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Political Influence on Accounting Practices

   

Added on  2020-03-28

17 Pages4158 Words33 Views
FinancePolitical Science
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Running head: ACCOUNTING THEORY AND CURRENT ISSUESAccounting theory and current issuesName of the studentName of the universityAuthor note
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1ACCOUNTING THEORY AND CURRENT ISSUESTable of ContentsIntroduction................................................................................................................................3Part b..........................................................................................................................................4i.Accounting policies and estimates......................................................................................4ii.Flexibilities in accounting policies.....................................................................................4iii.Accounting policies and estimates used by the rival company.......................................4iv.Comparison of accounting policies.................................................................................5v.Estimates and policies.........................................................................................................5vi.Accounting strategy........................................................................................................6vii.Red flags in accounting report........................................................................................6viii.Accounting policies and estimates..................................................................................6Part c...........................................................................................................................................7i.Various political pressures and its impact on accounting standard setting.........................7ii.Implications for making particular assumptions whether voluntarily or due to a mandate8iii.Possible implications for making specific accounting choice.........................................8Part d..........................................................................................................................................8i.Flexibilities in accounting policies.....................................................................................8ii.Accounting policies and estimates used by the rival company..........................................9iii.Estimates and policies...................................................................................................10iv.Comparison of accounting policies...............................................................................11v.Estimates and policies.......................................................................................................11
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2ACCOUNTING THEORY AND CURRENT ISSUESvi.Accounting strategy......................................................................................................12vii.Red flags in accounting report......................................................................................13viii.Accounting positions.....................................................................................................14Reference..................................................................................................................................15
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3ACCOUNTING THEORY AND CURRENT ISSUESStarbucks CorporationIntroductionOriginally Starbucks Corporation was established in America with coffee andcoffeehouse chain during 1971 and at present it runs more than 23,750 stores all over theworld. The company is represented as the second wave coffee and primarily it distinguishedthem from their competitors through customer experience, quality and taste. Starbuck was atthe technology forefront for improving the operational efficiencies. This has been achievedthrough application of various equipments that were used for manufacturing the coffee alongwith the improvement in added benefits for services at their shops and they also introducedthe system of advanced payments for the customers. They also introduced clover machine forproducing high standard filtered coffee (Starbucks Coffee Australia 2017). Further, the company positioned itself in better position with regard to theirrelationships with the distribution and supply channels. Further, through the “first moveradvantage” they bilt the major relationship with the fair trade for coffee suppliers and assuredthat they will store their chains in the key locations. This strategy of key store locations aswell as the monopoly with regard to supplier’s access protects them from the threat of newentrants in the coffee industry (Deegan 2013). Most of the people are surprised after finding out that the mission statement ofStarbucks is not associated with the coffee rather its mission is wider than the beverages andthe store chains are expanding continuously which in turn create and thrive the customers totreat them uniquely through the unique experience. Their mission is to nurture and inspire thespirit of people and the tagline is – “one person, one neighbourhood and one cup at the same
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