Managerial accounting. Before the differences between the two types of accounting can be examine‚ it should be known exactly what financial and managerial accounting are. By definition financial accounting is: Financial accountancy (or financial accounting) is the branch of accountancy concerned with the preparation of financial statements for external decision makers‚ such as stockholders‚ suppliers‚ banks and government agencies. The fundamental need for financial accounting is to reduce principal-agent
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Accounting is the art of recording‚ classifying and summarizing in a significant manner and in terms of money‚ transactions‚ and events which are‚ in part at least‚ of a financial character‚ an interpreting the results thereof. Recording popularly called journalization Classifying involves sorting or grouping of similar and interrelated transactions and events into their respective classes Summarizing refers to preparation of financial statements or reports (balance sheet‚ statement of retained
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Accountancy Capstone Stephen Chen‚ Queensland University of Technology Subject aims and objectives This subject simulates the ‘real world’ work of a professional advisor or consultant‚ requiring students to solve unstructured‚ multi-disciplined accounting problems. Using a Problem-Based Learning (‘PBL’) methodology‚ students work in teams to solve problems by researching issues‚ gathering information and applying it to form conclusions. Problems are based on real problems from the subject convenor’s
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Subject: Financial Accounting-I Course Code: BBA-104 Lesson: 1 Author: Dr. Chandra Shekhar Vetter: INTRODUCTION TO ACCOUNTING STRUCTURE 1.0 Objectives 1.1 Introduction 1.2 Development of accounting discipline 1.3 An accountant s job profile: functions of accounting 1.4 Utility of accounting 1.5 Types of accounting 1.5.1 Financial accounting 1.5.2 Management accounting 1.5.3 Cost accounting 1.5.4 Distinction between financial and management
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3 GOLDEN RULES OF ACCOUNTANCY (1) Debit What comes in & credit what goes out [Real Account] Real Accounts – All tangible assets like cash‚ car‚ furniture and intangible assets like goodwill‚ patents (2) Debit the Receiver & Credit the giver [Personal Account] Personal Accounts – Jose‚ cyndie or any other person or any company’s account in business (3) Debit all the Expenses and losses & Credit all the Incomes and gains. [Nominal Account] Nominal Accounts – All Income
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ACC 340 Final Exam Guide To purchase this material click below link www.assignmentcloud.com/ACC-340/ACC-340-Final-Exam-Guide 1. The process by which a financial transaction is recorded so that its flow through the system can be followed is called: a) Financial shadowing b) Managerial trace technique c) Concatenation d) Audit trail 2. Justifying expenditures for new technologies is especially difficult because: a) You do not know how many jobs will be affected b) Expenses are often recurring and
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Exercise 1.2‚ page 33 a. California Public Employees Retirement System would be interested in Boeing’s financial information to make predictions of the future. By examining historical data and the current information they can decide if and how much to invest. b. China Airlines‚ a potential customer would be interested in the financial information to determine the quality of the products and services and to determine if they could meet warranty obligations. c. Henry James‚ a real estate investor
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Financial Accounting Course Objectives: This course introduces the fundamentals of financial accounting to graduate students. Throughout the course‚ communication skills will be emphasized. After completing the course‚ a student is expected to understand how accounting information is produced‚ interpret and analyze financial statements‚ communicate firms’ financial health and appreciate ethical issues in accounting. Since the course content will be approached from the perspective of a user‚ rather
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The College of Accountancy is one of Polytechnic University of the Philippines foremost college. It boasts of having produced topnotch in CPA Licensure Examination and accounting graduates who are holding prestigious and prominent positions in various companies‚ privates and government‚ all over the country and government‚ all over the country and even overseas. College of accountancy and Law has the highest enrollment among the colleges‚ institutes and schools of PUP. Besides‚ it is as old as the
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CAREER GUIDANCE: ACCOUNTANCY By: CARLITO G. GABRIEL‚ JR.‚ CPA [Seven years ago‚ I was then a part of a career guidance like this. During that time I was not yet sure of what course to pursue in college. The career guidance was a great help in my decision to pursue BS – Accountancy. Maybe‚ most of you are not decided yet. Believe me this career guidance will help you. Let us thank Sir Edgar for this great opportunity. [Before we proceed‚ how many of you are planning to pursue accountancy?] Mention the
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