ACCOUNTING TECHNIQUES 2
Accounting Techniques
Introduction
Ideally, in the field of accounting, accuracy is one of the critical factors that is highly
observed when it comes to data designing and analysis. Studies suggest that in practice the
approach towards strategic management accounting is at best one of the crucial dimension that
accounting practitioners should consider so as to enhance effectiveness as well efficiency in the
accounting processes. Notwithstanding, today’s accounting practices have lost a lot of relevancy
considering the recent business environment. The continuous changing accounting environment
has led to intense challenges that are usually faced by accounting practitioners today. One of the
significant challenges that are as a result of the undergoing changes within the accounting
environment is that of false positive. According to Miller, (2018, web), a false positive can be
viewed to as a dismissal or a rejection of a null hypothesis when the hypothesis is true. It can
also be regarded to as a test result which wrongly suggests that a particular attribute or outcome
is present. One of the significant disadvantages of false positive is that it gives misleading
information, it also makes it hard to speculate about the future. False positive also increases the
issues of inaccuracy a situation which should be highly avoided in the field of accounting.
Further, Miller contends that one of the significant ways to counter this emerging
accounting challenge is through the use of a Fit Occupancy Model (FOM). This model
simultaneously accounts for false positives against the collected/gathered data (Miller, 2018,
web). Another strategy that can be deployed to counter this challenge is that of doublechecking
on the expected outcomes against the actual collected data.
Bribery and kickbacks are not only limited to the political sphere since today they are a
real part of the business. In general, a bribe is a normal term for giving someone something of
