© DQ 2 The three branches of government and are as follows‚ Executive - Main responsibility is that it has veto power over congress and is the commander in chief of the armed forces. Among other functions executive leadership also has the role to appoint federal judges and enforce international treaties. Legislative - A Congress composed of the House of Representatives and the Senate. Has the ability to override with a super majority in the senate. Legislative also has the president veto authority
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Accountants follow professional guidelines for measurement and disclosure of financial information. These are called generally accepted accounting principles (GAAP). In the United States‚ the Financial Accounting Standards Board (FASB) formulates GAAP. The International Accounting Standards Board (IASB) sets global or International Financial Reporting Standards (IFRS)‚ the two basic types of external providers of capital include investors (who exchange cash for stock) and creditors (who loan cash)
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Concepts of Throughput Accounting In 1890s when cost accounting was introduced‚ labour was the greatest fraction of manufactured cost and considered as a variable cost. Very often workers did not know about the actual time of hours that they have to perform in a week when they reported for duty since the systems of time-keeping were undeveloped. Here comes the importance of throughput accounting which removes the dependence of standard cost accounting on efficiencies‚ particularly the
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competitors We operate our business in five segments: Windows & Windows Live Division‚ Server and Tools‚ Online Services Division‚ Microsoft Business Division‚ and Entertainment and Devices Division. Our segments provide management with a comprehensive financial view of our key businesses. The segments enable the alignment of strategies and objectives across the development‚ sales‚ marketing‚ and services organizations‚ and they provide a framework for timely and rational allocation of development
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In contemporary society‚ there are various forms of prejudice and discrimination. The three most common forms of prejudice include racial prejudice‚ gender prejudice‚ and LGBT prejudice. Prejudice is a negative preconceived judgment of individuals or groups formed with insufficient knowledge and inaccurate information. Prejudice is present in many ways‚ and it often includes discriminatory behaviors and stereotypic evaluations derived from social‚ cultural‚ or personal biases. Racial prejudice is
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Table of Contents Accounting Concepts and policies…………………………………………………………….. 3 – 7 Relevance of accounting concepts and policies on financial report…………….. 7 – 10 Discount allowed and received………………………………………………………………… 11 – 13 Difference between carriage inwards and carriage outwards……………………. 11 – 13 Differences between straight line and reducing balance methods……………… 11 – 13 References……………………………………………………………………………………………… 14 - 16 Introduction Accounting Concepts and Principles These are rules and
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Review of Accounting Fundamentals The Accounting Equation Assets = Liabilities + Equity Equity = Contributed Capital + Retained Earnings Retained Earnings = Beginning Retained Earnings + Net Income for the Period – Dividends Net Income = Revenues – Expenses + Gains – Losses Assets ( Probable future economic benefits obtained or controlled by a particular accounting entity as a result of past transactions or events Liabilities ( Probably future sacrifices of economic benefits
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a) Explain Plato’s concept of "Forms" [33] Plato‚ an ancient Greek philosopher living around 400 BCE‚ came to an belief that as well as the visible world‚ there was in fact another‚ separate ’world’ which contained the ’Forms’. Forms are what Plato understood to be the reality that lies behind each concept and object in the visible world. Plato was exploring how the human senses know how to categorise objects‚ animals and concepts‚ however warped they may be from their mundane Form. He believed
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Explain the concept of ‘models’ and discuss the various types of models. Use appropriate examples. A model is a pattern‚ plan‚ representation‚ or description designed to show the structure or workings of an object‚ system‚ or concept. A model can come in many shapes‚ sizes‚ and styles. It is important to emphasize that a model is not the real world but merely a human construct to help us better understand real world systems. In general all models have an information input‚ an information processor
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• Case 1-4 Generally Accepted Accounting Principles At the completion of the Darby Department Store audit‚ the president asks about the meaning of the phrase “in conformity with generally accepted accounting principles‚” which appears in your audit report on the management’s financial statements. He observes that the meaning of the phrase must include more than what he thinks of as “principles.” Required: a. Explain the meaning of the term accounting principles as used in the audit report
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