However, certain factors require public administrators to update or adjust allocated monies for the fiscal year. This is called rebudgeting. In this article, authors John Forrester and Daniel Mullins give a better understanding of this process. They also address the reasons why municipal governments use it. Re-budgeting tends to focus on small-scale issues; more of a tweaking of the original budget.
Introduction The Comprehensive Annual Financial Report (CAFR) is a governmental unit’s comprehensive accounting report that shows the financial position and the performance in operation. In the Howard County CAFR, it has 170 pages and provides detailed statements and wealth statistical data on its jurisdiction. This paper would analyze the Howard County CAFR presentation and would provide comments on the MD&A, summary of significant accounting policies, the government-wide statement versus to the governmental fund statement, and the proposed changes that would enhance accounting for the CAFR. Certificate of Achievement for Excellence in Financial Reporting The Howard County received the award of a Certificate of Achievement for Excellence
UBS regarded currency risk as a separate investment decision. Investment analysis was done on an excess return basis and as such, currency-hedging was a decision made after the investment analysis, based on the client's needs. What was the investment objective of UBS's global equity portfolio in terms of outperformance vs. the MSCI World Equity Index? How many stocks did this entail? The investment objective to UBS's global equity portfolio was to outperform the MSCI World Equity index by 225 basis points annually over the market cycle.
The disclosure shows the loss contingency and states the estimate of loss. Before the company issues the financial statement and after the enterprise’s financial statement is done, the company can impair an asset or incur the liability. Disclosure of loss contingencies helps the company to keep its financial statements not being misleading. When the disclosure is necessary, the company must report the loss contingency in financial statements with a given estimate of the mount of loss. Reference Financial Accounting Standards Board (2010).Statement of Financial Accounting Standards No.
This also includes educating staff about the responsibilities of maintaining costs. What are the reports that can be used for financial planning in an organisation? Profit and Loss Balance sheet Revenue and Expenditure report Cash flow statement Debtors and Creditors reports What is the process for preparing budgets or other financial plans? 1. Identify data that needs to be collected.
Support your discussion with references in APA format. You are encouraged to use Excel or other compatible spreadsheet when computations are involved. Abstract: Managerial accounting is the ability to read and analyze financial information for internal use. Managerial accounting is not as rigid in format as financial accounting and allows reports to be tailored to support specific research. Financial Accounting, required by law is the reporting of the company’s financial position over a period such as quarterly or annually, using GAAP approved accounting methods The Difference Between Managerial and Financial Accounting Managerial Accounting Versus Financial Accounting Managerial accounting is the broadest area of accounting.
Ethical concerns in Management Accounting Brittany N. Vaichus Liberty University Abstract The science of Accounting is not as black and white as the numbers accountants use. Financial accounting is bound by the Generally Accepted Accounting Principles (GAAP), while Management Accounting is not. Management Accounts have more liberties because this type of accounting is used for future decision making within the corporation. There are many different ways to determine the cost of goods sold, and the different methods will therefore reflect different levels of profit or contribution margin. Managerial Accountants should calculate net income or loss in a manner that accurately reflects the closest true costs and profits as determined by the International Federation of Accountants (IFA).
Annual Report for eBay Inc. Year Ending 2011 Shaun Evan Wright ACC 100: Accounting Professor Howard Katz Strayer University March 2013 Introduction With any company, you have an annual report. An annual report is a document that identifies and communicates to different investors and other people concerned about that company’s financial status. The annual report takes a look at the company’s financial earnings, assets, controls and procedures, quantitative and qualitative disclosures, etc. In this paper, that I am writing, we will explore and gather information from a very reputable and known company known as eBay Inc. I will be using their annual report from 2011, and explain the main sections of the report, discuss key factors that helped influence the company’s financial performance for the year stated above, the company’s assets, and we will also explain how management characterizes the internal control environment.
Managerial Decision-making using Financial Ratios MGMT640 Managerial Decision-making using Financial Ratios Abstract: Background: Financial statements allow stockholders and management to determine the financial health of a business. Using ratio analysis businesses can gain a snapshot of their durability compared to other companies within their industry. Managerial decision-making skills are a direct correlation on the financial wealth of a business, and can identify strengths and weakness within an organization. Results: Quantitative results are shown though using financial ratios and financial statements. The financial ratios can be divided between five core categories.
Also, many items listed on the balance sheet rely on estimates rather than determinable amounts. For example, companies estimate the amount of accounts receivable that will be collected. Because of these reasons, as well as others, a company's book value, or its assets minus its