Discussion paper— Quality Of A Financial Statements
Overview Accounting Practices for Managers :
The course provides students with the basic framework of accounting practices from the perspective of nonaccounting managers. Students will look at fundamental financial and managerial accounting principles and link individual and unit operational goals to the financial requirements of an organization. Students will also understand when and how to use various analytical approaches based on the kinds of decisions needed and the particular stakeholders to be addressed.
Module Readings:
Complete the following readings early in the module:
•Read the online lectures for the Module
•From the textbook, Accounting for Managers: Interpreting Accounting Information for Decision Making, 5th, read the following chapters: ◦Chapter 1: Introduction to Accounting
◾Chapter 1 textbook Microsoft PowerPoint slides ◦Chapter 2: Accounting and its Relationship to Shareholder Value and Corporate Governance ◾Chapter 2 textbook Microsoft PowerPoint slides ◦Chapter 3: Recording Financial Transactions and the Principles of Accounting
◾Chapter 3 textbook Microsoft PowerPoint slides More in-depth optional readings:
•From the textbook, Accounting for Managers: Interpreting Accounting Information for Decision Making, 5th, read the following chapters: ◦Chapter 4: Management Control, Accounting, and its Rational-Economic Assumptions
◾Chapter 4 textbook Microsoft PowerPoint slides ◦Chapter 5: Interpretive and Critical Perspectives on Accounting and Decision Making
◾Chapter 5 textbook Microsoft PowerPoint slides
Assignment:
Financial statement fraud is common these days. Phrases like “earnings management,” “cookie jar accounting,” and “accounting hocus-pocus” have entered our vocabulary. There have been innumerable instances of financial statement fraud perpetrated by many well-known companies over the years. These frauds not only result in a company’s financial loss but also damage the company’s reputation and brand and affect employee morale. In the role of a nonaccounting manager, you need to understand what your role is in the overall fair presentation of financial results.
In this assignment, you will recommend policies to avoid financial statement fraud and ensure the quality of financial statements.
Tasks:
•Use the Argosy University online library resources and find at least three scholarly journal articles. These articles will help you identify what can go wrong with financial reporting and how this should be prevented.
•Comment on at least three potential problems in reporting accounting information, including a specific example of earnings management. Note that all examples should be about specific company fraud.
•Articulate specific policies with respect to the discussed problems that will provide assurance that the financial statement is free from fraud and can be relied upon
Submission Details:
By the due date assigned, post your response to the Discussion Area
Write your initial response in 300–500 words. Turned-in on time, Plagiarism Free, All assignment qualifications addressed correctly, Grading Criteria followed, Include Question followed by the answer Reference Page Included Cover page Included, Paragraphs Indented, Running-head included, main heading should be centered; all new paragraphs should be indented; paper should be right ragged, not right justified; references, should always go on a standalone page. abstracts are not usually indented; acronyms should be spelled out when using them for the first time, for example HR. references as listed are APA standard. When you submit your papers through turnitin.com, your overall similarity index score should not be exceedingly high, with ten to fifteen percent being the maximum, Please make sure your APA formatting of citations. I have provided the APA resource cite for you. https://owl.english.purdue.edu/owl/resource/560/01, Please work on using literature within the span of the last 5 years, keep in mind there should not be any one, two, or three sentence paragraphs. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation
Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation
Do the following when responding:
•Read your answers.
•Provide substantive comments to posts by ◦contributing new, relevant information from course readings, Web sites, or other sources; ◦building on the remarks or questions; or ◦sharing practical examples of key concepts from your professional or personal experiences
•Respond to feedback on your posting and provide feedback to ideas.
•Make sure your writing ◦is clear, concise, and organized; ◦demonstrates ethical scholarship in accurate representation and attribution of sources; and ◦displays accurate spelling, grammar, and punctuation.
