The stewardship theory holds a different approach from that of the agency theory, it first premise is that, the company serves a large range of social purposes rather than just trying to maximize the wealth of shareholders. The stewardship theory also called the stakeholders theory assumes that corporations are social entities that affect stakeholders welfare […]
1. What obligations did the financial managers have to their shareholders to do whatever is possible to avoid major financial losses associated with these products? According to Ask (2002), all major business institutions nowadays are being forced to continuously upgrade their financial status, technologies, innovate their products and services that they offer as well as […]
A budget is a quantitative or monetary plan for a period of time that aids the effective and efficient management of resources, by encouraging the effective planning, controlling, organising and controlling of resources. A budget is defined as ‘a quantified statement, for a defined period of time, which may include planned revenues expenses, assets, liabilities […]
Rolls Royce and GE are two of the most renowned names in the global engineering sector. The GE is based in the US while the Rolls Royce has its origins in Europe. Due to the difference of the regions, the companies follow different accounting principles in reporting their performances. The GE uses the US GAAP […]
Internal audit function is the crucial part of an entity’s corporate governance. Their has been important concern about the level of fraud within the company. The purpose of this study is to evaluate whether the companies with an internal audit function can detect fraud with those without. We find that the companies with internal audit […]
Financial policy and accounting Financial policy is to determines hoe a business is to be financed, whether by equity or preference share capital, and extent to which reliance is to be placed upon long term or short term borrowing. In addition the credit and discount policies followed to be determined policies companies have a duty […]
Accounting graduates have a healthy career prospect which makes them land lucrative jobs right after college. In fact it is said that, ”an accountant is a man who watches the battle from the safety of the hills and then comes down to bayonet the wounded.” The jobs range from working in a small business, an […]
It is argued occasionally, cash flow accounting or accrual accounting which one that can be provided better information for users. Leading to the primary basis on which the financial results of companies are reported. Firstly, the report would talk about review of the extant literatures between cash flow and accrual accounting’s role and intention of […]
1.1 Determine how to obtain financial data and assess it validity Tesco is Britain’s leading retailer. We are one of the top three retailers in the world, operating over 2,711 stores globally and employing 366,000 people. Tesco operates in 11 countries outside the UK – Republic of Ireland, Hungary, Czech Republic, Slovakia, Turkey and Poland […]
Financial reporting is part of financial accounting which is the activity involved with “classifying, measuring and recording the economic transactions of an entity in accordance with established principles, legal requirements and accounting standards” (Collis & Hussey, 2007). Financial reporting provides information about both the financial performance and position of an entity, and is involved in […]
