Contemporary Issues in Accounting Essay Example | Topics and Well Written Essays - 3500 words

Contemporary Issues in Accounting - Essay ExampleToyota ride Corporation, Japans largest and the worlds 4 carmaker by 2003 sales (after General Motors, Ford, and Daimler Chrysler), had a wide range of products and strong provoker names with high quality image. Toyotas growing reputation for quality and the very small numbers of expert problems in its vehicles generated interesting customer loyalty and a growing demand for its products. Toyota management was managing the companys inventory, costs and efficacy very successfully and was applying cost reduction programs very well. Toyota had riving ambition to become greener. The company made a hybrid-powered (gas and electric) sedan- the prius- that had already been snapped up in U.S. and European markets. Toyota also made huge investments in developing fuel-cell engine room for its vehicles. Its gas-powered cars, pick-ups, minivans, and SUVs included such models as the Camry, Celica, Corolla, 4Runner, Echo, Land Cruiser, Sienna, the luxury Lexus line, and a full-sized pick-up truck, the v-8 Tundra. With its wide distribution communication channels, strong channel efficiency and effectiveness, Toyota was successfully competing with the worlds upper three auto makers and poised to replace GM in the natural elevation spot this decade.Toyota was known world-wide for its up-to-date vehicles, strong vehicle design, comfortableness, safety, strong resistance to wind and rollover, low fuel consumption, presence of electronic and other devices in the vehicles, and strong reputation for luxury. Surveys, however, rated the attractiveness and comfort of its passenger cars as mediocre. Also rated mediocre was the off-road excellence of its SUVs. Toyota was a leader in technological improvements, such as drive, output signal and vehicle construction technology and had a solid ability to design and innovate new products, to split up its products, to innovate new vehicle lines, and to extend existing vehicle lines.Six stakeholders of CompanyIn the subject field of Toyota the stakeholders or the users of the annual reports include present and potential investors, employees, lenders, suppliers and other trade creditors, customers, governments and their agencies and the existence. They use financial reports in order to satisfy some of their different needs for information (Australian Accounting Standards Board, 2004).The improvement in public scrutiny and the controlled market discipline is largely dependent upon the meaningful and accurate manifestation of information. This not yet helps the shareholders but also helps the organisation to conduct business in a safe and efficient flair by achieving their targets through improving their risk management processes. The researchers find many gaps in the appropriate disclosure of risk by the organisations. Many surveys have been