Accounting

Myer Holdings is engaged as a department store retailer in Australia, with a valuable footprint of 65 stores in the reachablity of the target market.  The organisation considers itself the largest retailer in the Australian market with a sales value amounting to over 3.2 billion in 2009.  Significant investments are undertaken by the company to enhance efficiency and effectiveness.  For example, distribution centres have been diminished from eight to four. The two key elements that...

The essential functions of external auditor and accounting practice in the contemporary business environment are to build the public confidences that the business organizations are free of corruption, and their annual financial records are free of financial abnormalities. Essentially, in the present global business uncertainty, external auditors serve as external and objective checks and balances on an organizational financial records. Thus, the external auditors and accountants are required to...

Paying taxes is not a choice, it is an obligation and what the law demands. Tax is a fee levied by the government on products, incomes or activities within the scope of its authority as a means to funding governments operating costs. Failure to pay taxes is a crime under the law and can lead to a jail term. Generally, taxes can either be avoided or evaded. Tax evasion involves unlawfully avoiding paying the mandatory taxes due or unlawfully escaping liability for the tax. On the other hand, tax...

Enterprise Resource Planning (ERP) systems have become the uniform standard for most medium to large companies predominantly playing a major role in functional and process operations. These systems mostly consist of software functional designed programs that are integrated in all business process systems to include vast amounts of data and information for customers, employees, services and products.  The most common applications are used in marketing, accounting, purchasing, manufacturing,...

Today we see many companies asking the government for help so they can keep operating.  We have seen it in the automobile and the banking industry just to name a few and until the economy corrects itself there is no telling how many more industries will join them.  Based on this information, we have also seen more companies in financial trouble than in the past.  Companies continue to merge and acquire other companies even in these dark economic times, so what makes these mergers...

Activity-based costing (ABC) systems report accurate and timely cost information in a business environment, where competition is high and the company has a diverse product mix. In addition, the information ABC supplies can be used for continuous improvement of the business. This paper analyzes the various aspects of ABC and later attempt to gauge how different is the implementation of ABC viz-a-viz the theoretical aspect. The study considers the Finnish Fish Industry and the healthcare Industry...