3 Adjusting Accounts and Preparing Financial Statements QUESTIONS 1. The cash basis of accounting reports revenues when cash is received while the accrual basis reports revenues when they are earned. The cash basis reports expenses when cash is paid while the accrual basis reports expenses when they are incurred (and matched with revenues they generated). 2. The accrual basis of accounting generally provides a better indication of company performance and financial condition than does
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ACC 556 – Financial Accounting for Managers Chapter 1 Homework Due Week 1 and worth 10 points Directions: Answer the following four questions on a separate document. Explain how you reached the answer or show your work if a mathematical calculation is needed‚ or both. Submit your homework assignment using the homework assignment link in the course shell. E1-1 Here is a list of words or phrases discussed in this chapter: 1. 2. 3. Corporation Creditor Accounts receivable 4. 5. 6. Partnership Stockholder
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organisational plan and all the related measures that an entity adopts to: * safeguard assets * encourage adherence to company policies * promote operational efficiency * ensure accurate and reliable accounting records. It is either an administrative control or an accounting control Characteristics of an effective internal control system include: * Competent‚ reliable‚ and ethical personnel * Assignment of responsibilities * Proper authorisation * Separation of duties
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FINANCIAL ACCOUNTING I COURSE DESCRIPTION/OBJECTIVES The primary aim of Financial Accounting is to provide students with an introduction to the process and function of financial reporting. Whilst a large proportion of the course is aimed at understanding accounting as a process‚ taking a preparers‟ perspective‚ we will also seek to develop an understanding of the importance of the role of accounting in today’s society. LEARNING OUTCOMES After studying this course the student will be able to understand:
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CHAPTER 1 FINANCIAL ACCOUNTING AND ACCOUNTING STANDARDS Multiple Choice—Conceptual Answer No. Description d 1. Users of financial reports. d 2. Identify the major financial statements. a 3. Financial reporting entity. d 4. Efficient use of resources. d 5. Capital allocation process. c 6. Financial statement information. c 7. Objectives of financial reporting. b 8. Common set of standards and procedures. c 9. Role of SEC. c 10. Powers of the SEC. d 11. SEC enforcement
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2-1 BU8101 Accounting: A User Perspective Lecture 2 The Accounting Cycle Wednesday‚ 17 August 2011 Mrs. Ho Yin Kheng S3-01C-88 Nanyang Business School Nanyang Technological University Email: yklau@ntu.edu.sg Tel: 67905694 2-2 LO 2 Lecture Outline 1. Analyzing Business Transactions 2. Recording Process a. b. c. d. e. f. The Source Document The journal The accounts Debit and Credit rule Recording process illustrated Unadjusted trial balance 3. Adjusting entries
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FACULTY ATTENDANCE USING BIOMETRICS WITH PAYROLL SYSTEM IN CAVITE STATE UNIVERSITY – SILANG CAMPUS Leren Jasper T. Magbujos Dan Louie P. Villacampa Charlene Ann M. Payad INTRODUCTION In modern world there are many systems that are implemented to some industries in order to improve the manual transaction of the University. As new generation comes‚ a new technology has been developed to provide the users a fast and reliable transaction. This study tells the use of computer that will
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Package Scheme of Incentives - 2013 1088/(7056)/IND-8‚ dated the 22/02/1989‚ 19. No. IDL-1093/(8889)/IND-8‚ dated the 07/05/1993‚ 20. No. IDL-1093/(9378)/IND-8‚ dated the 06/07/1994‚ 21. No. IDL-1095/(10092)/IND-8‚ dated the 03/01/1996‚ 22. No. IDL-1096/(13251)/IND-8‚ dated the 12/03/1997‚ 23. No. IDL-1096/(13211)/IND-8‚ dated the 20/06/1997‚ 24. No. IDL-1097/(13563)/IND-8‚ dated the 27/11/1997‚ 25. No. IDL-1097/(13637)/IND-8‚ dated the 28/11/1997‚ 26. No. IDL-1097/(13478)/IND-8‚ dated the 29/11/1997
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language. Use visual cues‚ pointing to things to show what you mean. Approach the individual from the front. An unexpected touch or drawing near from behind may startle and upset the person. Ask only one question at a time and allow time for an answer. If he does not seem to understand‚ repeat the question using the same wording. If this does not work‚ after a few minutes‚ rephrase it. Eliminate distractions‚ such as the TV or radio‚ when talking to the person with dementia. Use humour whenever
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collaborative research. 2 The Iowa Consortium for Substance Abuse Research and Evaluation What has changed? The treatment and prevention fields did not talk too much about evidence based practices. Now it is almost a given that programs and projects use evidence based methods to improve the life of people suffering from substance use disorders and to divert people from ever getting to a problem stage. Programs had little expectation or the capability to independently monitor their clients’
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