Chapter 1 Accounting Information Systems and the Accountant True-False Questions 1. The acronym AIS stands for “Accounting Information Standards.” 2. Accounting information systems must be computerized to be effective. 3. It is best to view an AIS as an accounting system that must be computerized. 4. AISs often create information that is useful to non-accountants. 5. In order to be useful‚ raw accounting data must be processed by a computer. 6. The path that data follow in an AIS‚ for
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What is my purpose? This question has challenged me since it was introduced to me in class. Watching the videos‚ lecture‚ and discussion in class has me wondering what I should do for the rest of my life. Writing and analyzing my goals‚ personal values‚ talents‚ and strengths have open inquiries into what I want to accomplish in my life and what my purpose should be. My three priority personal values are my family‚ health‚ and financial stability. One of my greatest personal value in my life is
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Fundamentals of Accounting: Managerial verses Financial Accounting Fundamentals of Accounting acct122 Fundamentals of Accounting: Managerial verses Financial Accounting What has the organization in its focus; futuristic planning‚ financial control‚ and data based decision making affecting its reports and suggestions; and an emphasis on relevance and timeliness in its decision making (2012)? The answer to this question is managerial accounting. According to J. W. Jones (2013)‚ a retired
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Analyse the reasons why GBK can achieve higher levels of added value than McDonalds Customers are more concerned with eating healthier; and have also become increasingly more interested in the quality of food they are eating. Although they want to enjoy a burger they also want to know it’s of good quality. Unlike fast food restaurants like McDonalds‚ Gourmet burger Kitchen (GBK) offers this higher quality food. By offering this higher quality food it attracts customers‚ it also allows them to
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Four Accounting Principles Sharon Wallace American Intercontinental University Accounting Principles 2012 Four Accounting Principles ABSTRACT Accounting principles used by Wal-Mart and the core function of its departments. Wal-Mart’s strength and weaknesses will be listed. Wal-Mart’s last two years of accounting statements are also present. FOUR ACCOUNTING PRINCIPLES
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1. What is the most important difference between a corporation and all other organizational forms? 2. What does the phrase limited liability mean in a corporate context? 3. Which organizational forms give their owners limited liability? 4. What are the main advantages and disadvantages of organizing a firm as a corporation? 5. Explain the difference between an S corporation and a C corporation. 6. You are a shareholder in a C corporation. The corporation earns $2 per share before taxes
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Process time + Inspection time + Move time + Queue time = 2.8 days + 0.5 days + 0.7 days + 4.0 days = 8.0 days 2. Only process time is value-added time; therefore the manufacturing cycle efficiency (MCE) is: 3. If the MCE is 35%‚ then 35% of throughput time was spent in value-added activities‚ the other 65% was spent in non-value-added activities. 4. Delivery cycle time = Wait time + Throughput time = 16.0 days + 8.0 days = 24.0 days 5. If all queue time is
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INTRODUCTION A Value Added Service (VAS) can be defined as: Any service provided by the service provider to promote its main service business (Wikipedia) Or Value added services is a term that is used to refer to service options that are complimentary to but also ancillary to a core service offering. (wiseGEEK) As Kotler as said: “Over time the augmented benefits become the expected benefits.” The same applies to Value added services‚ what a customer sees as a value added service today becomes
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scenes in many ways. Firstly‚ in Act 2‚ scene 2 Macbeth hears the guards say “God bless us” to which he cannot respond with “Amen”. this shows that the thought of the evil deed just hit Macbeth‚ he just realised what he had done and felt as if God was no longer close to him due to what he had just done. Shakespeare also uses different types of language and techniques which helps him elaborate the scene in a way that makes the reader feel involved in the play‚ for example Shakespeare builds suspense
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Accounting Alternatives Case At the beginning of the year 20x1‚ two companies began operations to sell home heating units. Eads Heaters Inc. is located in Eads‚ Colorado‚ and Glenwood Heating Inc. is in Glenwood Springs‚ Colorado. The companies operate under similar economic conditions and have identical operations during the year. However‚ each manager makes different accounting choices and estimates when applying generally accepted accounting principles (GAAP) in preparing the company’s financial
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