Nature of Accounting and the Accounting Standard Background Accounting is an important part for business and it is dubbed “language” of business activities conducted by firms. People think it is used to communicate business transactions per se to all stakeholders. However‚ some people argue that the functions of accounting are not that easy. Except the communication tool‚ accounting acts as many other difference roles in business. When doing accounting‚ different standard may be used. There are
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SHANGRI-LA You are partner in charge of the audit of Shangri‑La‚ Inc. The company is a real estate developer‚ specializing in luxury vacation areas. The company’s operations have been profitable‚ although not spectacular. Most of the development property is pledged as collateral for bank loans; there is a reasonable stockholders’ equity of about $10‚000‚000. Shangri‑La has a substantial
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is provided for general guidance only and on the understanding that it does not represent‚ and is not intended to be‚ advice. Whilst care has been taken in its preparation‚ it should not be used as a substitute for consultation with professional accounting‚ tax‚ legal or other advisors. Before making any decision or taking any action‚ you should consult with an appropriate specialist or professional. No warranty is given to the correctness of the information contained in this document‚ or its suitability
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My career path Deciding upon a career could be one of the most essential and difficult decisions we need to take in our life. But for me‚ I think I already made up my mind to become a Finance Manager work under filed of finance. Job in Financial service The filed I had chosen is financial service as I had always interested in money and I always wanted to be a finance manager as it is a high profile‚ multi-functional position and needs to participate in every parts of the company‚ such as marketing
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gooda available for sale. -the consistency principle states that the busineses should use the same accounting methods from period to period. -under the FIFO‚ the ending inventory is based on the cost of the most recent purchases. -the value of purchases remains the same irrespective of the inventory valuation method used. -using FIFO‚ the COGS is based on the oldest purchases. -the accounting conservatism principle requires that financial statements should report LEAST favorable figures. -do
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Background of the study Career is a job or occupation regarded as a long-term or lifelong activity‚ the general path or progress taken by somebody where he is trained in a particular occupation for his entire working life while preference is the selection of something rather than other choices‚ it’s the power to choose on what you desire or what is desirable in your part. Socio means society‚ human society is a best example to understand its meaning because you can understand easily what you observed
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Practice SAC Essay- Why does Steinbeck want us to know about companionship and aspirations through hard times? Why does he want us to see the importance of it? Steinbeck shows us three important themes - Dreams‚ Friendship and Hardship. Friendship‚ or companionship and being a friend to somebody is very important during times of hardship‚ or difficulty and also the presence of dreams and things that inspire the characters to get through the difficult times. The novella Of Mice and Men‚ written by
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for a Successful Career in Accounting Prepared for Prepared by May 22‚ 2013 To: From Date: May 22‚ 2013 Re: Completed Analytical Report of the Accounting Profession Here is the report you requested on April 3rd‚ 2013‚ researching the essential skills‚ behaviors‚ and effective strategies to have a successful career in accounting. Data gathered from online databases support the conclusion that in order to be successful in the accounting field one must have
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Accounting: Topic 6: Analysis And Interpretation Of Financial Statements (Part 2) Capital Structure Analysis Proportion of debt financing relative to equity financing (=gearing or leverage) * Reflects the entity’s financing decisions * Investments in assets are funded externally by liabilities‚ or internally by owner’s as shown in accounting equation (A=L+OE) Debt to equity ratio: Total liabilities/ Total equity x 100=x% Debt ratio: Total liabilities/ Total asset x 100=x%
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Cost Accounting -- MIDTERM 1 1) Pointed Pencil company incurs the following costs in its manufacture of pencils. Classify each one of them according to one of the value chain functions: Functions: A) Research and Development B) Design of products‚ services‚ and processes. C) Production D) Marketing E) Distribution F) Customer Service G) Strategy and Administration ____ 1) Cost of wood used in manufacture of pencils. ____ 2) Cost of wood used in packing cartons to ship pencils. ____
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