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The Village

The Village film is set in Pennsylvania in the Covington village that is surrounded by a forest which the villagers believe is inhabited by creatures. The paper will focus on how the themes portrayed in the film describe a form of social reproduction.

To begin with, for years the creatures and the villagers have coexisted with watchtowers being placed to prevent the villagers from passing the borders, unfortunately, Lucius Hunt requests to be granted permission to enter the forest to retrieve medicine to save a friend; permission is denied. Unfortunately, despite the warning by the elders Lucius while on Patrol duty wanders and enters the forest leading to an attack by the creatures but he is not hurt. Later Lucius tells the elders of his marriage to marry Ivy a blind girl from the village but Noah who also had an eye for Ivy is distraught by the news and he attacks Lucius leading to him being locked up after his found with blood on his hands. The lack of medicine in the village results in Ivy requesting permission to go to the town which is beyond the forest so that he can save Lucius’s life. When Ivy embarks on her journey her father shows her costumes and informs her that the creatures do not exist and when she is attacked by Noah who has worn one of the costumes on his way he makes him fall in a pit where he dies. Later when he reaches the town a stranger helps her get the medicine and she returns back to the village (Ebert).

There are various themes un the film that depicts social reproduction which most scholars believe to be a process that ensures the social structure set in society continues over time (“Themes, Motifs & Symbols in The Village”). The first theme is isolation wherein the film we see Edwin Walker created the village after his father had been killed by the town people. They create the town to protect themselves from this happening on the outside side world, this can also be termed as the people fascination with mortality hence the village. Social reproduction is depicted in this film where we see Edward and the elders’ charade about the structures in the forest, there were not real but they used the stories to prevent the villagers from the curiosity and to protect them from the rest of the world.

Fear is another theme that has been explained in the film where we see the whole village is in fear of the creatures in the forest and they tend to adhere to the restrictions set by the society that requires nobody to go to the village. The fear instilled by the elders describe social reproduction since it ensures that no one can go to the forest without seeking permission, we see Lucius asking for permission twice. Also, when Ivy reaches the town we see her fear does not allow her to go to the town to buy the medicine but a stranger from the town, the social reproduction of what had happened to his grandfather plays a role in instilling that fear and in the continuity of it even after she is back at the village.

Moreover, the is the theme of Innocence whereby creating the town the elders have ensures that the villagers co-exist in not only peace but also that they neither experience or have knowledge of the real-world issues. This is meant to retain their innocence and emphasis the restrictions of going to the forest and the town since they are bound to lose the innocence, the social reproduction is that just the elders have ensured the villagers live in a fantasy world than the reality. This while ensuring that their innocence is maintained also prevents the villagers from their perception of the world being tainted by the outside world which explains the people ensuring that no one going to the reserve and that no airplane flies above the reserve.

Lastly, religion is a theme that is evident in the film. First, we see Edwin leading with a word of prayer and they only allow Ivy to go beyond the forest to get medicine for Lucius who had been attacked by Noah but not when Lucius wanted to heal the sick boy it depicts the fate of others that is evident in religion. The village itself also depicts the religion and the world today where they are various restrictions that must be exercised to ensure that one lives as stipulated, the creatures in the forest also represent the evil in the world that from Christianity we must refrain from. The social reproduction described in the theme ensures that the fear the villagers have of the creatures and the outside world ensures that they refrain from going to the forest and also destroys any curiosity they may have of the unknown.

From the above discussion, the village film despite being set in some centuries behind reflects the theme that the society today strives to achieve for its people, unfortunately with the advancement in the world today this has become harder and harder. Also, the various themes have all described the social reproduction where they have been employed to ensure that the structures the elders put in force are adhered to by the members.

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Works Cited

Ebert, Roger. “The Village Movie Review & Film Summary (2004) | Roger Ebert”. Rogerebert.Com, 2004, https://www.rogerebert.com/reviews/the-village-2004. Accessed 13 Mar 2020.

“Themes, Motifs & Symbols In The Village”. Dreamsofpaprika.Livejournal.Com, 2010, https://dreamsofpaprika.livejournal.com/91762.html. Accessed 13 Mar 2020.

Accounting cycle

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Introduction

Most organization finds it a necessity to have an accounting cycle process with the aim of processing and organizing information and statements regarding their financial position at the end of each accounting period. This enable the stakeholder to project whether it is running at lose or making profit. Accounting process is an ongoing activity in a company and it is done repeatedly at the end of each accounting period. The accounting process varies significantly depending on various aspects such as the size of the organization in terms of operations and the number of accountants.

As the company expands its operations, the account complexity widens. Similarly, the number of accountant may also determine the accounting process. Companies are obligated to process financial information and must have a dedicated personnel assigned accounting labor. To meet their objectives, accountant must strictly follow the prescribed step by step process referred to as the accounting cycle (Kieso,2007,12th ed., Vol. 2). Quality service tax Inc. is a family operated company that started in 1997. At inception, the company had only two workers and had a partnership of two individuals. The company has since developed and has employed three employees to facilitate their growing operation and demands from its clients. One individual is assigned to fully oversee accounting cycle adhered to. The recent development at Quality service tax Inc, is the introduction of the automated software which is meant to reduce the burden of book keeping.

Accounting cycle process

Acounting cycle is a systematic process that follows generic steps of identifying and recording of business transactions then summarizing it and finally reporting to the management. The accounting cycle has a chain relationship with the previous stage in the accounting life cycle. The following is the Accounting cycle steps employed by Quality service tax Inc (Intermediate Accounting 12th Edition, Kieso, Weygandt, and Warfield).

Identification of the transaction is the initial step that triggers accounting cycle by identifying the transactions to be recorded. This entails pointing out transactions that have an economic value and can be expressed in monetary terms (Kieso, 2007 vol1). All sale or purchase transactions must be recorded in the accounting book.

Journalizing entails capturing transactions in a general journal which indicate information such as liability, asset, capital and stockholders’. Moreover, it shows the consequence of transactions which are generated from asset, liability, equity, expense and income.

Posting accounts is the third practice which involves transferring transactions records from a journal to the ledger book. The general ledger is organized in such a way that, all related transactions are wrapped together and summarized. For example, the account named “PURCHASES’’ will collect all purchases for that period.

A trial balance is list of all accounts and their balances for a particular accounting period. At the end of an accounting period, the company prepares a trial balance of all accounts in the same order they were posted in the ledger account along with debit and credit balances. The summation on each columns, credit and debits, should be equivalent as conceptualized by the PRINCIPLE OF DOUBLE ENTRY that guarantees no omission and error free accounts.

Adjusting transaction entries involves addition of earned revenues and incurred expenses into the accounts. Ordinarily, it is conducted at the end of each accounting period to facilitate the organization in tracking its revenue and expenses. As an example, an entry might be needed at the end of the accounting period to record revenue earned but is yet to be entered on the books. Likewise, an adjustment could be required to record an expense that has been incurred but yet to be recorded.

Adjusting trial balance is another stage which aim is to ensure that no omission and error are cascaded from transaction adjustment entries to the accounting process. In case of unequal credits and debits sums or if incorrect account is encountered, the discrepancy is investigated and corrected.

The next stage is modeling financial statements directly from the final and account balances from the adjusted trial balance. This useful in the drawing of useful information such as balance sheet, income statement, cash flow statement and retained earnings statement.

. To avoid translating accounts of one period to another period, all completed accounts in one accounting periods must be closed. Once the accounts are closed, all accounts that have balances such as liability, asset, and capital accounts are carried forward to the next accounting period.

Prepare a post-closing trial balance which facilitates final testing of both the debits and credit sums equality to ensure everything is in order before moving to the next stage of the accounting life.

Use of QuickBooks software to automate account cycle process

Apart from minimizing errors, QuickBooks software can also be used to ease the tedious work in the book keeping perform accounting arithmetic very fast. Furthermore, transactions can be captured, accessed, and updated simultaneously and this allows multiple stages of the accounting cycle to be performed almost concurrently. Several stages can be combined to one stage. Generation of financial report is also instant. In computer based tools, we need not testing for the equality of both debit and credit columns because validation is done during data. Closing process at the end of the period can also be done automatically by the computer.(Kieso, 2007,12th ed., Vol. 1).

Conclusion

In spite of the existence of automated accounting software’s, experienced personnel are still crucial in the accounting cycle. They are important in analyzing the transaction data before entry into the computer. In addition, accountant’s understanding and conclusion are often required to establish and administer adjustments that are desirable at the end of the reporting period.

References

Hunt, M. F. (2007). Problem solving survival guide (Vol. 1). Hoboken,

NJ: John Wiley & Sons.

Hunt, M. F. (2007). Problem solving survival guide (Vol. 2). Hoboken,

NJ: John Wiley & Sons.

Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2007). Intermediate

accounting (12th ed.). Hoboken, NJ: John Wiley & Sons.

Kieso, D. W., Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2007).

Intermediate accounting study guide (12th ed., Vol. 1). Hoboken, NJ:

John Wiley & Sons.

Kieso, D. W., Kieso, D. E., Weygandt,J. J., & Warfield, T. D. (2007).

Intermediate accounting study guide guide (12th ed., Vol. 2). Hoboken, NJ:John Wiley & Sons.

Taxation and Jurisprudence:

Ethics

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Taxation and Jurisprudence:

Ethics of Tax Evasion

This paper presents response to the statement, “It is moral and ethical for Christians to practice tax avoidance by taking advantage of available deductions and credits. Tax avoidance is defined as the legal structuring of one’s financial affairs so as to optimize the related tax liability” (Raabe et al, 2009). Accordingly, the paper argues that tax evasion is immoral, especially for Christians as it goes against the teachings in the Bible.

Tax evasion has become a common incidence in America, as well as, the rest of the world. Most individuals and organizations are facing the law owing to the practice of tax evasion, which has been held responsible for some of the economic problems that society is facing today. In relation to ethics and morality, researchers and academicians have worked to prove the existence of legal and illegal tax evasion practices (McGee, 2004). Accordingly, this has generated plenty of debate regarding the practice of tax evasion, as a conclusion cannot be drawn on whether it is moral or ethical to practice tax evasion. Those in support of tax evasion argue form the point of this practice being a form of tax planning. That tax evasion involves the organization and planning of one’s financials in such a way that individuals are able to save more by getting rid of the tax liability. By doing so, individuals have the ability to be happy, which is the basis of all moral and ethical actions. The unethical nature of tax evasion is drawn from the concept that going against the law is immoral (McGee, 2004). In addition to this, the overall financial system is reliant of taxation, and for that reason, tax evasion is unethical and immoral because it disrupts proper functioning of individuals in a society.

Religious teachings also support the notion that tax evasion is immoral and should not be practiced at all. For example, Mark 12:16-17 states, “and he asked them, “Whose face and name are these?”… “Caesar,” they answered. So Jesus said to them, “Well, then, Give to Caesar what belongs to Caesar to and give to God what belongs to God” (New Living Translations). This verse is a clear illustration of the religious attitude towards payment of taxes. Paying taxes is one of Jesus’ commands to Christians. From a religious point of view, Individuals are expected to pay taxes at all times, and for that reason, those individuals that practice tax evasion can be said to be committing a sin through tax evasion. Paying taxes and living in accordance with the requirements of the law is part and parcel of daily living as illustrated in the bible and other religious books. For that reason, tax avoidance is immoral and unethical, as it goes against the requirements of both the law and religious teachings.

Tax evasion is considered as religiously immoral and unethical because it is a form of stealing, and it is a show of disobedience to God. Accordingly, tax evasion is an illustration of individuals breaking at least two of the ten commandments by God. In addition to the religious attitude towards tax evasion, accountants and economists support the immoral and unethical nature of tax evasion by explaining its social and economic implications, which are detrimental to society (Raabe et al., 2009). Tax evasion is immoral and unethical, and should, therefore, not be practiced at all times.

References

“Mark 12:16-17”. New Living Translations. Retrieved from:

http://nlt.scripturetext.com/mark/12.htm

McGee, R. (2004). The philosophy of taxation and public finance. New York: Springer.

Raabe, W. et al. (2009). South-western Federal Taxation 2010: Taxation of Business Entities,

With Taxcut Tax Preparation Software. United Kingdom: Cengage Learning.

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Questions 1

The real interest rate can be described as the theoretical rate of return on investment an investor is expecting to receive after allowing for inflation. On the other hand, the nominal interest rate (risk free) can be described as rate of return on investment attained prior to inflation adjustments.

The two differ in the sense that with the real interest rate, the effects of inflation has been accounted for whereas with the nominal interest rate, the effects of inflation have not been factored in. The real interest rate is calculated by adjusting the nominal rate that has been charged to factor in inflation. The real interest rate is roughly the nominal rate less the inflation rate. This can be illustrated mathematically as:

Real interest rate = Nominal Interest rate – Inflation

Therefore, the above explanation shows that Nominal interest rate is measured in monetary terms while real interest rate is measured in real terms. The relationship that exists between

(1+r) (1+i)= (1+R)

Question 2

Total risk is a combination of systematic risk and unsystematic risk, as indicated below

: Total risk = systematic risk + unsystematic risk.

Where systematic risk is the total risk of a diversified portfolio while the unsystematic risk is the risk that can be removed by combining assets into a portfolio

Question 3

The expected rate of return on a portfolio of shares does not depend on the percentage of portfolio investment of each share. This is because the main elements that affect expected return are time value of money, reward for bearing systematic risk and amount of systematic risk. Therefore the percentage of portfolio investment of each share has no implication on the expected rate of return on portfolio.

The riskiness of the entire portfolio, affects the expected return since it is equivalent to the systematic risk, which is one of the factors affecting the expected return.

Question 4

The capital asset pricing model is a model that explains the relationship between risk and expected return which is employed in the pricing of risky portfolios (Shapiro, 2010, Pp5). The capital asset pricing model postulates that all investors:

have equal access to all securities

are price takers (investors behave competitively)

have sufficient investment information available to them at the same time

trade devoid of taxation costs

are rational as well as risk-averse

aim at maximizing economic utilities

are largely diversified across a range of investments.

can lend as well as borrow unrestricted amounts under risk-free interest rates

Question 5

There is a difference between real asset investment and financial asset investment. This is because in real asset investment there is no fluctuation in returns while in financial asset investments, the expected returns always fluctuate depending on the market conditions.

The above statement relates to real asset investment decisions in a way that managers usually prefer to invest on real asset investments as opposed to financial investments. This is because when making corporate budgeting decisions managers prefer investing more on assets that have stable returns.

Question 6

The discounted cash flows (DCF) concepts are so important to corporate financial analysis because nearly all financial decisions made by a corporation involve future cash flows. The DCF concept applies to every situation in which money is paid and received and is therefore one of the most essential concepts to any corporation’s financial decision making.

Question 7

The four steps carried out in a DCF analysis are:

Estimating future cash flows: This is the first step carried out in a DCF analysis and involves projecting the expected cash flow for the corporation for a given period of time based on postulations regarding the corporation’s revenue growth rate, fixed investment requirement, income tax rate, net operating profit margin, and incremental working capital requirement.

Assess the riskiness of the cash flows: The next step performed in a DCF analysis is assessing the riskiness of the cash flows. Assessing the riskiness of the cash flows is important as risk is a significant factor especially when the financial decision being reflected on involves some statistically considerable probability of loss. Risk assessment is normally done in accordance to the principle that investments ought to compensate the investor in proportion to the level of risk taken as a result of investing.

Incorporate the risk assessment into the analysis

Find the present value of the flows: In this step, the corporation’s weighted average cost of capital is used to discount the projected cash flows during the Excess Return Period in order to obtain the corporation’s Cash Flow from Operations. The weighted average cost of capital is also used to calculate the corporation’s Residual Value. To this, the value of Short-Term Assets on hand is added to obtain the Corporate Value.

Question 8

The value of an asset can be determined by the use of divided growth model. In divided growth model, dividends are normally expected to increase at a fixed percentage per period. Determination of value of an asset can therefore be illustrated as:

Po = D1 ∕ (1+R) + D 2 ∕ (1+2)2 + D3 ∕ (1+3)3 …………

Po = Do (1+g) ∕ (1+R) + Do (1+g) 2 ∕ (1+R) 2 + Do (1+g) 3 ∕ (1+R) 3 + ……………

The above illustration can be illustrated as:

Po = Do (1+g) ∕ R-g = D1 ∕ R-g where Po is the current value of an asset, Do is the dividend to be paid, g the percent gain on dividends and R the rate of return on assets.

Question 9

The opportunity cost concept refers to the best option that is forgone when a particular decision of investment is made. For instance if a person a certain amount of amount of money like $40,000 that they want to invest , the person can select Share A or Share B, the difference in the dividends that exists between the two shares is the opportunity cost. For instance if share A has a 8% divided and B has 3% divided the opportunity cost is 4%.

Question 10

A perfect capital market can be described as a market in which there are no any opportunities for arbitrage(when the sale and purchase of a security occurs simultaneously within diverse markets with the objective of making profit that is risk free through exploitation of price differences that exist between markets).In a capital market , costless and sufficient information available is to all investors and no firm or individual is big enough to affect prices since assets are priced with full efficiency (Harley & Shall, 1979, Pp 15).

The concept of a perfect capital market is used in the financial theory essentially in the theory by Modigliani and Miller. According to Modigliani and Miller a perfect capital market is characterized by investors having information upon which they can act rationally in order to arrive at similar expectations concerning future earning and risks.

Question 11

Bonds are mainly characterized by the following features:

Interest Payments: bonds normally offer some form of interest payments. However, this depends on the structure of the bonds. For instance, the Floating Rate Bonds have invariable interest rates that are periodically adjusted while the Zero Coupon Bonds make no periodic interest payments at all.

Specified maturity dates: bonds have specified maturity dates on which the principal (per value) has to be paid.

Credit Ratings: One is able to evaluate the default risk (the probability that the issuer won’t be able to make principal payments) of a bond by checking the ratings as provided by the bond rating agencies such as Moody’s Investors Service or Standard and Poor’s.

Question 12

The Efficient Market Hypothesis (EMH) is a hypothesis of financial economics that argues that prices of traded assets such as bonds, properties and stocks within financial markets should always reflect the available information and are therefore unbiased based on the fact that they reflect shared beliefs of all investors regarding future prospects.

There are three major forms of the hypothesis: weak, semi-strong and strong. The weak form of the hypothesis argues that current prices on traded assets such as bonds, properties and stocks fully reflect all past readily-available information. The semi-strong form argues that prices reflect all the public available information and that prices on traded assets instantaneously change to reflect new public information. The strong form of the hypothesis additionally contends that asset prices instantaneously reflect even privately-held information.

Question 13

The key features of a common share or stock include;

Limited Liability; In case a person invests on stocks his or her liability is limited to invested stocks. They are not obliged to pay any other amount in case bankruptcy occurs.

Voting Rights: Each stock carries a voting right. As a result common shareholders are entitled to vote on various issues concerning the corporation, with every stock entitling the shareholder to a vote.

Dividends: Common shareholders are also entitled to receive dividends, if /when approved by the company’s board of directors.

Dissolution and Liquidation: In case of dissolution or liquidation of the company/corporation, its common shareholders always have a final claim on the corporation’s assets.

Merger Consideration: Incase a corporate merger endorsed by shareholders, they are entitled to receiving final consideration for the shares that they own.

Common stock and preferred stocks are different in two major aspects. First, preferred stakeholders have a greater entitlement to a corporation’s assets and earnings. Second; the dividends of preferred stocks are generally greater as well as different from those of the common stock (King, 1999, PP1).

Question 14

A project’s NPV can simply be described as the sum of individual present value of the yearly cash flows. It consists of the summation of a series of discounted cash flows subsequent to the cash flows that occur throughout the projected life of a particular project. A project NPV can be illustrated mathematical as:

NPV = ∑Tt-1 Ct ∕ (1+r) t – Co, Where Ct is the current cash flow, Co, the initial cash flow, T time period and r the interest rate.

Where:

Io = the initial outlay

Ct = the net cash receipt at the end of year tr = Rate of return on investment

n = Duration of the investment in years

The rationale behind the NPV method is to enable a particular project to generate enough cash flows so that it is able to recover the cost of the investment as well as to enable the investors to earn their required rates of return.

According to NPV, projects that add to the shareholders wealth ought to be accepted if they qualify as independent. If the projects are mutually exclusive, then the one that adds that adds more value to a firm should be accepted as independent.

Question 15

Capital budgeting is an investment decision making process used by corporations (or a business) to evaluate whether a potential project, for instance, developing a new plant, is worth undertaking; by assessing their cash flows and inflows so as establish whether the returns generated meet sufficient target levels (Drake,2007,Pp1). Within the context of the capital budgeting process,” Risk” means the uncertainty in relation to a project’s future profitability (Drake,2007,Pp 2).

Question 16

The three types of risk relevant to capital budgeting are; Market risk, the standard alone risk and the portfolio risk.

Market risk is a risk that causes a decrease in the value of an investment or a portfolio. Some of the market risk factors include economic changes, changes on interest rates and inflation. The market risk is measured using the impact of the project on the firm’s beta.

The stand-alone risk is a projects risk in situation whereby the project is perceived in Isolation. The stand- alone risk is measured through evaluating the inconsistencies that exist in the projects expected returns.

Portfolio risk is a projects portfolio that has a certain level of risk. The portfolio risk is measured by the degree of change that occurs in a new project and the change on the portfolio of the existing project.

The three risks are related in the sense that they can yield several possible outcomes when making capital budgeting decisions. Risks are basically uncertain conditions in which firms are supposed to operate under. As a result capital budgeting decisions are using not based on precise forecasts because the forecasts can change due to the influence of any of the three types of risks.

Question 17

Yes. Other subjective risk factors that are supposed to be considered before making the final decision include; the option to abandon the project , contingency planning , the option to wait , the option to expand and strategic options.

Works Cited

Drake, Pamela, Capital Budgeting and Risk, 2007.

Holton, G.A, Efficient Market Hypothesis, Retrieved on January, 20, 2011, 2012 from HYPERLINK “http://www.riskglossary.com/link/efficient_market_hypothesis.htm”http://www.riskglossary.com/link/efficient_market_hypothesis.htm, 2006.

Haley, Charles.W & Schall, Lawrence.D, The theory of Financial Decisions, 1979.

Economy-point.org, Perfect capital Market, Retrieved on January, 20, 2012 from HYPERLINK “http://www.economypoint.org/p/perfect-capital-market.html”http://www.economypoint.org/p/perfect-capital-market.html, 2011.

Ryan, Bob, Strategic Accounting for Management, Cengage Learning EMEA, 1995.

Shapiro, Alex, 2010, Foundation of Finance: The Capital Asset Pricing Model (CAPM).

King, John B, What are the Characteristics of Common Stock? 1999.

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Accounting Theories and Practice

Introduction

Corporate social responsibility is one of the core aspects in a business; however, it has multiple definitions with many businesses and firms framing dissimilar definitions based on their understanding. Basically, corporate social responsibility is about how a company manages the business processes to produce an overall positive impact on the society; furthermore, it is through this that organizations are able to establish the quality of their management (both in terms of people and processes), and the nature of, and their impact on their society in the various areas.

Today, most stakeholders and shareholders take an increasing interest in the activity of a company. Generally, the CSR field is all about profits, political performance, social demands and ethical values; additionally, it covers a wide scope of theories and approaches that are used to guide companies and organizations in enforcing or performing its social responsibility.

Part One: Shareholders and Stakeholders Theories

There a number of stakeholders and shareholders theories that relate to corporate social responsibility; mainly these theories affect the relationship between a company and its shareholders and stakeholders (Mahoney et. al, 2013, 352).

Legitimacy theory – emphasizes that firms and organizations continually seek out to make sure that they operate within the bounds and norms of their respective societies which explains why they try to ensure that their activities are perceived by parties from outside hence maintaining legitimacy. However, the bounds and norms are known to change frequently hence requiring the organization to be responsive to the environment in which they partake their activities.

This theory relies on the aspect that there is a social contract between a particular organization and its society; concurrently, the contract is the concept used to represent the multitude of implicit and explicit expectation that the society has on how the organization should conduct its operations.

Stakeholder normative theory – The ethical and normative perspective of this theory puts much attention on the notion that its every stakeholder’s right to be treated fairly and viewed equally by an organization, and that matters of stakeholder power are not directly pertinent.

Universal Rights- Over the years, human rights have been taken as a basis of corporate social responsibility especially in the international market and recently, a number of human rights based approaches have been brought forward on the same. Basically, this theory defends the existence of natural human rights; however, many people do not take them seriously but they have a theoretical grounding with some moral philosophy giving them support.

Sustainable Development – This has become popular and necessarily because it is an approach that evolved at macro level and not the corporate level; typically it demands for corporate contribution requiring the integration of social, environmental and economic considerations to make balanced judgements and decisions for the long term.

Significantly, achieving corporate sustainability is a custom – made process/ task and each corporation should select personal ambitions and approaches to do the same; moreover, these approaches should meet its aims and be in line with the strategy for the sake of the organization’s operations.

The Common Good Approach – This is a less combined approach if compared to the stakeholder approach though it hold the regular good of society as the referential value for corporate social responsibility with its stress of the business together with any other social group or individual should contribute to it. This theory can be enhanced by creating wealth, providing goods and services in an effectual manner and respecting the dignity and right of every individual; additionally, it campaigns for the social well being and a harmonic way of living together in just peaceful and friendly conditions today and there after.

Part Two: Positive Accounting Theories

The positive accounting theories include: instrumental theories, political theories and integrative theories.

Instrumental Theories

There are three main groups identified in the instrumental theories and these include:

Maximizing Shareholder Value – This approach takes the straightforward contribution to maximizing the shareholder value as the supreme criterion to evaluate specific corporate social activities where it is used in decision making. Today not many shareholders are interest in value maximization alone and it is through this concept that a firm sets the objective of long term value maximization or value-seeking (Elisabeth &Domenec, 2004, 53).

Strategies for Achieving Competitive Advantages

Social investments in competitive context- This theory entails spending on humanitarian activities as the only way to develop the framework of competitive advantage of a corporation and mostly forms bigger social value than most individual sponsors or the government can.

Natural resource based view of the firm and dynamic capabilities- Maintains an organizations ability to be ahead of its competitors; moreover, this is facilitated by other factors like the unique interaction of human, organization and physical resources over time.

Strategies for the bottom of the economic pyramid- In the past, most business line of attacks concentrated on aiming products at upper and middle-class people in contrast to the biggest portion of the world’s population is poor or lower-middle class and it is from this that it has been decided that disruptive innovations can improve the social and economic conditions at the base of the pyramid (Brennan and Merkl-Davis, .

Cause Related Marketing

Basically, this is the procedure of formulating and implementing activities involving marketing, and these activities are characterized by an offer from an organization to offer a particular amount to selected cause when consumers are involved in revenue providing exchanges that meet the needs and aims of both the organization and individuals.

Political Theories

Significantly, this is a group of theories and approaches that put most of the attention on interactions and connections between the comprehensive business and the society characterizing the dissimilar responsibilities. They include:

Corporate Constitutionalism – entails two principles of social power equation and the iron law of responsibility that are used to run a business given the different limitations and its impact on the society.

Integrative Social Contract Theory – It has been assumed that there is a sort of contract between a business/ organization and the society that implies some indirect obligations of business towards society; considerably, this approach is based at overcoming some limitations of deontological and teleological theories applied in any business environment.

Corporate Citizenship – This is simply a new understanding of the duties of a business in society and depending on which way it is defined, the idea is also widely expressed in conjunction with other theories that also cover the businesses responsibilities.

Integrative Theories

This is a group of theories that evaluate on how business incorporates social demands, elaborating on the fact that a business depends on the society for its existence, continuity and growth; generally, these demands are regarded to be the way in which society interacts with the business giving it a certain legitimacy and prestige. Groups of integrative theories include:

Issue Management – In any business, social responsiveness is required when there are social issues, and also the processes to manage them; therefore, this approach comprises the processes by which an organization can identify, evaluate and respond to those social and political issues which may impact significantly upon it.

The Principle of Public Responsibility- is about the scope of managerial responsibility when it comes to its involvement in its social environment; which entails primary involvement i.e. locating and establishing its facilities, procuring suppliers, engaging employees, carrying out production functions etc and secondary involvement: offering career and earning opportunities for some individuals and advancement of employees (there result from primary involvement).

Stakeholder Management – involves achieving maximum overall cooperation between the complete stakeholder groups’ system and objectives of the organization; moreover, it also states the most efficient strategy for managing stakeholder relations putting on a lot of effort when dealing with issues affecting multiple stakeholders (Elisabeth &Domenec, 2004, 58).

Corporate Social Performance (CSP) – Significantly, includes a search for social authority, with processes for giving suitable comebacks. The main beliefs of CSR are known to be methodical forms to be filled with value content that has been put into operations; all the same they include: principles of CSR, expressed on institutional, organizational and individual levels, processes of corporate social responsiveness, such as environmental assessment, stakeholder management and issues management, and outcomes of corporate behavior including social impacts, social programs and social policies (Elisabeth &Domenec, 2004, 56).

Part Three: Environmental Performance

The legitimacy theory explains the relationship between the quantity of environmental information and the environmental performance in non-environmentally sensitive industries; moreover, the quality of environmental disclosures increases whether the firm is better environmental performer (Janet, 2005, 507). For instance, according to green peace, there is a negative correlation between the mandatory disclosure of environmental legal sanctions and the subsequent regulatory violations between firms working with the Chinese conglomerate in regard to discharging hormone distributing chemicals.

Conclusion

Currently, most of the theories associated with corporate social responsibility concentrate more on establishing a good relationship between the organization and its society, using the power in a business responsibly and in the best possible way. Moreover, most of these theories also lean more on helping organizations and firms to achieve their objectives and aims so that they can have long term profits as a reward; all the same, the core principles of these theories are all about integrating demands of the society and make sensible contributions to it by acting in the best possible way.

Bibliography

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Brennan, N. &Merkl-Davies, D 2013, Accounting Narratives and Impression management, In: Jackson, L., Davison, J., and Craig, R. (eds.): Routledge Companion to Communication in Accounting. Routledge, Vol.1 (2), p. 109-132

Deegan, C. and Rankin, M. 1996. An analysis of environmental disclosures by firms prosecuted successfully by the Environmental Protection Authority: Accounting, Auditing, and Accountability Journal. Vol. 9 No. 2, p. 50-67

Hooghiemstra, R, 2000, Corporate communication and impression management; New perspectives why companies engage in corporate social reporting: Journal of Business Ethics. Vol.27 (2), p. 55-68

Mahoney, L.S., Thorne, L., Cecil, L., &LaGore, W. 2013, A research note on standalone corporate social responsibility reports: Signalling or green washing: Critical Perspectives on Accounting. Vol. 24 (5), p. 350-359

Merkl-Davies, D. &Brennan, M, 2011, A Conceptual Framework of Impression Management: New insights from psychology, sociology, and critical perspectives”, Accounting and Business Research. Vol. 41 (5), p. 415-437

Moir, L. 2001. What do we mean by corporate social responsibility? Corporate Governance. Vol.1 (2), p. 16-22.

Elisabeth, G &Domenec, M. 2004. Corporate Social Responsibility Theories: Journalism of Business Ethics. Vol.53, p.51-71

The Virgin Spring (Ingmar Bergman, 1960, 1:30’) Assignment

YouTube: https://www.youtube.com/watch?v=UTduvLI3UhIThe Virgin Spring is a meticulously crafted work of art full of symbols, symmetrical patterns and breathtaking camerawork.

The story is based on a medieval ballad. It tells us about Herr Töre, a lord who lives on his farm in 13th century Sweden with his wife Fru Märeta, his daughter Karin and a foster-daughter Ingeri who is a worshipper of the pagan god Odin and is pregnant out of wedlock. On occasion of the approaching Feast of Candlemas, Töre asks his daughter Karin to bring candles to the church of Father Erik so that he can bless them. By tradition they can only be brought by a virgin. Karin asks Ingeri to accompany her. During their journey they meet the farmer Snollsta and a sinister bridge keeper. Then three goatherds –the Thin Man, the Mute and the Boy- notice Karin on her horse and conceive an evil plan. They have a meal together; Karin blesses the food, while Ingeri hides in the bushes. The herdsmen rape Karin and kill her.

In the evening the herdsmen arrive at the farm of Töre and Märeta asking for a lodging for the night … They are welcomed and have a meal. In the night Märeta makes a terrible discovery…

The Virgin Spring is a tale of guilt, sin and redemption. It shows that evil is a possibility in everyone’s heart and also that even the greatest sins can turn into an event of grace and redemption.

This is not an easy movie. Every detail in this film is connected somehow with the whole; nothing is accidental. Words, moments of silence, apparently insignificant gestures, speeches, music, songs, and clothes, they all beautifully interact. The film is rich in symbolic language taken from nature: water, fire, earth, smoke, the birch, the crow, the toad, and the goats; and it abounds in meaningful contrasts like the Nordic pagan religiosity with its fear and spells yielding to Christian hospitality and mercy, the chiaroscuro imagery of light and shadows or the physical dissimilarity between the blond Karin and the dark haired Ingeri. Elements of fairy tale narrative stand side by side with ominous statements and events, and poetic prophecies foreshadowing things to come. But all these are mere threads that carefully weave the pattern of a medieval human drama as a reflection of the human drama. The camera of Sven Nykvist mercilessly makes us spectators of and participants in the dramatic events that focus us on faith, evil, sin (hate, envy and lechery), guilt, forgiveness, death, repentance, mercy, and redemption. Also from the religious-historical point of view the film is interesting. The Christianization of Scandinavia, and Sweden in particular, which started in the 9th century was a very gradual process. In The Virgin Spring we witness how in the 13th century old Nordic paganism is still alive, even in the mentality of the Christians, but also how a new humanity was breaking through the clouds of fear and superstition.

Assignment: Write an ESSAY of ca. 350 words in which you show that each of the five protagonists (Töre, Märeta, Karin, Ingeri, the Boy) have both

(1) goodness in them but also

(2) their burden of guilt to bear. Focus on the moments in which this guilt-awareness appears in each one of them.

NAME:

DATE:

UNIVERSITY:

PROFESSOR:

The virtual museum

Alexander the Great’s death in 323 B.C. marked the expansion of Grecian mythology beyond the territory. Alexander quickly extended the borders of the Macedonian Empire to include Afghanistan and eastern Pakistan today. His generals struggle for power after his death without nominating a replacement. The empire was divided among Hellenist states, which ruled Greece, part of southern Italy, Asia Menor, Egypt, and the North East for three hundred years after several civil wars. During this time, Greek became a foreign language, resulting in Greek art blooming. In terms of realism, eroticism, and mass media (a standard coinage that was not recognized as such), the literature of the Hellenistic era broke out new ground in terms of (a contemporary coinage never regarded as such at the time).

The Attalid Kingdom, which ruled Pergamon on the west coast of Turkey, is one of those Hellenistic dynasties. Pergamon became a wealthy, cultured city under Attalid and Roman rule (133 B.C.) .Its big acropolis (the hill town) had a huge altar with complex chips known as the well-known Grand Altar. Carl Humann, a German engineer and amateur archeologist, met the old site of Pergamon during excavations for the Ottoman Turkish road construction project in the mid-1960s (Gardinier).

But the actual drilling had to wait until 1879 when Humann could receive funding from the Berlin Kingdom Museums. It is the start of a long-standing partnership of German towns to Hellenistic cities that eventually led to the establishment of the Pergamon Museum (the Ottoman Government claimed the balance) – a large complex dedicated to the conservation of its accepted site (the Ottoman government claimed the credit). In a diplomatic game of archeological standards, the Great Altar friezes have been recognized as worthy contestants for the British Museum’s Elgin Marble (Parthenon frieze sculptures in Athens) (sculptures from the frieze of the Parthenon in Athens). The field is still excavated today under the management of the Pergamon Museum.

The show has been identified as ‘unabashedly an ‘artifact exhibition’ by Carlos Picon, Met’s chief curator of antiquities,’ which does not seem to involve a simple art-history survey. “In any case, the study of the plurality of Hellenistic distinctions cannot be resolved,” he writes in an exhibition catalog. “In any case,” she says. “It is only possible to explore new ideas and try to find ways to further studies, or at the very least to inspire us to look at this rich material with new eyes,” he writes.

The display “Pergamon and the Ancient World Hellenistic Realms” will be shown for the first time to many Met travelers. Works that are visually and mentally taxing are more likely to be recognized, even by skilled at them (Baker). At the same time, the Grand Altar cannot move (since it is embedded in the walls of the Pergamon Museum itself). The New York show includes a striking design reflecting the look of the altar when it was first placed, as well as elements from the friezes.

Among the items in the collection are some extensive marble bas-reliefs discovered between 1878 and 1886 on the north and east sides of the Athena shrine. These daring sketches, dating from about 180 B.C., depict fights between Pergamon’s kings and the Kings, shields, a standard ship and rudder, and a mask helmet. The trophies’ haphazard, rugged construction suggests a peaceful life on the ground and a more cubistic result (Briscoe). Dedication to such a significant institution as this shrine in Athena shows that Pergamon, like any other foreign region, collaborated to communicate with Greek religious sources and incorporate himself into Greek mythology.

The actual arms and armor and the frieze elements are depicted: One of the few surviving Hellenistic objects of its type is a bronze shield with a diameter of 32 inches and an embellishment discovered in modern Turkey. “Of King Pharnakes,” the inscription between two concentrations of ornamental strips reads, referring to Pharnakes I, who ruled Pontos in the second century B.C. Initially, a wooden or leather support with a six-point central star pattern can be mounted behind the shield’s brass front.

Images of the Hellenistic civilization’s founder, Alexander the Great, are prominently displayed at the start of the installation. Bucephalus, one of the collection’s most impressive pieces, is a bronze sculpture perched on his beloved horse, which is dressed in traditional Macedonian attire and poised to blast an unseen opponent (about 20 inches high). He would have used his weapons invisibly for us at the very least, but his abilities had deteriorated over time. Alexander is depicted without a shield, alluding to a significant occurrence in 334 B.C. The sculpture was discovered in Herculaneum and is a copy of a Greek original from the Roman Republic or the early Imperial era, created between 320 and 300 B.C.

There is also an unfinished monumental marble head at Pergamon, possibly depicting Alexander, though it is much smaller in size. The head in the wall of the Pergamon Gymnasium in the second century B.C. was nearly double (almost 23 inches) in length and was most likely cut. The young King’s face was dramatically severed, leaving only its expressive, slightly open mouth, nose, and curly hair; most of the head was severed, resulting in a stunning yet unintentional effect.

Every characteristic appears to be that of an individual rather than an idealized archetype. The eyes are expressive, with white stems and dark gray stone irises that express pathos or sorrow. Late-Hellenistic portraiture is distinguished by keen attention to naturalistic details and a desire to represent the sitter’s true nature and character. The person depicted may have been a public official, a journalist, or a well-known local, but the artist portrays himself rather than a public figure.

Frank’s eroticism is another characteristic of Hellenistic sculpture. Hermaphrodite Sleeping, a 2nd century B.C. Greek imitation of Roman Imperial origin. Hermaphrodite Sleeping, a 2nd century B.C. Greek replica. The exhibit The Met was a magnificent example of Minor Asia discovered in Rome at the end of the nineteenth century during a theater building. According to mythology, Hermaphroditos, the son of Hermes and Aphrodite, was a hindrance to the nymph’s success, prompting the spirit to seek the aid of the gods. They became one by fusing her with her beloved and creating a bisexual creature for all time. The man is sleeping in the marble, partially encased in a blanket, with one leg crossed over the other and his face resting on his side. Despite this, it seems to be on the verge of collapsing at any moment. The body and face are sex-neutral, with women skewed to the side of the face. On the other hand, the sculptor uses the breast and the cock as dramatic representations of the androgynous nature of this mix.

Naturalist painting was a significant accomplishment in Hellenistic art, but unfortunately, only a few paintings survived. Mosaic paintings, on the other hand, depict what Hellenistic art may have looked like. A community of busy musicians dedicated to the culture of the Cybele Goddess is displayed on a late Roman Republican icon discovered in Pompeii between the 2nd and 1st centuries B.C. Each of them is dressed theatrically (Bowen). The first is blown by a double flute, the second by a large tambourine, and the seventh by a pair of small hand cymbals. To the left is a small man, maybe a boy or a dwarf. The poet, Dioskourides of Samos, signs the Greek image, most likely as a model for Menander’s comedy, The Possessed Girl, which is mainly lost, and only a few lines remain. This piece is a reconstruction of artwork from the last century. It employs chiaroscuro and demonstrates three-dimensional control of space due to its mosaic nature.

Conclusion

A fascinating multi-figure composition cut outside in relief can be found in the marble calyx crater Borghese Krater. This one stands out in a show of only high positions. This large vase, made in Greece about 40-30 B.C., was discovered in 1569 in Rome’s Sallust gardens and is now housed in the Louvre. The frieze depicts Dionysus, the god of wine, and Ecstasy in procession, with a shape that resembles the shape of ceramic craters that can be used to serve wine at banquets. Dionysos is also a grapevine under the crater floor. One of the characters in the frieze is a sky portraying semi-nudism, three monads or female worshipers, and five satyrs or faunas, all of whom are dancing and playing musical instruments. One fauna appears to have consumed excessive alcohol, while another fauna appears to be helped. The decorative arts in “Hellenistic Kingdoms of Pergam and the Ancient World” include numismatics and diamonds. The Vienna Cameo is one of the most appealing items in this category. This ten-layered onyx double portrait dates from the early Hellenistic period of Ptolemaic Egypt, which lasted from 278 to 270/269 B.C. This profile depicts Pharaoh Ptolemy II and his sister-wife, Arsinoe II (Philadelphia means “sibling-lover” in Greek) (Philadelphos means “sibling-lover” in Greek). The stem’s white layers were used to build the faces.

Work cited

Bowen, Jonathan. “The Virtual Museum”. Museum International, vol 52, no. 1, 2000, pp. 4-7. Informa UK Limited, doi:10.1111/1468-0033.00236.

Baker, Abigail. “K Servi The Acropolis. The Acropolis Museum. Athens: Ekdotike Athenon S.A., 2011. Pp. 167, Illus. €10.50. 9789602134528.”. The Journal Of Hellenic Studies, vol 133, 2013, pp. 281-281. Cambridge University Press (CUP), doi:10.1017/s0075426913001122.

Gardinier, Suzanne. “The West Point Museum”. Grand Street, vol 8, no. 4, 1989, p. 196. JSTOR, doi:10.2307/25007283.

Briscoe, John. “The Attalid Kingdom – R. E. Allen: The Attalid Kingdom. A Constitutional History. Pp. Xi + 251; 2 Maps. Oxford: Clarendon Press, 1983. £20.”. The Classical Review, vol 34, no. 2, 1984, pp. 266-268. Cambridge University Press (CUP), doi:10.1017/s0009840x00103762.

Introduction

Accounting fraud is one of the most serious issues confronted by organizations and associations. Most organizations experience the ill effects of accounting fraud which harm its financial position and notoriety and lead these organizations to insolvency. There are a few approaches to confer accounting fraud. Case in point control in the financial proclamations and change a percentage of the figures in the records of resources for add esteem not true to delude financial specialists. Yet in the realm of trading and lending and fund every issue harming the economy, masters may discover answers for keep these practices. In these instance of accounting fraud starts to find by the reviewer. Evaluating is utilized to discover any record accounting fraud (Velikonja, 2010). Moreover, Auditor must have a decent understanding of control frameworks, which has been fabricated by administration to guarantee discovering and keeping any accounting fraud, in light of the fact that when outlining and actualizing a control framework by the organization, they reflect the nature and degree of the control with administration choses to execute.

This impacts of accounting fraud has become a burden to various organizations in the world and also a cause of various failures of many organizations around the world.

Definitions

To comprehend accounting fraud, this segment will incorporate imperative definitions identified with this subject. Accounting is an estimation of social matters in profit making that process and introduces all budgetary data of a corporate. This data is focused around financial occasions. Accounting is utilized as a part of distinctive zones of a corporate, including budgetary accounting, evaluating, and assessment accounting. Accounting has inner profit where it measure and break down all the corporate exercises that can be utilized by administration to decide. Moreover, stakeholders and other outside clients can profit from accounting report, for example, money related proclamations (Business Dictionary).The other word must be characterized is accounting fraud. Accounting fraud is characterized to be any illicit or unjustifiably exercises for financial or individual addition. The motivation behind accounting fraud is to addition over the top sum, for instance, cash or stock. Changing of the accounting records including budgetary deals, incomes and costs is viewed as accounting fraud. In addition, concealing misfortune, accounting fraud of receipts, and staying away from obligation commitments, which prompted a benefit, are cases of accounting fraud. The law has subjected all accounting fraud as criminal indictment if found and representatives will be rebuffed regardless of the possibility that coordinated by their boss (Business Dictionary).

At the point when looking at accounting fraud rings a bell who they are included in accounting fraud and the answer that comes; senior administration of organizations. Basically participate in accounting fraud in light of the fact that they have admittance and force to change the transactions and proposals and also the power to change any figures in the financial explanations with the collaboration of a few accountants in the organization. Accounting fraud generally happens while setting up the organization’s budgetary report by controlling in embedding financial records to show distortion of the organization’s position in the business sector. This fraud could take two structures. The primary includes embedding false costs of great and stocks into the organization’s budgetary proclamation while the second includes demonstrating stunning costs for the organization’s advantages (Ngai, Wong, Chen & Sun, 2011). The motivation behind conferring accounting fraud is to increase great position in the business sector and keep the money stream at a decent rate. Bhasin has arranged organization’s accounting fraud at senior administration level into three sorts: fraud submitted by the Chief money related officials, manager, and by the organization itself (Bhasin, 2013). To locate accounting fraud exercises and preventing it from happening, corporates need to have an experience examiner with expert aptitudes and information about fraud. Additionally, reviewers need to keep up their aptitudes by including in preparing and staying up with the latest data. An auditor is in control to reach determination whether an organization’s budgetary proclamations are free from material misquote that could be because of fraud. Consequently the International Standards on Auditing set out reviewer’s obligation in regards to fraud through the Isa240; which will make note of assessing dangers of material error and will likewise include discovering the affectability of the financial proclamations to material misquote brought on by accounting fraud (Yu, 2013).

Accounting fraud is a statement which is regularly use to cover an extensive variety of illicit acts, then as per Bhasin (2013) Fraud is the purposeful and illicit demonstration of trickiness or of controlling records. It can be worked for the profit or to the impairment of the corporate and by persons inside or outside the association. It’s likewise vital to say that accounting fraud is an intentional tricking for the fulfillment of an individual or gathering. However in this paper we might be concerned by fraud that may be distinguished by examiners. Really, we will characterize accounting fraud through two measurement which are whether the sustained fraud is for or against the association and also to discover the class of the blamable or culprit. There are a few approaches to locate fraud including contrasting costs available and deals and financial articulation with capital are a percentage of the systems for catching accounting fraud. For instance, when the Purchasing Management buy a few instruments, for example, autos or supplies for the organization then writing bills much higher than the first cost in the business by concurrence with the supplier to be incorporated in the money related proclamations then the dependable profits from the diverse cost for him. Besides, discovering fraud is possible by contrasting costs in the business sector and deals benefits (Bhasin, 2013). It is possible by going into the true market and see the costs of the organization’s products and contrast these costs and deals benefit in the organization’s financial articulation. A financial explanation is generally the source that gives banks, speculators, and other institutional financial specialists with an organization’s money related undertakings (Yu, 2013). An alternate strategy for identifying accounting fraud is by making a review of a money related articulation with the capital and financial explanation (Yu, 2013).

Also, having a great interior examining office can distinguish and dispose of fraud exercises and give organizations strategies and conventions that can be taken after at whatever point accounting fraud exercises have been found. Reviews is possible either quarterly or every year. Likewise, the inspector must have the ability to lead review whenever for any office in the organization. Be that as it may, outer review is the best alternative for organizations since outside examiners don’t know anybody in the organization and nobody can compel them to ignore the controls in the financial articulations while doing their review. Administrators have the alternative to pick the suitable system to identify accounting fraud exercises and get a genuine picture of the execution of their organizations.

Counteracting accounting fraud likely help in developing organizations. The most vital mainstay of control in the accounting fraud is inner control which empowers the organization to do their obligation minus all potential limitations. Interior control gives the foundation to the president and governing body through the procurement of effective administration to safeguard the trustworthiness of the association and ensure their advantages by utilizing most recent engineering. Decision Making, arranging and assessing in organizations is carried out by the inner control which aides and aides in the ideal utilization and usage of accessible assets. (Bhasin, 2013). The uprightness of the administration by utilizing the innovation could help inner control to committal criminal acts (Farber, 2005). Moreover, the force of the control of the corporate prompts manage the assets and resources of the corporate’s budgetary accounting. Catching fraud quick reflects the quality of the inner control (Bhasin, 2013).

Accounting analysis may guarantee for the financial specialist that the supervisor and staff cannot submit fraud in light of the fact that accounting analysis demonstrates all the variables that happen at all times and in light of the fact that it confers the staff to do their accounting obligations. Accounting analysis controls may be minimizing the chance for supervisors and staff to confer accounting fraud as restricted access to representatives. Additionally, records that show time and staff ID of the individuals who got too entered or modified data can be accomplished. The director can be controlled by the senior administration component framework to guarantee that he don’t veer off from his mission (Bhasin, 2013The point of these directions and strategies that are intended to forestall fraud is to elucidate the transactions and financial reality of organizations to ensure organizations and associations from the impacts of the accounting fraud and control of money related articulations, and it must proper way and conservative (Bhasin, 2013).

Conclusion

Taking everything into account, accounting fraud is viewed as the most hazardous in the accounting field. Two techniques have been tended to identify and control accounting fraud, for example, contrasting costs and looking into resources with capital. The principle reason for distinguishing and controlling accounting fraud is to help organizations develop and secure stakeholders’ investments and rights. A percentage of the ways that have been tended to in this article to locate and dispense with accounting fraud are leading either inward or outside review and allude into the true market to get and know the genuine costs of the organization’s products and afterward contrast it with the deals benefit. Additionally, utilizing accounting analysis ought to be minimizing the chance for accounting fraud since everything is controlled by the product.

References

Accounting fraud. (N.d). In Business Dictionary. (2014) Retrieved from HYPERLINK “http://www.businessdictionary.com/definition/accounting-fraud.html” http://www.businessdictionary.com/definition/accounting-fraud.html

Bhasin, M.L. (2013). Corporate Accounting Fraud: A Case Study of Satyam Computers Limited. Open Journal of Accounting. 2, 26-38. HYPERLINK “http://dx.doi.org/10.4236/ojacct.2013.22006” http://dx.doi.org/10.4236/ojacct.2013.22006

Farber, D,B. (2005). Restoring Trust After Fraud: Does Corporate Governance Matter? The Accounting Review, 80 (2), 539-561. Retrieved from HYPERLINK “http://www.jstor.org/discover/10.2307/4093068?uid=3737536&uid=2&uid=4&sid=21104063244771” http://www.jstor.org/discover/10.2307/4093068?uid=3737536&uid=2&uid=4&sid=21104063244771

Fraud.(N.d.) In the free dictionary. Retrieved April 13,2014 from HYPERLINK “http://www.thefreedictionary.com/fraud” http://www.thefreedictionary.com/fraud

Ngai, E.W.T., Hu, Y., Wong, Y.H., Chen, Y, & Sun, X. (2010). The application of data mining techniques in financial fraud detection: A classification framework and an academic review of literature. HYPERLINK “http://www.sciencedirect.com/science/journal/01679236” o “Go to Decision Support Systems on ScienceDirect” Decision Support Systems, 50, 559-569.

DOI: 10.1016/j.dss.2010.08.006

Yu, X. (2013). Securities Fraud and Corporate Finance: Recent Developments. Managerial Decision and Economics, Forthcoming, 34, 439-450. DOI: 10.1002/mde.2621.