CONTROL ACCOUNTS AND ITS USES INTRODUCTION: As the business grows in size‚ more than one ledger is required for recording its transactions which have also expanded with the business. Since the bulk of the entries are made in the accounts of debtors and creditors‚ these two classes of accounts are taken out of the General Ledger and put in separate ledgers - the Sales Ledger for debtors’ accounts and the Purchases Ledger for creditors’ accounts. There may be more than three ledgers but for simplicity
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Normal Distribution It is important because of Central Limit Theorem (CTL)‚ the CTL said that Sum up a lot of i.i.d random variables the shape of the distribution will looks like Normal. Normal P.D.F Now we want to find c This integral has been proved that it cannot have close form solution. However‚ someone gives an idea that looks stupid but actually very brilliant by multiply two of them. reminds the function of circle which we can replace them to polar coordinate Thus Mean
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Question 1- Analyze the following transaction under traditional approach. 18.1.2011 Received a cheque from a customer‚ Sanjay at 5 p.m. Rs.20‚000 19.1.2011 Paid Ramu by cheque Rs.1‚50‚000 20.1.2011 Paid salary Rs. 30‚000 20.1.2011 Paid rent by cheque Rs. 8‚000 21.1.2011 Goods withdrawn for personal use Rs. 5‚000 25.1.2011 Paid an advance to suppliers of goods Rs. 1‚00‚000 26.1.2011 Received an advance from customers Rs. 3‚00‚000 31.1.2011 Paid interest on loan Rs. 5‚000 31.1.2011 Paid
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BALANCE OF PAYMENTS Contents 1 Composition of the balance of payments sheet 1.1 Variations in the use of term "balance of payments" 1.2 The IMF definition 2 Imbalances 2.1 Causes of BOP imbalances 2.2 Reserve asset 2.3 Balance of payments crisis 3 Balancing mechanisms 3.1 Rebalancing by changing the exchange rate 3.2 Rebalancing by adjusting internal prices and demand 3.3 Rules based rebalancing mechanisms 4 History of balance of payments issues 4.1 Pre-1820: mercantilism 4.2 1820–1914:
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RISKS IN BANKING: CREDIT RISK MANAGEMENT Industry Best Practices BANGLADESH BANK CREDIT RISK MANAGEMENT Industry Best Practices PREPARED FOR: BANGLADESH BANK PREPARED BY: FOCUS GROUP ON CREDIT & RISK MANAGEMENT Team Co-ordinator: Team Members: Sudhir Chandra Das Ali Reza Iftekhar Niaz Habib A.G. Sarwar Brian J. McGuire Naser Ezaz Bijoy Page 2 INTRODUCTION: Risk is inherent in all aspects of a commercial operation‚ however for Banks and financial institutions‚ credit risk is an essential
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random will be between 19 and 31 is about 0.95. This area (probability) is shown fir the X values and for the z values. σ = 3 0.95 σ = 1 0.95 X 19 25 31 -2 0 +2 Normal curve showing Standard normal curve showing area between 19 and 31 area between -2 and +2 Entry to a certain University is determined by a national test. The scores on this test are normally distributed with a mean of 500 and a standard deviation of 100
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Question 1 The following table gives the classification of the amount paid and the method of payment at a department store. Cash Credit Debit Total < $20 10 8 6 24 $20 - $100 15 25 10 50 Over $100 5 15 6 26 Total 30 48 22 100 a) Find the probability that the amount paid is < $20 Answer: P(<$20) = b) Find the probability that the method of payment is credit Answer: P(Credit) = c) Find the probability that the amount is <$20 and the method of payment
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one period of time. | | | |b. estimates should not be made if a transaction affects more than| | | |one time period. | | | |c. adjustments to the enterprise ’s accounts can only be made in | | | |the time period when the business terminates its operations. | | | |d. the economic life of a business can be divided into artificial | | | |time periods.
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CREDIT MANAGEMENT & COLLECTION OF RECEIVABLES DR. RICHARD MAYUNGBE LAGOS‚ NIGERIA 26TH – 27TH OF JULY‚ 2010 INTRODUCTION Nearly every writer on the subject has worked out his own definition of credit. The following writers are examples: John Stuart in his Political Economy defines credit as the permission to use another’s capital. Joseph French Johnson in Money and Currency calls credit the power to obtain goods and services by giving a promise
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While each potential borrower’s business is unique‚ reasons to borrow generally include the purchase of assets including new fixed assets or entire businesses‚ repayment of obligations‚ raising of temporary or permanent capital‚ and the meeting of unexpected needs. Loan repayment generally comes from one of four sources: operations‚ turnover or liquidation of assets‚ refinancing‚ or capital infusion. This note describes traditional bank lending products‚ the role of the lending officer‚ credit evaluation
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