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Accountancy is a vast and dynamic profession and is constantly adapting itself to the specific and varying needs of its users. Over the past few decades, accountancy has branched out into different types of accountancy to cater for the diversity of needs of its users. Main types of accountancy are as follows: Financial, Management, Governmental, Tax, Forensic, Project and Social. Financial accountancy, or financial reporting, is the process of producing information for external use usually in the form of financial statements. Financial Statements reflect an entity's past performance and current position based on a set of standards and guidelines known as GAAP (Generally Accepted Accountancy Principles). GAAP refers to the standard framework of guideline for financial accountancy used in any given jurisdiction. This generally includes accountancy standards (e.g. International Financial Reporting Standards), accountancy conventions, and rules and regulations that accountants must follow in the preparation of the financial statements.
Management accountancy produces information primarily for internal use by the company's management. The information produced is generally more detailed than that produced for external use to enable effective organization control and the fulfillment of the strategic aims and objectives of the entity. Information may be in the form budgets and forecasts, enabling an enterprise to plan effectively for its future or may include an assessment based on its past performance and results. The form and content of any report produced in the process is purely upon management's discretion. Cost accountancy is a branch of management accountancy and involves the application of various techniques to monitor and control costs. Its application is more suited to manufacturing concerns. Governmental Accountancy, also known as public accountancy or federal accountancy refers to the type of accountancy information system used in the public sector. This is a slight deviation from the financial accountancy system used in the private sector. The need to have a separate accountancy system for the public sector arises because of the different aims and objectives of the state owned and privately owned institutions. Governmental accountancy ensures the financial position and performance of the public sector institutions are set in budgetary context since financial constraints are often a major concern of many governments. Separate rules are followed in many jurisdictions to account for the transactions and events of public entities. Tax accountancy refers to accountancy for the tax related matters. It is governed by the tax rules prescribed by the tax laws of a jurisdiction. Often these rules are different from the rules that govern the preparation of financial statements for public use (i.e. GAAP). Tax accountants therefore adjust the financial statements prepared under financial accountancy principles to account for the differences with rules prescribed by the tax laws. Information is then used by tax professionals to estimate tax liability of a company and for tax planning purposes. Forensic accountancy is the use of accountancy, auditing and investigative techniques in cases of litigation or disputes. Forensic accountants act as expert witnesses in courts of law in civil and criminal disputes that require an assessment of the financial effects of a loss or the detection of a financial fraud. Common litigations where forensic accountants are hired include insurance claims, personal injury claims, suspected fraud and claims of professional negligence in a financial matter (e.g. business valuation). Project accountancy refers to the use of accountancy system to track the financial progress of a project through frequent financial reports. Project accountancy is a vital component of project management. It is a specialized branch of management accountancy with a prime focus on ensuring the financial success of company projects such as the launch of a new product. Project accountancy can be a source of competitive advantage for project-oriented businesses such as construction firms. Social accountancy, also known as Corporate Social Responsibility Reporting and Sustainability Accountancy, refers to the process of reporting implications of an organization's activities on its ecological and social environment. Social Accountancy is primarily reported in the form of Environmental Reports accompanying the annual reports of companies. Social Accountancy is still in the early stages of development and is considered to be a response to the growing environmental consciousness amongst the public at large.
If you are a student who is enrolled in the financial or business sector, then it is very likely that you will eventually be assigned accountancy cases writing assignment. Accountancy cases are the one rare occasion when mathematic reason and creative writing talents are combined. Although accountancy cases typically lean more towards the formal side of report writing there is an element of personal observation that needs to be included. Thankfully, all the research that you need to do should be right in front of you in the accountancy data, all you need to do is examine it and write your report based off of your findings. Sound easy? Well it takes a bit of work to compose a good case report you can simply regurgitate the account file information, you do have to come up with a unique analysis.
How to write accountancy cases? Let us give you some tips in writing great accountancy cases: Look at the data carefully and keep notes on your initial observations, for example: “It appears that the account holder makes regular large sum withdrawals and small deposits”. Use these notes to your benefit when writing your thesis on your report findings: “We can conclude that if the account holder continues to make large withdrawals and only small deposits that the longevity of the account is in jeopardy.” Like any other writing assignment you also need to compose a hypothesis. For ex: “My prediction is within 5 months the account will have a negative balance if these trends continue.” There are certain assumptions that you need to make in order to write a case study report that makes logical sense: a.) Assume that the account will continue to exist into the future; b.) Assume that the data you have received is accurate; c.) Assume that the estimates have been rounded down not up; d.) Assume that the account will continue to be reported in the same format; e.) Assume that the transactions have been reported separately and not combined. These assumptions allow us to compose the case study using only the data that we have been presented. If these assumptions are not true, this is irrelevant to the person who is composing the case study. Get your work done by professional writers. Do not make any statements that do not support the evidence shown in the account or far-fetched statements that do not support these assumptions. It is in the author’s best interest to write the report using on the facts that they have been presented and not by seeking outside resources that are not backed with supportive evidence. For example, the writer cannot assume that the account holder has any undocumented funds or transactions that would impact the account. To say further, accountancy cases must be written according to various standard rules and regulations. These are the same guidelines followed by organizations during their accountancy process. Accountancy cases are important to a national government in that they enable it to check an organization’s progress in terms of production as well as finance. Accountancy cases should be written following procedures specific to one of the major topics in accounting, such as financial accounting and managerial accounting, which is also referred to as cost accounting. To write accountancy cases is quite challenging because it requires a good amount of quality time. Generally, just like other cases, it follows a specific format. The writer gives detailed background information on the topic of study. This is what is regarded as the introduction. It offers a clear outline of the subject matter while defining the problem at hand together, with the limitations of the study. The writer then provides the problem statement, followed by data sampling cases. Next, a conclusion is drawn which is finally followed by recommendations.
The first step in the writing of cost accountancy cases includes giving a clear identification of the method to be used, the objective of the problem, and the facts related to the area of cost accountancy. This step is crucial in that it helps to better understand the topic of study. For example, the issue of identifying a particular method of approach aids in solving major issues since it involves an analytical approach that facilitates an increased awareness of the topic. Stating the objective of the problem helps in understanding the problem statement. The second step is providing a scope of the project to the readers. The issue of scope entails stating and explaining the objective of the cost accountancy cases to the readers, the provision of the organization’s overview and lastly, giving an outline of relevant knowledge together with theories. The third step is to properly focus on the identified issues and their suggested solutions. While identifying all problems, the writer should also offer relevant solutions to the same. The fourth step is providing a high quality conclusion. Generally, it must be clear and precise for a better understanding of the topic at hand. Finally, the writer should provide a list of references used during the development of the accountancy cases.
Do note that these above given tips are provided only as a general guideline and would vary based on the requirement of the project. However even with these instructive steps it is not possible for most people to do good cases like how our expert writers do. This is why you need the help of our company. Read further to use our writing, editing and proofreading case studies services.
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We guarantee that your paper will be written from scratch for you. It is also guaranteed to be plagiarism free. Our writers hold PhD and Masters Degrees and therefore the content will be sound, relevant, and up to date. Our writers have years of experience with academic writing and are familiar with the different formats such as MLA, APA, Turabian, Chicago and Harvard. Not only do you specify your requirements but you can have free revisions if you are not satisfied with the results. We never give your personal information to third parties. Not even the writer will know your name. The last important point is that our papers are very affordable! Place your order and you will be pleasantly surprised at how affordable it is to buy custom cases on accountancy topics.
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