Master of Business Administration- MBA Semester 1 MB0041 – Financial and Management Accounting Q1. Accounting is one of the oldest‚ structured management information system. Give the meaning of accounting and book keeping? Explain the objectives of accounting? ANS. Meaning of Accounting- The systematic and comprehensive recording of financial transactions pertaining to a business. Accounting also refers to the process of summarizing‚ analyzing and reporting these transactions. The financial statements
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HEADER: Role of Cost Accounting and Ethical Consideration Role of Cost Accounting and Ethical Consideration Introduction Cost accounting is used to help management understand how much it cost to run a business. Understanding the role of cost accounting is important when one is trying to put together a team of managers to help run the company. The CEO of a merchandising organization needs to hire a CFO to run the accounting system‚ but the CEO has little understanding of cost accounting. The
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2-1 BU8101 Accounting: A User Perspective Lecture 2 The Accounting Cycle Wednesday‚ 17 August 2011 Mrs. Ho Yin Kheng S3-01C-88 Nanyang Business School Nanyang Technological University Email: yklau@ntu.edu.sg Tel: 67905694 2-2 LO 2 Lecture Outline 1. Analyzing Business Transactions 2. Recording Process a. b. c. d. e. f. The Source Document The journal The accounts Debit and Credit rule Recording process illustrated Unadjusted trial balance 3. Adjusting entries
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Air pollution is by far the most harmful form of pollution in our environment. Air pollution is cause by the injurious smoke emitted by cars‚ buses‚ trucks‚ trains‚ and factories‚ namely sulphur dioxide‚ carbon monoxide and nitrogen oxides. Even smoke from burning leaves and cigarettes are harmful to the environment causing a lot of damage to man and the atmosphere. Evidence of increasing air pollution is seen in lung cancer‚ asthma‚ allergies‚ and various breathing problems along with severe and
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Research Paper Outline & Thesis: Eminent Domain Some people simply are not prepared for the new neighbors moving into America: the abuses of eminent domain. Although it has been around a great deal of time‚ eminent domain is unjustly taking land from the American people at an alarming rate. Eminent domain really is defined as being the government power exercised to purchase land or property from the people in order to develop the land or property for economic or community expansion. This topic is
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REPORT The Role of Accounting in Organizations and Society Accounting plays an important role in interfacing society and organization. As it is also mentioned in Burchell article “it is presumed that accountings are there to facilitate organizational and social actions.”As we know that accounting is helpful for structuring of organizational objectives‚ to reduce financial risk‚ to make financial decisions‚ it also helps organization to take into account different stakeholders interest like investors
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Rupavilas Patel Kaplan University Unit 1 Assignment Chapter 1 5 What role does professional research play within an accounting firm or department? Who primarily conducts the research? Professional research‚ if carried out properly‚ gives an accounting professional the tools need to investigate and assess an issue or problem that a client‚ business‚ or government may have. Being able to do this on a regular basis is a very important aspect of being a public accountant. Especially in today’s society
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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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AYN 415 Research report: Accounting Regulatory Environment Word Count: 1361 Prepared by Raymond Morar 07541783 Yi Wang 07409745 Project 1: Going Concern Background The FASB’s rationale for this project is to increase consistency in the already existing going concern reporting model and disclosures. This project was added to provide guidance for entities in assessing their ability to continue as a going concern‚ and the timing‚ nature and extent of associated disclosure requirements
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Introduction Accounting information system An accounting information system (AIS) is a system that first collects and stores data and then processes it into information used by decision makers (investors‚ creditors‚ and managers). This information generated from an AIS can ultimately help decision makers manage organizations more efficiently and strategically. Though an accounting information system can simply be a paper-and-pencil-based manual accounting system‚ today‚ the term AIS is most
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