Introduction Traditionally‚ cash basis of accounting has been used in the public sector; however‚ in recent years extensive debates have emphasised whether a move to accruals basis of accounting would be more feasible. The proponents argue for such a change due to the benefits accruals basis has to offer. There are still heavyweight supporters for cash basis such as IFAC – a body that issued 21 IPSAS based on IMF‚ EU Commission‚ and IFRS / IAS (Jorge Faustino‚ 2008). Moreover‚ there are several organisations
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The objectives of accounting : 1) To keep systematic records: Accounting is done to keep a systematic record of financial transaction. In the absence of transaction there would have been terrific burden on human memory which in most cases would have been impossible to bear. 2) To protect business properties: accounting provides protection to business properties from unjustified and unwarranted use. This is possible on account of accounting supplying the following information to the manager
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Task one‚ P1. The Main Purpose of Accounting Keeping track of transactions and recording revenue and expenses are an important process‚ often assigned to an accounting department or a financial manager. Accounting allows companies to provide reports and insights needed to make sound financial decisions. The main purpose of accounting is to identify and record all activities of the income and the outcome that will affect the organisation financially. All activities‚ including purchases‚ sales
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Two Main Theories of Special Education There are two main theories to special education. One is the cascade of services and the other is the inclusion theory. I will discuss some of the advantages as well as some of the disadvantages of both theories. I will also discuss which theory I believe in and why. Evelyn Deno developed the cascade of services in 1970. It is the outline of the continuum of placement options. There are seven levels to the cascade and they serve as a diagnostic filter. The
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FINANCIAL MANAGEMENT The main objectives of financial management are:- 1. Profit maximization : The main objective of financial management is profit maximization. The finance manager tries to earn maximum profits for the company in the short-term and the long-term. He cannot guarantee profits in the long term because of business uncertainties. However‚ a company can earn maximum profits even in the long-term‚ if:- i. The Finance manager takes proper financial decisions. ii. He uses the finance
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|The body : | Main objectives and reasons for homework The basic objectives of assigning homework to students are the same as schooling in general: To increase the knowledge and improve the abilities and skills of the students. However‚ opponents of homework cite homework as rote‚ or grind work
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enterprise during an accounting period in monetary terms. These business activities vary from one enterprise to other. To compare the financial statements of various reporting enterprises poses some difficulties because of the divergence in the methods and principles adopted by these enterprises in preparing their financial statements. In order to make these methods and principles uniform and comparable to the extent possible – standards are evolved.What are Accounting Standards? Accounting Standards are
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document e. Treasury Circulars - new rules f. Government Accounting Standard (PPK) - standard & basis g. International Public Sector Accounting Standard (IPSAS’s) - standard by IFAC for global 2. Non-financial procedure Financial Provisions of the Federal Constitution (Art 96 to 112) 1. Objectives a. Establish general framework for control of public expenditure b. Provide good financial management systems c. Govern methods of public funds to be administered & accounted d. Define borrowings
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of demand. C. Consumer indifference. D. Consumer surplus. 5. Refer to Table 5.13 to answer this question. With the consumption of what quantity is marginal utility equal to zero. A. 1. B. 5. C. 7. D. 8. 6. You have just spent two hours studying microeconomics and this has made you very hungry. You have $10 to spend on a snack and decide to go to Taco Bell. Putting your newly acquired economics knowledge to use‚ you have developed the following table to assist with your purchase
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There are a variety of programs that are administered by the federal government‚ both on public and private lands. These programs generally serve the purpose for conservation and restoration of wildlife habitats and ecosystems. They can range from the U.S. Forest Service‚ U.S. Fish and Wildlife Service‚ Bureau of Land Management‚ and National Park Service. The Coastal Program‚ administered by the U.S. Fish and Wildlife‚ strives to conserve and restore coast habitats and ecosystems. A coastal ecosystem
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