Comparing Accounting Software Programs to Manual Accounting Manual accounting uses several paper ledgers to record financial transactions. It is very time consuming to record each single transaction onto paper‚ being very cautious not to make an error. There are several ledgers for each part of the accounting system‚ such as accounts payable‚ accounts receivable‚ and revenue accounts. Combining these ledgers into one general ledger‚ provide the balance for each ledger. The general ledger
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Problems and Solutions 4 Disneyland chapters 6 & 7 1. Bad breakfast organisation problem: Solution: To increase number of employers in restaurants and to open more restaurants which serves breakfast. To organise more coffee mashines or coffee stands. Sell cheaper food like hot dogs‚ sandwiches... ( For example‚ Disney had thought that Europeans wouldn’t like to have a big breakfast in the morning. This misjudgement led to hungry and unhappy crowds in the mornings while most of the restaurants
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Question 1 The ethical guidelines which accountants are obliged to follow in the conduct of their work are made to combat criticism and gain credibility by preventing fraudulent accounting. Accountants ought to be able to maintain impartiality and independence to create a clear‚ credible and unbiased audit. Hence‚ the ethical principles are considered important. This is because the work of accountants requires a high level of ethics since the financial statements prepared and verified by auditors
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Question 1 Use the data below to answer Parts (a) through (c). Show all calculations in your solutions. On January 1‚ 20X2‚ Haika Inc. purchased 60% of the outstanding voting shares of Selina Co. for $3‚000‚000. On that date‚ Selina’s shareholders’ equity consisted of retained earnings of $2‚000‚000 and ordinary shares of $1‚000‚000. Selina’s identifiable assets and liabilities had fair values that were equal to their carrying values on January 1‚ 20X2‚ except for the following: | Fair value
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HomeWork Week 4 3.2 If a problem is discovered during the budgeting process the manager will be able to create a different plan‚ which will allow them to avoid the problem. 3.12 Predicting anticipated cash shortages is vital for a business. Budgeting allows us to gain an understanding of when these cash shortages might arise and how to best manage them. For example predicting a cash shortage ahead of time will allow applications for loans to be made and hopefully approved depending on current
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—Conceptual 21.Which of the following is not considered cash for financial reporting purposes? a.Petty cash funds and change funds b.Money orders‚ certified checks‚ and personal checks c.Coin‚ currency‚ and available funds d.Postdated checks and I.O.U. ’s 22.Which of the following is considered cash? a.Certificates of deposit (CDs) b.Money market checking accounts c.Money market savings certificates d.Postdated checks 23.Travel advances should be reported as a.supplies. b.cash because
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5 PROBLEM 28. Y‚ an S corporation formed at the beginning of the year‚ has the following information in its first year: Gross Income from services $100‚000 Net short-term capital loss (2‚200) Salary paid to F (10‚000) Medical insurance premium for F (300) Other operating expenses (54‚000) Cash distributions to F 5‚000 F‚ a 50 percent owner of Y‚ is single and has no other tax information. F’s A.G.I. is a. $21‚900 b. $26‚750 c. $26‚900 d. $35‚700 e. Some other amount‚ which is $_________
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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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4 | | | | | | THE MARKET FORCES OF SUPPLY AND DEMAND | | | OF SUPPLY AND DEMAND | | | SOLUTIONS TO TEXT PROBLEMS: Quick Quizzes 1. A market is a group of buyers (who determine demand) and a group of sellers (who determine supply) of a particular good or service. A perfectly competitive market is one in which there are many buyers and many sellers of an identical product so that each has a negligible impact on the market price. 2.
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Leadership • Teams and teamworking The External World • • • • The environment Strategy Innovation CSR and business ethics 10 The Professional You 11 The ‘Professional You’ - Think - Feel - Believe - Behave/Act 12 4 3/3/2014 You in relationship 13 You in relationship at work ›Leadership ›Team and team-working ›Cultural Intelligence 14 15 5 3/3/2014 The external environment ›The environment ›Strategy ›Innovation ›CSR and business
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