Reference no: EM131779268

Problem - Submit a 4-6 page paper on one of the major topics listed below, incorporating at least two related articles of your choice. You may come up with your own topic, but it must be approved by your instructor.

How do partnerships and corporations differ in accounting processes? Reporting? Financial statements? What are the benefits of each? How would one select one from another?

What does a statement of cash flows tell us about the short and long term prospects of the firm? How does an outside review use a statement of cash flows and other financial statements to assess the viability of the firm?

Why is cost accounting so important to the success of the firm? What are the various methods of cost accounting and how are they used?

How does an operating budget work to discipline a firm's management? What are the elements of a budget? How are budgets constructed? What is budget variance?

What is management accounting? What are the sources of data? How are the data used to make management decisions?

The purpose of the Final Project is for you to culminate the learning achieved in the course by describing your understanding and application of knowledge in the field of accounting. The paper must (a) identify the main issues in the chosen area, (b) contain and reference new learning that has occurred, (c) build upon class activities or incidents that facilitated learning and understanding, and (d) present specific current and/or future applications and relevance to the typical workplace. The Final Paper should also focus on real life, real time application of topics covered in this course; the uses you have seen and the uses you can envision.