Accounting Theories and Creative Accounting

Case Study
word limit 900-1200 wordsAnswer questions……………………………….

 

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Case Study – Individual Assignment

Assignment Title

Accounting Theories and Creative Accounting

 

Required Work, Format and Grading
You must submit the following by the assignment due date:

  • Completed answers to each task, making sure that you fully address each of the outcome criteria.

§  Answer all questions separately.

§  Assignments without TURNITIN report will not be accepted.

Resources:

You need to demonstrate a confident application of the theories to the assignment task. The theoretical underpinning of your observations and deliberations should also demonstrate a good understanding of the subject by the way that your analysis is structured.

You can access the Internet to research about the topic. You should demonstrate good academic practice by the appropriate use of academic texts and journals that are properly referenced.

Guidelines and further information about assignment:
Assignment must be submitted with the “Turnitin” report. If the report generated indicates a similarity index percentage of 20% or more, a review of your assignment is necessary to ensure the same is reduced to less than 20%.  

 

 

 

Student declaration:

I certify that the work contained in this assignment was researched and prepared by me:

 

Signature: ___________________________            Date: ___________________

 

Grades given are subjected to External Verification. No grades are Final

 

 

Submission time and date

You should submit the assignment by the time and date mentioned otherwise a ‘NA’ will be awarded. Fill in the form cover and staple it with your assignment. Make sure that all the relevant details are complete. Assignments must be submitted by the due date. You may include diagrams, figures etc without word penalty.

 

Plagiarism Writing

 

Summary

 

  1. Plagiarism occurs if you use somebody else’s work in an assignment or exam answer, but fail to state where you got the material from. You need to be also very careful about the amount of words you are using from somebody else’s work.
  2. It can happen in any type of assessment where you are given the questions or tasks in advance.
  3. If another student uses your work in his/her answer(s), both you and he/she will be punished when caught.
  4. Punishments for committing plagiarism can be very severe.

 

Details

 

Plagiarism is a form of cheating in which students use the work of others and present it as their own. It may include all or any one of the following –

 

  1. Copy extensively from the work of others (from sources such as books, magazines, journal, web-sites etc) and submit the work as your own.
  1. Copy another students’ work and submit it for assessment under your own name.
  2. Allow another student to copy your work and then submit it for assessment under their own name.

 

What happens if you get caught?

The examining body of CBFS may punish offending students in any manner that they deem fit. Typical punishments may range from reduction in grades, making students re-sit modules and even failing students on a module or an entire award. The college considers this form of cheating as a serious offence. Therefore be forewarned!

 

 

 

Case Scenarios: 1

‘The Evolving Dimensions of The Accounting Profession and The 21st Century Expectations’

(Jeremiah & Daferighe, 2019)

 

The dimension of the accountancy profession is undergoing an increasingly expanding and  unpunctuated global evolution. These 21st-century twists, however, tend to pose an identity threat to the profession. The much-celebrated software substitution of the traditional roles of the Accountant coupled with the apparent professional cross-carpeting of non-accountants aided by these emerging digital initiatives appears to ‘take-over’ the seat of the Accountant. The following roles were identified for the discussion.

Evolving Dimensions
THE 21ST CENTURY PERSPECTIVE THE FUTURE IMPERATIVES
The Accountant as a Corporate Pathfinder Embrace an enlarged strategic and commercial role
The Accountant as a Guardian of the Corporate Model Develop a global orientation
The Accountant as a Competent Communicator Reinvent the talent pool

 

Task 1: Explain minimum of ONE new skill set required for a modern Accountant from the list above or from your own choice.                                                                                         (5 marks: Word count- 300-400)

 

Case Scenarios: 2

‘Two accounting theories that help create the system investors and managers use today’ : Positive and Normative Accounting Theories.

Text 1 Text 2
if an organisation has had a highly successful financial year, the next year they will have the financial stability to boost investor dividend payments. This  theory  would deduce that corporate growth causes an increase in shareholder remittance. if a corporation has previously boosted investor dividend payments, and is now looking to reinvest funds into the firm to ensure its future viability through corporate sustainability measures, then theory   would point to issuing new shares as a source of funding

 

Task 2: Identify a positive theory and a normative theory from the list above and justify your answer by referring to the differences between two theories.                                     (5 marks: Word count- 300-400)

 

 

 

Case Scenario: 3

AbdulSalam LLC’s financial position as of 30th September 2020 is as follows:

 

Statement of Finanancial Position

 

Equity and Liabilities OMR’000 Assets OMR’000
Share capital 5260 Inventory : Raw Materials 2500
Debentures 1540 Inventory : Finish goods 3000
Net Profits 2500 Other assets 3800
  9300   9300

 

The company management has been decided the following ‘creative accounting’ measures:

 

  1. a) Inventory: Raw Materials – Increase the raw material inventory by OMR 300 000 to represent low provision for obsolete raw materials.
  2. b) Inventory: Finish goods – Decrease the finish good inventory by OMR 100 000 to represent damaged finish goods.

 

 

Task (3) Redraft the Statement of Financial Position as of 30th September 2020 to reflect the above Creative Accounting measures.                                                                                                                   (6 marks)

 

 

Task (4) Comment on the findings of task (3) above and make relevant recommendations referring to the below mentioned teaching nexus.                                                                      (4 marks: Word count- 300-400)

 

The Practice of Creative Accounting on the Jordanian Banking Sector: A Case Study in the Northern Region (Al-Dalabih, 2017)

 

(Total 20 Marks)

 

The end

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