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ACC 701 Financial Accounting Assignment

   

Added on  2020-02-19

13 Pages2832 Words40 Views
Running head: FINANCIAL ACCOUNTINGFinancial AccountingName of the StudentName of the UniversityAuthors NoteCourse ID
ACC 701 Financial Accounting Assignment_1
1FINANCIAL ACCOUNTINGExecutive Summary:Winding up is largely known as the process of liquidation of companies that is linked withthe process through which the business affairs of the company are wounded up. The currentreport is based on the assessment of the reasons behind the decline of companies such asABC Learning, HIH Insurance and One Tel Phone Company. The study will provide theoverview of the company with decisions that have contributed to the demise of the respectivecompany. The study will also highlight the poor ethics adopted by the company withimproper due diligence in regarded to the corporate performance of the company.
ACC 701 Financial Accounting Assignment_2
2FINANCIAL ACCOUNTINGTable of ContentsIntroduction:...............................................................................................................................2Overview of the companies:.......................................................................................................2Events that contributed to the winding up and the failure of corporate governance:................4Ethical Strain:.............................................................................................................................6Recommendations:.....................................................................................................................8Conclusion:................................................................................................................................8Reference List:...........................................................................................................................9
ACC 701 Financial Accounting Assignment_3
3FINANCIAL ACCOUNTINGIntroduction:Winding up is more popularly known as the process of liquidation of the companythat is associated with the proceedings through which all the affairs of the business are woundup. Its rights and liabilities are discerned and the claims of the creditors are settled eithercompletely or to the extent as it may be warranted by the assets of the company. Largenumber of the companies functions at the discretion of the board of directors (Carlonet al.2015). The board of directors forms the central part of the management of the company. Theypossess of powers of undertaking the decision for the company. The decisions are usuallyundertaken in context with the interest of the shareholders and stakeholders of theorganization. Decision-making forms the effective tool in determining the longevity of theorganization as it forms the essence of survival for the organization. The effective operations of any organizations is generally regarded the corporategovernance. The effectiveness of the performance of an organization is based on theprinciples, guidelines and the provisions of numerous statutes that is prevalent in a nation(Macve 2015). Failure to abide by the principles of governance will reflect an organizationsincapability of complying with the guiding principles of effective governance. The study isbased on the determining the winding up of the companies such as ABC Learning, HIHInsurance and One Tel phone company (Atrill and McLaney 2016). The report also focuseson the reason behind the liquidation of the above stated companies together with theprinciples of ethics and corporate governance. Overview of the companies:ABC Learning:
ACC 701 Financial Accounting Assignment_4

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