U. S. Generally Accepted Accounting Principles (U. S. GAAP) and International Financial Reporting Standards (IFRS) There are numerous companies that use different types of accounting standards or rules. International Financial Reporting Standards (IFRS) and U.S. Generally Accepted Accounting Principles the most popularly used by companies. IFRS is a set of accounting standards that provides a global framework for how public companies prepare and disclose their financial statements. The U.S. Generally
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CHAPTER 5 ATTITUDE AND BEHAVIOUR AT WORK 1.0 Case Study: Discipline at APS Company Aliya and Zuraidah were the only two clerks handling payments from customers in the office of APS Company. They reported to the owner of the business. Aliya had been employed for 18 months while Zuraidah for 14 months. Both were college graduates‚ about 23 years old and single. By manipulating the accounts in a rather ingenious way that would not normally be detected‚ Aliya was stealing from account payments as they
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1.0 MISSION STATEMENT ‘Our mission is to establish Sony Ericsson as the most attractive and innovative global brand in the mobile handset industry.’ Source: http://www.sonyericsson.com/cws/corporate/company/aboutus/mission VISION ‘A sustainable future encompasses conscious design‚ ethics‚ energy‚ recycling‚ health and community involvement.’ Source: http://www.sonyericsson.com/cws/corporate/company/aboutus/mission 1.1 purpose of report: • Proposal of Management Strategy for Sony Ericsson
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YARMOUK UNIVERSITY FACULTY OF ECONOMICS AND ADMINISTRATION SCIENCES DEPARTMENT OF ACCOUNTING COURSE SYLLABUS FALL SEMESTER 2011/2012 COURSE: Title: ACC471— Accounting Information System Instructor:Dr. Iaad Sartawi Class Time: Section (1) – 8:00-9:00 Sunday‚ Tuesday‚ & Thursday. Section (2) – 10:00-11:00 Sunday‚ Tuesday‚ & Thursday. Section (3) – 8:00-9:30 Monday & Wednesday. Class Room: LAB 104A Office Hours: 11:00-12:00 Sunday‚ Tuesday‚ & Thursday. 9:30-10:30
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ACCOUNTING NOTES FOR MY PERSONAL USE 4/12/2013 ELISHA VERIWA | Introduction to Accounting Accountancy is the process of communicating financial information about a business entity to users (stakeholders) such as shareholders and managers (Elliot‚ Barry & Elliot‚ Jamie: Financial accounting and reporting). Accounting has been defined as: * the art of recording‚ classifying‚ and summarizing in a significant manner and in terms of money‚ transactions and events which are‚ in part at least
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The formation of the debit and credit concept In this simplified form we can begin to see what the mathematician and Father of Accounting (Luca Pacioli) saw in 1494 when he codified the double-entry bookkeeping system. It is his codified system that outlined the rules for applying debits and credits when recording the financial transactions of a business in the double-entry bookkeeping system. Now remember that Luca’s book in 1494 was written and published in Latin and at a time when the concept
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CURBING CYBERCRIME IN NIGERIA. Seven years ago‚ back in my secondary school‚ we were invited for an annual debate: internet has done more harm than good‚ argue for or against‚ I wondered how in the world our rivals were going to yank purpose at this theme‚ this one sided coin. It was improbable and we were the only victors I could see. There was hardly any blemish to the internet; it was the best thing you can imagine. Bringing the world to the very doorstep of everyone amidst a host of all
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Classmates‚ According to (Oster‚ 2014)‚ "Percentage of receivables and percentage of sales are two accounting allowance methods used to reconcile customer accounts deemed noncollectable. When allowed by generally accepted accounting principles (GAAP)‚ these two strategies are preferred over direct write-off of bad debt expenses. Percentage of receivables and percentage of sales provide a business with the ability to accurately estimate the expected bad debt losses they will have in each succeeding
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8/2/2012 Objective of Lecture 2 CLASSIFICATION OF ACCOUNTS & ACCOUNTING EQUATION • By end of lecture 2‚ all students should be able to:(a) Understand the five categories of accounts and able to classify them into the respective categories (b) Understand the accounting equation and the relationship between assets‚ liabilities and owner’s equity. Classifications of accounts • • 1. 2. 3. 4. 5. An account is used to record all information regarding an item. The five major
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ACCOUNTING SUBSTANCE OVER FORM Substance over form is an accounting concept where the entity is accounting for items according to their substance and economic reality and not merely their legal form. It is one of the key determinants of reliable information. For most transactions there will be no difference and in some cases however‚ the two diverge and the choice of how to present the transactions can give very different results. This differences occurs when an asset or liability is not recognized
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