Accounting Basics: Introduction Accounting is a glorious but misunderstood field. The popular view is that it’s mostly mind-numbing number-crunching; it certainly has some of that‚ but it’s also a rich intellectual pursuit with an abundance of compelling and controversial issues. Accountants are often stereotyped as soulless drones laboring listlessly in the bowels of corporate bureaucracies. But many accountants will tell you that it’s people skills‚ not technical knowledge‚ that are crucial to
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of the consumer. 2. Maintain safe food handling‚ ordering food supplies. The food service manager has to ensure and promote the safe handling of food. The cleanliness of the kitchen and work area is very essential to ensure that consumers do not become ill due to the mishandling of food. Ordering food supplies ensures that the food is available and supplies. 3. Hire‚ Recruit and Train employees. Scheduling of employees Hiring the right people for the job‚ people with
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hearing different languages excites me. Golf is a global sport‚ and I have dreamt about playing on the historic St. Andrews course‚ where so many great golfers have teed up. Having the opportunity to see the world‚ I will have a better understanding of how the world works‚ and I will be better at serving those around
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prompted some countries over the world to strongly advocate harmonization of accounting. The important reasons which necessitate harmonization of accounting practices are well contained in the observation made by Saudagaran. “While the initial efforts at harmonization were mainly championed by political bodies and professional accounting organizations‚ current pressures to harmonize are driven by investor groups who use financial statements‚ multinational companies which prepare financial statements
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established as brave and resilient in the face of many obstacles. Contrasts Peter’s later reflections on his shifting identity Point: Feliks firm sense of identity is contrasted between Peter’s anxiety about his identity Example: peter describes how he realised he unconsciously remembered parts of the polish language as he grew older “Remnants of a language/ I inherited unknowingly” Technique: contrasted‚ enjambment‚ describes Effect: highlights Peter’s lack of involvement in his cultural inheritance
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companies follow GAAP accounting techniques. Apple uses straight line differentiation principle or method account for its tangible property. Intangible assets are amortized for over considerable life time. The company uses the principle of subtracting total liabilities from the total assets. The alternative method which provides the same results involves calculating the capital share in addition to the retained earning followed by subtracting treasury shares. The company accounting policies are similar
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Wal-Mart’s Business Practice Big corporations are known for their revenues and the social impact in our society. Many times‚ the media ignore what is behind the success of these companies. Behind Wal-Mart’s success there are thousands of people who work every day to serve communities by bringing the lowest prices on the market and providing excellent customer service to millions of families. The strong culture of this company is another attribution for the success of this firm. According to the study
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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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Business Code of Ethics A written set of guidelines issued by an organization to its workers and management to help them conduct their actions in accordance with its primary values and ethical standards. Both businesses and trade organizations typically have some sort of code of ethics that its employees or members are supposed to follow. Breaking the code of ethics can result in termination or dismissal from the organization. A code of ethics is important because it clearly lies out the "rules"
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8/2/2012 Objective of Lecture 2 CLASSIFICATION OF ACCOUNTS & ACCOUNTING EQUATION • By end of lecture 2‚ all students should be able to:(a) Understand the five categories of accounts and able to classify them into the respective categories (b) Understand the accounting equation and the relationship between assets‚ liabilities and owner’s equity. Classifications of accounts • • 1. 2. 3. 4. 5. An account is used to record all information regarding an item. The five major
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