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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ensure that every person born in the United States were citizens and were entitled to full and equal benefit of all laws. Nonetheless‚ the Fourteenth Amendment has gone beyond the provisions of the Civil Rights Act (Snavely‚ 1968). Nonetheless‚ in the case of In re Gault‚ he was not afforded due process. The justice system failed to give him and his parents notice of the charges against him‚ failed to advise him that he could be represented by counsel‚ confront his accuser and witnesses or was protected
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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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GENERAL NOTIONS 1. Kinds of Literature Literature can be subdivided into various kinds according to various criteria. It can exist in oral (folklore) or written form; literary speech can be prosaic or poetic. Literature can be divided into fiction and non-fiction. Non-fiction is a prose writing that presents and explains ideas or tells about real people‚ places‚ events. The main forms/genres of non-fiction are character sketch‚ journal‚ letters‚ memoirs‚ biography‚ essay etc. Fiction is
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http://jobview.monster.com/Senior-Accountant-Manager-Job-San-Juan-PR-US-130837373.aspx Questions and answers 1. Under what conditions is direct labor a valid basis for allocating overhead? Direct labor is a valid basis for allocating overhead when: (a) direct labor constitutes a significant part of total product cost‚ and (b) there is a high correlation between direct labor and changes in the amount of overhead costs. 2. What has happened in recent industrial history to reduce the usefulness
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101-00128 Oct 2014 Accounting Accounting is the recording‚ measurement‚ and interpretation of financial information (Business 286). This financial information is used to evaluate the organization’s operations. To carry out these interpretations of financial information a public or private accountant is able to do this. To become a public accountant you must earn your CPA (certified public accountant) by passing a test and means you are certified by the state in which you provide accounting services where
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Imagine living in a world where citizens preached that their country is the new free world and were granted rights and opportunities like no other country has done in the world. This may be true but as the matter of the fact‚ minorities and people of color could not get jobs‚ vote‚ or have rights like everyone else but instead live their lives as slaves and never treated like a human being. That is what the United States of America felt like and faced this reality from the day pilgrims settled on
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both‚ the poem Beowulf and the movie The 13th Warrior seek for the need of an epic hero‚ fame is what Beowulf and Buliwyf desire. In the poem Beowulf ‚ Beowulf hears of Grendel terrorising the Danes. Beowulf‚ showing his bravery steps up as the brave man he is. “Proclaiming that he’d go to that famous king‚ would sail across the sea to Hrothgar‚ now when help was needed” (lines 114 - 116) These lines show that Beowulf is desperate for fame. Unlike in The 13th Warrior Buliwyf bravery is not shown as
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activity‚ costs and prices of products. What effects can this manufacturing company expect on their profit if they add a new production line or they alter the machines and variable expenses change? All these questions are addresses using managerial accounting technique called cost volume profit. 2-1 Cost Behavior‚ benefits and difficulties ahead Change in organizations activity like designing or producing new type of clothing can affect costs of this manufacturing company. The relationship between
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What is a theory? In this book we consider various theories of financial accounting. Perhaps‚ there¬fore‚ we should start by considering what we mean by a ’theory’. There are various perspectives of what constitutes a theory. The Oxford English Dictionary provides various definitions‚ including: A scheme or system of ideas or statements held as an explanation or account (description) of a group of facts or phenomena. Explanation or Account (description) of a group
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