Eighth Edition Fundamental Financial Accounting Concepts Thomas P. Edmonds University of Alabama–Birmingham Frances M. McNair Mississippi State University Philip R. Olds Virginia Commonwealth University Edward E. Milam Mississippi State University (Contributing Author) FUNDAMENTAL FINANCIAL ACCOUNTING CONCEPTS Published by McGraw-Hill/Irwin‚ a business unit of The McGraw-Hill Companies‚ Inc.‚ 1221 Avenue of the Americas‚ New York‚ NY‚ 10020. Copyright © 2013‚ 2011‚ 2008‚ 2006
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Eminent domain is the right of a government to expropriate private property‚ by fiat‚ for what it deems is ‘public purpose’. Historically‚ it has often been subsumed within sovereignty and counted as its attribute. Eminent domain comes from the Latin phrase dominium eminens‚ taken from Hugo Grotius’s legal treatise‚ De Jure Belli et Pacis (on The Law of War and Peace)‚ written in 1625 . It allows the government to transfer or re-allocate private property rights against the payment of ‘just compensation’
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Eminent Domain Is Wrong By Kevin Gubelman Eminent Domain what is it? What does it mean? Eminent Domain is a concept that could affect anyone who owns property‚ rents property‚ or just has an interest in a particular location. Eminent Domain was a foreign concept to me until‚ the possibility of it becoming a reality to my grandparents. It was then that I started to notice newspaper articles‚ local and national radio and television reports. Okay‚ so exactly what is this Eminent Domain and how could
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Universiti Utara Malaysia‚ The Eminent Management University The sixth Malaysian public university is Universiti Utara Malaysia or well known as UUM. It was established on 16 Februari 1984 and started it’s academic year with the first batch of students in June . In the early time‚ the university was located in Bandar Darul Aman‚ Jitra as a temporary campus with lack of accomodation. After six years of construction‚ the RM 580 million UUM permanent campus was opened in Sintok ‚it was situated
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Checkpoint: Accrual Method •Nonprofit organizations are required to produce financial statements based on the accrual method of accounting. How is this different from the cash basis of accounting? Why is accrual accounting important? Cash basis accounting‚ for example when you ship goods out of your business to customers and they have receipt but have not received the cash‚ means that you may have not booked the revenue. Accrual accounting is more accurate with the timing of reported revenue
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on:- “The use of the Historical Cost convention and the accrual concept for stewardship and for decision making” Topic 1: The Historical Cost Convention Introduction The historical cost convention is unarguably one of the most debated topics in the theoretical base of accounting. Some are of the opinion that it should be done away with‚ while others believe that it plays a vital role in presenting an accurate picture of the business concern. The Historical cost convention has different uses and dimensions
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Accruals and Prepayments of Income Revision 1) You work as an accounts assistant for Snazzy Magazine‚ a subscription only publication in South Wales. You have been given the following information relating to the year to 31st December 2010: Subscriptions paid into the bank account of Snazzy Magazine during 2010 - £4‚800. This figure includes subscriptions of £1‚200 for 2011. You are to provide the T account which clearly shows the amount transferred to the Income Statement and the balance
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Eminent domain‚ also referred to as condemnation‚ or expropriation is the government’s ability to seize private property for “public use” while paying the landowner a fair price. As innocent or necessary as the concept may have been in its beginning‚ today it is a power play that is being abused‚ and has potential to negatively affect the environment. The original intent of eminent domain was for the betterment of society as a whole. Over time political officials have used the courts to corrupt this
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Information Technology and the ‘Going Paperless’ Concept The idea of a company’s business operations venturing into a paperless environment from a paper-filled filing cabinet clutter is not a new concept. The aspiration for a paperless environment was conceived in the minds of management beginning over twenty years ago‚ dating back to manufacturers and the idea of paperless workstations. (Weber) Unfortunately‚ the businesses then were forced to delay paperless environment execution due to a
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Green Accounting: Concepts and Practices Research Paper Responsibility towards environment has become one of the most crucial areas of social responsibility. With the concept of sustainable development catching on rapidly‚ corporate and industrial houses across the world are increasingly incorporating the environmental element in their day-to-day business operations. They are clear in their perception that along with quality‚ safety of the environment too‚ is an important factor in making a business
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