Introduction to Accounting Accounting is a profession used to make financial and business decisions. Billions of dollars exchange hands every day‚ in millions of separate business transactions. These are recorded and reported on using a comprehensive set of guidelines‚ referred to as Generally Accepted Accounting Principles (GAAP). Brief History of Accounting Accounting was born before writing or numbers existed‚ some 10‚000 years ago‚ in the area known as Mesopotamia‚ later Persia‚ and today the
Free Accountancy Accountant Leonardo da Vinci
Chapter 5 Accounting for Merchandising Operations Chapter Summary Merchandising Operations • A merchandising company is an enterprise that buys and sells goods to earn a profit. • Measuring net income for a merchandising company is the same as for a service company through matching of expenses with revenues. • In a merchandising company‚ the primary source of revenue is the sale of merchandise‚ which is called sales revenue or sales. • Expenses for merchandising
Premium Generally Accepted Accounting Principles Revenue Accounts receivable
Master of Business Administration- MBA Semester 1 MB0041 – Financial and Management Accounting Q1. Accounting is one of the oldest‚ structured management information system. Give the meaning of accounting and book keeping? Explain the objectives of accounting? ANS. Meaning of Accounting- The systematic and comprehensive recording of financial transactions pertaining to a business. Accounting also refers to the process of summarizing‚ analyzing and reporting these transactions. The financial statements
Premium Balance sheet Generally Accepted Accounting Principles Income statement
Chapter 4 : Account Titles and Preparation of Financial Statements | Article 14 : The balance sheet items shallbe categorized as follows: 1. Assets. (1) Current assets. (2) Funds and long-term investments. (3) Property‚ plant and equipment. (4) Depletable assets. (5) Intangible assets.
Premium Balance sheet Generally Accepted Accounting Principles Asset
Worksheet for Summaries of Chapter I 1) What are the themes of the chapter? How do the themes relate to management? Explain in a few sentences. The theme of the chapter is the role of management. The author says that there is only one way to take advantages of the resources we have this through management. Management allows a better use of the resources therefore it helps to increase the level of productivity of a company or of a country. 2) Choose the three most important or interesting
Premium United States Economic development Economic system
CHAPTER 1 u MENT JEeT MANAGEMENT LEARNING After reading this chapter‚ you will b • Understand the importance of proj increasing use of outsourcing for inf Describe the work involved in plannin determining the proper type of contract t management plan‚ statement of work‚ so buy analysis Discuss what is involved in conducting obtaining seller responses‚ selecti Understand the process of admin ment relationships and monito Describe the process of closin Discuss types of software availa management
Premium Procurement Project management
Case Analysis Questions Patten Corporation I find this a very rich case that makes for a great introduction to my course. To get the most out of it‚ you need to spend some time thinking about what the company does. Read the case carefully. 1. What does Patten Corporation do? What does it buy? What goods or services does it sell? How does Patten make money? 2. Is Patten profitable or unprofitable? If it is profitable‚ what does the company do that makes it profitable? If profitable
Premium Cost accounting Costs
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
Premium Balance sheet Generally Accepted Accounting Principles
Department of Accounting Detailed Syllabus of Third Year Four-Year B.B.A. (Honours) Course Effective from the Session: 2009–2010 National University Syllabus for 4 years BBA Honours Course Subject : Accounting Third Year (Honours) Third Year: 32 Credit Hours Course Code COURSE TITLE Marks Credit Hours Audit and Assurance 100 4 Advanced Accounting-I 100 4 Cost Accounting 100 4 Management Accounting (in English)
Premium Management accounting Cost Costs
Chapter 16 Networking Types‚ Devices‚ and Cabling Reviewing the Basics 1. What type of network topology is used when five switches are used on a small LAN and each switch connects to multiple computers on the LAN? A star bus topology or a hybrid topology 2. Place the following networking technologies in the order of their highest speed‚ from slowest to fastest: WiMAX‚ dial-up networking‚ cable Internet‚ Fast Ethernet‚ 3G Dial-up networking‚ 3G‚ cable Internet‚ WiMAX‚ Fast Ethernet 3. What
Premium Ethernet