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 Internal Controls for e-Commerce
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The basic accounting concepts have defined the conception of the preparation of financial statements and the process of preparation in the UK is well regulated. But financial accounting requires a fair amount of flexibility in some certain areas‚ so the need of judgements and estimations for accounts preparers is demand. Meanwhile it leaves a significant approach in accounting treatments. For example‚ when organizations decide which of several inventory valuation methods to utilize; managers make
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We may notice two opposite views on the working of mixed economy: one represented by the business community or ’big business’ properly speaking and the other by the political leaders in the Government. These views are usually given expression to in the annual conferences of the Chambers of Commerce which are addressed usually by the Prime Minister and other high government spokesmen. There is usually a wordy warfare between the two. The business leaders are frankly critical of the government and
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Financial Accounting Part I Textbook for Class XI © no N C tt E o R be T re pu bl is he Accountancy d ISBN 81-7450-507-5 First Edition February 2006 Phalguna 1927 Reprinted October 2006 Kartika 1928 October 2007 Kartika 1929 January 2009 Magh 1930 January 2010 Magha 1931 January 2011 Magha 1932 PD 90T RPS © National Council of Educational Research and Training‚ 2006 ALL RIGHTS RESERVED No part of this publication may be reproduced‚ stored in a retrieval system or transmitted‚
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(a) Briefly explain what prompted some countries over the world to strongly advocate harmonization of accounting. The important reasons which necessitate harmonization of accounting practices are well contained in the observation made by Saudagaran. “While the initial efforts at harmonization were mainly championed by political bodies and professional accounting organizations‚ current pressures to harmonize are driven by investor groups who use financial statements‚ multinational companies which
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aircraft in the United States and is a major employer in Seattle‚ Washington. Explain why each of the following individuals or organizations would be interested in financial information about the company. a. California Public Employees Retirement System. One of the world’s largest pension funds. They would be interested in Boeing’s financials to see how much the company contributes to their employee’s 401K plans. b. Chinese Airlines‚ a rapidly growing airline serving the Pacific Rim. Seeing
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Flow and Density Measurement Best-in-class technology for outstanding results Emerson Flow and Density Measurement Technology Committed to Your Success Emerson’s best-in-class Micro Motion® and Rosemount® flow and density measurement technologies‚ wide breadth of products‚ and unmatched value ensure you will realize outstanding results in your process and operation. Technology Leadership Decades of application experience ensure Emerson truly understands customer measurement challenges and is
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Order of Magnitude * 100.5 = 3.16 (rounding value) * e.g. 4‚200‚000=4.2*106 * since 4.2 > 3.16 the magnitude is 107 (6 is rounded up) The SI System of Fundamental and Derived Units * Fundamental SI Units: Quantity | SI Unit | SI Symbol | length | meter | m | mass | kilogram | kg | time | second | s | electric current | ampere | A | thermodynamic temperature | Kelvin | K | amount of substance | mole | m | luminous intensity | candela | cd | * Derived
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tangiable items which satisfy human wants and needs.Humans find them important and desirable so they make efforts to acquire them.In modern economies goods are classified into three main categories namely‚1.pure private goods 2.pure public goods 3.mixed(quasi/public) goods and they are outlined in the passage below. Pure private goods These are all the goods produced by private companies whose aim is to make a profit and they are used exclusively for the satisfaction of private needs for example
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Curiosity: What is the effect of temperature of saline on cardiac output? HYPOTHESIS: Cardiac output is higher in a hot saline and low in cold saline temperature parameters. Educated Guess Answer: Phenomenally cardiac output is supposed to rise in hot saline conditions and drastically go down in cold saline conditions. Normalising Data Table 2.1: Cardiac output normalised data of frogs in normal‚ hot and cold saline conditions Normal Hot Cold FROG SV(mV/beat) HR(beat/min) Cardiac output(L/min)
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