Analyzing current issues in accounting . Consider the list of current and classi
ID: 2400210 • Letter: A
Question
Analyzing current issues in accounting. Consider the list of current and classic issues in accounting presented below (or others specified by your instructor). With your instructor’s help and guidance, form a team of students to investigate one of the issues. Use the Steps for Better Thinking to analyze the issue and prepare a short oral report for the class.
e.What systems documentation techniques should be taught in AIS courses?
f.Has the conceptual framework of accounting fulfilled its purpose?
g.What issues should managers consider with regard to corporate governance?
h.Should social and environmental reporting be mandatory?
i.How, if at all, should fair-value accounting be implemented?
E - I only please
Chapter 15 Decision-MaktngMdels and KnouleeeMk 6. Analyzing current issues in accounting. Consider the list of current an in accounting presented below (or others specified by your instruct instructor's help and guidance, form a team of students to investigate o Use the Steps for Better Thinking to analyze the issue and prepare a s for the class. a. associated with adopting Financial Rep b. Should tbe provis ons of the Sarbanes Oxley Act be extcade toob c. Will principle d. Has the 150-hour requirement for becoming a CPA been a euccess? e. What systems documentation techniques should be taught in AlS counse f. Has the conceptual framework of accounting fulfilled its purpose? g. What issues should managers consider with regard to corporate governa h. Should social and environmental reporting be mandatory? i. How, if at all, should fair-value accounting be implemented? accounting become the norm for U.S. GAAP? tion decision using SBT home pet care cExplanation / Answer
e) System Documentation techniques used during accounting courses are
1. Documentations- Documents are used to represent towards students which are prepared according to GAAP rules. transactions should be duly entered in documented accounts related with debit and credit. transactions should be fully narrative. Narrations are helpful for understand about transaction. Those are in simple language so every one will be understand about transaction from this simple wording even though don't know about accounting rules. Documents are helpful for students to understand about entries regarding transactions in books of accounts.
2. Introductory lessons with basic definitions- Introductory lessons are necessary for students to understand basics of accounts, rules which are followed for prepare accounts. major definitions of accounts should be cleared previously to students for further processing of accounts.
3. Graphical Representations- Accounting data should be graphical represented through data flow diagrams and flow charts. For example data entries starting from journals. So first step for prepare accounts is journal, the flow is in the way as
journal
ledgers
trial balance
Other books like cash book, purchase book, sales book Prepare simultaneously.
Final Accounts
Manufacturing account
trading Account
Profit and Loss Account
Balance Sheet
This Flow of preparing accounts can be represents through flow diagrams for make it more understanble to students.
4. Presentations- Presentations is computerises method for teaching. students like more this method because it make intersting by using pics and other desings while preparing. when students get bored from long lectures, then they can be satisfied with presentations.
5. Guest Lectures- Organise guest lectures by various persons having accounting profile jobs are knowledgable for students. They can learn about presently used different techniques and advanced softwares used in accounting. They can also work as an aspiration for students.
6. Practical training- Practical training is important for implementation of knowledge into work, helpful for inhance skills. Organisation should provide students practical training for their improvement and career purposes