Introduction In this assignment I will review the statement in question 3‚ ‘accounting only has one role which is to satisfy user needs’. I will research into what accounting actually is‚ what its role is‚ who are it users and how it is relevant to its users. I will also use various books‚ articles‚ lecture notes and a wide range of Internet sources to enable me to critically evaluate this statement. Accounting can be defined as the summarising‚ measuring and communication of financial transactions
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“Compare the relative advantages and limitations of financial statements prepared on a cash basis with those prepared on an accrual basis” To compare the advantages and limitations of different financial statements begins with first understanding what financial statements are and what different purposes they can be used for‚ as well as the differentiation between cash and accrual accounting. The cash and accrual methods of accounting are the two principle ways of keeping track of businesses takings
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In the article “An Analysis of Patterns from the Statement of Cash Flows”‚ the writers Benton E. Gup‚ William D. Samson‚ Michael T. Dugan‚ Myung J. Kim‚ and Thawatchai Jittrapanun discuss some of the various aspects of the Statement of Cash Flows. Prior to 1987‚ the Statement of Cash Flows was not a mandatory portion of financial statements (73). On a Statement of Cash Flows‚ there can be three types of cash flows: operating activities‚ financial activities‚ and investing activities; these activities
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assumption permits financial statements to record assets and liabilities based on the cash flows that they will generate as the firm operates. If this assumption were absent‚ all assets and liabilities would have to be evaluated on a liquidation basis. Accrual accounting could not be used‚ as the assumption that expenditures would produce future revenues could no longer be made. 1-1 4.{S}Public companies must provide current investors with detailed financial statements‚ mandated by the FASB and
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I am writing to analyse the company’s current balance sheet and income statement. Particularly‚ I will critique on the company’s results‚ compare it to past years‚ compare it to competitors‚ and make recommendations on how to improve its financial position. Neiman Marcus department stores offer luxurious and high-quality men’s and women’s apparel and accessories. The Neiman Marcus Group operates 35 stores in nearly 20 states. The 2004 net income was an impressive $204 million and revenue was $3
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creates an agreement on how commercial transactions are to be accounted for thereby creating uniform financial reporting. For example‚ the IFRS states that assets are to be recorded at the lower of their historical cost or net realizable value on the statement of financial position as a result all assets are reported in a uniform way. There are many other cases that lead to uniform financial reporting‚ but the main point is the standard rules implemented by the IFRS lead to a uniform way of reporting certain
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ENSC 202 Written Report The Philippine Environmental Impact Statement System (PEISS) Presidential Decree 1586 Submitted to: Dr. Ruben F. Amparado By: Genevie P. Pinton Rosanillo Yagos The Philippine Environmental Impact Statement System (PEISS) [Presidential Decree 1586] I. Introduction The origin of Environmental Impact Assessment (EIA) practice started in 1969 from the issuance of the National Environmental Policy Act (NEPA) by the United States. This policy was the
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Companies summarize their goals and objectives in Mission and Vision statements. Both these things serve different purposes for the company but are often confused with each other. While a mission statement describes what the company wants now‚ the vision statement describes what the company wants to be in the future. Let’s talk about vision statement. What is Vision Statement? A vision statement talks about what the company wants to be. It describes what the "vision" of the company is for its future
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A thesis statement can simply be a sentence that presents the central topic of the paper. Starting with this basic statement results in a straightforward essay that summarizes aspects of the subject matter. A more effective thesis statement reflects a specific viewpoint or opinion about the subject matter; the essay‚ in turn‚ represents the detailed argument that supports this viewpoint. Most teachers prefer this kind of essay; they are interested in your own perspective‚ rather than a summary of
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authors are normally not programmers‚ but JavaScript is a scripting language with a very simple syntax! Almost anyone can put small "snippets" of code into their HTML pages JavaScript can put dynamic text into an HTML page - A JavaScript statement like this: document.write("" + name + "") can write a variable text into an HTML page JavaScript can react to events - A JavaScript can be set to execute when something happens‚ like when a page has finished loading or when a user clicks
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