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Assignment
Part A (1000 words)
Watts and Zimmerman's ‘The Demand and Supply of Accounting Theories: The Market for Excuses' suggested the ‘normative' project of accounting academics and other social critics of corporate accounting practice to be invalid; that there are no objective grounds in accounting theory for judging accounting practice as ‘good' or ‘bad'; all such judgements are mere excuses or apologies for advancing the interests of particular social constituencies, couched in a language of academic impartiality and objectivity.
Tony Tinker [Policing Accounting Knowledge: the market for excuses affair] has suggested that the positive accounting theory proposed by Watts and Zimmerman is being replaced by a new paradigm: one that emphasises usefulness, vocational training and practical application.
Contrast ‘normative' theories with ‘positive accounting' theory. Have we moved to a new paradigm and if so what is it.
Part B (1000)
Consider the concept of historic cost and discuss the following questions
- The historical cost model and its application- The reasons for the dominance of the historical cost model, and the arguments against the model- Historical cost valuation issues, and the equity perspective adopted- Criticisms of historical cost accounting.
Based on the preceding information, what amount of total liabilities was reported in the consolidated balance sheet immediately after acquisition?
a corporation issues 82000 8 5-year bonds on january 1 2011 for 85690. interest is paid semiannually on january 1 and
united express unex is a package delivery company which offers two types of service air delivery overnight and ground
Third purchase $85. If the company sold two units for a total of $240 and used FIFO costing, the gross profit for the period would be?
the holtz corporation acquired 80 percent of the 100000 outstanding voting shares of devine inc. for 7.50 per share on
the manufacturing overhead budget at cutchin corporation is based on budgeted direct labor-hours. the direct labor
Holding the position of ‘Risk Manager" can be a daunting task. Their role is to advise their company of any potential risks that might exist within the organization, its employees, customers, and even its reputation.
Revenue systems are crucial in the healthcare industry, where hundreds of billions of dollars are spent annually reconciling revenues and billing data from the perspectives of providers (doctors and clinics, etc.) and payers (insurance companies).
the standard cost of product b manufactured by mateo company includes three units of direct materials at 5.00 per unit.
The Connecting company uses the percent of sales method of accounting for uncollectible accounts receivable. During the current year, the following transaction occurred: Prepare the general journal entries to record these transactions.
Michael Products Co. has predicted the following costs for this year for 150,000 units: Calculate the markup on variable costs needed to achieve a target profit of $100,000.
The ultimate objective of the business advertiser is to make:
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