Plagiarism And Its Consequences, Copy-pasting Spreadsheets, Accounting Websites, Accounting Fundamentals, And ABC Learning’s Ethical Issues

Plagiarism and its Definition

Plagiarism means unethical act of a student to copy paste the work of any other student or from any online sources or from any source which is other persons creation. In simple words it means stealing the ideas of others and representing them as their own ideas which is wrong (Blum, S. D., 2009). For example, if a student copies any formula, text or any picture, diagrams from any published material or from any other students’ submitted work, without his/ her permission this seems to be an unethical practice which is called as plagiarism.

There are two alternatives of copy pasting the spreadsheets into word documents rows and columns with proper lining and content are described below:

Alternative- 1

This alternative involves a small process with least efforts as we need to take the formula view of Excel sheet by pressing shortcut key CTRL+ Grave accent (~) and then take the screenshot of the Excel file and then it can be pasted in word document as shown below:

Particulars Save Time On Research and Writing Hire a Pro to Write You a 100% Plagiarism-Free Paper. Get My Paper	Amount
Sales	200000
Variable Cost	120000
Contribution	80000
Fixed Cost	20000
Profit	60000

Alternative- 2

This is a bit lengthy process one as compared to alternative- 1. In this process we need to take the formula view of Excel file as we did in method- 1. After that go to page layout and check the print box under headings. After checking print box click paste special option (paste as picture) in the word file. The example is shown below:

The five accounting websites along with their URLs are given below:

		Explanations
The national Society for Accounts	Home	This is for both Tax and accounting purposes as it covers wider aspect
The Economist	https://www.economist.com/topics/corporate-accounting	This site hosts a blog for corporate accounting, which covers all major topics of accounting.
Accounting Coach	Home	This site is basically a learning site it teaches basic accounting tools and skills.
Accounting for Management	https://www.accountingformanagement.org/	This provides clear, concise explanations for all types of accounting situations.
Dear Drebit	https://www.deardrebit.com/	This site allows professional and students to submit questions regarding accounting.

The CPA Australia is one of the largest organisations in the world for accounting. The CPA Australia majorly handles the accounting professionals of Australia and New Zealand. It has a global membership of around 150000 or more professionals around the world working in 120 countries. The site of CPA Australia avail meaningful resources to the professionals as well as students. The ethical standards of APES code are one of the essential resources available on the website of CPA Australia. These standards can be opened from the website https://www.cpaaustralia.com.au/ under the head professional resources. It is important for students and professionals to have knowledge of ethical standards that are available on CPA’s website.

Cluster Computing refers to a set of computers either loosely or tightly connected with each other so that they can be viewed as one system. Computer clusters have different nodes set to perform the same task, controlled or scheduled by software. The components of cluster are connected through a fast local area network, with each node running at its own instance of an operating system (Hoffmann, K. H. & Meyer A, 2007). The small firms use this computing as they can easily get every systems information handy.

Two Alternatives of Copy-pasting Spreadsheets

A firm looking to set up an accounting business can use the cluster computing environment. In cluster computing environment, the firm will require computing resources such as personal computers, printers, LAN, WAN cables, accounting software’s, antivirus software’s and network. The firm will use nodes to connect different computers.

It is essential for every company or firm to follow basic accounting fundamentals to run its business in a sustainable manner. As we analyse the performance of companies in last few years then we can say that companies are not following these fundamentals and were not able to sustain their business. ABC Learning is basically the example of those companies which are legally sued due to non-observance of these accounting fundamentals.

The financial report of company includes Balance sheet, Income statement and Cash Flow Statement followed by some necessary disclosures and footnotes. These are required to be presented as per the guidelines (Mamic, I, 2017). These reports are made to present the true and fair view of company’s performance, position and liquidity. The income statement shows how much the company earned out of its current years operations. Balance sheet shows the liquidity, true and fair view of company’s assets and liabilities. Stability of the company and its capacity to repay debt and loans. Cash flow statement presents the flow of cash from its operating, investing and financing activities. All the companies are required to follow the financial reporting standards prescribed by the accounting body of the country for the preparation of these financial statements.

ABC Learning an Australian company was engaged in running a childcare centre. The company’s growth rate increased very rapidly as it extended its business in USA and UK. The company acquired many small and medium sized same line businesses in USA and UK. In 2006, the company had 2238 childcare centres in Australia, USA, and UK. The company expended its business so fast that its share prices hiked very much in a very short time span. Its stock price reached to $ 8.60. The investors started to speculate the company’s stock that made its shares to hike up in no time. However, the company was not able to maintain the same growth rate for a longer time, there were many issues raised as it acquired the childcare centres in USA and UK (ABC Learning 2016). The company raised a big amount of debt to acquire the child care centres in USA and UK. The company was not being able to repay that high amount of debt and ultimately went into liquidation.

The primary reason as to why company went into liquidation was its fraudulent practices while forming and reporting its financial statements (Barbler, D 2010). The ethical issues detected in its financial reporting are as follows:

It is necessary to follow corporate governance principles for the smooth functioning of the business and to maintain sustainability. It is essential for the management of the company to have in place its ethical business practices for the long term survival of the business.
The business will face the failure if unethical accounting practices are there.
The principal codes of ethics were breached by the professionals who did the audit of the company’s financial statements.

(B): (1)

Account Title	P A L E R
Loan Payable	L
Rent Expenses	E
Cash	A
Office Supplies	A
Salary expenses	E
Salary Accrued	L
Property Tax Expenses	E
Prepaid Expenses	A
Office Furniture	A
Electricity and Gas Expenses	E
Accounts Payable	L
Trump Capital	P
Service Revenue	R
Accounts Receivable	A
Supplier Expenses	E
Investment	A

(2)

Data Section: Trump Design Studio
	$		$
Loan Payable	5,900.00	Office Furniture	17,600.00
Rent Expenses	12,400.00	Electricity and Gas Expenses	5,500.00
Cash	26,450.00	Accounts Payable	12,300.00
Office Supplies	5,600.00	Trump Capital	40,000.00
Salary expenses	34,000.00	Service Revenue	1,34,500.00
Salary accrued	2,450.00	Accounts Receivable	1,900.00
Property Tax Expenses	1,200.00	Supplier Expenses	3,480.00
Prepaid Expenses	7,600.00	Investment	1,500.00

Report
Trump Design Studio
Income Statement for Year ended on November, 2017
Description	Amount ($)	Amount ($)
A. Service Revenue		1,34,500.00
Rent Expenses	12,400.00
Salary Expenses	34,000.00
Property Tax Expense	1,200.00
Electricity and Gas Expense	5,500.00
Supplier Expense	3,480.00
B. Total		56,580.00
Profit/ Loss (A-B)		77,920.00

(3)

Report
Trump Design Studio
Statement of Drawings
Description	Amount ($)	Amount ($)

Opening Capital Balance		–
Add: Capital Invested		15,000.00
Less- Drawings		(25,000.00)
Closing Capital Balance		40,000.00

(4)

Report
Trump Design Studio
Balance Sheet for Year ended on November 30, 2017
Description	Amount ($)	Amount ($)
Assets
Cash	26,450.00
Office Supplies	5,600.00
Prepaid Expenses	7,600.00
Office Furniture	17,600.00
Accounts Receivable	1,900.00
Investments	1,500.00
Total		60,650.00
Liabilities
Loan Payable	5,900.00
Salary accrued	2,450.00
Accounts Payable	12,300.00
Total		20,650.00
Capital		40,000.00
Total Liabilities and Capital		60,650.00

Q 8 (A) Manual Solution (B)

Data Section: Balance Sheet Equation
		Case-1		Case-2		Case-3
Revenue		800	K			4800
Expenses		400		800		1250
Dividend Received		0		200	Q
Additional Investment Made by Stakeholders		0		190		450
Net Income	E			660	P
Retained Earnings
Beginning of the Year		300		225		2350
End of Year	D		J			2750
Paid- in Capital
Beginning of year		190		445	N
End of year	C		H			6600
Total assets
Beginning of year		640	F		L
End of year		900		1500	M
Total liabilities
Beginning of year	A			370		1500
End of year	B		G			870
Report Section: Balance Sheet Equation	Comments
		Case-1		Case-2		Case-3
Revenue		800	K	1460		4800	K= Net income added to expenses
Expenses		400		800		1250
Dividend declared		0		200	Q	3150	Q= Net income added to beginning retained earnings and ending retained earnigs deducted
Additional Investment by stockholders		0		190		450
Net income	E	400		660	P	3550	E and P= Revenues less expense
Retained earning		0
Beginning of year		300		225		2350
End of year	D	700	J	685		2750	D and J= Retained earning beginning plus net income less dividend declared
Paid-in Capital
Beginning of year		190		445	N	6150	N= Total assets beginning less liabilities beginning less retained earnings beginning
End of year	C	155	H	635		6600	C and H= Total assets ending less liabilities ending less retained earnings ending
Total assets
Beginning of year		640	F	1040	L	10000	F and L= Paid in capital beginning plus retained earning beginnng plus liabilities beginning
End of year		900		1500	M	10220	M= Paid in capital ending plus retained ending plus liabilities ending
Total liabilities
Beginning of year	A	95		370		1500	A= Total assets beginning less paid in capital beginning less retained earnings beginning
End of year	B	135	G	180		870	B and G= Total assets ending less paid in capital ending less retained earnings ending

Two accounts with normal debit balance are:

Plant and Machinery
Accounts Receivables

Two accounts with normal credit balance are:

Debentures
Accounts Payables (Albrecht, W. S., Stice, E. K. & Stice, J. D. 2007).

Manual Solution

Data Section: Trogir Deliveries
	$		$
Capital	10,88,000.00	Trucks	4,04,000.00
Insurance expense	5,900.00	Fuel expense	1,58,000.00
Accounts payable	46,700.00	Drawings	27,500.00
Service revenue	2,34,560.00	Electricity expense	8,760.00
Building	5,67,000.00	Accounts receivables	38,700.00
Supplies expenses	2,780.00	Bills payable	34,900.00
Cash	35,600.00	Supplies	13,456.00
Salary expense	14,500.00	Equipment	1,28,000.00

Report Section
Trogir Deliveries
Trial balance as on 30 June 2017
	$	$
	Debit	Credit
Cash	35,600.00
Accounts receivables	38,700.00
Supplies	13,456.00
Trucks	4,04,000.00
Building	5,67,000.00
Equipment	1,28,000.00
Accounts payable		46,700.00
Bills payable		34,900.00
Capital		10,88,000.00
Drawings	27,500.00
Service revenue		2,34,560.00
Fuel expense	1,58,000.00
Supplies expenses	2,780.00
Salary expense	14,500.00
Insurance expense	5,900.00
Electricity expense	8,760.00
Total	14,04,196.00	14,04,160.00
Three Figures of Trial Balance Changed
	$	$
	Debit	Credit
Cash	33,400.00	–
Accounts receivables	38,700.00	–
Supplies	13,456.00	–
Trucks	4,04,000.00	–
Building	5,47,000.00	–
Equipment	1,28,000.00	–
Accounts payable	–	44,500.00
Bills payable	–	34,900.00
Capital	–	10,88,000.00
Drawings	27,500.00	–
Service revenue	–	2,14,560.00
Fuel expense	1,58,000.00	–
Supplies expenses	2,780.00	–
Salary expense	14,500.00	–
Insurance expense	5,900.00	–
Electricity expense	8,760.00	–
Total	13,81,996.00	13,81,960.00

There are some expenses and incomes that require period end adjustments. They are the items which are either accrued or are to be deferred because of being paid in advance. The two types of adjusting entries are accrued income and accrued expenses.

S. No.

Particulars

Debit

Credit

Service Revenue A/C Dr

To Unearned Revenue

(Being $700 received for which services are yet to be performed)

500.00

Rent Expenses A/C Dr

To Rent Payable

(Being $200 rent of last 3 quarters is yet to be paid)

200.00

Current Assets: Current assets are those assets which we can convert into cash within one year. Current assets includes cash and cash equivalents, Accounts receivables, stock.

Non- Current Assets: Non-Current assets are those assets which we cannot convert into cash within one year. These are those assets which give us some future economic benefit and these assets will deplete over time. For Example: Buildings, Investments, Plant and Machinery (Kolitz, D. L., Quinn, A. B. & McAllister, G 2009).

Current Ratio = Current Assets/ Current Liabilities. Current Ratio measures the firm’s ability to cover its current liabilities as its having sufficient balance to repay its current obligations within a year.

For Example:

Current assets	1500000
Current Liabilities	750000
Current Ratio	2

Data Section: Gareval Motors
Account	Debit	Credit
Cash	44,500.00
Accounts receivables	1,32,000.00
Supplies	24,500.00
Prepaid insurance	3,456.00			Additional data
Equipment	4,47,000.00			Depreciation on equipment	1290
Accumulated depreciation		1,07,890.00		Accrued Wages expense	600
Accounts payable		1,45,890.00		Supplies on hand	780
Wages payable		16,789.00		Prepaid insurance expired during june	780
Unearned service revenue		12,345.00		Unearned service revenue earned in june	6754
Capital		3,08,012.00		Accrued service revenue	800
Drawings	28,900.00
Service revenue		2,67,890.00
Depreciation and expenses
Wages expenses	1,65,900.00
Insurance expenses
Utilities expenses	12,560.00
Supplies expenses
Total	8,58,816.00	8,58,816.00

Report Section
Gareval Motors
The worksheet for the period ended 30th June 2017
	Unadjusted trial	Adjustments	Adjusted trial	Balance sheet	Income statement
	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit
Cash	44,500.00				44,500.00		44,500.00	0
Accounts receivables	1,32,000.00				1,32,000.00		1,32,000.00	0
Supplies	24,500.00			23,720.00	780.00		780.00	0
Prepaid insurance	3,456.00			780	2,676.00		2,676.00	0
Accrued revenue			800		800.00		800.00	0
Equipment	4,47,000.00		1290		4,48,290.00		4,48,290.00	0
Accumulated depreciation	–	1,07,890.00		1290		1,09,180.00	–	109180
Accounts payable	–	1,45,890.00				1,45,890.00	–	145890
Wages payable	–	16,789.00		600		17,389.00	–	17389
Unearned service revenue	–	12,345.00	6754			5,591.00	–	5591
Capital	–	3,08,012.00				3,08,012.00	–	308012
Drawings	28,900.00	–			28,900.00		28,900.00	0
Service revenue	–	2,67,890.00		7554		2,75,444.00				2,75,444.00
Depreciation and expenses	–	–			–				–	–
Wages expenses	1,65,900.00	–	600		1,66,500.00				1,66,500.00	–
Insurance expenses	–	–	780		780.00				780.00	–
Utilities expenses	12,560.00	–			12,560.00				12,560.00	–
Supplies expenses		–	23,720.00		23,720.00				23,720.00	–
Total	8,58,816.00	8,58,816.00	33,944.00	33,944.00	8,61,506.00	8,61,506.00	6,57,946.00	5,86,062.00	2,03,560.00	2,75,444.00
Net income/loss									71,884.00
								71,884.00
Balancing							6,57,946.00	6,57,946.00

Data Section
Account	Debit	Credit
Cash	26,460.00
Accounts receivables	1,00,000.00			Additional data
Supplies	25,000.00			Depreciation on equipment	1290
Prepaid insurance	3,456.00			Accrued Wages expense	600
Equipment	4,47,000.00			Supplies on hand	780
Accumulated depreciation		1,07,890.00		Prepaid insurance expired during june	780
Accounts payable		1,40,890.00		Unearned service revenue earned in june	6754
Wages payable		16,789.00		Accrued service revenue	800
Unearned service revenue		12,345.00
Capital		3,08,012.00
Drawings	28,900.00
Service revenue		2,67,890.00
Depreciation and expenses
Wages expenses	2,00,000.00
Insurance expenses
Utilities expenses	23,000.00
Supplies expenses
Total	8,53,816.00	8,53,816.00
Gareval Motors
Worksheet (with four changes) period ended 30th June 2016
	Unadjusted trial	Adjustments	Adjusted trial	Balance sheet	Income statement
	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit
Cash	26,460.00				26,460.00		26,460.00	0
Accounts receivables	1,00,000.00				1,00,000.00		1,00,000.00	0
Supplies	25,000.00			24,550.00	450.00		450.00	0
Prepaid insurance	3,456.00			780	2,676.00		2,676.00	0
Accrued revenue			800		800.00		800.00	0
Equipment	4,47,000.00		1290		4,48,290.00		4,48,290.00	0
Accumulated depreciation	–	1,07,890.00		1290		1,09,180.00	–	109180
Accounts payable	–	2,33,890.00				2,33,890.00	–	233890
Wages payable	–	16,789.00		600		17,389.00	–	17389
Unearned service revenue	–	12,345.00	6754			5,591.00	–	5591
Capital	–	3,08,012.00				3,08,012.00	–	308012
Drawings	28,900.00	–			28,900.00		28,900.00	0
Service revenue	–	2,67,890.00		7554		2,75,444.00				2,75,444.00
Depreciation and expenses	–	–			–				–	–
Wages expenses	2,85,000.00	–	600		2,85,600.00				2,85,600.00	–
Insurance expenses	–	–	780		780.00				780.00	–
Utilities expenses	31,000.00	–			31,000.00				31,000.00	–
Supplies expenses		–	24,550.00		24,550.00				24,550.00	–
Total	9,46,816.00	9,46,816.00	34,774.00	34,774.00	9,49,506.00	9,49,506.00	6,07,576.00	6,74,062.00	3,41,930.00	2,75,444.00
Net income/loss									(66,486.00)
								(66,486.00)
Balancing							6,07,576.00	6,07,576.00

References:

ABC Learning (2016). ABC Learning: ASIC probe ends; founder Eddie Groves exits bankruptcy, viewed on 09- December-2017 < https://www.abc.net.au/news/2016-02-23/abc-learning-probe-ends-as-founder-eddie-groves-exits-bankruptcy/7192952>.

Barbler, D (2010). ABC Learning creditors to decide wind up, viewed on 10- December-2017, < https://www.brisbanetimes.com.au/national/queensland/abc-learning-creditors-to-decide-wind-up-20100319-qiu2.html>.

Blum, S. D. (2009). My Word!: Plagiarism and College Culture, Cornell University Press.

Gibson, C (2008). Financial Reporting and Analysis: Using Financial Accounting Information, Cengage Learning.

Grier, W. A. (2007). Credit Analysis of Financial Institutions, Euromoney Books.

Hurst, D (2010). Failed ABC Learning wound up, viewed on 09- December- 2017 < https://www.smh.com.au/business/failed-abc-learning-wound-up-20100602-wzrs.html>.

Kolitz, D. L., Quinn, A. B. & McAllister, G (2009). Concepts-Based Introduction to Financial Accounting, Juta and company.

Mamic, I (2017). Implementing Codes of Conduct: How Businesses Manage Social Performance in Global Supply Chains, Routledge.

Mash, B (2012). Plagiarism: Alchemy and Remedy in Higher Education, Suny Press.Nguyen, K (2010). Financial Statement Fraud: Motives, Methods, Cases and Detection, Universal-Publishers.

Hoffmann, K. H. & Meyer A (2007). Parallel Algorithms and Cluster Computing: Implementations, Algorithms and Applications, Springer Science & Business Media.

Albrecht, W. S., Stice, E. K. & Stice, J. D. (2007). Financial Accounting, Cengage Learning.

Turn in your highest-quality paper
Get a qualified writer to help you with

“ Plagiarism And Its Consequences, Copy-pasting Spreadsheets, Accounting Websites, Accounting Fundamentals, And ABC Learning’s Ethical Issues ”

Get high-quality paper

NEW! AI matching with writer