them to maintain a separate account for leases. The financing lease used to finance equipment for the most of its useful life and lessee would take the ownership of the equipment after the l ease period. On the other hand, operating lease financed equipment for a period less that its useful life and lessee returned the leased equipment to the lessor without both obligation of transfer of ownership. However, the model failed to fulfill the needs of users because it did not recognize assets and liabilities relating to operating leases. This led to the toleration of IAS 117 Leases (IFRS Foundation, 2013a).The application of IAS 17, Leases requires the lessee to establish items and maintain track of all right-to-use assets. It requires comprehensive sub-ledgers and creates the need for the establishment of discrete property, base and equipment sub-ledgers for the right-to-use assets (IFRS Foundation, 2013a, p. 5). In addition, the lessee has to establish a scheme to ascertain each lease as a function of right-to-use asset category. However, the International Accounting Standards 17 (IAS 17),

Alexander the great Research Paper Example | Topics and Well Written Essays - 1250 words

black lovage the great - Research Paper Example black lovage built himself a spot and features as one of the greatest defeators of his time. His ascent to the throne simply happened because of his fathers tragic character assassination in the old capital of Macedon. Seeing this as an opportunity to expand his territory so that he could stop any rebellion from taking place since his fathers death, he swiftly re-strategized so that he could crush any revolting group within from causing havoc to his throne. He ensured, for instance, that he got rid of his internal enemies by assuring that they never moved anywhere further from prison. This was quite outstanding for him in his conquest since it would give him ample time to wage war against the external enemies like Persia. Although he is believed to be one of the organizers of his fathers death, the truth is not quite retiren since no designate proves so. If it may be true that Alexander the Great might have had a hand on the death of King Philip, then it would have been so under mischief and sheer quest for power. Alexander can be said to be a army genius as judged by the good-natured of calculating move made before hitting at his opponent. It can be said to be one of the reasons why probably he succeeded in commanding a large army that helped him conquer and invade other states at a young age. His 13 years as an emperor were label by the successive defeats of battles against his opponents. He toured places with an aim of expanding his territory. The first tactic he used was trying as much as possible to learn the weaknesses of his opponent. This is actually what he did to Persia. He first toured Persia, trying to know and understand its military strengths and weaknesses before finally making an attained (Abbott 67). Other than the fact that he was largely gifted in matters of politics, a number of factors made Alexander the Great very successful in his career as a ruler of the great nation, while at th e same time he encountered several challenges, for example, the persistent attacks from sections which had been captured initially earlier (like Greece) he was beseeching for self rule just in a flash after the death of his father, his spontaneous counter attacks made him victorious, driving the enemies away in a pay for to scatter them so that they could become weak. This is what made him survive the many terrors of war that was awash in Macedon. His military domination did not just come by chance as most historians would argue Alexander himself was a planner who had well trained army, equipped with all manner of ammunitions. It therefore was easy for him to fight without retreating. He ensured that he invested well in his army to avoid any form of dissatisfaction. They, therefore, went to war with a spirited motive of winning the battle, disregarding the size and the nature of their enemy and the challenges at hand. He potently believed that he could capture Europe and the wh olly of Asia. Another factor that made him successful in battle was the kind of high standards of discipline he set for himself and the entire army. For the entire period of his rule of the whole of Macedon, only once did he face the