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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Using the SPADE method‚ analyze Giordano Holdings Limited‚ Inc. Case SITUATION Jimmy Lai was born into poverty in Guandong‚ China. He was exposed to many western retail businesses that encouraged him to join the retail market himself. He thought of using a pizza parlor name to open his clothing chain. Lai founded Giordano in Hong kong in 1981. Giordano’s success is measured by the company’s relentless focus on its five corporate business values of quality‚ knowledge‚ innovation‚ simplicity
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Take Five Sports Bar and Grill has established a successful presence in the food and beverage service industry. The flagship location in suburban Anytown (Medlock Bridge) will gross in excess of $2 million in sales in its first year of operation‚ ending July 1996. First year operations will produce a net profit of $445‚000. This will be generated from an investment of $625‚000 in initial capital. Since 10 months of operations have already been completed the confidence level for final first year numbers
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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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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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3 Adjusting Accounts and Preparing Financial Statements QUESTIONS 1. The cash basis of accounting reports revenues when cash is received while the accrual basis reports revenues when they are earned. The cash basis reports expenses when cash is paid while the accrual basis reports expenses when they are incurred (and matched with revenues they generated). 2. The accrual basis of accounting generally provides a better indication of company performance and financial condition than does
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Market Segmentation of the Different Brands Consumers in the bookstore industry differ in their wants‚ resources‚ buying attitudes and buying practices. For this report‚ the different market segments of Popular Holdings will be examined through segmenting the brands by specifically looking at the characteristics and purchase behavior of the target consumers of the different brands. Market Segmentation Based on Consumers’ Characteristics The consumers in the bookstore industry display very different
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environment and programs remain stimulating‚ challenging‚ and inviting. Recreation and leisure activities offered by the Chapel Hill Recreation Center focus on integrating mind and body through positive traditional and non-traditional recreation and sport activities. Facilities: The facilities for the new Chapel Hill Recreation Center consist of two basketball gymnasiums‚ one state of the art weight room‚ two baseball and softball fields and one state of the art swimming pools. Target Audience:
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their passion into a successful business is the way to go. India has thousands of frustrated sports aficionados who are motivated and ready to work for the betterment of sports in the country. Sports fans are a formidable customer base. So if you love sports the only thing that can limit the possibilities of sports entrepreneurship ideas is your imagination. Simply think business first and then apply sports to it. If you are not sure what type of business you can start‚ here are a few ideas: • Website:
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Executive summary Online sports marketing has become the best foundation for building fan communities for professional sports league and teams. With the development of more powerful technologies‚ access to the internet has increased. Websites are now including media such as audio and video files‚ podcasts and live broadcasts of league games. More powerful media has also enabled more user interaction and user empowerment. Two key elements in the increasing use of online services to increase the
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