The basic accounting process is a common financial feature of running‚ or helping to run‚ any business. At the start of the process there is a transaction and at the end the books are "closed". The basic accounting process includes: Analyzing and classifying the transaction Preparing the trial balance Preparing financial statements Preparing and reversing journal entries To analyze and classify the transaction the source document must be prepared. This could be an invoice or a purchase order
Premium Generally Accepted Accounting Principles Income statement
Assets + Expense = Liabilities + Incomes Asset named Cash Balance created and Liability Shareholder’s Capital gets created 100000 + 0 = 100000 + 0 b Purchased inventory on account for $200‚000. Assets + Expense = Liabilities + Incomes Asset named Inventory created and Liability Vendor payable gets created 200000 + 0 = 200000 + 0 c Sold inventory for $200‚000. $75‚000 of the sales were for cash and $125‚000 were on account. The inventory
Premium Generally Accepted Accounting Principles Balance sheet Accounts payable
A. COMPARING THE ACCOUNTANT AND THE FINANCIAL MANAGER. The role of an accountant is like a skilled technician who takes measures of a company’s health and writes a report financial managers examine the data prepared by accountants and make recommendations to top management regarding strategies for improving the company’s financial strength. (2) A manager cannot make sound financial decisions without understanding accounting information.
Premium Generally Accepted Accounting Principles Working capital Inventory
April 19‚ 2011 The choice of an open vs. closed adoption is one of the most important decisions a mother can make during the adoption process. For both processes an agreement is crafted to detail the rights of the birth parents in the life of the baby following the adoption. There are many pros and cons to both options. Both can be seen and evaluated in the following articles that clearly explain and discuss these two options. Also‚ another form of clarification is the textbook‚ Marriages and Families
Premium Adoption Family law Family
La Tisha Johnson October 10‚ 2010 Civilization 1 Why does the flood happen? Why is Utnapishtim singled out to be saved? Why does the flood happen? The flood happens because the counselor Enlil wanted to kill off all humans that lived in Shuruppak. He wanted to punish all of the humans for their sins and crimes they have committed. “It is right to punish the sinner for his sins‚ to punish the criminal for his crime”(pg 189-190 book xi. ) Five of the Gods in secret agreed to flood Shuruppak
Premium Epic of Gilgamesh God Deity
Closed adoptions are adoptions in which the birthparents of the adopted child have no contact with the child after he/she is adopted or with the adoptive parents. No identifying information is provided to the adoptive family or the adopted child. Closed adoptions are controversial because they basically cut off all connections between the child and the birthparents. The child may never know who their birthparents are and they may have many questions that may remain unanswered. Many people think
Premium Adoption
Q1. Management accounting is a field of accounting‚ it analyses and provide cost information to internal user (Ex: employee‚ management) for the purpose of PLANNING‚ CONTROLLING‚ and DECISION MAKING. P.S. CIMA (Chartered Institute of Management Accountants) defines Management accounting as “Management Accounting is the process of identification‚ measurement‚ accumulation‚ analysis‚ preparation‚ interpretation‚ and communication of information that used by management to plan‚ evaluate‚ and control
Premium Decision making Management Planning
Theory of Accounts 1. The fundamental qualitative characteristic of faithful representation has the components of a. Predictive value and confirmatory value b. Comparability‚ consistency‚ and confirmatory value c. Understandability‚ predictive value‚ and reliability d. Completeness‚ neutrality‚ and freedom from error 2. The amount reported as “Cash” on a company’s balance sheet normally should exclude a. Postdated checks that are payable to the company b. Cash in a payroll account c. Undelivered
Premium Balance sheet Asset Generally Accepted Accounting Principles
closed up Group: The Grey Warden Sem2 - 2010 Marketing Plan Close-up Bui Minh Hoang s3256231 Nguyen Minh Vu s3255214 Hoang Thi Mai Huong s3275008 Do Thanh Phuong Thao s3255388 Huynh Le Minh Nhat s3300531 PhanThi Ha Phuong s3299578 EXECUTIVE SUMMARY: Close-up toothpaste is one of famous products at Unilever Company in Vietnam. The slogan of Close-up is “long lasting fresh breathes to get people closer”‚ so the special feature of close up is breath freshness. Although Close-up has
Premium Marketing
to an infection from exposure to the bacteria. When the wound gets infected‚ surgeons are required to perform an arthroscopy‚ repeating the motion cutting the wound and washing it for approximately two to three hours. Another type of fracture was closed fractures; these are when the bone does not penetrate the skin. While adults and children can have the same types of fractures‚ a child’s bone are soft and bendable. Children have an epiphyseal plate at the end of a long bone known as a pediatric
Premium