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    Accounting Research Essay

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    Insatiable Life
    This document discusses accounting research and the role of the finance department at ONEIC. Accounting research examines how economic events impact accounting procedures and how reported accounting information impacts the economy. It uses the scientific method to study all aspects of the accounting profession. The finance department at ONEIC oversees the organization's finances through activities like financial planning and reporting, treasury management, and ensuring financial compliance. Some of its key functions include liquidity assessment, cash forecasting, processing payment vouchers, managing letters of credit, and using petty cash.

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    Accounting Research Essay

    Uploaded by

    Insatiable Life
    205 views4 pages
    This document discusses accounting research and the role of the finance department at ONEIC. Accounting research examines how economic events impact accounting procedures and how reported accounting information impacts the economy. It uses the scientific method to study all aspects of the accounting profession. The finance department at ONEIC oversees the organization's finances through activities like financial planning and reporting, treasury management, and ensuring financial compliance. Some of its key functions include liquidity assessment, cash forecasting, processing payment vouchers, managing letters of credit, and using petty cash.

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    This document discusses accounting research and the role of the finance department at ONEIC. Accounting research examines how economic events impact accounting procedures and how reported accounting information impacts the economy. It uses the scientific method to study all aspects of the accounting profession. The finance department at ONEIC oversees the organization's finances through activities like financial planning and reporting, treasury management, and ensuring financial compliance. Some of its key functions include liquidity assessment, cash forecasting, processing payment vouchers, managing letters of credit, and using petty cash.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    205 views4 pages

    Accounting Research Essay

    Uploaded by

    Insatiable Life
    This document discusses accounting research and the role of the finance department at ONEIC. Accounting research examines how economic events impact accounting procedures and how reported accounting information impacts the economy. It uses the scientific method to study all aspects of the accounting profession. The finance department at ONEIC oversees the organization's finances through activities like financial planning and reporting, treasury management, and ensuring financial compliance. Some of its key functions include liquidity assessment, cash forecasting, processing payment vouchers, managing letters of credit, and using petty cash.

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    © All Rights Reserved
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    The passage discusses the evolution of accounting research from normative to positive and how it now examines how accounting impacts and is impacted by the world. It also plays an important role in creating new knowledge.

    The finance department directs and manages ONEIC's economy and funds by evaluating capital markets, the organization's financial plan, and financial management approaches. Its main functions include financial activities, finance planning, financial reporting, treasury management, financial planning, and accounting and financial compliance.

    The treasury bank area handles liquidity measurements, cash forecasting, payment vouchers, receipt vouchers, letters of credit, and petty cash vouchers. It also records bank and cash receipts.

    Accounting research is very hard to define because it has shifted over the time.

    The early accounting

    research was mostly normative i.e. disputed for the correct accounting treatment. It has advances in

    finance such as the efficient hypothesis of market, making of huge sets of data and the statistical

    capabilities to analyze them i.e. the computer and it has moved into the positive research i.e. investigating

    what is rather than what it should be. Therefore, a cynical definition of the research is any paper that cites

    a lot of other accounting papers must be the accounting research. However, it looks at how the accounting

    impacts the world around us and how the world affects the accounting. Moreover, it plays very important

    role in making new knowledge. The difficult sciences have produced models of the research and testing

    that can be utilized and applied over numerous disciplines involving the accounting research. Utilizing

    these models along with the evidence such as the financial statements, prices of stocks, surveys,

    simulations of computer, experiments and proofs of mathematics, we can increase a scientific perspective

    and the basis for the following such as the implementing and deciding the new standards of accounting,

    presenting the unusual economic transactions in the financial statements, new laws of tax affect the

    employers and the clients and accounting profession impacts the capital markets through the academic

    accounting research.

    Accounting research is the research on the impacts of the economic events on the procedure of

    accounting, and the impacts of reported information on the economic events. It encompasses a broad

    range of areas of research including the financial accounting, management accounting, auditing and

    taxation. Academic accounting research addresses all aspects of the accounting profession using the

    scientific method, while research is by practicing the accountants’ focuses on solving the issues for a

    client or team of clients. Accounting research can create the important contribution to the practice of

    accounting, although changes in the accounting in accounting education and the academia of accounting

    in present decades has led to a divide between the academia and the exercise in accounting.

    The financial department of ONEIC is a noteworthy department that is associated with the overseeing of

    the organization's economy and funds. The department is going by a financial administrator. ONEIC
    finance department directs and deals with the ONEIC economy and funds by assessing capital markets,

    the organization's financial plan, and the financial establishment approaches. The department of finance at

    ONEIC has the accompanying jobs; financial activities, finance preparing, financial revealing, treasury

    the board, financial arranging, the board bookkeeping and financial consistence.

    The few operations from the treasury bank, general record, and finance area of the finance department of

    ONEIC. From the treasury bank area of the finance department of ONEIC, the capacity to gain

    proficiency with the accompanying critical procedures that happen in the areas for with the point of

    achieving the targets and objectives of the organization (Cohen, 2008). Initially, what an organization's

    liquidity involves and that is the liquidity of some random organization alludes to the capacity of the

    organization to accomplish its transient financial commitments. At ONEIC, what helps the organization in

    the estimating of its capacity to accomplish the momentary commitments are the liquidity proportions.

    ONEIC effectively does this by looking at the most liquid assets of the organization, those assets that

    might be effectively changed over into money, with the organization's momentary liabilities.

    An organization that has a low inclusion rate must advise the speculators since it may be a sign that the

    business will experience issues while accomplishing its transient financial objectives just as running its

    day by day tasks. The liquidity proportions are regularly founded on the present proportion, cash

    proportion, snappy proportions, and the cycle of cash transformation as fundamental estimations of a

    business' liquidity and while still in the treasury bank area of the finance department of ONEIC, able to do

    cash estimating.

    Cash gauging alludes to the demonstrating of a business' future financial liquidity over a specific time

    allotment. The cash estimating process helps in the catching of the treasury position of an organization.

    The cash stream of an organization is the adjustment in treasury or cash position from one period to the

    next and to set up a worksheet of cash anticipating of an organization. The worksheet empowers one to

    make a position report for cash the executives, make revealing worksheets for the intraday bank, position
    worksheet the executives just as making cash position worksheets. I discovered that the aftereffects of the

    cash estimate empower a cash administrator in review the cash position in numerous measurements, for

    example, money, financial balance, and specialty unit.

    From the treasury bank segment of the finance department of ONEIC, I had the capacity to comprehend

    the working of the installment voucher. An installment voucher alludes to the business report that might

    be utilized as proof demonstrating that there has happened a money related exchange between two

    gatherings (Blythe, 2009). In an organization, installment voucher might be utilized to achieve different

    purposes, for example, taking the piece of cash amid the exchange, is utilized as a receipt and

    demonstrating that a given receipt has turned out to be endorsed for installment done by an organization

    and ready to do receipt voucher. At ONEIC, receipt voucher is regularly used to record bank receipt or

    cash receipt. ONEIC utilizations two sorts of receipt vouchers; bank receipt voucher and cash receipt

    voucher. The cash receipt voucher is utilized in indicating of a receipt of cash while the bank receipt

    voucher is utilized to demonstrate the receipt of interest draft or a check.

    Furthermore, to complete a letter of credit and it is utilized to allude to a letter from a bank that ensures

    that the purchaser's installment to the vender will be set aside a few minutes and the installment will have

    the right sum. In a situation whereby the purchaser can't make the required installment on the products

    obtained, the bank will be made to cover the purchaser's remaining or everything of the buy. The act of

    the utilization of a letter of credit has turned out to be increasingly well known and basic in the universal

    exchange because of worldwide dealings nature that incorporates difficulties, for example, varying

    guidelines in each nation, separation, and difficulties in seeing by and by each gathering that is included.

    ONEIC regularly utilizes propelled installments, TT for making global installments, quick installments

    just as contract installment. Trivial cash alludes to the little cash sum which is utilized to take into account

    the satisfying the little sums that is claimed by an organization as opposed to having the organization

    utilizing a check to make installments. ONEIC utilizations trivial cash voucher to make installment.
    Before ONEIC settles the little sums owed, the organization makes a synopsis of the frivolous cash that it

    gets and after that proceeds to make installment. Therefore, choosing accounting for the career path

    because it is along with the technical skills such as being able to perform the calculations quickly and

    develop the skills that can easily be transferred into the workforce.

    Reference

     Blythe, S. (2009). Payment voucher generation for financial transactions. U.S. Patent Application

    11/963,268.

     Cohen, M. Dwyer, P. & Ginters, L. (2008). Performing: reconciliation and redressive action.

    Victor Turner and Contemporary Cultural Performance, pp.76-93.

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