1. Sources of GAAP and basic framework and concepts ........................................................... 3 2. Reporting net income ................................................................................................... 14 3. Income statement: Income from continuing operations ................................................................................ 17 Discontinued operations ...............................................................................
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Abstract Have you ever wondered how not-for-profit organizations are not-for-profit? Or how not-for-profit organizations can operate at an accounting profit but still be considered a not-for-profit organization? Over the year’‚ not-for-profit organizations have had many changes in rules and regulations set forth for not-for-profit organizations to abide by. There are three major financial statements involved with not-for-profit organizations and one voluntary financial statement‚ plus four key governmental
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ASSESSMENT CTTLS 1. Understand the use of different assessment methods and the need for record keeping. Identify different assessment methods Assessment is a term given to check that learning has occurred. (Practical Teaching‚ Wilson p. 114) As she explains it can happen at any stage during the learner course. Through this progress toward their qualification the assessments have different objectives and are named differently. There are several assessment methods that we can mention‚ some are formal
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Sustainability reporting‚ alternatively known as CSR reporting‚ is the annual process whereby companies - public‚ private; large and small - report on their sustainability performance. Reports typically cover social‚ environmental‚ economic and ethical performance and incorporate information on a company ’s environmental impact or carbon footprint‚ staff satisfaction‚ community investment etc. Sustainability reporting is becoming increasingly important as a tool companies can use to demonstrate
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INVENTORY MANAGEMENT Introduction The overseeing and controlling of the ordering‚ storage and use of components that a company will use in the production of the items it will sell as well as the overseeing and controlling of quantities of finished products for sale. A business’s inventory is one of its major assets and represents an investment that is tied up until the item is sold or used in the production of an item that is sold. It also costs money to store‚ track and insure inventory. Inventories
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real-world problem. At approximately 8:30 A.M.‚ it arrives in the form of status reports on inventory and orders shipped. At the top of an extensive computer printout is a handwritten note from Joe Donnell‚ the purchasing manager: "Attached you will find the inventory and customer service performance data. Rest assured that the individual inventory levels are accurate because we took a complete physical inventory count at the end of last week. Unfortunately‚ we do not keep compiled records in some
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Ask a Question: The scientific method starts when you ask a question about something that you observe: How‚ What‚ When‚ Who‚ Which‚ Why‚ or Where? And‚ in order for the scientific method to answer the question it must be about something that you can measure‚ preferably with a number. Your Question Do Background Research: Rather than starting from scratch in putting together a plan for answering your question‚ you want to be a savvy scientist using library and Internet research to help you
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primary and secondary methods for obtaining information. Primary methods Horn (2009) points out that primary data refers to information that has been collected for the study in which it is used. In this sense primary data is “new” in that it has not been captured by previous research projects. Anderson (2009) and Bryman and Bell (2007) point out that research projects may typically make use of one or more data-collection methods. Based on their findings I produced the table below to show some characteristics
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Budgeting is the systematic method of allocating financial‚ physical‚ and human resources to achieve an organization ’s strategic goals. Budgets are utilized by for-profit and non-profit organizations to monitor the progress towards the goals‚ assist in the control of spending‚ and help predict cash flow for the organization. The central challenge that budget developers encounter is predicting what the future holds for the internal business and external factors. Reading the future is something
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Unit one: Principles of personal responsibilities and working in a business environment Assessment You should use this file to complete your Assessment. The first thing you need to do is save a copy of this document‚ either onto your computer or a disk Then work through your Assessment‚ remembering to save your work regularly When you’ve finished‚ print out a copy to keep for reference Then‚ go to HYPERLINK "http://www.vision2learn.com" www.vision2learn.com and send your completed Assessment
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