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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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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with work. Sometime they have some problems with their work and they have stress and they feel tired‚ so they would not want to come to study that make them missing class. Sometime they haven"t finish their work‚ so they take more time to do it‚ then they will miss some classes. Is it wrong for the action that we (student) should be penalized for missing classes? It is impossible. We should not be punished because we only make an effort for our future career and ourselves. If you wait until you finish
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Sublayers of the data link layer The data link layer has two sublayers: logical link control (LLC) and media access control (MAC). Logical link control sublayer The uppermost sublayer‚ LLC‚ multiplexes protocols running atop the data link layer‚ and optionally provides flow control‚ acknowledgment‚ and error notification. The LLC provides addressing and control of the data link. It specifies which mechanisms are to be used for addressing stations over the transmission medium and for
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Link wheel is effective and widely used internet marketing strategy. The basic idea of link wheel is to create a variety of links which flow from your site to another site which would finally link to your targeted website requiring promotion. The best‚ common and free method of setting up a link wheel is to use free free web 2.0 websites that generate “do follow” links. These web 2.0 websites are important because they sometimes tend to hold a higher page rank value. The theory is very easy to
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Link reaction The link reaction takes place in the mitochondrial matrix and its main function is to turn the pyruvate into acetate for the kerb cycle. During the link reaction the pyruvate molecule undergoes decarboxylation and dehydrogenation‚ the enzymes pyruvate decarboxylase and pyruvate dehydrogenase remove the carboxyl group (which becomes a carbon dioxide molecule) and removes the hydrogen atoms from the pyruvate molecule. The coenzyme NAD accepts the two hydrogen atoms and becomes reduced
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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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conflicting targets and a trade-off needs to be made between the two. Required: Write an essay that draws on the above arguments in relation to the concepts of materiality‚ prudence and neutrality‚ and relevance and reliability In this assignment‚ I shall discuss 3 main parts and they are: Materiality and the difficulty in defining this concept The concept of prudence and its conflict with neutrality The conflict between relevance and reliability. Most of the times‚
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For a conflict over the use of a local resource‚ analyse the causes of the conflict and assess the extent to which it has been/can be resolved to the satisfaction of all those concerned (40 marks). Analyse- break down the content of a topic‚ or issue‚ into its constituent parts in order to provide an in-depth account. Assess- weigh up several options or arguments and come to a conclusion about their effectiveness based on criteria. Local resource- Heathrow Expansion News articles
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Introduction to Accounting Accounting is a profession used to make financial and business decisions. Billions of dollars exchange hands every day‚ in millions of separate business transactions. These are recorded and reported on using a comprehensive set of guidelines‚ referred to as Generally Accepted Accounting Principles (GAAP). Brief History of Accounting Accounting was born before writing or numbers existed‚ some 10‚000 years ago‚ in the area known as Mesopotamia‚ later Persia‚ and today the
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