Contents Theory 2 Introduction 2 Fundamental 2 Background 3 Prepayment 3 Accrual 3 Income Statement 6 Balance Sheet 8 Trend Profit 9 QUOTES THEORY‚ INTRO‚ TABLE OF CONTENTS Introduction The purpose of this report is to identify the items that may result in adjusting entries for both prepayments and accrual by looking at the trial balance and income statement. Furthermore‚ analyzing the historical summary of financial is to know the trend for profit or loss of the company
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said “This ain’t fun but watch me get it done”. I had always been at a small school my entire life until seventh grade‚ when I decided to change schools. I was the new kid‚ and I didn’t know anyone‚ and nobody knew me‚ but I made friends in that two years of middle school. I had never been through a transition like that in my entire life‚ but when I am older I can look back on it and say that I did it. From kindergarten to sixth grade I was at the same school. A very small school. The school only
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MAA103 & MAAP103 - Accounting for Decision Making ASSIGNMENT – TRIMESTER TWO‚ 2011 (Relates to Topic 4) Represents 20% of the assessment for this unit DUE DATE: ASSIGNMENT PLANNER: MONDAY 1 AUGUST‚ BY 5.00pm FINAL ASSIGNMENT: THURSDAY 8 SEPTEMBER‚ BY 5.00pm NOTE the following general submission points: 1. 2. 3. 4. 5. Assignment can be completed in groups of no more than THREE students. Students CAN NOT complete assignment with students from other lecturers classes. Only ONE hardcopy of
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organisational plan and all the related measures that an entity adopts to: * safeguard assets * encourage adherence to company policies * promote operational efficiency * ensure accurate and reliable accounting records. It is either an administrative control or an accounting control Characteristics of an effective internal control system include: * Competent‚ reliable‚ and ethical personnel * Assignment of responsibilities * Proper authorisation * Separation of duties
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CHOLERA AND TYPHOID OUTBREAKS IN KENYA IN THE PAST 40 YEARS Cholera is an infection of the small intestine caused by the bacteria Vibrio cholerae.Its main symptoms are watery diarrhoea and vomiting.Vibrio cholerae are free-living organisms found in fresh and brackish water. Cholera infections are most commonly acquired from drinking water in which the Vibrio cholerae is found naturally or into which it has been introduced from the faeces of a symptomatic or asymptomatically infected person. Another
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How Has American Business Changed In the Last 50 Years? In the last fifty years America has encountered more changes than ever before. The prosperity of our county driven by American consumerism has enabled businesses and individuals to branch out beyond the corporate‚ business as usual‚ models. Consequently‚ individual creativity sparked the entrepreneurial drive that facilitated the technical revolution of the 1970’s and beyond. Sure some could argue that the industrial revolution of the
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HISTORY OF ACCOUNTING LEARNING OUTCOMES Understand the history of accounting dating from prehistoric times to written record keeping. Identify the seven preconditions for the emergence of systematic book keeping. Know Luca Pacioll contributions in introducing double entry book keeping. Accounting is a tool‚ invented by humankind‚ to fulfill needs of society. Unlike the explorers of the past who discovered new lands‚ accounting cannot in any true sense be said to have been discovered
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order to meet the needs of users of financial statements. There are‚ however‚ a number of issues that surround the qualitative characteristics of financial information. The threshold quality of materiality is not easy to define and can be misunderstood. Similarly‚ the concept of prudence is not clear-cut and can conflict with neutrality. In addition‚ relevance and reliability can be conflicting targets and a trade-off needs to be made between the two. Required: Write an essay that draws on the
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concept In this simplified form we can begin to see what the mathematician and Father of Accounting (Luca Pacioli) saw in 1494 when he codified the double-entry bookkeeping system. It is his codified system that outlined the rules for applying debits and credits when recording the financial transactions of a business in the double-entry bookkeeping system. Now remember that Luca’s book in 1494 was written and published in Latin and at a time when the concept of negative numbers was not yet accepted in
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Generally Accepted Accounting Principles (U. S. GAAP) and International Financial Reporting Standards (IFRS) There are numerous companies that use different types of accounting standards or rules. International Financial Reporting Standards (IFRS) and U.S. Generally Accepted Accounting Principles the most popularly used by companies. IFRS is a set of accounting standards that provides a global framework for how public companies prepare and disclose their financial statements. The U.S. Generally
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