Week One Content Outline: University of Phoenix Tools and Basic Concepts of Accounting OBJECTIVE: Use the tools available to University of Phoenix graduate students. Resource: University of Phoenix student Web site: https://ecampus.phoenix.edu Content University Library Center for Writing Excellence Student Web site OBJECTIVE: Identify the hierarchy of sources for generally accepted accounting principles. Resource: Ch. 1 of Intermediate Accounting Content Financial accounting
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Recording General Fund Operating Budget and Operating Transactions. The Town of Bedford Falls approved a General Fund operating budget for the fiscal year ending June 30‚ 2011. The budget provides for estimated revenues of $2‚700‚000 as follows: property taxes‚ $1‚900‚000; licenses and permits‚ $350‚000; fines and forfeits‚ $250‚000; and intergovernmental (state grants)‚ $200‚000. The budget approved appropriations of $2‚650‚000 as follows: General Government‚ $500‚000; Public Safety‚ $1‚600‚000;
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Assignment Instructions Unit: 9 Instructions: This week’s assignment consists of watching a scenario about Sandwich Blitz‚ Inc. and answering questions regarding the use of new technology as a means of improving communication between employees and customers. Sandwich Blitz‚ Inc. has a great problem...an increase in the number of customers! Employees have been consistently reporting that they are overwhelmed by the volume of customers and management has noticed that the number of reported
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Week Two Exercise Assignment Revenue and Expenses 1. Recognition of concepts. Jim Armstrong operates a small company that books entertainers for theaters‚ parties‚ conventions‚ and so forth. The company’s fiscal year ends on June 30. Consider the following items and classify each as either (1) prepaid expense‚ (2) unearned revenue‚ (3) accrued expense‚ (4) accrued revenue‚ or (5) none of the foregoing. a. Interest owed on the company’s bank loan‚ to be paid in early July Prepaid expense
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Accounting Equations Paper ACC/300 Nakisha Susberry University of Phoenix Student 4/20/2013 The accounting equation is a formula that represents the relationship between the assets‚ liabilities‚ and owner ’s equity of a small business. Businesses use this to basically show what it owns what it owes and what its investors are investing. In order to understand these concepts it is important to have some knowledge of what is meant by each of the three basic components mentioned. “Assets
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Financial Statements ACC/290 September 14‚ 2012 Financial Statements This written essay will discuss the four basic financial statements used in accounting. It will describe the purpose of the four financial statements. How these statements would be useful to internal users‚ such as managers‚ and employees. How the external users‚ such as investors‚ and creditors would find these statements useful. Four Basic Financial Statements The four basic financial statements used in accounting
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What do you like most about your study? 3. What kind of job do you prefer after graduation? 4. What is your major? 5. What do you do for living? 6. Could you tell me a typical day of yours? 7. How do you get your job? 8. Are you satisfied with your job? 9. What do you like most about your job? 10. What kind of job do you prefer in the future? Hobby or inclination 1. What do you usually do in your spare time? 2. Do you prefer to stay alone or with your friends? 3. What do you usually do on weekends and weekdays
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9 Beatitudes 1. Blessed are the poor in spirit‚ for theirs is the kingdom of heaven. With this phrase‚ "poor in spirit‚" most likely Jesus was speaking of our spiritual condition of poverty‚ the recognition of our need for God. "The kingdom of heaven" refers to people who acknowledge God as their King. 2. Blessed are those who mourn‚ for they shall be comforted. “Those who mourn" speaks of those who express deep sorrow over sin‚ or those who repent from their sins. The freedom found in the forgiveness
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Ch 1. Accounting Information and Decision Making Financial accounting: Measurement and communication‚ measures business activities of a company & communicate to external parties Managerial Accounting: methods accountants use to provide info to managers (acct 210) Who needs to make decisions about companies? Investors Creditors-lend money Customers-big customers (i.e. Apple buys memory chips from Samsung) Suppliers-ability to pay Managers-production/expansion Employees-employment opportunities
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* Jonda Brantley * 11/09/2012 * ACC 220 Wk 2 Financial Statement * * A balance sheet is summary of a company’s financial condition at a specific point in time‚ including assets‚ liabilities and net worth. It allows the company to know what they have been paying for or what they owe out to people. An income statement is a report that tracks a company’s revenues‚ gross profits‚ operating income‚ and net worth. All businesses need to have revenue in order to establish a good foundation
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