ACCOUNTING 202: Principles of Accounting SPRING 2011 |Instructor: Denise White‚ CPA | |Office Phone: 293-7846 | | | |Web: access the course Web site through WVU eCampus | |Section 001 MWF 10:30 CRN 10655 | |E-mail: dwhite@mix.wvu.edu Always
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The AT Corporation made some transactions of inventory during the month of September. Total number of units available for sale during the month is the sum of the units at opening inventory and units purchased during the month which is as under: During the month 4‚000 units and 4‚000 units have been purchased on 16th September and 25th September. The opening inventory of the month of September is 5‚000 units. Total number of units sold during the month is as under: During the month 2‚000 units
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Table of Contents * The meaning of Management * Management Functions and Process * Management Approaches * Motivation Theory * The Meaning of Management Management may be defined in many different ways: “Management is the development of people and not the direction of things” - Lawrence A Appley “Management is defined as the process by which a co- operative group directs action towards common goals” - Joseph Massie “Management is a distinct process consisting of planning
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Limitations of Financial Accounting: Financial accounting is the only branch of accounting and it is not perfect. There are large numbers of limitations which open new way to use other tools of accounting. To know what are the main limitations of financial accounting. It is very necessary for accountants. Accountants are often blind to these limitations. So‚ I am covering its limitation a lot of ground. Read below and understand:- 1. Financial accounting is of historical nature Net effect
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Advance Financial Accounting (FIN-611) VU LESSON # 1 ACCOUNTING FOR INCOMPLETE RECORDS 1. Introduction This topic is also known as Single Entry System of Accounting. In this chapter we will learn how an accountant prepares financial statements of those organizations which are not keeping up proper double entry book keeping system of accounting. From accounting system stand point‚ business organizations can be classified into three broad categories: 1.1 Small scale business entities These consist
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Current status of public sector accounting in Malaysia- Cash Basis Accounting Revenue is only recorded when the cash is actually exchanged for example‚ when revenue is received as cash and when expenses are actually paid. http://www.quora.com/What-are-the-differences-between-cash-basis-and-accrual-basis-accounting Why government used the cash basis of accounting? Easy to learn and carry out and requires care but no special accounting skills. Well-adapted to needs of budgetary control and payment
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own products‚ which he sold to hairdressers in Paris. In 1919‚ Schueller registered his company: the Société Française de Teintures Inoffensives pour Cheveux‚ the original L’Oreal. Research and innovation in the field of beauty were the guiding principles of the company‚ which eventually became L’Oreal. L’Oreal is a listed company‚ holding 27 international brands. The founder’s daughter Liliane Bettencourt and her family hold 30.8% of the shares and voting rights‚ the Swiss food company Nestlé owns
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• Accounting is the system that measures business activities and process information into reports. • Accountant maintain‚ audit and prepare financial records for a person or a company. • Main careers in accounting - bookkeeper‚ auditor‚ financial advisor‚ taxation‚ carbon accountant and accountant etc… • Bookkeeping is recording financial recorders and summaries of financial transaction. Accounting is measuring business activities and process information into reports. • Main professional accounting
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Introduction Over the past years there have been many accounting measurement systems developed to replace or serve as a supplement to historical cost accounting. However it is not possible‚ at present‚ to state which system‚ if any‚ is likely to replace the historical cost system. Perhaps the most notable system is Continuously Contemporary Accounting (CoCoA)‚ proposed by Australian researcher‚ Raymond Chambers. Chambers quoted “…that thousands of shareholders had lost millions of dollars on security
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Accounting Equation Paper Student Course Date Instructor Accounting Equation Paper The accounting equation which we know as Assets equals to Liabilities plus Equity for a sole proprietorship and for a corporation we know it as Assets equals to liabilities plus stockholders & equity. Assets are company owned‚ liabilities are what company owes and the difference between the both of them is the owner’s equity‚ these three things are what the companies
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