Advanced Accounting Homework Help - Advanced Accounting Answers
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Advanced Accounting Assignment Help: Find Advanced Accounting Questions and Answers
Advanced Accounting Assignment Help
Any developed country today, as far as economy is concerned, considers the accounting system to be one of its most strategic entities. This is due to the fact that for smooth and efficient operation of any economy it's crucial to have an advanced accounting system in place. This is a rapidly growing field with many professionals and college students opting to study advanced accounting to enhance their careers or develop advanced skills in accounting
Advanced Accounting , a subject offered by many higher learning institutions, is essentially based on four functions such as; measuring economic activity, providing decision making information about companies' financial activities and reporting on transactions occurring within a company's environment. The institute where I have been studying this subject goes into further depth when explaining those four functions as; "measuring economic performance", "control over assets (stockholders)", "enforcing relevant taxes" and "providing data for external users". It also discusses the "IFRS (International Financial Reporting Standards) are revised every year".
The main goal of this subject is to prepare students for careers in businesses, government and not-for-profit organizations.
Students who complete a degree in business management or accounting can enter any one of these fields by making use of the skills developed during advanced accounting studies. They will be able to work as accountants, tax preparers, controllers and auditors.
Advanced Accounting also prepares students for CPA (Certified Public Accountant) licensure exams so they can start their own firm.
Students should know how to make an audit plan as well as present findings with investors at client meetings.
Many larger companies hire only those who have already passed the licensure exams. T
his means that students can expect good jobs and higher salaries if they have passed all the exams. It is possible to take the licensure exams before obtaining a bachelor's degree in accounting, but many employers prefer hiring a graduate with an accounting major.
Advanced Accounting distinguishes itself from introductory accounting because of its advanced theoretical methods, emphasis on analyzing information and application of research skills.
Essentially this type of accounting matter has more technical materials such as:
- IFRS (International Financial Reporting Standards) which requires knowledge of foreign languages, (here)
- auditing standards which are governed by AICPA (American Institute of Certified Public Accountants), (link)
- FASB (Financial Accounting Standards Board) (FASB page)
- SEC (Securities Exchange Commission), (SEC website)
- inventories which require knowledge of inventory costing systems and tax rules for corporations.
Advanced Accounting is a subject that provides students with many opportunities for high salaries, positions in businesses and successful careers after graduation.
Advanced Accounting Case Study: Advanced Accounting and Taxation in the United States of America Abstract:
Introduction:
The two case studies both address the issues of taxation in three different types of business structures with regards to being a proprietorship, S-Corporation or an C Corporation. Each structure with their own advantages and disadvantages must be examined to determine whether or not the entity is meeting their objectives overall.
Key Point #1: The first case study is about a proprietorship that has had serious losses for two years in a row, which leaves the owner with option to change business structure, merge into an LLC or continue moving forward as a proprietorship.
Based on current tax laws this business has three options:
1) Close down
2) Continue alone
3) Merge into an LLC.
Key Point #2: The second case study looks at how S-Corposations (also known as Subchapter S Corporations) are taxed compared to C-corporation in regards of who has responsibility for paying taxes based on gain/losses from operations and net income/net losses.
Key Point #3: The third case study is about a new company that was started in the year 2013, and this company also has three options of business structure:
1) Close down
2) Continue alone
3) Merge into an LLC
This case study analysis addresses taxation issues of various entities operating domestically for domestic and international purposes.
The entity can be single member limited liability companies or corporations, it does not matter as long as they are operated within the United States of America.
For example there are two principles to taxation which is tax should be paid on income gained from selling a product or service or tax should be paid on profits.
The two case studies are about one business that has losses for two years in a row which makes the owner interested in changing the structure of the business, whether to become an LLC and continue operations or shut down.
The other case study is about a new company formed on 2013 that may want to consider joining into an LLC as well and considering it's best structure for future growth.
Key Point #1: This article discusses how taxation at international level can apply when goods are being sold overseas through online stores such as Amazon.com or eBay.
Key Point #2: This article addresses the issue of taxation from businesses operating domestically for either their domestic purposes, or for accounting purposes as well because they must meet bookkeeping requirements.
Key Point #3 This article addresses the issue of taxation from businesses operating domestically for either their domestic purposes, or for accounting purposes as well because they must meet bookkeeping requirements.
Advanced Accounting Assignment Help, Homework Questions & Answers
Here are services related to this topic:
- Accounting information system assignment help
- Tax accounting assignment help
- Managerial accounting assignment help
- Financial accounting assignment help
- Cost accounting homework help
- Myaccountinglab answers
- Accounting homework help
- Finance homework help
- Capital budgeting homework help
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- Bookkeeping: A bookkeeper is a person who records the daily transactions of a business or organization as they happen and maintains these records on paper or computer systems. This type of transaction involves money, goods, property; therefore, it falls under the legal terms known as "accounting" or "bookkeeping." A bookkeeper performs essential work within each business such as ensuring cash flow, managing inventory levels and handling payments. A person who is interested in the business of bookkeeping may become a Certified Public Accountant, or CPA.
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