CHAPTER 1 Scope and Meaning of Accounting Introduction Need and Role of Accounting Meaning of Book -keeping and Accountancy Book-keeping Accounting — Science or Art Definition and Explanation of Accounting Users of Accounting Scope/Branches of Accounting z Financial Accounting z Cost Accounting z Management Accounting Systems of Accounting Objectives/Advantages of Accounting Limitations Terminology often used — Some Basic TTerms erms Check Y our
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1. Conversion cost is the sum of direct labor cost and direct materials cost. F 2. Depreciation on office equipment would be included in product costs. F 3. When the predetermined overhead rate is based on direct labor-hours‚ the amount of overhead applied to a job is proportional to the estimated amount of direct labor-hours for the job. F 4. Indirect materials are charged to specific jobs. F 5. When a job is completed‚ the goods are transferred from the production department to the finished goods
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Chapter 3 Product Costing and Cost Accumulation © 2010 McGraw-Hill Ryerson Ltd. 1 Learning Objectives 1. Discuss the role of product and service costing in manufacturing and nonmanufacturing firms. 2. Diagram and explain the flow of costs through the manufacturing accounts used in product costing. 3. Distinguish between job-order costing and process costing. © 2010 McGraw-Hill Ryerson Ltd. 2 Learning Objectives (con’d) 4. Compute a predetermined overhead rate‚ and
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Auditing Chapter 2 and 3 Chapter MC 2 2.26 - 2.29 Q 65‚ 70(I) 2.26) Which of the following categories of principles is most closely related to gathering audit evidence? A. Performance 2.27) Which of the following is not related to ethical requirements of auditors? D. professional judgment 2.28) One of an accounting firm’s basic objectives is to provide professional services that conform to professional standards. Reasonable assurance of the achieving this objective can be obtained by the
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portfolio question Christian Arzaga 03/27/2012 1. Portfolio Question #1 (Chapter 1) a. What does “success” mean to you? Success to me is the feeling that come from going through struggles and still achieving your goals. It may be something as small as losing 5 pounds or as great as graduating from school. b. When you achieve your greatest success…what will you have and what will you be doing? When I achieve success I will be have my associates
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Chapter 01 1. The business entity assumption requires that a business be accounted for separately from other business entities‚ including its owner or owners. 2. The four basic financial statements include the balance sheet‚ income statement‚ statement of retained earnings and statement of cash flows. 3. A balance sheet covers a period of time‚ such as a month or year. 4. The income statement shows the financial position of a business on a specific date.
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Chapter 1 Accounting Information Systems and the Accountant INTRODUCTION WHAT ARE ACCOUNTING INFORMATION SYSTEMS? Accounting Information Systems—A Definition Accounting Information Systems and Their Role in Organizations CASE ANALYSES The Annual Report Universal Concrete Products Ross‚ Sells‚ and Young‚ LLP REFERENCES AND RECOMMENDED READINGS ANSWERS TO TEST YOURSELF WHAT’S NEW IN ACCOUNTING INFORMATION SYSTEMS? Suspicious Activity Reporting Countering Terrorism Corporate Scandals and Accounting
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AP Biology Reading Guide Chapter 10: Photosynthesis Fred and Theresa Holtzclaw Copyright © 2010 Pearson Education‚ Inc. - 1 - Name_______________________Period___________ Chapter 10: Photosynthesis This chapter is as challenging as the one you just finished on cellular respiration. However‚ conceptually it will be a little easier because the concepts learned in Chapter 9—namely‚ chemiosmosis and an electron transport system—will play a central role in photosynthesis. 1
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Research Design chapter 3 Introduction: The research on the customer satisfaction of Camelot (the Guardians) has a exploratory and descriptive research strategy (quantative) (Saunders‚ Lewis‚ & Thornhill‚ 2007) . As the name already indicates‚ exploratory and descriptive research is the type of research focuses that is more counting and classifying to explain what is observed. We will start with the research questions and explain for every question how date was gathered‚ the source from which
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in the text‚ are used primarily as a part of the managerial compensation program‚ where management’s historical performance is evaluated. d. The capital intensity ratio gives us an idea of the physical condition of the firm’s fixed assets. e. The AFN equation produces more accurate forecasts than the forecasted financial statement method‚ especially if fixed assets are lumpy‚ economies of scale exist‚ or if excess capacity exists. ANSWER: B 2. Which of the following statements is CORRECT
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