Inventory- merchandise on hand (not sold) at the end of the accounting period o Multi-step income statement- contains several sections‚ subsections‚ subtotals o Sales-total amount charged customers for merchandise sold – (cash sales‚ and sales on acct.) o Sales returns and allowances-granted by seller to customers for damaged/defective merchandise. o Sales discounts-granted by seller to customer for early payment of amounts owed. o Example- 2% discount on $10‚000‚ if paid in 10 days
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Bank Accounting is an application within the financial accounting module of SAP. It helps users in managing incoming and outgoing payments for cash balance controlling. It also further provides users with ease in managing accounting transactions with their respective banks. Master Data Master data is stored centrally in the bank directory. Bank Directories: these contain the bank master data for all the banks that the user approaches for business transactions. This means‚ data of the user’s own
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African American men‚ academic success can come at high costs…” (612). The cost is not only high for young African American men but also young women. When a young black man or woman is seen a successful they are deemed as a threat to their peers. They become a social outcast within their own race. According to Wright‚ academic success within in the black race to those who are not successful is seen as “acting white” (I Know Who I Am 612). Racial stereotypes are hindering the advancement of the African
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In the 1920’s‚ the United States economy boomed‚ bringing with it a new generation and way of living. A “New Morality” was taking over the nation and replacing old traditional values (Appleby 612). New Mortality expressed youth and personal freedom (Appleby 612). This created a lifestyle based on parties and spending money (Hensley 4). This new way of life came with new inventions and technologies. The radio‚ phonograph‚ and movies were all invented during the 1920’s. The automobile also became
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scrappings in recent years‚ and most of the capacity of the worldwide fleet of capesizes was fairly young‚ we can assume that the change of fleet size during 2001 mainly comes from these new ships. Similarly‚ we can expect the fleet size in 2002 will be: 612+(612-552)*(33/63) ≈ 643 From Exhibit 6‚ according to the forecast of the consulting group‚ iron ore vessel shipments will be 445 millions of tons in
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1. Appointment order Carol Adams President Rotary Club 6741 North Greasewood Street‚ Surprise‚ AZ‚ United States (623) 583-3500 November 20‚ 2008 Ruth Williams Senior Academician 404 8th Street South‚ Minneapolis‚ MN‚ United States (651) 291-8300 Dear Ms. Williams It is indeed a pleasure to announce your appointment as a chief editor of "Education Update" a fortnightly magazine published by Rotary Club. You have been working in rotary as a member for last five
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ACCOUNTING MINICASE: ACCT – 08 TEACHING NOTES BUSINESS ETHICS PROGRAM Booking the Budget Teaching Notes What Are the Relevant Facts? 1. Maria and Andy have organized and are responsible for the accounting system of the HMO. 2. Bob and Connie‚ executive officers of the HMO‚ are mainly concerned with rosy sales results. 3. Financial sales accruals have been recorded for numbers that are closer to budget projections than actual sales. 4. Auditors reviewing the financial figures will require
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SHIRLEY S. CARRILLO were appointed as the official signatories and authorized persons to transact legal matters and concerns in relation to their duties; WHEREAS‚ GTMEMPCO has an active joint account to GSIS Family Bank (General Trias Branch) with Acct. No. 10-009-005907-5 under the names of DENNISE R. COLUMNA and MARIBEL S. MOYA; WHEREAS‚ upon effectivity of this resolution‚ the depositor’s name of said account will now be changed from DENNISE R. COLUMNA and MARIBEL S. MOYA to DENNISE R. COLUMNA
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Edita Mercado Su Jane Acct 301 FASB Codification Assignment 3/13/2013 Professional Research: FASB Codification A. Identify relevant Codification section that addresses transfers of receivables. The relevant codification section that addresses transfers of receivables is the following: FASB ASC 860-10-05-15. C. Provide definitions for the following: 1) Transfer: The conveyance of a noncash financial asset by and to someone other than the issuer of that
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ACCOUNTING MINICASE: ACCT – 13 TEACHING NOTES BUSINESS ETHICS PROGRAM Survive the Year Teaching Notes What Are the Relevant Facts? 3. Not make the allowance adjustment but provide information to the auditor that will effectively lead to revealing the uncollectability of the Ender account. Chris and Robin‚ the CEO‚ know a material receivable is probably uncollectable‚ but no adjustment to the allowance account has yet been made. 4. Make a partial adjustment for the uncollectable receivable
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