ACCOUNTING NOTES FOR MY PERSONAL USE 4/12/2013 ELISHA VERIWA | Introduction to Accounting Accountancy is the process of communicating financial information about a business entity to users (stakeholders) such as shareholders and managers (Elliot‚ Barry & Elliot‚ Jamie: Financial accounting and reporting). Accounting has been defined as: * 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
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1. Define the problem(s) Enron failed to record some of its transactions. Arthur Andersen did not allow the LJM financial statement to stay unconsolidated. 2. Analyze the situation - again‚ take a "lessons learned" approach. You might use the following questions as guides: A. What important internal controls were ignored when LJM1 was created? LJM1 ignored some of Enron’s entries in the books that were missing. Outsiders owned less than 3% of the Special Purpose Entities equities. There was
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Nothing lasts forever. Government‚ societies‚ and empires are no exception. Government corrupts‚ societies collapse‚ and empires fall. The disintegration and eventual failure of an empire is often the result of bad decisions and fatal mistakes. Even the smallest of mistakes can send an empire into a sudden and uncontrollable decent. Making the society and its people accessible to foreign attacks. The Roman Empire began its deterioration shortly after Diocletian split Rome into two halves‚ the East
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Theory Accounting Case 8.1 Simon Romario (023121023) Purwanto Gozali (02312132) Endah Puspitasari (023121065) 1. The article states that the US standard setter FASB requires companies to record a provision in relation to environmental cost of retiring assets (to reserve environmental liabilities) if its fair value could be reasonably estimated. How do you think companies would go about estimating such a provision? Estimation (or estimating) is the process of finding an estimate
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12 ANGRY MEN‚ A STUDY 12 ANGRY MEN A STUDY 12 Angry men a beautifully directed and produced movie‚ there are no 3D special effects or Pixar bunnies hopping out under beds with machine guns blasting. Yet the movie itself can entrance the viewer with nothing but the use of black coloring and personal feelings of justice over vengeance. This movie is so powerful and gripping that it as it takes the viewer on its journey that only question left is the very one at
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Today marks the three year anniversary of the collapse of Rana Plaza. Before the structurally flawed factory crumbled‚ Rana Plaza produced fashions for companies such as Joe Fresh‚ Primark‚ Walmart and the Gap. Over 1‚130 people died when the building caved and 2‚500 more were pulled from the rubble alive but injured and mentally scarred. Rana Plaza is just one example of how workers in the garment industry are being exploited. We don’t think about where the clothes we buy come from; we ignore the
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Lead By Example SSG Alfred J. Stringer NCOA Abstract This paper makes the argument that the examples set by leaders will directly affect the actions and overall effectiveness of their organizations. Morality and upholding the Army Values and the basic principles of the United States of America are paramount principles of character that leaders should possess. Subordinates will many times copy and mirror their leaders so it is critically important for superiors to set good examples. Soldiers
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Imagine Being a poor kid whose father and mother died in the year 1377 A.D. Imagine being accused of stealing from the person who owns the village you live in. Imagine being chased out of town by guards into the wilderness. That’s exactly what happened to a 13-year-old boy named Crispin. Earning only a penny a day‚ barely getting by Crispin and his mom survived until his mom died and that’s when he had to pay the death tax. Unable to pay the death tax he ran into the forest. He got caught listening
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Question 1 Discuss the accounting principles and concepts that were violated in the case. Explain the appropriate accounting treatments that should be used. Accounting is a systematic recording of business transactions and statements relating to assets‚ liabilities and summarizes the financial events that occur in a business. There are certain accounting principles and concepts to preparing reports on financial statements. These accounting principles and concepts are usually referred to as
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Lead (Pb) is a heavy metal which is distributed in the environment. Humans may get exposed to lead due to food‚ water contamination and air pollution caused by industrial emission [4]. As a neurotoxic agent‚ lead has been known to cause damage in the nervous system. The developing central nervous system (CNS) is far more vulnerable to lead’s toxic effects than the mature brain [40]. Learning and memory impairments in experimental animals exposed to lead during embryonic and gestational stages have
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