Name________________________ Student #_____________________ MGT 181 L. Jean Dunn‚ Jr. MIDTERM EXAMINATION 1. Describe the following finance career opportunities. (5 points) Hedge Fund Manager Manage funds for high net worth individuals‚ family trusts and pension funds. Investment Banker: An intermediary who arranges the sale of stock and bonds to raise capital for corporations. Also involved in arranging mergers and acquisitions of companies. 2. Draw a typical
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Cash vs. Accrual Accounting Learn which accounting method is better for your business. RELATED PRODUCTS MORE >>[->0] [->1]&&[->2] Legal Forms for Starting & Running a Small Business[->3] [->4] Quicken Legal Business Pro 2013[->5] [->6] Independent Contractor Agreement for Software Consultant (for Firm)[->7] [->8] Invoice[->9] #right_col #afcSlot_0{height:auto !important;}.googleAdBlock{height:auto !important;} Related Ads Ads by Google[->10] SimplyCash® Business Card[->11]
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Running head: ACCOUNTING PRINCIPLES Generally Accepted Accounting Principles P G HCS 571 June 5‚ 2013 Generally Accepted Accounting Principles Generally accepted accounting principles (GAAP)‚ are standards and guidelines for financial accounting‚ and reporting‚ (Office of Financial Management‚ 2012). There are guidelines in effect for most organizations; GAAP ensures that the finances of an organization are correct. According to Cleverly‚ Song‚ and Cleverly (2011)‚ GAAP describes the “body
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Accrual Accounting: Income is recorded as you invoice customers‚ and expenses are recorded when you receive bills from vendors‚ regardless of when cash is actually exchanged. This presents a truer picture of income and expenses. Most companies use this method. Cash-Basis Accounting: Income is recorded when cash (checks‚ money orders‚ or currency) is received‚ and expenses are recorded when paid. However‚ unpaid credit sales and purchases do not show on ledgers‚ which can present a misleading
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PRINCIPLES OF ACCOUNTING(POA)/ACCOUNTING FOR MANAGERS(AFM) Basic Accounting Concepts & Terminologies ACCOUNTING- DEFINITION Accounting means the various technical activities performed by accountants‚ including financial accounting‚ bookkeeping and management accounting. Accounting is considered to be as old as money. However in 1494 Lucas Fra Pacoili‚ an Italian Merchant is universally regarded as the father of modern system of accounting or double entry system of accounting. Accounting has
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Questions • How would you describe the entries to record the disposition of accounts receivables? What is their function? • How are bad debts accounted for under the direct write-off method? What are the disadvantages of this method? • Pendergrass Company hires an accounting intern who says that intangible assets should always be amortized over their legal lives. Is the intern correct? Explain. • What are the basic issues related to accounting for intangible assets? • Why
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UNIVERSITY OF LONDON 279 0025 ZA 996 D025 ZA BSc degrees and Diplomas for Graduates in Economics‚ Management‚ Finance and the Social Sciences‚ the Diploma in Economics and Access Route for Students in the External Programme Principles of Accounting Wednesday‚ 5 May 2010 : 10.00am to 1.15pm Candidates should answer FOUR of the following SEVEN questions: QUESTION 1 of Section A‚ QUESTION 2 of Section B‚ ONE question from Section C and ONE further question from either Section B or
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Commercial Accounting and Generally Accepted Accounting Principles Dan Markwell ACC/290 12/18/12 Anita Renee’ Johnson Commercial Accounting and Generally Accepted Accounting Principles Commercial accounting is an accurate account of business transactions‚ it can only be acquired if both cash and credit transactions are performed‚ recorded‚ and recognized in such a way that there can be no duplication and the transactions are recorded under commercial accounting. The system
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Chapter 3 Modified Accrual Accounting: Including the Role of Fund Balances and Budgetary Authority True/False Questions 1. The term‚ Fund Balance‚ is used to indicate the residual net assets of a proprietary fund. Answer: False 2. Net resources of a governmental fund represented by currently due taxes receivable is an example of a nonspendable fund balance Answer: False 3. Net resources of a governmental fund represented by prepaid insurance is an example of a nonspendable fund
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|ADJUSTMENT FOR ACCRUALS AND PREPAYMENTS | |Learning outcome | |Explain the foundations of accruals and prepayments‚ including the nature of the resulting change in the income statement. | |Show the entries for accruals and prepayments in the journal‚ ledger and final accounts.
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