This website uses cookies to ensure you have the best experience. Learn more

Accounting Research Essay

934 words - 4 pages

Evidence from Vietnam of Public Sector in Current Conditions
In recent years, Vietnam has made a significant progress in completing the legal system in general and the regulations on accounting and auditing in particular, including the regulations to ensure the efficient management of public expenditure and to create a more favorable environment for the operations of the public sectors (Kara, 2012). The actual implementation of current legal framework of accounting in public sectors, however, shows the lack of consistency among the accounting system of state budget revenue and expenditure, the accounting of entities financed by the budget (general budget fund), and the accounting of ...view middle of the document...

The differences between public sector accounting in Vietnam and International Accounting Standards:
* Subjects of application. Accounting in the state of Vietnam (hereinafter referred to as the state accounting) is applied in: entities having state budget revenues and expenditures, administrative agencies, and public service delivery entities using state budget; public service delivery entities not using state budget; and financial funds of the state. State accounting does not apply to state-owned enterprises and other enterprises of all economic sectors. Meanwhile, the international standards are applicable to: the central government and the regional governments; local government and its subordinate entities; and entities providing public services regularly funded by the state. State is responsible for the assets and debts upon bankruptcy. Public accounting standards do not apply to state-owned enterprises and organizations not regularly funded by the state to maintain continuous operations.
* Scope of consolidated financial statements of the government. Vietnamese state accounting has regulations on the state budget settlement reports but has not set the content, forms, and methods of consolidated financial statements of the government. But according to the international public sector accounting, all entities under the control of the government include entities both inside and outside the country; and government agencies which are responsible for the assets and liabilities upon dissolution and bankruptcy are incorporated in the financial statements of government. In addition, the reports for summary and consolidated information of all levels in the governments are unable to perform at the current time.
* Application of the accounting basis. Entities in Vietnam are applying different accounting bases. Entities having state budget revenues and expenditures are applying cash basis accounting with adjustments (also tracking advances, receivables, and liabilities). Public service delivery entities are applying accrual basis accounting with adjustments (full recording of receivables, liabilities, and depreciation of fixed assets but not yet included in operating expenses in the accounting period). International public...

Other Essays Like Accounting Research

Accounting Essay

2404 words - 10 pages $343.5 million after-tax write-down of operating assets within the company’s non-core businesses. On a pre-tax basis, these charges totaled $600.1 million. The dollar amounts are staggering and the future implications far reaching. Since this approach was introduced by IBM in 1995 these charges have become commonplace for acquisition accounting. A popularity, largely due to the level of room allowed in research and development estimations. The Third

Accounting Essay

2152 words - 9 pages ], 21(5). Available: http://onlinelibrary.wiley.com.simsrad.net.ocs.mq.edu.au/doi/10.1002/jcaf.20605/pdf [Accessed 5 October, 2014]. BHIMANI, A. & WILLCOCKS, L. 2014. Digitisation, ‘Big Data’ and thetransformation of accounting information. Accounting and Business Research [Online], 44(4). Available: http://www.tandfonline.com.simsrad.net.ocs.mq.edu.au/doi/pdf/10.1080/00014788.2014.9 10051 [Accessed 4 October, 2014]. LEE, L. S. & JR., R. D. M. 2012

Accounting

1993 words - 8 pages Maytag they sales became higher for the company than in 2005. Week 4 Read ATC 7-5 in Chapter 7. This situation is very similar to what a company called Enron did several years ago. Use the internet or the university library to research exactly what Enron did in their accounting procedures and what eventually happened to the company. Post your findings and understanding of Enron’s story and respond to two other students’ postings with enhancements

Accounting - 1173 words

1173 words - 5 pages land) is also used to determine the amount of depreciation expense reported on the income statement. The accumulated amount of depreciation is also reported as a deduction from the assets' historical costs reported on the balance sheet. (In the case of impairment, some assets might be reported at less than the amounts based on historical cost.)” (AccountingCoach) According to my research, British Airways reviews the residual values of its

Accounting - 4330 words

4330 words - 18 pages ACC 312 Fundamentals of Managerial Accounting Midterm Exam 1, Spring 2014 Test Form A SOLUTION Name ______________________________________________________________________ UTEID ____________________________________ Instructor ____________________________________________ Class Days ___________________ Time ______________________ DO NOT OPEN until given instructions to do so. Instructions Pages are numbered sequentially, including

Accounting - 4324 words

4324 words - 18 pages company and in this aspect BAT Malaysia affect directly as the county government fully support. 4.2.3 Social and cultural factors: According to research more than 50% of Malaysia population consume tobacco products. And as the life style is changing which leads to increase the smokers in Malaysia. Now, according to social and cultural attitude Malaysian young generation consume more tobacco than other groups which increase the

Accounting - 2684 words

2684 words - 11 pages | | | |Accounting principle changes; changes |11 |10, 15 |5, 7, 8, 9 | | | |in estimates; errors. | | | | | ASSIGNMENT CLASSIFICATION TABLE (CONTINUED) | |Brief Exercises

Accounting - 5810 words

5810 words - 24 pages residents below the age of 16 and 7,706 senior residents (65 ). The median household income is $63,695.41 Of the approximately 49,534 employed residents 16 years and older in the 60657 zip code area (as of the 2000 census), 64 percent are in “management, professional, and related occupations.”42 seek assistance from a local college or Small Business Development Center for the Web site and market research assistance. When the Pet Élan storefront

Accounting Thoery

2074 words - 9 pages profitable firms attract media and consumer attention. This attention can create an increase in taxes and other regulations. These three hypotheses form the cornerstone of Positive Accounting Theory. They all lead to empirically verifiable predictions. 8.3 Empirical PAT Research Positive accounting theory has created a large amount of empirical research. Lev’s research helped us understand why firms choose the accounting polices they do

Forensic Accounting

4859 words - 20 pages exists on the relationship between forensic accounting and fraud detection. The Table 2 shows the methodology, sample and main findings of these studies. MATERIALS AND METHODS Research design: The choice of design in any research depends on the purpose of the problem and variable alternatives for the problem of that nature. This study is descriptive; hence the cross sectional survey design was employed. The design is considered appropriate for the

Accounting Theory

3331 words - 14 pages . Accounting Horizons. Vol.17 (3), 207-221. * Watts, R., 2003b, Conservatism in accounting part ii: Evidence and research opportunities. Accounting Horizons. Vol.17 (4). * Watts, R.L. and R. LaFond, 2006, The Information Role of Conservative Financial Statements. MIT Press, Cambridge. * Zhang, X.J., 1999, Conservative accounting and equity valuation, Journal of Accounting and Economics, Vol.29, Issue 1, February 2000, pp.125-149

Related Papers

Accounting Information Systems Research Paper

3295 words - 14 pages Accounting Information Systems Research Paper Abstract The Sarbanes-Oxley Act of 2002 (SOX) was enacted into law in 2002 in the wake of corporation financial reporting scandals involving large publicly held companies. SOX instituted new strict financial regulations with the intent of improving accounting practices and protecting investors from corporate misconduct. SOX requires corporate executives to vouch for the accuracy of

A Research On The Management Accounting Environment

1788 words - 8 pages Management Accounting Environment Introduction Every organization small, medium and large needs someone to be in charge of day to day activities that is going to be responsible for decision making, planning, controlling, directing personnel, outlining organization structure and will be responsible for taking strategies in competitive advantages. In today’s business environment, corporate organizations need to take every advantage they can

Accounting Essay 1305 Words

1305 words - 6 pages AN OVERVIW OF CREATIVE ACCOUNTING AND WINDOW DRESSING Introduction: Every organization is expected to operate within the confinement of best practices or core competence at least, which has tendency of leading them to distinctive competence or exceptional practice. Since business operations center basically on finance, firms therefore take the accounting records of their organizations very serious as it determines their stay in industry or

Accounting Essay 581 Words

581 words - 3 pages as follows. Section II discusses the background of IFRS adoption in Europe. Section III reviews prior research and provides the basis for interpreting the market reaction to each event. Section IV describes our data and research design. Section V presents our empirical results, and Section VI presents sensitivity analyses. Section VII concludes. Literature review Debates about financial reporting and accounting standards can seem arcane