Closing case 7.2 1. Discuss McAfee’s handling of the update disaster. Should McAfee have done anything differently? If so‚ what? Support you answer. a. I think McAfee handled the situation very well but more could have been done to resolve the problem. It was a smart move for her to add postings about the updated disaster on the web and under the frequently asked questions section. Two days is a quick recovery time and big businesses were able to get back on track quickly. As for the
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Closing Introduction The closing argument is the last piece of a mock trial‚ essentially the last time you get to sell your case to the jury. During the closing argument‚ you are summarizing and putting together everything the jury has already heard during the trial. You are basically clarifying everything presented in the trial from showing the relevance of a particular witness to showing how everything you’ve presented comes together to prove your case. It is one of the most important
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e EDouble entry - Income statement 1. Sales When sales are made‚ capital increases by the amount of profit made on the sale. 2. Expenses When ongoing costs‚ such as wages or rent are incurred‚ capital decreases. 3. Income and expense accounts Periodically‚ usually once a year‚ the figure of profit (income - minus expenses) is added to capital. During the year figures are accumulated in separate accounts for each item of income and expenditure. 4. Cost of sales At the end of the year‚ the
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Defence Closing Statement Members of the Jury‚ you have now heard all of the evidence in this case which I would like to take this opportunity to remind you of. My client ‚ Mr Chris Howells‚ is accused of ASSAULT OCCASIONING ACTUAL BODILY HARM contrary to section 47 of the Offences Against the Person Act 1861. The first witness you heard from today was one of two doorpersons at the Xplode night club‚ Billie Evans‚ who was present on the night of the 10th February 2012. This witness admitted to
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ISSUES IN ACCOUNTING EDUCATION Vol. 27‚ No. 2 2012 pp. 493–524 American Accounting Association DOI: 10.2308/iace-50124 How Adjusting Entries Affect the Quality of Financial Reporting: The Case of Frosty Co. Jason C. Porter ABSTRACT: Recent accounting scandals have emphasized the need to think beyond debits and credits. Accounting students must understand the effects of transactions on a company’s financial position‚ as well as the pressures and incentives they will someday face to misrepresent
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Anthony Ognibene Close Down Guantanamo Bay When discussing the importance of the Guantanamo Bay criminal detention facility located in Cuba‚ the 39th President of the United States Jimmy Carter stated that‚ “I think what ’s going on in Guantanamo Bay and other places is a disgrace to the U.S.A. I wouldn ’t say it ’s the cause of terrorism‚ but it has given impetus and excuses to potential terrorists to lash out at our country and justify their despicable acts.” President Obama has vowed at the
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“‘Can’t repeat the past?’ [Gatsby] cried incredulously. ‘Why of course you can!’“ In so much as two lines the novel was born with one of its main themes – the vast obsession with the past and the failure to accept that it is‚ contrary to what Gatsby says‚ impossible to recreate. As the novel concludes‚ Nick reflects‚ “So we beat on‚ boats against the current‚ borne back ceaselessly into the past.” In some instances‚ “beating against the current” is considered a positive quality; an optimistic life-force
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Practice 2-1 (Solution) Complete the matrix by entering either debit or credit in each cell: Items | Increases | Decreases | Assets | Debit | Credit | Liabilities | Credit | Debit | Owner’s Equity | Credit | Debit | Revenues | Credit | Debit | Expenses | Debit | Credit | Practice 2-2 (Solution) State whether the following have debit balances or credit balances: a.) Accounts Payable- Credit balance b.) Salary Expense- Debit balance c.) Notes Receivable- Debit balance d.) Mr
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What is Fair Value Accounting? An alternative approach to measurement that seeks to capture changes in asset and liability values over time. The International Accounting Standards Board (IASB) defines fair value as "... an amount at which an asset could be exchanged between knowledgeable and willing parties in an arms length transaction". Under the fair value measurement approach‚ assets and liabilities are re-measured periodically to reflect changes in their value‚ with the resulting change impacting
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Jarman Group B Topic 4: Adjusting Entries What are the 4 different Adjusting Entries?: Adjusting entries are classified as either deferrals or accruals. Each class has two subcategories: Prepaid Expenses‚ Unearned Revenues‚ Accrued Revenues and Accrued Expenses. What accounting assumptions necessitate the use of adjusting entries?: Some events are not recorded daily because it is not efficient to do so. Some costs are not recorded during the accounting period because they expire with the
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