Article Analysis From Enron to Tyco‚ accounting scandals have always been a worrisome issue in accounting. Regardless of how many internal controls there are‚ there will always be a chance for unethical practices in accounting. Where and when do these problems arise? This paper will analyze an article listing situations that lead to those unethical practices and behavior that lawmakers try to prevent. In his article “What Are the Causes of Ethical Lapses in Accounting‚” Jagg Xaxx writes that business
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Bis3642 PROJECT 1. The sports shop system. -This project is going to be used at the shop that sell the sports product like clothes in the point of sale 2. Objective of the sports shop system. 2.1 Customer that will register will have their own card number and the id‚ and the system will issue a pin for that particular customer. -It must update the stock into the system -It should be able to search the product available. -It must produce a report -It must issue a slip to the customer
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1. IntroductionPensonic Company Pensonic is one of the most successful trading companies in Penang‚ Malaysia that sells a wide variety of electrical appliances. In addition to its own brand “Pensonic”‚ the company also owns the German brand “Lebensstil Kollektion” and owns the sole-distribution rights for the Dutch brand “Princess” in Malaysia. Pensonic also established a mass production hub and international distribution network of electrical home mechanism and an international distribution network
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of the times‚ people find it difficult to understand the various accounting Concepts. In this coursework‚ I shall analyze these concepts and explain them. First of all I shall discuss the materiality concept. WHAT IS MATERIALITY? Authoritative accounting bodies in the USA such as Financial Accounting Standard Board (FASB)‚ Securities and Exchange Commission (SEC)‚ General Accounting Office (GAO)‚ American Institute of Certified Public Accountants
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Large‚ crisp snowflakes fell gracefully from the skyline like dancing fairies. The taste of excitement lingered in the misty air. As the shop lit up like a Ferris wheel on a fair ground and as the door began to rotate‚ the ever-awaiting crowds stood brimmed with delight. They began to swarm the door like a gathering of bees. The pounding of enthusiastic footsteps shook the ground as if a herd of elephants had passed. Staff‚ who worked in military precision‚ warmly greeted the over joyed kids as they
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Accounting and Finance Management Assignment 2 Semester: 3 Prepared by: Osoba Seun Student Number: Sc-Kl-00021763 Email Address: josher4real@yahoo.com Date submitted: 17/01/2014 Question 1 Sales Budget September ($) October ($) Budgeted sales (units) 9‚500 Selling price per unit $12 Total sales 90‚000 114‚000 Schedule of expected cash collections: October ($) Account
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station. As we arrived I noticed the long row of cars filling every available parking space in front of the shop. This gave the assumption that this was a very busy time for the business because I noticed every other shop in the strip had not yet opened so I could rightfully assume most of the vehicles owners were inside Vaughn’s. The outside of the shop gave a very manly‚ genuine feel to the shop. On the front of the building was the standard white and red striped sign‚ spinning in and endless motion
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historical percentage-of-sales accounting ratio‚ this paper forecasts next three-year earnings and financial needs of The Body Shop. Due to lack of information‚ this forecast based on some key assumptions about the relationship between sales and other accounting ratios‚ firstly forecast sales then forecast other ratios in financial statements. Sales: It is assumed that sales growth ratio will maintain at 11% next three years due to the need of increasing revenue of The Body Shop. This figure is the average
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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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Chapter 3-1 The Accounting Information System Chapter 3-2 Financial Accounting‚ Fifth Edition Study Objectives 1. Analyze the effect of business transactions on the basic accounting equation. 2. Explain what an account is and how it helps in the recording process. 3. Define debits and credits and explain how they are used to record business transactions transactions. 4. Identify the basic steps in the recording process. 5. Explain what a journal is and
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