4AC009 Economics for Accounting Assessment Answers Australia

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Since business or finance is becoming more global and complex, employers seek candidates who possess the technical and analytical skills required to keep pace along with the changes. Economics and Accounting course has its focal point over economic analytics that makes the students proficient in business management, accounting, corporate finance, and financial markets.

These subjects involve plenty of number-crunching, which employs complex cut-and-dried sets of rules for carrying out transactions. The students must possess practical knowledge and skills to understand and analyse the complicated issues of economic and accounting that usually arise in industrial, business, government or economic environments. Generally, students lack these skills and get stuck in their assignments which consequently lead to poor grades.

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Top Australian Universities Offering Economics, Accounting and Finance Course

• University of Wollongong
• University of Melbourne
• Australian National University
• University of New South Wales Sydney
• University of Queensland
• Monash University
• Queensland University of Technology
• University of Sydney
• University of South Australia
• University of Technology Sydney
• Griffith University

The aforementioned universities are renowned for their quality of teaching and research, and theyoffer diplomas, bachelors, masters and doctoral programs in economics, accounting and finance. Thus, they supply the foundation and advanced studies in the respective field.

When you study in any of these universities, you will benefit from their extensive industrial partners’ network (like CPA Australia, GBA projects, AHRI, Australian Red Cross, etc.). You’ll get a chance to learn from industry professionals, gain valuable insights and establish profitable industry relationships.

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Course Structure

The economics, accounting and finance course usually cover the below-mentioned topics:

• Business Foundations
• Forensic Accounting
• Financial Reporting
• Risk Management
• Management Accounting
• Taxation
• Auditing and Assurance
• Macroeconomics and Microeconomics
• Financial Analytics
• Corporate Finance
• Principles of Economics
• Venture Capital
• Private Equity
• Investment and Portfolio Management
• Ethics, Corporate Government or Law
• Banking and Financial Institutions
• Principles of Economics
• Business Analytics
• Forecasting
• Political Economy

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Learning Outcomes of Course

On successful completion of the course, students can:

• Apply environmental, legal, ethical, and social responsibilities in both local as well as global contexts
• Apply and interpret rules, regulations, or theories to a wide range of complex economic, finance, and accounting situations.
• Communicate accounting or economics-related knowledge and advice to a broad range of stakeholders.
• Hold on at the forefront of laws, accounting research, and software for proficient practice.

Career Opportunities

After completion of the economics, accounting and finance major in the degree course, students are likely to pursue the following careers:

• Chartered Accountant
• Tax Manager
• Valuation Analyst
• Data analyst
• Financial Analyst
• Investment analyst
• Statistician
• Finance Manager
• Financial controller
• Financial planner
• Investment Advisor
• Banker
• Treasurer, Auditor
• Insurance broker
• Budget Analyst
• Business Consultant
• Policy advisor
• Business adviser
• Stockbroker
• Fund manager
• Exporter/importer
• Market researcher

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Discussion Forums

There are several discussion forums like IDEAS, CAClubindia, FEDS, World Economic Forum, Financial Standard, etc., for subscribed members as well as non-subscribers. Such forums are a formal means to get in touch with the professionals worldwide engaged in economics or accounting sectors to work together, have fruitful discussions, plan, and share the latest information. These discussion forums are meant to investigate a range of issues in accounting, finance and economics. They also provide access to numerous events and services for the understanding, development, and practice, especially for subscribers worldwide.

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Challenges in Global Accounting: Peer Reviewed Research Review

Accounting is considered as an intrinsic part of the economic and financial activity of economic entities, irrespective of the industry and type of activity of the functioning of an enterprise.

Global accounting presents various challenges and opportunities for the accountants and managers of organisations globally (Hussein & Mahmood, 2021). The aspect of accounting in the present scenario contains a capital structure or framing decisions depending upon the dividend and includes profit repatriation and capital structuring. With the availability of several financial applications and methods, constructive data can be collected for making effective decisions in the organisation. The fundamental objective of financial accounting is to supply particular information to the stakeholders comprising of creditors, the public, investors, and government authorities (Butenas, 2018).

The primary challenge reported is about the economic environment (Schaltegger et al., 2017). The augmented technological Innovation and development greatly improvised the managers’ competence and skills for effectively managing the various amendments in business operations. However, this has impacted traditional accounting to a great extent. E-accounting applications in the internet environment have been developed in global business operations due to such technological innovations, thus demanding new improvised accounting models (Teru et al., 2019). In many cases, employees lack the efficient skills to manage advanced accounting technologies.

The other key challenges faced by the accounting managers globally in the business economy include multi-jurisdictional reporting, non-financial measures, and financial instruments (Appelbaum et al., 2017). Business organisations have executed numerous practices or policies globally to overcome the several challenges/issues of accounting.

One effective means to overcome the accounting challenges is to implement and use Green accounting practices (Abdullah & Yuliana, 2018). Another efficient practice involves the implementation and exploitation of accounting harmonisation. To overcome the challenges related to non-financial measures in the case of financial accounting, it is recommended for business organisations to employ and execute the accounting practices like effective analysis of customers satisfaction level, employees productive scores, internal/external audit and task completion scores (Leuz, 2018).

The Approach you must Follow While Writing 4AC009 Economics for Accounting and Finance Homework Solutions:

Our highly qualified and experienced experts have a firm grip on the essential concepts of economics, accounting and finance. They suggest you follow the below-mentioned approach to draft a perfect 4AC009 assessment answer:

• Check the type of assignment (essay, customer letter, case studies, literature review, report, etc.) and frame the solution accordingly.
• Note down the desired referencing style (APA, MLA, Chicago, etc.).
• Look for the required formatting style before commencing the assignment solution.
• Carefully note down the overview of the assignment and then prepare a draft after conducting in-depth research by considering authentic sources.
• Write the assignment solution by strictly following the marking rubrics provided by the university.
• Incorporate their knowledge of top themes, including standards of joint endeavour journals, accounts, transfer accounts, record accounts, etc.
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References

Abdullah, M. W., & Yuliana, A. (2018). Corporate environmental responsibility: An effort to develop a green accounting model.Jurnal Akuntansi,22(3), 305-320.

Appelbaum, D., Kogan, A., Vasarhelyi, M., & Yan, Z. (2017). Impact of business analytics and enterprise systems on managerial accounting.International Journal of Accounting Information Systems,25, 29-44.

Butėnas, R. (2018). The Importance of Financial Accounting Information for Business Management.FINIZ 2018-The Role of Financial and Non-Financial Reporting in Responsible Business Operation, 75-81.

Hussein, A. I., & Mahmood, S. M. (2021). Accounting for the future: Technology contributions from a local perspective.Tikrit Journal of Administration and Economics Sciences,17(54 part 2).

Leuz, C. (2018). Evidence-based policymaking: promise, challenges and opportunities for accounting and financial markets research.Accounting and Business Research,48(5), 582-608.

Schaltegger, S., Etxeberria, I. Á., & Ortas, E. (2017). Innovating corporate accounting and reporting for sustainability–attributes and challenges.Sustainable Development,25(2), 113-122.

Teru, S. P., Idoko, I. F., & Bello, L. (2019). The Impact of E-Accounting in Modern Businesses.International Journal of Accounting & Finance Review,4(2), 1-4.