THE HISTORY OF ACCOUNTING By: The Brenna Hillard ANCIENT ACCOUNTING Ancient Egyptian bookkeepers kept meticulous records of the inventory of goods kept in royal storehouses. The accuracy of these records was assured by the swift and severe penalty that came if mistakes were ever discovered. ANCIENT ACCOUNTING (CONTINUED) In Mesopotamia scribes kept records of commerce on clay tablets. In ancient Greece‚ the account books of bankers show that they changed and loaned money and helped people
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Read the case "Tactus Tackles Fund-Raising" at the end of Chapter 8 and answer the questions that follow: 1. Craig Ciesla and Micah Yairi eventually turned to friends and family for funding. Should they have done that first? What are the risks with raising money from such individuals? Many us have heard don’t borrow money from family or go into business with friends. In the case of Tactus fund-raising‚ they faced many financial obstacles in raising their capital. Craig and Micah did the right
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Chapter 8 Activity-Based Costing: A Tool to Aid Decision Making Solutions to Questions 8-1 Activity-based costing differs from traditional costing systems in a number of ways. In activity-based costing‚ nonmanufacturing as well as manufacturing costs may be assigned to products. And‚ some manufacturing costs—including the costs of idle capacity—may be excluded from product costs. An activity-based costing system typically includes a number of activity cost pools‚ each of which has its
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depositors. Begin with accounting principles from Islamic perspective‚ this paper discusses the concept of accrual and cash basis and scholar opinion about this basis of accounting. Both accrual and cash basis implementation with its advantages and disadvantages also discuss in this paper. An alternative method to improve fair and just between bank and customer is proposed. 1. Introduction The growth of Islamic financial market and institution create the need for different accounting requirement. This
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MZUMBE UNIVERSITY FACULTY OF COMMERCE A RESEARCH PROPOSAL ON; EVALUATION OF THE EFFECTIVENESS OF THE COMPUTERISED PAYROLL ACCOUNTING SYSTEM A CASE STUDY AT THE MINISTRY OF HOME AFFAIRS DAR ES SALAAM BY HASSAN MOHAMED HANGAI BACHELOR OF ACCOUNTANCY AND FINANCE (B.A.F) OCTOBER 2010 A RESEACH PROPOSAL TO BE SUBMITTED IN THE PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF A DEGREE ON BUSINESS ACCOUNTANCY AND FINANCE AT MZUMBE UNIVERSITY MOROGORO-TANZANIA 1 TABLE OF CONTENTS 0.0 MEANING
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Investments Analysis and Management Group 5: Dimensional Fund Advisors‚ 2002 DFA Overview Dimensional Fund Advisors (DFA) is an investment firm founded in 1981 by David G. Booth and Rex Sinquefield‚ both graduates of the University of Chicago Graduate School of Business. The firm has three Nobel Laureates sitting on its board: namely Myron Scholes‚ Robert C. Merton‚ and the late Merton Miller. Other directors include leading economists such as Eugene Fama and Kenneth French; they jointly
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used creative accounting to portray that the company’s profit were increasing when it fact it was making losses during the period 2000 – 2002 Creative accounting can be refers to accounting practices that seem to follow the applicable accounting standards but differ from the essence of those standards. It use the accounting methods to hide some elements of company’s financial dealings in order to make the company appears more successful that it is in reality. Creative accounting also can be describe
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Chapter 3: Cost-Volume-Profit Analysis 95 Chapter 3 Cost-Volume-Profit Analysis SOLUTIONS LEARNING OBJECTIVES Chapter 3 addresses the following learning objectives: LO1 LO2 LO3 LO4 LO5 LO6 Explain the concepts of cost-volume-profit (CVP) analysis in decision making Apply CVP calculations for a single product Apply CVP calculations multiple products Describe the assumptions and limitations that mangers consider when using CVP analysis Assess operational risk using margin of
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The purpose of this assignment is to select a step in the accounting cycle that is not currently automated at one of our team members ’ organization. The place of business we have selected is an independent financial brokerage firm‚ LPL Financial. The firm places a strong emphasis on the recruiting of established financial advisors throughout the country. When a financial advisor joins LPL Financial‚ so does their clients. One of our team member ’s works in the transfer department. The transfer
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Emergency Fund Ratio For households with dual-earners‚ like yours‚ we normally recommend you hold in cash or cash equivalents 3-6 months of fixed expenses. These fixed expenses are what would be left if you both lost your job. Certain expenses like: income taxes and contributions to retirement plans would not be included when calculating the size of your emergency fund. You currently hold 15x your expenses in cash and cash equivalents. Since both of you work‚ in addition to earning strip mall income
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