Lecture 2: Study Week 2 The Accounting Equation & the Double Entry System Objectives for today 1. Analyzing transactions using the Accounting Equation 2. Next Week: How do firms actually measure Income?: Accrual vs. Cash Accounting g 3. Next Week: Determine when a company should record revenues and Expenses: The Matching Principle The Operating Cycle Start with cash and end with more cash Collect cash from customers Purchase inventory Make sales to customers The Recording
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[pic] |Course Syllabus School of Business ACC/290 Version 3 Principles of Account I Course Start Date: : 05/20/2013 Course End Date: 06/24/2013 Group Number: GA12BSB12 | |Copyright © 2011by University of Phoenix. All rights reserved. Facilitator Information hours. I am available to answer questions between class meetings by phone‚ OLS postings or email. Also‚ I will be in class approximately
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Assignment: Critiquing Philosophical Approaches to Ethical Decision Making When it comes to making ethical decisions there are many different approaches to reach a decision. There is an ethical decision making (EDM) framework which incorporates traditional requirements for profitability and legality‚ as well as requirements shown to be philosophically important to stakeholders. The EDM framework asses the ethicality of a decision or action by examining the consequences or well-offness created in
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NAME Week 2‚ Exercise 1 November 16‚ 2014 XACC/290 Week 2‚ Exercise 1 (a) 1. Stockholders invested $20‚000 cash in the business. 2. Purchased equipment for $5‚000‚ paying $1‚000 in cash and the balance of $4‚000 on account. 3. Paid $750 in cash for supplies. 4. Earned $9‚500 in revenue‚ receiving $4‚100 in cash and $5‚400 on A/R. 5. Paid $1‚500 in cash on accounts Payable. 6. Paid $2‚000 in cash dividends to stockholders. 7. Paid $800 in cash as expenses (rent). 8. Earned $450 in cash from
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Classification | Examine a sample of sales transactions to determine if each one is correctly classified in the sales journal. | Substantive Test of Transactions | Completeness‚ Accuracy‚ Timing‚ Posting‚ and summarization | N/A | Substantive Test of Transactions | Occurrence‚ Completeness‚ Accuracy‚ and Timing | N/A | Test of Control | Accuracy | Recalculate cash discounts for the sample of remittances to determine whether each one was consistent with company policies. | Test of Control | Completeness
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From looking at the ratio calculations Luna has a few things they could work on to help their profitability problems. I’ll start with looking at their operating profit margin which is steadily declining while gross profit is consistent indicating a large increase in operating expenses that have grown more than the percentage increase in sales‚ which in turn affects overall profit. Luna’s net profit margin return on assets is suffering consistently as well‚ but this is part of the decline in operating
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uNIVERSITY OF dELAWARE ACCT 207 PRACTICE EXAM III MICHAEL VAN LEER 1. The incorporation of companies in the U.S. is controlled by: A) state governments. B) local governments. C) the Federal government. D) the courts. 2. Stockholders’ equity frequently includes which of the following: A) the present value of future dividends to be paid. B) the total par value of common stock. C) retained earnings. D) B and C‚ but not A. 3. A corporate charter specifies that the company may sell up
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Company Selection I have selected Apple as the company that I will be following financially for the duration of Accounting 561. Not only am I a passionate Apple user‚ I also believe in how the company develops‚ creates‚ and markets their product lines for consumer use. They have created products that are so complex at their core with an extremely simple user experience‚ which has been nothing short of remarkable to watch from the time I was a child through adulthood. I look forward to studying
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2-7 The PCAOB has responsibility for establishing auditing standards for public companies‚ while the Auditing Standards Board (ASB) of the AICPA establishes auditing standards for private companies. The ASB previously had responsibility for establishing auditing standards for both public and private companies. Existing auditing standards were adopted by the PCAOB as interim auditing standards for public company audits. 2-10 For the most part‚ generally accepted auditing standards are general rather
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Unit 205 Introduction to duty of care in health‚ social care or children’s and young people’s settings. 1.1 always act in the best interest of individuals and others not act or fail to act in a way that results in harm act within your competence and not take on anything you do not believe you can safely do. A duty of care is a requirement that a person act toward others and the public with watchfulness‚ attention‚ caution and prudence that a reasonable person
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