Accounting Speech By Jill A. DeBonis American InterContinental University Online Abstract In this essay I hope to explain the more common terms used in accounting. A small biography of why I love accounting. And how technology (computers) has helped create a much easier way of life for accountants. Accounting Speech What is the definition of an accountant? Someone who solves a problem you did not know you had in a way you don’t understand (n.a. 2011). Does that sound about right for
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QUESTIONS FOR MID-TERM EXAM 1. All the users of interested parties (users of information) have equal possibility/rights/power to get company’s financial information. Do you agree with this statement (give you arguments)? How financial statements are useful to the various interested parties (users of information)? Financial accounting’s aim is to allow all the users of interested parties to understand firm’s situations in global and synthetic way. The financial statement produce information
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General Accounting Department to reduce hundreds of millions of dollars in line cost expenses and increase capital asset accounts by the same amount through fraudulent adjustments and entries in WorldCom’s general ledger to mask WorldCom’s true performance. These entries were made after the close of the quarter and lacked any business justification or supporting documentation. Sullivan explained to Ebbers that to meet Wall Street expectations the Company would have to engage in accounting practices
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Accounting is founded on the basic equation that states a company’s Assets equal their total Liabilities plus their total Owner’s Equity . This equation is summarized as ALOE . This isthe basis of the Balance Sheet.Assets are the company’s furniture‚ fixtures and equipment‚ physical property‚ intellectual property and other resources. These properties include the physical land as well as the equipmentand building improvements on the property.A company’s liabilities
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Careers In Accounting Sheila Davis Professor Jacob Angima Accounting 100 November 27‚ 2014 Careers in Accounting A career option someone can pursue with an accounting education would be an Auditor. Auditors prepare and examines financial records. They ensure that financial records are accurate and that taxes are paid properly and on time. Auditors asses financial operations and work to help ensure the organizations run efficiently. http://www.bls.gov/ooh/business-and-financial /accountants-and
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ACCOUNTING CONCEPTS What are the Account Concepts? In order to maintain uniformity and consistency in preparing and maintaining books of accounts‚ Certain rules or principles have been evolved. These rules/principles are classified as concepts and conventions. These are foundations of preparing and maintaining accounting records. “Accounting concept refers to the basic assumptions and rules and principles which work as the basis of recording of business transactions and preparing accounts
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16. Which of the following federal officials is a "principal" of the Joint Financial Management Improvement Program who considers and approves or disapproves accounting and reporting standards recommended by the Federal Accounting Standards Advisory Board? A. Chair of the Federal Accounting Standards Advisory Board. B. Secretary of the Interior. C. Comptroller General. D. All of the above. Content: Concept Level: Easy Wilson - Chapter 12 #16 17. FASAB has identified four major
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Multiple Choice (80%) 1. Which of the following is not a category of financial statement ratios? a. Financial leverage. b. Liquidity. c. Profitability. d. Prospectus. 2. An individual interested in making a judgment about the profitability of a company should: a. review the trend of working capital for several years. b. calculate the company’s ROI for the most recent year. c. review the trend of the company’s ROI for several years. d. compare the company’s ROI for the most recent year
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ACCOUNTING FOR INCOME TAXES F 1. Taxable income is a tax accounting term and is also referred to as income before taxes. F 2. Pretax financial income is the amount used to compute income taxes payable. T 3. Deferred tax expense is the increase in the deferred tax liability balance from the beginning to the end of the accounting period. T 4. A deferred tax liability represents the increase in taxes payable in future years as a result of taxable temporary differences existing at the end
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Biyani’s Think Tank Concept based notes Cost Accounting [ B.Com. Part-II] B.N. Gaur MBA‚ PGDBM‚ Lecturer Deptt. of Commerce & Management Biyani Girls College‚ Jaipur Fore more detail:- http://www.gurukpo.com Published by : Think Tanks Biyani Group of Colleges Concept & Copyright : ©Biyani Shikshan Samiti Sector-3‚ Vidhyadhar Nagar‚ Jaipur-302 023 (Rajasthan) Ph : 0141-2338371‚ 2338591-95 • Fax : 0141-2338007 E-mail : acad@biyanicolleges.org Website :www.gurukpo.com; www
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