The lecture last night discussed accrual accounting concepts such as timing issues‚ and the basics of adjusting entries. The discussion went into more detail on periodicity assumption and how accounting divides the economic life of a business into artificial time periods. These time periods are generally a month‚ a quarter‚ or a year‚ now whether it is a fiscal year or a calendar year that is determined by the company itself. The lecture then reviews the revenue recognition principle which expects
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Comparing Accounting Software Programs to Manual Accounting Manual accounting uses several paper ledgers to record financial transactions. It is very time consuming to record each single transaction onto paper‚ being very cautious not to make an error. There are several ledgers for each part of the accounting system‚ such as accounts payable‚ accounts receivable‚ and revenue accounts. Combining these ledgers into one general ledger‚ provide the balance for each ledger. The general ledger
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References: Warren‚ C.‚ Reeve‚ J.‚ and Duchac‚ J (2007). Accounting. 23rd ed South-Western‚ cengage learning in thousands except share data | January 3‚ 2009 | December 29‚ in thousands except share data | December 29‚ 2007 | December30‚
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Accounting for Managers TOPIC A: AN INTRODUCTION TO ACCOUNTING Investors – Individual and groups provide initial capital. Creditors – Company which loans money to another company (Suppliers/Bank). Managers – Oversee the day-to-day operations. What is accounting? * Process of Recognising‚ measuring‚ recording (also known as transactions)‚ disclosing and attesting to information. *Information – Decision Making (Value Creation)‚ Control (Monitoring). Process of Accounting: Transactions
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Table of Contents Case 1 Introduction Jill’s business is expanding while the up going GST prevent her from gaining more profits. The idea of replacing the labor with the help of new equipment will bring about an unprofitable break-even point. However Jill still insist on borrowing from bank to invest in the equipment regardless of the CVP analysis result‚ which raised some ethical issues. Analysis Question 1 Defining the stakeholders There are 5 major stakeholders arising
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1. Which of the following is true regarding a second round of financing? 2. IPO The first step in creating a new company or adding an online project is to identify a consumer or business need in the marketplace. True ________ is money invested in a business by an individual‚ a group of individuals‚ or a funding company in exchange for equity in the business. Venture Capital The Web hosting option under which the business acquires the hardware‚ software‚ staff‚ and dedicated telecommunications
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1.) Many students are unsuccessful in college because they don’t see how college is going to help them create the life they want to live. Write an essay in which you define both what you want to accomplish in your life and how college is going to be an important steppingstone to that success. On having a look back at my life‚ I realize that it is really difficult to speak about my most important achievements since I believe that even the slightest detail‚ or some event that seems to be insignificant
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Angie Casias 060 11-12-12 Going Back To School Returning back school after 15 years was scary. First of all I decided It was time to return to school‚ I needed to speak to my family and make sure everyone Was on board with my decision. Secondly‚ I went and visited the college near my house. While I was there I decided to talk to different teachers. Which by the way was fun and
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became the major factors in my decision to continue my education. College‚ like the cliché‚ truly was the best years of my life. In truth I wanted to proceed immediately to get my Master of Business Administration degree with an emphasis in accounting‚ but an academic counselor advised me that a stint in the “real world” would be the most advantageous choice. Three years after graduation and I now understand exactly how some professional experience can change your perception when choosing a
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Aims of academic study and ways to achieve it Many people are considered academic study an important part of their education and their goal is to be success in academic. To have an academic success‚ it is crucial to have aims in academic study due to its essential‚ anyhow the aims of academic study help academic performers in various ways. For example academic study helps to discover future goals and increase abilities in the university. It also enhances knowledge in critical-thinking and problem
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