A. What is the difference between accrual-basis accounting and cash-basis accounting? The difference between the two types of accounting is when revenues and expenses are recorded. In cash basis accounting revenues are recorded when cash is actually received and expenses are recorded when the expenses are actually paid. B. Why would politicians prefer the cash basis over the accrual basis? The accrual basis system deals with deprecation of the value of equipment‚ land and such. Politicians would
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Classmates‚ According to (Oster‚ 2014)‚ "Percentage of receivables and percentage of sales are two accounting allowance methods used to reconcile customer accounts deemed noncollectable. When allowed by generally accepted accounting principles (GAAP)‚ these two strategies are preferred over direct write-off of bad debt expenses. Percentage of receivables and percentage of sales provide a business with the ability to accurately estimate the expected bad debt losses they will have in each succeeding
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n [pic] American International University-Bangladesh Summer 2007 Principles of Accounting (Section B) For CS‚ CSE‚ COE‚ EEE Students Course Outline |Course Teacher : |Shamarukh Aziz Bhuiyan (Angela) | | | | |Credit:
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YARMOUK UNIVERSITY FACULTY OF ECONOMICS AND ADMINISTRATION SCIENCES DEPARTMENT OF ACCOUNTING COURSE SYLLABUS FALL SEMESTER 2011/2012 COURSE: Title: ACC471— Accounting Information System Instructor:Dr. Iaad Sartawi Class Time: Section (1) – 8:00-9:00 Sunday‚ Tuesday‚ & Thursday. Section (2) – 10:00-11:00 Sunday‚ Tuesday‚ & Thursday. Section (3) – 8:00-9:30 Monday & Wednesday. Class Room: LAB 104A Office Hours: 11:00-12:00 Sunday‚ Tuesday‚ & Thursday. 9:30-10:30
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Topic 1 Accounting and Society Prepared by Graeme Wines. One issue in Topic 1 that can be a little confusing is the distinction between inductive and deductive theories. The example of the topical area of climate change can be used to provide explanations of the distinction which may help your understanding. Inductive theory A descriptive (explanatory/scientific) theory‚ as these terms imply‚ suggest that the theory is attempting to describe or explain a particular phenomenon‚ and that
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Accountants use generally accepted accounting principles (GAAP) to guide them in recording and reporting financial information. GAAP comprises a broad set of principles that have been developed by the accounting profession and the Securities and Exchange Commission (SEC). Two laws‚ the Securities Act of 1933 and the Securities Exchange Act of 1934‚ give the SEC authority to establish reporting and disclosure requirements. However‚ the SEC usually operates in an oversight capacity‚ allowing the FASB
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the report? The Introductory‚ the Financial and the Statistical Sections (table of contents) 2) Review the Introductory Section of the CAFR a) Was the entity’s annual report of the previous year awarded a “certificate of achievement for excellence in financial reporting” by the Government Finance Officers Association? What is the significance of this award? Yes‚ it is significant because it is the highest form of recognition in the area of governmental accounting and financial reporting
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1 The objectives of the Industrial attachment The purpose of industrial attachment is to bridge the gap between the theory and the practise of coursework learnt in the University of Botswana. It is meant to give students a clearer perspective of concepts learnt in the academic environment and in turn prepare them for the work environment upon completion of the degree programme. Internship is also aimed at give students a chance to apply the material learnt into a practical environment and get to
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Financial Accounting Assignment Analysis of Financials of Sun Pharmaceuticals Industries Limited Introduction Sun Pharmaceuticals Industries Limited (Sun) is a leading Indian global pharmaceutical company engaged in developing‚ manufacturing and marketing formulations and APIs. Its business is broadly categorized in four segments – India Branded Generics (41% of revenue)‚ US Formulations (39%)‚ International Generics (11%) and active pharmaceutical ingredients (APIs) (9%). The company offers
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Since I was very young I have always been interested in accounting and finance and how they operate. In China‚ my favourite TV programme is the finance programme and I enjoy international finance. I frequently worked in my mother’s company to help the staff in the accounts department. All of these have given me an understanding of accounting and finance My passion for the subject expanded when I chose accounting as part of my A-level programme. Although this subject is somewhat demanding‚ I find
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