HISTORY OF ACCOUNTING Primitive Accounting Traced as far as 8500 BC in Mesopotamia through the use of clay like: a. Record for paid wages b. Record purposes‚ as general Pyramids in Egypt‚ for the costs of structures Other places like China‚ Babylon‚ and Greece Middle Ages More formal account-keeping methods were developed by the merchants and banks. Double-entry records first appeared in Genoa in 1340 AD. First accounting book was written by Contrugli in Naples Summa de Arithmetica
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comprehension NOT: AACSB: Ethical & Legal understanding | Management: Ethical Responsibilities | Dierdorff & Rubin: Managing the task environment 2. The external environment facing business stays relatively constant over time. ANS: F PTS: 1 DIF: Easy REF: 34-35 OBJ: 02-01 TYPE: comprehension NOT: AACSB: Business Knowledge & Analytical Skills | Management: Environmental Influence | Dierdorff & Rubin: Managing the task environment 3. Demographic‚ economic‚ political/legal‚ sociocultural‚ technological
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stockholders‚ bankers‚ creditors‚ potential investors‚ and tax and regulatory agencies that have an interest or stake in the organization. Each of these external users will use financial reports to satisfy their need for information to determine profitability‚ credit worthiness‚ or compliance. Financial reports provide useful information to company’s internal users that allows for evaluation and aids management in making decisions that affect the future of the company. This type of information is
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Chapter 08 Business Income‚ Deductions‚ and Accounting Methods SOLUTION MANUAL Discussion Questions 1. [LO 1] What is an “ordinary and necessary” business expenditure? “Ordinary” and “necessary” imply that an expense must be customary and helpful‚ respectively. Because these terms are subjective‚ the tests are ambiguous. However‚ ordinary is interpreted by the courts as including expenses which may be unusual for a specific taxpayer (but not for that type of business) and necessary is
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Brief Exercise 11.1 Alpha Company Stockholders Equity section of the Balance Sheet Issued and outstanding common stock (10‚000 * 10) 100‚000 Additional paid-in capital (10‚000 * 3) 30‚000 Total paid-in capital 130‚000 Retained Earnings 75‚000 Total Stockholder Equity 205‚000 Brief Exercise 11.2 Beta Company Stockholders Equity section of the Balance Sheet Issued and outstanding common stock (10‚000 * 25) 250‚000 Issued and outstanding preferred stock (10‚000 * 100) 100
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Leadership‚ Teambuilding‚ and Communication 3 The CEO of my company is very caring and kind hearted. He is an exceptional leader‚ he is what would describe as a formal leader. trying to fill is for an Executive Director‚ who reports to Board of Directors‚ and reporting to this position are Program Director and Business Managers. Job Summary The Executive Director will serve as Chief Executive Officer for Lynda’s Babies Inc. and in partnership with the Board; is responsible for the
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A business report: Cargill Inc. April 2014 Outline Executive Summary 3 Introduction 4 Cargill ’s supply chain approach 5 Cargill ’s targeted markets: the Western and Asian perspective 6 Cargill ’s market entry customs and channel strategies 7 Cargill as an American company and and supply chain provenance 9 References 12 Executive Summary The following business report considers Cargill‚
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ACCOUNTING CLERK Wes Ruiz Ms. Cline Accounting 20 October 2011 In this paper I will be telling you about a job of an accounting clerk. The scope of an accounting clerk’s job duties often depends upon the size of the company or organization that he works for. For example‚ small businesses tend to hire “general bookkeepers” to handle all of the financial transactions and record keeping requirements of the business. Essentially‚ a bookkeeper
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accounting standards accounting standards Introduction to Accounting Standards Accounting is the art of recording transactions in the best manner possible. Accounting Standards are the policy documents issued by recognized expert accountancy bodies relating to various aspects of measurement‚ treatment and disclosure of accounting transactions and events. Every country has its own standards. Accounting Standards in India are issued by the Institute of Chartered Accountants of India (ICAI)
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FORMAL LETTER INTRODUCTION Dear Lindsay and Michael‚ I am writing you this letter to give you some friendly advice about interpersonal communication within your relationship with each other. I hope that these helpful tips help you both to make your communication thrive in your newly found engagement. There are many things that I would like to touch base on with you both; as I wish someone would have informed my fiancé and me when we decided to spend our lives together as well. An
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