organisational plan and all the related measures that an entity adopts to: * safeguard assets * encourage adherence to company policies * promote operational efficiency * ensure accurate and reliable accounting records. It is either an administrative control or an accounting control Characteristics of an effective internal control system include: * Competent‚ reliable‚ and ethical personnel * Assignment of responsibilities * Proper authorisation * Separation of duties
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control account 2. Which steps in the Financial Accounting Process are in the correct sequence based on closing the accounts and determining timing differences prior to issuing financial statements a.record the transaction‚ post to the ledger‚ prepare the adjusted trial balance‚ enter adjusting entries‚ prepare financial statementsb.record the transaction‚ prepare the unadjusted trial balance‚ record adjusting journal entries‚ record closing entries‚ prepare financial statementsc.record the transaction
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HIPPARCHUS (c 190 – c120 BC) Hipparchus was a Greek astronomer‚ mathematician and geographer. Surprisingly little is known about his early life. He was most certainly born in Nicaea‚ Bithynia‚ (which is now known as Iznik in Turkey)‚ around 190 BC. Most of what we do about him comes from the books of other scholars who came after him‚ such as Ptolemy and Strabo. It seems likely that Hipparchus studied in Alexandria but spent his later life in Rhodes. Strabo‚ another Greek geographer writing about
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Merchandise inventory is generally valued at the price for which the goods can be sold. reported under the classification of Property‚ Plant‚ and Equipment on the balance sheet. reported as a current asset on the balance sheet. often reported as a miscellaneous expense on the income statement. Items waiting to be used in production are considered to be finished goods. merchandise inventory. raw materials. work in progress. In a manufacturing business‚ inventory that is ready for sale is called store
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dictionary. If one compares the general number of meanings of a word in different dictionaries even those of the same type‚ one will easily see that their number varies considerably. Compare‚ for example‚ the number and choice of meanings in the entries for arrive taken from COD and WCD given below1. As we see‚ COD records only the meanings current at the present moment‚ whereas WCD also lists those that are now obsolete. The number of meanings a word is given and their choice in this or that
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Strategic Change of Campaign at Apple Inc. Dr Debajani Sahoo “Apple has a long history of exceptional advertising‚ starting with 1984”1. - Ross Rubin (Director of Analysis ‚ NPD Group‚ 14 Dec 2007) “Advertising a “core pillar” of Apple’s strategy:“It’s bringing in new people to Apple products.” Apple and its advertising agency take very different approaches to get that message across. Despite their differences‚Apple ads have in common at least one major advantage over many competitors’ commercials:
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Adjusting Entries Yvenie Desire ACCT205-1203A-11 June 9‚ 2012 Adjusting Entries Welcome to the company and as an accounting clerk for the department you will be working a lot with the accounting department and with me. I will be mentoring you on certain aspect of accounting and what needs to be done. First we’ll get started with why adjusting entries are necessary. “Adjusting entries ensures that the correct amount of revenues and expenses are recorded in a specified time period.” (Editorial
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This was an A paper Innovation is an introduction of something that is new. The new product could be a fresh product method‚ idea‚ service‚ and it could even be a device. However‚ to consider it innovation‚ it also has to be a replica as well as cost-effective price at the same time it needs to satisfy a specific need (Brianna‚ S 2013). Occasionally‚ innovation happens when a company is trying to meet their needs or their expectation of their customers‚ therefore they will interpret their inventions
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James E. Porter’s article is reflected in Michael Kleine’s article “What Is It We Do When We Write Articles like This One-and How Can We Get Students to Join Us?’ for both authors stress the argument that no idea is original. Porter and Kleine come to the conclusion that texts are derived from previous texts‚ which is where the importance of plagiarism comes into play. Porter’s article can be related to Deborah Brandt “Sponsors of Literacy” in the relation of the influence outside sources can possess
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Adjusting Entries – Examples Let’s work with some examples. We are working with a one year accounting period that ends on 12/31/X2. Let’s use a three step process. Step 1 – Analyze the transaction. Step 2 – Record in the journal. Step 3 – Post to the ledger. Example 1: On 12/31/X2 (before the adjusting process)‚ Supplies‚ an asset‚ has a balance of $2‚500. Employees take a physical account of the supplies on hand. That physical count reveals that $1‚200 of supplies remains. Step 1 ‐‐ The balance
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