Accounting and Information Systems Of BU

Technological revolution in twentieth century rise a widespread use of internet, computer and social media which offer us an unlimited access to world wide web. Office, business farm, educational institutions, government and individual, almost everyone use Internet for restoring personal information. We are leading a very complex online life. As we can see, using Internet or social media is must in our life. It makes our life easier, business and education is more efficient than that before, it makes task faster and easier. We become more productive through our online life. As we are depending more in Internet or online our information face a great risk. Some information are very much confidential. There rise a question to protect it. That ultimately rise ethical and social concern. As information technology become increasingly influential the ethical and legal consideration become similarly relevant. Five most pressing ethical and legal issues are:  1. Privacy 2. Digit...

Responsibilities of Joint Auditors: The concept of Joint audit is very common in Nationalized banks. The standard does not deal with the relationship between a principal auditor who is appointed to report on the financial statements of an entity and another auditor who is appointed to report on the financial statements of one or more divisions or branches included in the financial statements of the entity. Such as Relationship between the Principal auditor and Branch auditor.  Joint Auditors: Practice of appointing more than one auditor to conduct the audit of large entities. Such auditors, known as Joint Auditors. Joint Auditors conduct audit jointly & report on the financial Statements.                                                 ...

Introduction To Taxation    ★Definition of Taxation :                                       The term 'tax' has been derived from the French word 'taxe' and etymologically,the Latin word 'taxare' is related to the term 'tax',which means 'to charge'. "Tax' means the income tax payable under the ordinance and includes any additional tax,excess profit tax,penalty, interest, fees or other charges leviable or payable under this ordinance "_ section 2(26) of the ITO 1984. "A tax  is purely and simply a contribution, whether direct or masked which the public authorities impTose upon the inhabitants or goods for the purpose of defraying government expenditures."_ Leroy Beaulieu. "Taxes are compulsory payment to government without expectation of direct return in benefit to the tax payer."_ P.E.Taylor. ★ Characteristics of Tax: 1. Tax is a payment to the government by the p...

Types of Audit Report : there are four types of audit reports issued by auditors on financial statements.Each type of report contains different meaning and message from auditor to users of financial statements   1.Unqualified Audit Report : Unqualified audit report issued by yhr auditor to financial statements when auditor found no material misstatements after their testing.  this report contains the unqualified openion from an indipendent auditor. the report  showed that the entity financial statement are prepared and present true and fair complying with accounting framework besing used. 2.Qualified Audit report: The qualified audit report is the report that issue by auditor to financial statement that found meterial misstatements on them.  But those material misstatements are not pervasiv. For example, the operatin balance of the entity contains a large number of inventories that could not varify.  3. Adverse Audit openion: Adverse...

THE BUDGET COMMITTEE  A standing budget committee is usually responsible for overall policy relating to the budget program and for coordinating the preparation of the budget itself. This committee may consist of the president; vice presidents in charge of various functions such as sales, production, and purchasing; and the controller. Difficulties and disputes relating to the budget are resolved by the budget committee. In addition, the budget committee approves the final budget.   Disputes can (and do) erupt over budget matters. Because budgets allocate resources, the budgeting process determines to a large extent which departments get more resources and which get less. Also, the budget sets the benchmarks used to evaluate managers and their departments. Therefore, it should not be surprising that managers take the budgeting process very seriously and invest considerable energy and emotion in ensuring that their interests, and those of their departments, ...

Basic Marketing concept as a beginner: INTRODUCTION ON MARKETING CONCEPT The marketing concept is the belief that companies must assess the needs of their consumers first and foremost. Based on those needs, companies can make decisions in order to satisfy their consumers’ needs, better than their competition. Nowadays, most companies have incorporated the marketing concept. So if you were a new company, how would you know what a customer would need and want? First of all, let us define needs and wants. Needs are basic requirements for an individual to survive. Some examples are water, food, shelter, etc. Some examples are a bigger home, a brand new car, an iPad, and the like. Even though consumers’ needs are broad, wants can be very particular. Consumers decide to buy based on both their needs and wants. Case in point, if they were hungry, they would need food.Marketers acknowledge the needs of consumers and use the consumers’ desire for what they want to steer them toward...

Sanctions; In a nutshell Sanctions are basically threatened penalty for disobeying a law or rule. Sanctions can be applied to any country, any organisation or any individual whenever they try to violate the international laws,rules and regulations. The purpose of implementing sanctions is to ensure international peace, security and solidarity. Sanctions can be imposed by the UN Security Council, the European Union (UN) and individual states. whenever an individual state wants to impose sanctions, it can and there is no need to take permission from the UN Security Council or the European Union. Economic Sanctions on Iran The first ever sanctions on Iran imposed by the United States in November 1979 after a group of radical students attacked the US embassy in Tehran and arrested the embassy officials. Then the US authority made sanctions by executive order 12170 and seized about $12 billion Iranian assets including bank deposits, gold and other properties.