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100-555: As of November 1, 2010, Jens Wüstemann is President of the school. The school is located in the city of Mannheim , Baden-Württemberg in Germany at Mannheim Palace , one of the largest baroque castles in Europe . International students at the school account for more than 60 percent. With class sizes ranging from a minimum of 30 participants in the Executive MBA programs to a maximum of 60 in

200-700: A double-entry bookkeeping system was the Summa de arithmetica , published in Italy in 1494 by Luca Pacioli (the "Father of Accounting"). Accounting began to transition into an organized profession in the nineteenth century, with local professional bodies in England merging to form the Institute of Chartered Accountants in England and Wales in 1880. Both the words "accounting" and "accountancy" were in use in Great Britain by

300-493: A GMAT score (€200 tuition fee reduction with a score equal to or greater than 650). In 2008, Mannheim Business School became the first institution in the German-speaking region to attain the ' Triple Crown '. Fewer than 1% of the estimated 10,000 business schools worldwide have accreditations from AACSB International , EQUIS and AMBA , the three leading international business school accreditation associations. In addition,

400-489: A broad range of research areas including financial accounting , management accounting , auditing and taxation . Accounting research is carried out both by academic researchers and practicing accountants. Methodologies in academic accounting research include archival research, which examines "objective data collected from repositories "; experimental research, which examines data "the researcher gathered by administering treatments to subjects "; analytical research, which

500-458: A company may be legally required to have their financial statements audited by a qualified auditor, and audits are usually carried out by accounting firms . Accounting firms grew in the United States and Europe in the late nineteenth and early twentieth century, and through several mergers there were large international accounting firms by the mid-twentieth century. Further large mergers in

600-662: A globally leading company. The part-time program is structured in 12 modules which take place every second month. The 24 months program starts yearly in September and is spread over three calendar years. This program also includes two international study trips. The Mannheim Executive MBA is a weekend-based part-time program (18 months). It starts every year in April and is spread over two calendar years. The program mainly takes place in Mannheim but offers one study trip to Asia and one study trip to

700-410: A higher humidity in summer which causes a higher heat index. Snow is rare, even in the cold months. Precipitation occurs mostly during afternoon thunderstorms during the warmer period (average days of thunderstorms in a year is 40–50). The climate in this area has mild differences between highs and lows, and there is adequate rainfall year-round. The Köppen Climate Classification subtype for this climate

800-509: A key role in Germany's war economy. This contributed to the fact that, on 27 May 1915, Ludwigshafen was the world's first civilian settlement behind the battle lines to be bombed from the air. French aircraft attacked the BASF plants, thereby killing twelve people. The precedent was set for this attack by Germany's repeated air raids against British civilian populations throughout southeastern Britain during

900-629: A new location. At the old location, there is a monument to Friedrich Schiller and the Zum Zwischen-Akt pub. The housing shortage led to the development of many new residential areas. In 1964, the City Hospital ( Städtisches Krankenhaus ) became part of the Heidelberg University for Clinical Medicine in Mannheim . In 1967, the University of Mannheim was established in the city. In 1975,

1000-450: A percentage of overall income). Forensic accounting is a specialty practice area of accounting that describes engagements that result from actual or anticipated disputes or litigation . " Forensic " means "suitable for use in a court of law", and it is to that standard and potential outcome that forensic accountants generally have to work. Political campaign accounting deals with the development and implementation of financial systems and

1100-433: A recent study based on academic author rankings concludes that the competitive value of a single publication in a top-ranked journal is highest in accounting and lowest in marketing. The year 2001 witnessed a series of financial information frauds involving Enron , auditing firm Arthur Andersen , the telecommunications company WorldCom , Qwest and Sunbeam , among other well-known corporations. These problems highlighted

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1200-399: A result of the first admissions of fraudulent behavior made by Enron. The act significantly raises criminal penalties for securities fraud , for destroying, altering or fabricating records in federal investigations or any scheme or attempt to defraud shareholders. Accounting fraud is an intentional misstatement or omission in the accounting records by management or employees which involves

1300-558: A result of the invention of the pre-combustion chamber by Prosper L'Orange , Benz & Cie. developed the world's first compact diesel-powered car at its motor works in Mannheim in 1923. In 1922, the Grosskraftwerk Mannheim (Mannheim large power station) was opened. By 1930, the city, along with its sister city of Ludwigshafen, which had developed out of the old Mannheim Rheinschanze, had a population of 385,000. During World War II , air raids on Mannheim completely destroyed

1400-639: A single professional accounting body and, in some other countries, professional bodies for subfields of the accounting professions also exist, for example the Chartered Institute of Management Accountants (CIMA) in the UK and Institute of management accountants in the United States. Many of these professional bodies offer education and training including qualification and administration for various accounting designations, such as certified public accountant ( AICPA ) and chartered accountant . Depending on its size,

1500-451: A temporary transport system. A number of major projects were completed in the 1980s and 1990s: a planetarium, an extension to the art gallery, the new Reiß Museum, Stadthaus, a new May Market ground, synagogue, mosque, State Museum for Technology and Work , Carl-Benz stadium and the Fahrlach tunnel were opened. Mannheim has lost many industrial jobs, although in the recent past, the city

1600-518: Is " Cfb " (Marine West Coast Climate/ Oceanic climate ), bordering closely on a humid subtropical climate (Cfa), with summer months often averaging above 21 degrees (71 F). Mannheim, population 315,000, is the 2nd largest city in Baden-Württemberg . Its location near the Rhine and Neckar rivers spurred Mannheim's industrialization and transition into a major city in the early 19th century. The city

1700-883: Is "based on the act of formally modeling theories or substantiating ideas in mathematical terms"; interpretive research, which emphasizes the role of language, interpretation and understanding in accounting practice, "highlighting the symbolic structures and taken-for-granted themes which pattern the world in distinct ways"; critical research, which emphasizes the role of power and conflict in accounting practice; case studies ; computer simulation ; and field research . Empirical studies document that leading accounting journals publish in total fewer research articles than comparable journals in economics and other business disciplines, and consequently, accounting scholars are relatively less successful in academic publishing than their business school peers. Due to different publication rates between accounting and other business disciplines,

1800-502: Is Germany's leading university in the fields of business and economics and attracts students from around the world. Described by Die Zeit as the ' Harvard of Germany', it is seen as the training grounds of German business leaders. More than 12,000 students were enrolled in the 2013/14 semester. The university town also houses one of the medical schools of Heidelberg University (at the University Hospital Mannheim ),

1900-507: Is a cathedral, a theatre which is considered good, an observatory, a gallery of pictures at the château, and some private collections. About two kilometres (one point two miles) below the town the Russian Army crossed the Rhine in 1813. Population 18,300. During the eighteenth century, Mannheim was the home of the " Mannheim School " of classical music composers . Mannheim was said to have one of

2000-522: Is a large château here belonging to the Grand Duke and a very good garden; part of the château was destroyed when the town was bombarded and has never since been repaired, the other part is occupied by the Grand Duchess, widow of the late Grand Duke who was succeeded by his uncle having left only three daughters. She is the sister of Eugene Beauharnais [sic; in fact, she was his second cousin]. There

2100-524: Is a modular part-time program with 6 modules which last nine to eleven days. Modules are held on a bi-monthly basis alternately in Mannheim and Shanghai . The program is flexible and can be either completed within 18 months or extended over a period of up to 42 months. The program can be started with the May module (Mannheim) or the September module (Shanghai). The Mannheim Master of Accounting & Taxation ( M.Sc .)

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2200-567: Is a modular part-time program with an overall program duration of 30 months. Core courses in methods, business and technology optimally prepare students to successfully master the challenges of digitalization. The Mannheim Master in Management Analytics is taught primarily in German language (70%, 30% of classes are taught in English). Executive education and the digital learning platform complete

2300-458: Is a part of an organization's information system used for processing accounting data. Many corporations use artificial intelligence-based information systems. The banking and finance industry uses AI in fraud detection. The retail industry uses AI for customer services. AI is also used in the cybersecurity industry. It involves computer hardware and software systems using statistics and modeling. Many accounting practices have been simplified with

2400-598: Is a part-time program. Students can either choose the Accounting Track or the Taxation Track. Both tracks are offered in a modular format, with an overall program duration of three years. The Mannheim Master of Accounting & Taxation is taught primarily in German language and prepares for the German Tax Advisor or German Certified Public Accountant Exam. The Mannheim Master in Management Analytics ( M.A. )

2500-538: Is closely related to developments in writing , counting and money ; there is also evidence of early forms of bookkeeping in ancient Iran , and early auditing systems by the ancient Egyptians and Babylonians . By the time of Emperor Augustus , the Roman government had access to detailed financial information. Many concepts related to today's accounting seem to be initiated in medieval's Middle East. For example, Jewish communities used double-entry bookkeeping in

2600-573: Is derived from the French word compter , which is also derived from the Italian and Latin word computare . The word was formerly written in English as "accomptant", but in process of time the word, which was always pronounced by dropping the "p", became gradually changed both in pronunciation and in orthography to its present form. Accounting has variously been defined as the keeping or preparation of

2700-510: Is home to many factories, offices and headquarters of several major corporations such as Roche , ABB , IBM , Siemens , Unilever and more. Mannheim's SAP Arena is home to German ice hockey record champions Adler Mannheim as well as the popular handball team Rhein-Neckar Löwen . Since 2014, Mannheim has been a member of the UNESCO Creative Cities Network and holds the title of " UNESCO City of Music ". In 2020, Mannheim

2800-885: Is located at the confluence of the Upper Rhine and the Neckar in the Kurpfalz ( Electoral Palatinate ) region of northwestern Baden-Württemberg. The city lies in the Upper Rhine Plain , Germany's warmest region, between the Palatine Forest and the Oden Forest . Mannheim forms a continuous urban zone of around 500,000 inhabitants with Ludwigshafen am Rhein in the Rhineland-Palatinate , while some northern suburbs lie in Hesse . Hamburg

2900-467: Is structured in core courses and electives and starts every year in September. Students of the MBA Full-Time program can choose from two options to complete their degree. They can either finish within 12 months and directly start a job or prolong their MBA experience by three months and use this additional term for an exchange with one of the schools renowned partner institutions abroad or an internship at

3000-580: Is the Romanesque Mannheim Water Tower , completed in 1886 and rising to 60 metres (200 feet) above the highest point of the art nouveau area Friedrichsplatz . Mannheim is well-known for its inventions, including the automobile , the bicycle , and the tractor , which is why the city is often called the "city of inventions". The city is the starting and finishing point of the Bertha Benz Memorial Route , which follows

3100-443: Is the largest global accountancy body with over 320,000 members, and the organisation provides an 'IFRS stream' and a 'UK stream'. Students must pass a total of 14 exams, which are arranged across three levels. Accounting research is research in the effects of economic events on the process of accounting, the effects of reported information on economic events, and the roles of accounting in organizations and society. It encompasses

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3200-481: Is the only other German city with such a presence in two states other than its own. Central Mannheim's streets and avenues are laid out in a grid pattern unusual for German cities, leading to its nickname Quadratestadt ( Square City ) and tourism slogan " Leben im Quadrat " (" Life in the Square "). Within a ring of avenues surrounding the city centre, there are squares, numbered from A1 to U6, instead of street names. At

3300-450: Is transacted between companies with a common parent company (subsidiaries). Auditing is the verification of assertions made by others regarding a payoff, and in the context of accounting it is the " unbiased examination and evaluation of the financial statements of an organization". Audit is a professional service that is systematic and conventional. An audit of financial statements aims to express or disclaim an independent opinion on

3400-437: Is usually attributed to the Italian mathematician and Franciscan friar Luca Pacioli . Today, accounting is facilitated by accounting organizations such as standard-setters, accounting firms and professional bodies . Financial statements are usually audited by accounting firms, and are prepared in accordance with generally accepted accounting principles (GAAP). GAAP is set by various standard-setting organizations such as

3500-550: The American Institute of CPA's (AICPA) 150 semester hour requirement, and associate membership with the Certified Public Accountants Association of the UK is available after gaining a degree in finance or accounting. A doctorate is required in order to pursue a career in accounting academia , for example, to work as a university professor in accounting. The Doctor of Philosophy (PhD) and

3600-527: The Association of MBAs ( AMBA ). The school was founded in 2005 when the faculty of business of the University of Mannheim decided to bundle their MBA programs and their executive education offerings. Christian Homburg became first president of Mannheim Business School. Jens Wüstemann was appointed as the 2nd president of the school in November 2010. The business school offers four international MBA programs:

3700-622: The Bundesgartenschau ( Federal horticulture show ) was celebrated in Luisen and Herzogenried parks. A number of pieces of infrastructure were developed for the show: the telecommunications tower and a second bridge across the Rhine (the Kurt Schumacher Bridge ) were built, the pedestrian zone was established, the new Rosengarten conference centre was opened and the Aerobus was installed as

3800-612: The Doctor of Business Administration (DBA) are the most popular degrees. The PhD is the most common degree for those wishing to pursue a career in academia, while DBA programs generally focus on equipping business executives for business or public careers requiring research skills and qualifications. Professional accounting qualifications include the chartered accountant designations and other qualifications including certificates and diplomas. In Scotland, chartered accountants of ICAS undergo Continuous Professional Development and abide by

3900-675: The FEI European Jumping Championships in 2007 14–19 August, in the MVV-riding stadium. In 2002, Hobby Horse Polo was invented in Mannheim, evoking the classical rivalry towards "polite society" in Heidelberg. The Maimarkt-Turnier Mannheim is an annual international horse show held during the Mannheimer Maimarkt since 1964. According to Forbes magazine, Mannheim is known for its exceptional inventive power and

4000-723: The Financial Accounting Standards Board (FASB) in the United States and the Financial Reporting Council in the United Kingdom . As of 2012, "all major economies" have plans to converge towards or adopt the International Financial Reporting Standards (IFRS). Accounting is thousands of years old and can be traced to ancient civilizations . One early development of accounting dates back to ancient Mesopotamia and

4100-883: The Hochschule Mannheim , a branch of the Duale Hochschule of the State of Baden-Württemberg and several musical and theatrical academies, including the Pop Academy Mannheim, the Musikhochschule and the Theaterakademie. These institutions draw a large and diverse student body. Accounting This is an accepted version of this page Accounting , also known as accountancy , is the process of recording and processing information about economic entities , such as businesses and corporations . Accounting measures

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4200-530: The International Accounting Standards Board (IASB) issues the International Financial Reporting Standards (IFRS) implemented by 147 countries. Standards for international audit and assurance, ethics, education, and public sector accounting are all set by independent standard settings boards supported by IFAC. The International Auditing and Assurance Standards Board sets international standards for auditing, assurance, and quality control;

4300-677: The International Ethics Standards Board for Accountants (IESBA) sets the internationally appropriate principles-based Code of Ethics for Professional Accountants ; the International Accounting Education Standards Board (IAESB) sets professional accounting education standards; and International Public Sector Accounting Standards Board (IPSASB) sets accrual-based international public sector accounting standards. Organizations in individual countries may issue accounting standards unique to

4400-667: The Nine Years' War . After the rebuilding of Mannheim that began in 1698, the capital of the Electorate of the Palatinate was moved from Heidelberg to Mannheim in 1720 when Karl III Philip, Elector Palatine began construction of Mannheim Palace and the Jesuit Church ; they were completed in 1760. In 1819, Norwich Duff wrote of Mannheim: Mannheim is in the Duchy of Baden and situated at

4500-520: The University City of Mannheim ( German : Universitätsstadt Mannheim ), is the second-largest city in Baden-Württemberg after Stuttgart , the state capital, and Germany 's 21st-largest city , with a population of around 317,000. The city is the cultural and economic centre of the Rhine-Neckar , Germany's seventh-largest metropolitan region , with nearly 2.4 million inhabitants. Mannheim

4600-506: The " Rhine shift ". In summer, temperatures sometimes rise up to 35 °C (95 °F) and higher. The highest recorded temperature was 39.8 °C (104 °F) on 7 August 2015. The daily lows during heat waves can be very high for the latitude (around 25 °C / 77 °F). In September 2016, the average temperature in Mannheim was 18.6 °C, highest in Baden-Württemberg. In comparison to other regions of Germany, Mannheim has

4700-451: The 2010s, partially due to its large university population. The following list shows the most significant groups of foreigners in the city of Mannheim by nationalities. In total 44,7% of all Mannheim inhabitants are from foreign descent. The Neckarstadt-West district has the biggest foreign population with 68,9%, while the Wallstadt district has the smallest one with 23,1%. A large part of

4800-536: The Business School of the University of Mannheim. It brings together the Mannheim faculty and executives of companies to form a network and interaction platform for a regular exchange of ideas between the academic and professional worlds. America Europe Asia Mannheim Mannheim ( German pronunciation: [ˈmanhaɪm] ; Palatine German : Mannem or Monnem ), officially

4900-791: The ICAS code of ethics. In England and Wales, chartered accountants of the ICAEW undergo annual training, and are bound by the ICAEW's code of ethics and subject to its disciplinary procedures. In the United States , the requirements for joining the AICPA as a Certified Public Accountant are set by the Board of Accountancy of each state , and members agree to abide by the AICPA's Code of Professional Conduct and Bylaws. The ACCA

5000-471: The IFRS. At least a bachelor's degree in accounting or a related field is required for most accountant and auditor job positions , and some employers prefer applicants with a master's degree . A degree in accounting may also be required for, or may be used to fulfill the requirements for, membership to professional accounting bodies. For example, the education during an accounting degree can be used to fulfill

5100-485: The Mannheim Master of Business Administration , which can be absolved in both full or part-time; the Mannheim Executive MBA ; the ESSEC & MANNHEIM Executive MBA ; and the MANNHEIM & TONGJI Executive MBA . Furthermore, the school offers a specialized master program in Accounting and Taxation and a part-time master program in Management Analytics . The Mannheim MBA program is offered either full-time (12 months) or part-time (24 months): The full-time program

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5200-422: The Mannheim Master of Accounting & Taxation program is also accredited by the national accreditation agency AQAS . Mannheim Business School is certified by evalag (Evaluationsagentur Baden-Württemberg) according to Section 33 (2) LHG (university law of the state of Baden-Wuerttemberg). The association ‘Partner der Mannheimer Betriebswirtschaftslehre e.V.’ was founded by Mannheim Business School and

5300-413: The Oststadt-Theater, the TIG7 (Theater im Quadrat G7), the Theater Oliv, the Freilichtbühne, the Theater31, the Theater ImPuls, the Theater Felina-Areal, the Mannheimer Puppenspiele, the Kleinkunstbühne Klapsmühl', Schatzkistl, and zeitraumexit . There are two nationally renowned football clubs in Mannheim, SV Waldhof Mannheim , who currently are playing in the third tier 3. Liga , but who have played in

5400-660: The United States concentrates on the preparation, analysis and presentation of tax payments and tax returns. The U.S. tax system requires the use of specialised accounting principles for tax purposes which can differ from the generally accepted accounting principles (GAAP) for financial reporting. U.S. tax law covers four basic forms of business ownership: sole proprietorship , partnership , corporation , and limited liability company . Corporate and personal income are taxed at different rates, both varying according to income levels and including varying marginal rates (taxed on each additional dollar of income) and average rates (set as

5500-473: The United States. The ESSEC & MANNHEIM Executive MBA is a modular part-time program (18 months) with one week of lectures every eight weeks. The program starts every year in October and takes place in Mannheim and Paris in turns. The schedule includes one study trip to Asia and one study trip to the United States . Students are awarded with a double degree from both schools ( ESSEC /France and MBS /Germany). The MANNHEIM & TONGJI Executive MBA

5600-746: The accounting of financial transactions in compliance with laws governing political campaign operations. This branch of accounting was first formally introduced in the March 1976 issue of The Journal of Accountancy . Professional accounting bodies include the American Institute of Certified Public Accountants (AICPA) and the other 179 members of the International Federation of Accountants (IFAC), including Institute of Chartered Accountants of Scotland (ICAS), Institute of Chartered Accountants of Pakistan (ICAP) , CPA Australia , Institute of Chartered Accountants of India , Association of Chartered Certified Accountants (ACCA) and Institute of Chartered Accountants in England and Wales (ICAEW). Some countries have

5700-446: The best court orchestras in Europe under the leadership of the conductor Carlo Grua . The royal court of the Palatinate left Mannheim in 1778, as Charles Theodore had become Elector of Bavaria and moved to Munich . Two decades later, in 1802, Mannheim was removed from the Palatinate and given to the Grand Duchy of Baden . In 1819, August von Kotzebue was assassinated in Mannheim. The climate crisis of 1816–17 caused famine and

5800-417: The city centre. Mannheim was heavily damaged during aerial bombing by the Royal Air Force (RAF) and the United States Army Air Forces (USAAF). Allied bombing raids razed the city centre of Mannheim at night-time area bombing , killing thousands of civilians. In the meantime, 2,262 of Mannheim's Jews were sent to Nazi concentration camps . Some sources state that the first deliberate strategic bombing of

5900-412: The city was a centre for political and revolutionary activity. In 1865, Friedrich Engelhorn founded the Badische Anilin- und Soda-Fabrik (Baden Aniline and Soda Factory, BASF ) in Mannheim, but the factory was constructed across the Rhine in Ludwigshafen because Mannheim residents feared air pollution from its operations. From this dye factory, BASF has developed into the largest chemical company in

6000-402: The city was first recorded as Mannenheim in a legal transaction in 766, surviving in a twelfth-century copy in the Codex Laureshamensis from Lorsch Abbey . The name is interpreted as "the home of Manno", a short form of a Germanic name such as Hartmann or Hermann . Mannheim remained a mere village throughout the Middle Ages. In 1606, Frederick IV, Elector Palatine started building

6100-403: The confluence of the Rhine and Neckar over both of which there is a bridge of boats. This is the third town of this name having been twice burnt. The houses are large, and the streets are broad and at right angles to each other, and is one of the most airy clean towns I have seen in Germany. It was formerly fortified, but the fortifications were razed in 1806 and gardens fill their places. There

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6200-497: The countries. For example, in Australia, the Australian Accounting Standards Board manages the issuance of the accounting standards in line with IFRS. In the United States the Financial Accounting Standards Board (FASB) issues the Statements of Financial Accounting Standards, which form the basis of US GAAP , and in the United Kingdom the Financial Reporting Council (FRC) sets accounting standards. However, as of 2012 "all major economies" have plans to converge towards or adopt

6300-409: The death of many horses in Mannheim. That year Karl Drais invented the first bicycle. Infrastructure improvements included the establishment of Rhine Harbour in 1828 and the construction of the first Baden railway , which opened from Mannheim to Heidelberg in 1840. Influenced by the economic rise of the middle class, another golden age of Mannheim gradually began. In the March Revolution of 1848 ,

6400-424: The development of new regulations to improve the reliability of financial reporting, and increased public awareness about the importance of having accounting standards that show the financial reality of companies and the objectivity and independence of auditing firms. In addition to being the largest bankruptcy reorganization in American history, the Enron scandal undoubtedly is the biggest audit failure causing

6500-401: The dissolution of Arthur Andersen , which at the time was one of the five largest accounting firms in the world. After a series of revelations involving irregular accounting procedures conducted throughout the 1990s, Enron filed for Chapter 11 bankruptcy protection in December 2001. One consequence of these events was the passage of the Sarbanes–Oxley Act in the United States in 2002, as

6600-516: The early-medieval period and Muslim societies, at least since the 10th century also used many modern accounting concepts. The spread of the use of Arabic numerals , instead of the Roman numbers historically used in Europe, increased efficiency of accounting procedures among Mediterranean merchants, who further refined accounting in medieval Europe . With the development of joint-stock companies , accounting split into financial accounting and management accounting . The first published work on

6700-542: The financial records of transactions of the firm, the analysis, verification and reporting of such records and "the principles and procedures of accounting"; it also refers to the job of being an accountant . Accountancy refers to the occupation or profession of an accountant, particularly in British English . Accounting has several subfields or subject areas, including financial accounting , management accounting , auditing , taxation and accounting information systems . Financial accounting focuses on

6800-499: The financial statements. The auditor expresses an independent opinion on the fairness with which the financial statements presents the financial position, results of operations, and cash flows of an entity, in accordance with the generally accepted accounting principles (GAAP) and "in all material respects". An auditor is also required to identify circumstances in which the generally accepted accounting principles (GAAP) have not been consistently observed. An accounting information system

6900-455: The financials may be presented in financial reports, is known as bookkeeping , of which double-entry bookkeeping is the most common system. Accounting information systems are designed to support accounting functions and related activities. Accounting has existed in various forms and levels of sophistication throughout human history. The double-entry accounting system in use today was developed in medieval Europe, particularly in Venice , and

7000-422: The first German Football League which is called GFL1. As of 2018, between 500 and 900 people watch each game. Rhein-Neckar Löwen are a handball team playing in the professional German Handball League . The WWE visited Mannheim in 2008. Around 10,000 fans attended the event. UFC fighter Dennis Siver lives and trains in Mannheim. Mannheim hosted the European Show Jumping Championships in 1997, and

7100-412: The first half of 1915. When Germany lost the war in 1918, according to the peace terms, the left bank of the Rhine was occupied by French troops. The French occupation lasted until 1930, and some of Ludwigshafen's most elegant houses were erected for the officers of the French garrison. After the First World War , the Heinrich Lanz Company built the Bulldog, an advanced tractor, powered by heavy oil. As

7200-613: The former highest German ice hockey league known as Bundesliga ). The city is home to the Mannheim Tornados , the oldest operational baseball and softball club in Germany. The Tornados play in the first division of the Baseball Bundesliga and have won the championship 11 times, more than any other club. In 2003, the American football club Mannheim Bandits  [ de ] was founded. The Mannheim Bandits are playing in

7300-511: The fortress of Friedrichsburg and the adjacent city centre with its grid of streets and avenues. On 24 January 1607, Frederick IV gave Mannheim the status of a "city", whether it really was one by then or not. Mannheim was mostly levelled during the Thirty Years' War around 1622 by the forces of Johan Tilly . After being rebuilt, it was again severely damaged by the French Army in 1689 during

7400-515: The full-time MBA program, Mannheim Business School hosts a student body of 650 postgraduates in the degree programs on average. Mannheim Business School is considered the best German and one of the leading European business schools by several national and international rankings. It is triple accredited by the European Quality Improvement System ( EQUIS ), the Association to Advance Collegiate Schools of Business ( AACSB ) and

7500-839: The goals of an organization. In management accounting, internal measures and reports are based on cost–benefit analysis , and are not required to follow the generally accepted accounting principle (GAAP). In 2014 CIMA created the Global Management Accounting Principles (GMAPs) . The result of research from across 20 countries in five continents, the principles aim to guide best practice in the discipline. Management accounting produces past-oriented reports with time spans that vary widely, but it also encompasses future-oriented reports such as budgets . Management accounting reports often include financial and non financial information, and may, for example, focus on specific products and departments. Intercompany accounting focuses on

7600-546: The help of accounting computer-based software . An enterprise resource planning (ERP) system is commonly used for a large organisation and it provides a comprehensive, centralized, integrated source of information that companies can use to manage all major business processes, from purchasing to manufacturing to human resources. These systems can be cloud based and available on demand via application or browser, or available as software installed on specific computers or local servers, often referred to as on-premise. Tax accounting in

7700-499: The immigrants are from the Balkans and European countries. The distribution of Mannheim's population by religious affiliation (as of December 31, 2020) is Roman Catholic 25.4%, Protestant 20.0%, and other/ none 54.6%. The National Theatre Mannheim was founded in 1779 and is the oldest "Stage" in Germany. In 1782 the premiere of Die Räuber , written by Friedrich Schiller , was shown. Recently, smaller stages have opened, such as

7800-575: The late twentieth century led to the dominance of the auditing market by the "Big Five" accounting firms: Arthur Andersen , Deloitte , Ernst & Young , KPMG and PricewaterhouseCoopers . The demise of Arthur Andersen following the Enron scandal reduced the Big Five to the Big Four . Generally accepted accounting principles (GAAP) are accounting standards issued by national regulatory bodies. In addition,

7900-404: The measurement, analysis and reporting of information between separate entities that are related, such as a parent company and its subsidiary companies. Intercompany accounting concerns record keeping of transactions between companies that have common ownership such as a parent company and a partially or wholly owned subsidiary. Intercompany transactions are also recorded in accounting when business

8000-663: The mid-1800s and are derived from the words accompting and accountantship used in the 18th century. In Middle English (used roughly between the 12th and the late 15th century), the verb "to account" had the form accounten , which was derived from the Old French word aconter , which is in turn related to the Vulgar Latin word computare , meaning "to reckon". The base of computare is putare , which "variously meant to prune, to purify, to correct an account, hence, to count or calculate, as well as to think". The word " accountant "

8100-423: The need to review the effectiveness of accounting standards , auditing regulations and corporate governance principles. In some cases, management manipulated the figures shown in financial reports to indicate a better economic performance. In others, tax and regulatory incentives encouraged over-leveraging of companies and decisions to bear extraordinary and unjustified risk. The Enron scandal deeply influenced

8200-419: The needs of decision-makers. Financial accounting produces past-oriented reports—for example financial statements are often published six to ten months after the end of the accounting period—on an annual or quarterly basis, generally about the organization as a whole. Management accounting focuses on the measurement, analysis and reporting of information that can help managers in making decisions to fulfill

8300-546: The old fairground, and the new Schafweide tram line. The concept of the anniversary of the city is aimed at a diverse range of events without a dominant central event. In 2001, the City hospital was officially and legally awarded with the title University Hospital Mannheim . In 2023, Mannheim hosted the Bundesgartenschau 2023 (National Garden Show); the second time after 1975. Mannheim is located in Germany's warmest summer region,

8400-683: The portfolio of the Mannheim Business School. Mannheim Business School offers customized programs which are tailored to the individual needs of an organization. Examples of current focus topics include Business Analytics , Innovation Development and Leadership 4.0. MBSx makes it possible to study independent of time and place. The learning platform provides comprehensive Massive Open Online Courses (MOOC) and courses on select management topics. Examples of current MOOCs cover Digital Talent Management, People Analytics and Evidence-Based Management. The admission to Mannheim's full-time MBA program

8500-444: The reporting of an organization's financial information to external users of the information, such as investors, potential investors and creditors. It calculates and records business transactions and prepares financial statements for the external users in accordance with generally accepted accounting principles (GAAP). GAAP, in turn, arises from the wide agreement between accounting theory and practice, and changes over time to meet

8600-415: The reporting of an organization's financial information, including the preparation of financial statements , to the external users of the information, such as investors, regulators and suppliers . Management accounting focuses on the measurement, analysis and reporting of information for internal use by management to enhance business operations. The recording of financial transactions, so that summaries of

8700-500: The results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors , creditors , management , and regulators . Practitioners of accounting are known as accountants . The terms "accounting" and " financial reporting " are often used interchangeably. Accounting can be divided into several fields including financial accounting , management accounting , tax accounting and cost accounting . Financial accounting focuses on

8800-578: The southern base of that system is Mannheim Palace , one of the largest palace complexes in the world. It was the former home of the Prince-elector of the Electoral Palatinate, and now houses the University of Mannheim , which repeatedly receives top marks in business administration and is sometimes known as the " Harvard of Germany". The Mannheim May Market is the largest regional consumer exhibition of Germany. The civic symbol of Mannheim

8900-506: The top tier, the Bundesliga ; and VfR Mannheim , winner of the German championship in 1949 , now playing in the sixth tier Verbandsliga Baden . The Adler Mannheim (formerly MERC, Mannheimer Eis- und Rollsport-Club) is an ice hockey team playing in the professional Deutsche Eishockey Liga , having won the German championship a total of eight times (7 times Deutsche Eishockey Liga and one time

9000-689: The tracks of the first long-distance automobile trip in history. A Großstadt (major city with more than 100,000 inhabitants) since 1896, Mannheim is now an important industrial and commercial city, a university town , and a major transportation hub between Frankfurt and Stuttgart, including an ICE interchange (the Mannheim Hauptbahnhof ), Germany's second-largest marshalling yard (the Mannheim Rangierbahnhof ), and Germany's largest inland port (the Mannheim Harbour ). The city

9100-416: The use of deception. It is a criminal act and a breach of civil tort. It may involve collusion with third parties. An accounting error is an unintentional misstatement or omission in the accounting records, for example misinterpretation of facts, mistakes in processing data, or oversights leading to incorrect estimates. Acts leading to accounting errors are not criminal but may breach civil law, for example,

9200-473: The war occurred at Mannheim during a Royal Air Force night raid on 16 December 1940. Today around one third of the city consists of buildings from before 1950. In late March 1945, the Allied ground advance into Germany reached Mannheim, which was potentially well-defended by German forces. However, the German forces abandoned the city and the U.S. 44th Infantry Division entered unopposed on 29 March 1945. There

9300-519: The world. After opening a workshop in Mannheim in 1871 and patenting engines from 1878, Karl Benz patented the first motor car in 1886. He was born in Mühlburg (now part of Karlsruhe). The Schütte-Lanz company , founded by Karl Lanz and Johann Schütte in 1909, built 22 airships. The company's main competitor was the Zeppelin works. When World War I broke out in 1914, Mannheim's industrial plants played

9400-567: Was classified as a global city with ' Sufficiency ' status by the Globalization and World Cities Research Network (GaWC). Mannheim is a smart city ; the city's electrical grid is installed with a power-line communication network. A brick kiln excavated in 1929 in the Seckenheim district, which operated from 74 AD to the early second century, attests to settlement in Roman times. The name of

9500-525: Was economically dominated by manufacturing. The city tried in the past to prevent the establishment of service providers by designating some locations as industrial areas. A prime example of the current trend is the construction of the Victoria Tower (Victoria-Turm) in 2001, one of the tallest buildings in the city, on railway land. Mannheim celebrated its 400th anniversary with a series of cultural and other events throughout 2007. The 400th anniversary proper

9600-521: Was heavily damaged during WWII but soon regained prominence as an industrial centre, causing rapid population growth in the 1950s. Many motor, electronic and power plant companies came to Mannheim and other cities in the Rhine-Neckar Region, including Ludwigshafen and Heidelberg , which lies just kilometres up the Neckar. The population of Mannheim started to decline in the 1980s but began to rebound in

9700-512: Was in 2006, since Frederick IV, Elector Palatine laid the foundations of Mannheim citadel on 17 March 1606. In preparation for the anniversary, some urban activities were implemented, beginning in 2000: the building of the SAP Arena with access to the city's new eastern ring road, the rehabilitation of the pedestrian zone in Breite Straße, the arsenal and the palace, the complete transformation of

9800-460: Was later a large American military occupation presence in the Mannheim area with up to 10 barracks. The first one shut down in 2007 and the last was closed in 2013 (see United States military installations below). Rebuilding of the city began industriously. Mannheim Palace and the water tower ( Wasserturm ) eventually were rebuilt and the National Theatre was replaced by a new building at

9900-638: Was ranked 11th among the Top 15 of the most inventive cities worldwide. Many significant inventions were made in Mannheim: The University of Mannheim is one of Germany's younger universities. Although founded in 1967, it has its origins in the Palatine Academy of Sciences , established in 1763, and the former Handelshochschule (Commercial College), founded in 1907. Situated in Mannheim Palace , it

10000-518: Was rated as the most selective in Europe, on par with the HEC Paris MBA and with an acceptance rate of only 20%. Admission requirements for the Mannheim full-time MBA include an internationally recognized academic degree in any discipline (at least a Bachelor’s), at least 3 years of postgraduate working experience, fluency in English (TOEFL with a minimum score of 95, IELTS with a minimum score of 7.0) and

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