ACCT 203: Section 1 Essay Instructions The Issue: You are a partner in Acme Accounting PSC and as such are considering how to respond to a letter written to you by “Bob” a new client. In his letter‚ he stated that he heard that there are two ways he can identify cost in the normal course of his construction business operations. He would like two know what they are‚ the major differences between them and which one best fits his business in terms of performance analysis. Your partners have asked
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Wheeler-Lea Act of 1938 was created as an amendment to the Federal Trade Commission Act. It made the FTC independent from the Department of Justice and also made unfair and deceptive sales illegal. The above are all industrial regulation entities. Industrial regulation ensures pricing fairness throughout any industry according to a specific commodity. It can be put in place by the industry itself or the government as in the entities listed in the above paragraph. It exists to effect market structures
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Financial Crisis has caused the threat of total collapse in large financial institutions‚ downturn of stock markets as well as bail out of banks by many governments. This has brought more concern on banking supervision and regulation. There is a need to reform the financial regulation as it is one of the factors that contributes to the crisis. Many efforts have come underway to address many of the limitation in the financial infrastructure. Massive global legislative and regulatory responses are generated
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The formation of the debit and credit concept In this simplified form we can begin to see what the mathematician and Father of Accounting (Luca Pacioli) saw in 1494 when he codified the double-entry bookkeeping system. It is his codified system that outlined the rules for applying debits and credits when recording the financial transactions of a business in the double-entry bookkeeping system. Now remember that Luca’s book in 1494 was written and published in Latin and at a time when the concept
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Self-Regulation of Learning PSYCH/635 February 2‚ 2015 Self-Regulation of Learning In the past few years obesity has been on the rise. Many fast food restaurants have been blamed for people being obese. In stores‚ there are many process foods‚ in which it confuses people when buying groceries. People may think that they are buying healthy products when the foods are not healthy. When it comes to health people‚ need to self-regulate themselves into adapting of learning what foods are healthy and which
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Classmates‚ According to (Oster‚ 2014)‚ "Percentage of receivables and percentage of sales are two accounting allowance methods used to reconcile customer accounts deemed noncollectable. When allowed by generally accepted accounting principles (GAAP)‚ these two strategies are preferred over direct write-off of bad debt expenses. Percentage of receivables and percentage of sales provide a business with the ability to accurately estimate the expected bad debt losses they will have in each succeeding
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Do you think self-regulation is effective when it comes to Indian television? Self regulation in my veiws is...... I see self-regulation and the promotion of quality journalism as additional safeguards of media freedom and even of media power. but when the journalists are asked they say “ we must have self- regulation — but for the other channel‚ but not us!” When it comes to constructing their own news‚ they think very little of professionalism and traditional norms‚ such as getting both
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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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Ontario Regulation 455/07 and Demerit Point System The Ontario Regulation 455/07 and the Demerit Points System work hand in hand with each other to keep the driving roads safe and the people on it far from danger. Firstly‚ the Ontario Regulation 455/07 is a detailed article that states rules against extreme drivers. To begin with‚ this document prohibits racing on roads. Whether a driver is racing‚ chasing or attempting to outdistance another car‚ he/she will be charged with the offence of
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Health Law and Regulations Crystal Young HCS 545 October 3‚ 2011 Louise Underdahl Health Care Regulation Regulation plays a major role in the healthcare industry and healthcare insurance coverage. Through various regulatory bodies‚ the Department of Health and Human Services protects the public from a number of health risks while providing programs for public health and welfare. Agencies like the Centers for Medicare and Medicaid
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