climate and don’t know how to prepare your yard for winter? Are you concerned that you don’t know how to protect your cacti and desert plants during cold weather? If you’re new to the Southwest‚ here are some tips on winterizing your desert landscaping: Schedule a pruning before the first frost: Many people new to Southwest living wrongfully assume that desert plants need little care. In fact‚ ornamental grasses such as Mexican Thread Grass‚ Deer Grass‚ or Pink Muhly Grass need to be
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1. Identify an accounting scandal at a corporation that has resulted in a loss of reputation to the accounting profession. Explain the crime(s) committed. In early 2008 Lehman borrowed large amounts to fund its investing in the years leading to its bankruptcy in 2008‚ “a process known as leveraging or gearing”. A large part of their investments were towards housing market‚ making it vulnerable to a downturn in that market. This firm generated large profits during the housing boom‚ this place them
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Assignment 1: Review of Accounting Ethics 1. Given the corporate ethical breaches in recent times‚ assess whether or not you believe that the current business and regulatory environment is more conducive to ethical behavior. Provide support for your answer. With the historical amount of fraud that has taken place over the last few decades‚ there had to be a stop of some sort to this type of unethical behavior. Through our class lectures‚ discussions‚ and readings‚ I have learned about the
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BarCharts‚ Inc.® WORLD’S #1 QUICK REFERENCE GUIDE ACCOUNTING BASICS CONCEPTS‚ PRINCIPLES & BASIS A. Entity Concept • An organization stands apart from other organizations as a separate economic unit B. Going Concern Concept • Entity will continue to operate long enough to recover cost of its assets C. Time Period Concept • Report information at regular intervals D. Reliability Principle • Accounting records must be based on the most reliable (verifiable by an independent observer)
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The Role of Culture in Learning After reading The Activity and Art of Reading by Mortimer J. Alder and Charles Van Doren‚ the wheels in my mind were left turning and I had to re-read it. This is not because I did not understand what they had written‚ but because I wanted to understand everything perfectly. They did make a lot of valid points; one of them being‚ “There is the book; and here is your mind. As you go through the pages‚ either you understand perfectly everything that author has to say
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Interview I interviewed the head of the customer service department from Korean Agricultural Union CNS‚ the online fruit sales company. I prepared questions and asked them during the time of the interview. I organized the interview in Q&A format. Q: Can you say your name and your job? A: My name is Youngsook Kim and I am the head of the customer service department. Q: What does your company do? A: My company works with agriculturist in Korea to adjust price of fruit and sell at an affordable
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1. Sources of GAAP and basic framework and concepts ........................................................... 3 2. Reporting net income ................................................................................................... 14 3. Income statement: Income from continuing operations ................................................................................ 17 Discontinued operations ...............................................................................
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ACCOUNTING FOR FREQUENT FLIERS INTRODUCTION: Accounting for frequent fliers had become a controversial topic since American Airlines in 1981 introduced them as a loyalty program. Loyalty programs provide members with benefits such as discounts and saving rewards‚ which make these programs popular among consumers (Liebermann‚ 1999). In this specific case‚ we define the Frequent Flier Program (FFP) as “the number of mileage credits and associated liabilities outstanding”. This program as we might see
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Question 1 (a)(i) Historical Cost The historical cost concept can be defined as assets and liabilities that must be recorded at historical cost which is the fair value of the given acquired item at the time of acquisition or the amount of proceeds received in exchange for the obligation at the time of the transaction. Example: 1. One month ago‚ Company ABC purchased 10 units of an item at RM12 per unit. The price today is RM13 per unit. Using the historical cost concept‚ the inventory shall
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Task 1 Accounting record is defined as the all of the documentations involved in the preparation of financial statements and records which are relevant to financial review and audits which include recording of assets and liabilities‚ ledgers‚ journals‚ and any other supporting documents like invoices. Ledger: Maintaining ledger is a must in all accounting system. Ledger is used for preparing trial balance which checks the arithmetical accuracy of the accounting books. Ledger is the store-house
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