Essays on Warfield

Introduction

Capital budget analysis refers to the process through which the way a firm invests capital in projects that result in cash flows over a period of more than one year. The analysis is built on the assumption that the firm depends on the specific project or projects under analysis in order to operate and consequently, it becomes important to test whether or not the projects being considered would be viable. Notably, capital budget analysis comes with several assumptions including the estimations of cash flows from the specific project as well as the assumption on the state of the economy ...

Abstract

The narrative report is prepared to provide a clear understanding of the prudence concept and historical information attributed to this concept. The prudence concept was applied in 1989 that was not included in the external references of 2010. The IASB observed that the concept was missing or ignored, so they provided an amended definition of the prudence in accounting. The significance of the inclusion of this concept is necessary to provide a clear and complete view of the financial position of users. The prudence concept is related to neutrality and conservatism, so it is badly affected by the adverse ...

Delta Airlines Inc. is a household brand not only the United States but also in 64 other countries around the world. The company was founded on May 30, 1924, marking a 91 years reign since it first opened doors as a crop dusting operation, Huff Daland Dusters, in Macon, Georgia. Delta started providing passenger services on June 17, 1929, making it one of the oldest airlines in the world. In 2013, Delta Airlines Inc. was reported to be the world's largest airline based on the number of scheduled passengers. The company was the second largest concerning the revenue passenger ...

In the current century, the accounting and finance field have witnessed increased efforts to converge accounting standards to globally accepted universal standards. The fact owes to the dire need of increasing comparability of the financial statements of different firms in the various countries. Undoubtedly, there exist key areas of departure in different accounting standards applied in different countries. Of more interest, is the difference that exists between the two dominant accounting systems used by various corporations around the globe. That is the U.S. Generally Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS). It is, however, worth ...

Q1. Accounting standards play a significant role in the financial statements preparation process. The main international standard-setting organization is the International Accounting Standards Board (IASB) headquartered in London. It issues International Financial Reporting Standards (IFRS) which are used in more than 115 countries and is gaining acceptance in other states as well. These standards are also used on most foreign exchanges. Moreover, the IASB also issues framework for financial reporting and international financial reporting interpretations. Besides, the International Organization of Securities Commissions (IOSCO) also plays a significant role in the international standard-setting process. It doesn’t develop accounting standards, ...

Nursing is a profession that rotates around (1) encouraging, upholding and reinstating health in people, (2) It as well necessitates the prevention of ailments and diseases and supporting individuals until they are competent enough to look after for themselves. Nursing practice can also be influenced by (3) the philosophical foundations of the profession, which is identified as a significant, factor in job satisfaction (International Council of Nurses, 2001).

Nursing is a profession that rotates around encouraging, upholding and reinstating health in people. Many people have the misconception that nursing only entails giving care. They overlook the fact that nursing also helps in ...

ANALYSIS TOOLS

Owners of businesses are always looking for the best ways to make their business decisions. Accounting information is one of the tools that can be of great help to business managers in making decisions concerning the operations of the business (Bragg, 2011). In accounting, analysis refers to the assessment of the profitability, viability and stability of a business. These assessments are carried out by professionals in the accounting arm of the business; they prepare reports using ratios that make use of the information acquired from the financial statements and other reports of the company. These are then presented to the ...