Modern Accounting Systems Essay Example | Topics and Well Written Essays - 1000 words

Modern Accounting Systems - Essay Example Contrary to ‘paper-based accounting systems’, where older documentations are hard to assess because the amount of paper rises with the passage of time, modern systems can conveniently show old records as well as trends supported by past years. Executives can check with old financial plans and cost data to advance existing estimations. When exterior circumstances modify, modern systems have the capability to forecast outcomes for various situations, letting administration to develop estimating with forecasts for all eventualities. While not capable of eliminating ‘human error’, modern accounting systems have confirmation abilities that lessen the occurrence of such mistakes. â€Å"Once the data is entered correctly, it is permanently captured and reading errors are eliminated† (Turner & Weickgennant, 2008). Programmers can configure fields so that the system just allows information in the right design. They can inflict information confirmation so the s ystem verifies whether the information is rational, and discards it if it is not. These actions perk up the accurateness of information as well as the consistency of management estimates, lessening costly errors within operations based on such information.The objective of nearly all companies is to make a profit. Accounting lets company owners to trace report and evaluate their company’s financial records. Accounting offers information involving â€Å"earnings, the cost of merchandise sold, operating expense, assets, liabilities and owner’s equity†.

Ehical perspective of business Assignment Example | Topics and Well Written Essays - 1000 words

Ehical perspective of business - Assignment Example Business and individuals therefore when left on its will do whatever it takes to make a profit. It can only be mitigated by introducing ethics to temper its greed and have a sense of responsibility. Unethical practices are just very common particularly in business. Even us, as consumers are part of it without even knowing it. Once classic example is our participation and our encouragement for sweatshops to flourish by our patronage to their products. They employ bondage and child labor with despicable working conditions and they continue to exist because of us. And just when we thought that big businesses are not involved in employing sweatshops, we are very wrong because they are. Worst, they will even distance themselves and deny it when they are caught. I can cite the example of Swedish fast-fashion retailer  Hennes & Mauritz who subcontracted to a sweat shop in Cambodia whose building collapsed that killed many of its workers. Instead of being remorseful, Hennes & Mauritz instead denied approval of their orders to the factory to distance itself from the issue (O’Keeffe and Narin). Another company involved is Asics, a Japanese sneaker company. Asics however took a different approach and instead said that it will conduct an investigation to mitigate public anger of being a party to employing sweatshops (Cheang). These cases illustrate that business is indeed amoral that put ethics in business may seem to be an oxymoron because they contradict each other (Crane and Matten, 2006). This would not have happened without our participation and part of the equation of the blame is on us because we patronize and even seek products that are made from sweatshops. Actions which may be considered unethical such as deception and use of sweatshops may even become permissible as long they can become profitable. And if they are exposed, they will readily deny involvement