Lecture 2: Study Week 2 The Accounting Equation & the Double Entry System Objectives for today 1. Analyzing transactions using the Accounting Equation 2. Next Week: How do firms actually measure Income?: Accrual vs. Cash Accounting g 3. Next Week: Determine when a company should record revenues and Expenses: The Matching Principle The Operating Cycle Start with cash and end with more cash Collect cash from customers Purchase inventory Make sales to customers The Recording
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Directive & Informative Memos Review Worksheet This is a review of directive & informative memos that you learned about in Module 3. Activity 1 1. What are the 5 parts of the header of an informative memo? __________________________________________________________________________ __________________________________________________________________________ __________________________________________________________________________ 2. The ‘Subject:’ line should be _____________________________________________________
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Software. It represents the set of programs that govern the operation of a computer system and make the hardware run. Computer software contrasts with computer hardware‚ which is the physical component of computers. It uses the computer system to perform useful work or provide entertainment functions beyond the basic operation of the computer itself. System Customized. To change (something) in order to fit the needs or requirements of a person‚ business‚ etc. Errors Cash flows. Is the movement
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Axia College Material Appendix E Evaluating Safe Working Conditions Directions: Read each scenario and answer the following questions. 1. Workplace Violence Sam is a security officer for ABC Corporation in the Phoenix area. He is always stationed at the security desk in the main lobby to greet employees and visitors. One day he observed an employee from the finance department muttering something under his breath and acting strangely as he walked by the security desk. He noticed
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A hotel’s front office plays a large in promoting the hotel’s specialties and services. Suggestive selling has the potential to generate a great deal of revenue for the various departments. Some guests may not even be aware that the hotel offers certain services. The front office staff could give restaurant menus‚ salon services pamphlets‚ or room service menus. When checking guest in to the hotel employees could ask “would you like to make an appointment for a facial in our full-service salon‚’
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We chose an advertisement that tries to convince corporations to relocate to Rancho Cucamonga‚ a city located 40 miles east of Los Angeles. The ad tries to inform businesses of Rancho Cucamonga’s well-educated workforce‚ nearby location to major airports‚ and first-class accommodations. The ad is appealing‚ but it can be improved to be more effective. The advertisement has a very good focal point. When first viewing the advertisement‚ you are immediately drawn to the photo of the man standing
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Accounting Cycle ACC/421 Accounting Cycle A typical accounting cycle is made up of eight steps which include the following; (1) identifying and measuring transactions; (2) journalizing; (3) posting; (4) preparing an unadjusted trail balance; (5) making adjusting entries; (6) preparing an adjusted trial balance; (7) preparing financial statements; (8) closing. Identifying and Measuring Transactions Invoices that are received are reviewed and proper coding is implemented. Proper
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Accounting Standards Boards Paper ACC/541 Date Professor Accounting Standards Boards Paper Introduction For the past 31 years‚ the major changes in accounting have taken place. Several accounting committees and boards have come and gone. The purpose of this paper will be to examine the Financial Accounting Standards Board and the International Accounting Standards Board convergence project. These papers will also explain how the MSA program prepares students on the transition into professional
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The accounting equation is‚ Assets are equal to Liabilities plus Stockholders’ Equity. Assets are resources owned by a business. Liabilities are the debts and obligations of the business. Liabilities represent claims of creditors on the assets of a business. Stockholders’ equity represents the claims of owners on the assets of the business. This equity is divided into two parts: common stock and retained earnings. The balance sheet reports assets and claims to assets at one specific point in time
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MEMO: From: Learning Team B Date: October 28‚ 2013 Re: Revenue Cycle Reasoning for this memo is to explain with detail the qualitative features of importance that identifies the deviations seen in the auditing process at Apollo Shoes. During the audit process there were none compliances found in the records of Apollo Shoes Inc.’s revenue process‚ cycle of test ending 12/31/2007 and in the receivable aged trial balance sheet. In the following you will see a step listed that was taken during
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