Discussion Topic/ Replies - Essay Example

Comments (0) Cite this document
I know some companies or individuals have large incomes or expenses at certain times of the year, and like to close their books after these large events. This gives the accountants enough time to collect all funds, reconcile whatever they have to, pay off whatever they have to…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.1% of users find it useful
Discussion Topic/ Replies
Read TextPreview

Extract of sample "Discussion Topic/ Replies"

Reply: I know some companies or individuals have large incomes or expenses at certain times of the year, and like to close their books after these large events. This gives the accountants enough time to collect all funds, reconcile whatever they have to, pay off whatever they have to and get working on a budget for the next year sooner than a calendar year would. So that being said, A fiscal year proves to be more financially accurate than a calendar year.
It is correct to have a financial cycle ending at a strategic period where the company feels that more incomes and expenses are concentrated around a particular period. It makes little sense to report massive profit on a given month where as the month that follows will need the company to pay expenses amounting to half the profit. This will make investors and other users to make uninformed decision. Ethically, accountants must demonstrate objectivity at all time, Adèr (2008). As such they should stay true to the users-to give them nothing but the correct net value of a business and subsequent profitability. In this case, it is proper to have fiscal year that does not correspond to the calendar.
Student 2 Reply:
A retailer picks a different fiscal year because they have their biggest profits during change of seasons and also during the sales of a season ending. Since a typical fiscal year ends in December this month is looked at from retailers as "mid winter" season where their purchases in retail will be low. I know from experience in shopping that I tend to purchase seasonal clothes a few weeks before the weather changes and newer clothes are in. 
Reporting on financial accounting takes into consideration the “going concern” principle of accounting. This basically tells a user of accounting that the company will exist indefinitely. As such, taking financial transactions from January to December of a particular makes users oblivious of how transitions take place from year to year. As such, it is correct to have fiscal year where one half is in the previous and the other half in the current year. Furthermore, if there is a month where voluminous transactions are done, it should be complemented with another period where transactions are fewer, May (2003). This will increase the credibility of financial statements and hence it is wiser to have a fiscal year that is not corresponding with the calendar year.
Adèr, H. J (2008). A Consultants Companion in finance. 2nd ed. Rosmalen: Johannes van Kessel Publishing
May, C., (2003). Introduction to financial reporting. 2 ed. Pittsburgh: Carnegie Mellon University. Read More
Cite this document
  • APA
  • MLA
(“Discussion Topic/ Replies Essay Example | Topics and Well Written Essays - 250 words”, n.d.)
Discussion Topic/ Replies Essay Example | Topics and Well Written Essays - 250 words. Retrieved from
(Discussion Topic/ Replies Essay Example | Topics and Well Written Essays - 250 Words)
Discussion Topic/ Replies Essay Example | Topics and Well Written Essays - 250 Words.
“Discussion Topic/ Replies Essay Example | Topics and Well Written Essays - 250 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Discussion Topic/ Replies


...Reading Response Response1 I do agree with aurban about the differences in college writing and business writing. In college the students write to impress their tutors by the use of vocabulary and complex sentence structures, In return they are awarded with high grades; this is not the case in business writing which focuses on problem solving. The writer normally focuses on expressing his views on an issue to audience with different perspectives and not necessarily to impress the reader as is the case in college writing. Response 2 I definitely agree with Troy Davis view, in academic writing we often write to a teacher who is more knowledgeable than the students. The student should write to showcase how well he understood the...
3 Pages(750 words)Article

Week 2 discussion replies Set number 2

...Egyptians Optimistic View of Life Response to Maggie, Other features of Egyptian culture revealed in their art are the Egyptians outgoing personalitythat kept them optimistic. Ancient Egyptians traded with their neighbours, to obtain foreign goods not found in Egypt. This included gold, incense, timber, aromatic resins, ivory, and animals such as baboons and monkeys, which added to their wealth. Some of these would be used in construction statues, which acted as Egyptians gods. For instance, some of Egyptians gods were made of gold imported from the neighbouring countries. This depicts a family who loved their gods as the most expensive assets they had on earth. This would make them earn a decent penalty after they died... Optimistic View of...
2 Pages(500 words)Essay

Week 7 discussion replies

...Discussion Responses Response You have proposed a nice way of explaining to the elementary the significance of the size of objects by giving the example of golf balls, batteries, and the container. You have expressed that we need to determine the length and width of the seats in the vw to estimate the number of students that can fit in it with the doors closed. While you have said that some students can be seated in others’ laps, you have missed out the space where there are no seats but some students can fit there. Response 2 While your overall assessment is reasonably good, you have expressed some unnecessary doubts like whether the doors can be closed or not or some body parts can be hanging out or not. If the doors...
2 Pages(500 words)Essay

Discussion Topic

...Discussion Topic A fallacy refers to a flaw in an argument that is more than just a presumption in false assertion. In most cases, it pertains to either an error in reasoning or the creation of some false impression that makes a cogent argument appears corrupt or vice versa. There are many different types of fallacies; ad hominem is one of them. This fallacy hinges its arguments on the basis of a person’s character or nature (Davis, 2007). An example is whereby an overweight individual gives tips and advice on how to lose weight. He may be dismissed on grounds of ad hominem, but sometimes he might be telling the truth. Another fallacy is hasty generalization. It refers to when a conclusion is reached with insufficient information...
1 Pages(250 words)Essay

Discussion topic

... Response to Week 12 Discussions: Defining Justice Can justice be comprehensively defined by the ment ‘giving people what they deserve, as implied by Sandel? In my view, justice is not as simple as that statement implies. People have different deserving interests, which are often clashing. This is depicted in the case of Casey Martins, a physically challenged golfer, who sought legal redress after the PGA rejected his request of using the golf cart during tournaments. It can be said that the decision of Professional Golfers is a contravention of the laws which limits discrimination of persons on the basis of disability. Thus, it would be justified to say that Casey Martin should have been allowed to use the cart in the PGA tours... but...
1 Pages(250 words)Essay

Discussion Replies

...Discussion Replies on nuclear weapons Response to Post The argument that nuclear weapons are not a major war threat but only useful as a deterrent measure is plausible, although there is a need to understand that when the conflict between different powers in the world has accelerated beyond control, and measure, even the use of nuclear weapons is still a possibility. Nevertheless, the observation that biological weapons which can wipe out the entire world population would replace the nuclear weapons as the major war weaponry after the elimination of all nuclear weapons is accurate. This is because, the global powers cannot exist without seeking another military tool that would keep the political and...
1 Pages(250 words)Essay

Discussion Topic

...The future of military affairs and military theory Grade (November 20, The future of military affairs and military theory The conduct of war is full of uncertainties, and there is absolutely no plan that will ever survive contact with the enemy (Pellegrini, 1997). This simply means that the dangers and threats that comprised the traditional warfare in the ancient human history will continue to be the same through modernity and even into the future. This simply means that some of the Nine Principles of War will never change, but only the circumstances of the war. Nevertheless, one fact is not in contention; that the enemy in the 21st century is highly networked and more decentralized than any enemy that the military had to deal... future of...
1 Pages(250 words)Essay

Discussion Replies

...Future of military affair and military theory Future of military affair and military theory The possibility of future revolutionin military affairs and theory was first discovered by the Soviet Union theorists who identified that advancement in politics and technology was having a considerable impact on the way warfare was being carried out. According to them this revolution began immediately after the First World War and it was driven by emergence of motor vehicles, chemicals and space crafts. It further continued to maximize after World War II with the discovery of computer, weapons of mass destruction (Nuclear) and missiles. These technologies were developed as a result of political tension where all the super powers were... of military...
1 Pages(250 words)Essay

Discussion topic

...Discussion topic affiliation Simple random sampling: This is a method of sampling technique in which every of the subset is having an equal chance of being selected. This type of sampling technique has got a main focus of eliminating biases in-group representation. For example, a research study targeting to interview 20 nurses working in a certain hospital may employ simple random sampling. The researcher will select 20 nurses randomly out of the 75 nurses in the hospital; there is no method of selecting the nurses (Kothari, 2012). Stratified sampling technique This is where a researcher divides the entire population into several subgroups or classification depending on certain parameters. Then the...
1 Pages(250 words)Assignment

Discussion Replies

... posts al Affiliation posts post In this post, the chimpanzee has been correctly placed in the groups that they belong. Their Domain is Eucaria, Kingdom Animalia, and Phylum Chordata. They belong to subphylum Vertebrata, Class Mammalia, Order Primates, Family Pongidae, and Genus Pan. Chimpanzees are closely related to gorillas and human beings. In relation to human beings, they belong in same kingdom, phylum, class, order, and family. Chimpanzees share somethings closely with human beings. The DNA structures are almost similar. Chimpanzees’ ancestors are the Australopithecus and Ardithepithecus. They lived many years ago. Chimpanzees and human beings belong in same groups apart from the Genus and species groups (Lonsdorf, 2010... posts al...
1 Pages(250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Discussion Topic/ Replies for FREE!

Contact Us