Essay about Purposes of Measuring and Reporting Systems for Companies

2.1 Introduction Good company reporting is absolutely necessary and vital as it provides valuable information to its shareholders, creditors and other stakeholder groups who may have the interest in knowing the position of the companies and their activities. It is equally important to maintain an equilibrium or balance between the cost of collecting and publishing the information and the cost of finding the information by the respective readers. It does not necessarily mean that adding bulks of…

them. And when it comes to spending money in IS and IT, it does not get too different. Companies ask themselves “Was the money spent in the implementation of the new IS worthy?” or in doubt if the benefits are equal or better than the money invested (Should I change my IS system? How can I know if the IS department is helping my company to improve its business or not?). For these and many other reasons, measuring the success or failure of IS not just in a financial perspective, but also considering…

According to O’Brien (1985) The Uniform Crime Reporting system (UCR) was developed in the 1920’s in order to create a system that would report crime uniformly across the many different jurisdictions in the United States. For the purpose of this paper I am going to discuss the debate between the relationships of the overrepresentation of minorities in crime statics and if the results are biased based on race. There is a debate regarding the accuracy of the statistics provided by official data resources…

What is Cost & Management Accounting Reporting Systems? Cost Accounting Reporting System deals with the process of tracking, measuring, recording and classifying the appropriate allocation of expenditure (financial and non-financial) for the determination of the cost of product or service in an organization and for the presentation of suitably arranged data for the purpose of control and guidance of management (Horngren et al, 2010). Costs are measured in terms of Direct Costs, Indirect Costs and…

Does a company need a noble purpose to be successful in the long run? In my opinion yes. There are many factors that plan in on whether a company will be successful or not, but having a noble purpose, I believe is the most important of all of them. Without a company having a noble purpose many things can happen, employees quit, lose customers, leaders may start heading down an un-ethical path. A company having a purpose can prevent many of these possibilities from happening. When a company does not…

1. There are three key measuring and reporting systems for any company. Describe each of these and their purpose: Cash Flow Statement: A cash flow statement is a month by month statement of anticipated cash in against cash out. They assess the amount, timing and predictability of cash inflows and cash outflows and are used as the basis for budgeting and business planning. It provides a sharper picture of a company's ability to pay creditors and finance growth. Each section of the cash flow statement…

when the carrying amount of a liability settled or carrying amount of an asset is recovered (AASB 112 Income Taxes, 2012) According to Harrington, Smith, & Trippeer (2012), deferred tax liability is created when an expense is deductible for tax purposes in the current period. Taxable temporary differences give rise to deferred tax liabilities when the carrying amount of assets is greater than its tax bases and when carrying amount of liabilities is lesser than its tax base. There is a difference…

been utilized for measuring success in IS is ISO/IEC 9126-1. This standard from 2001 was initially developed to measure software quality but its framework has been utilized in IS and IT measurement also. As defined by ISO in 2001, the six characteristics and 27 sub characteristics: • Functionality: The ability of the system to provide functions which meet stated and implied needs when the software is used under specified conditions; • Reliability: The capability of the system to sustain a stated…

inside an entity for accounting and taxation purposes, namely current tax consequences and future tax consequences. The purpose of this report was to identify and analyze the reasoning behind the responsibility of exploration and development costs (E&D) for the creation of a deferred tax liability (DTL) and its treatments for both accounting and taxation purposes. Moreover, the analysis was performed with reference to case study of Gravatt Ltd., a company operating in the mining industry where its…

Introduction The Citywide Performance Reporting (CPR) online system, which is part of the NYCStat framework. The CPR system has many capabilities and lucrative features that many people often associate with private businesses. This perhaps is at least in part informed by the work of business magnate and current New York City mayor Michael Bloomberg and/or his colleagues. The case study questions covering CPR will cover the major components of the system, the agencies that were involved with the…