output‚ database/files‚ and programs that make up the system. People have their own favorite way of doing this. This is just one possible way of doing it. Your textbook discusses other techniques that you may prefer. Overview of Payroll System The payroll system keeps accurate employee data stored in an easily accessible database. The system has the ability to update and maintain employee information and to generate required outputs including paychecks‚ reports to management and reports
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Horngren‚ C.T.‚ Datar‚ S.M. and Foster‚ G. (2003) Cost Accounting - A Managerial Emphasis‚ Pearson Education‚ Inc.‚ New Jersey‚ Eleventh Edition CHAPTER 11 DECISION MAKING AND RELEVANT INFORMATION 11-1 The five steps in the decision process outlined in Exhibit 11-1 of the text are: 1. 2. 3. 4. 5. Obtain information Make predictions about future costs Choose an alternative Implement the decision Evaluate performance to provide feedback 11-2 Relevant costs are expected future costs that differ
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Chapter 1 – Introduction to Financial Accounting Learning Objectives: After studying Chapter 1‚ you should be able to * Discuss the different classifications of financial transactions * Define an equity investor and a debt investor and understand the difference * Discuss the role of the Securities and Exchange Commission * Name the Big Four accounting firms and define the term “independent auditor” * Define corporate governance * Discuss GAAP and IFRS and the concept of
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CHAPTER 1 THE ACCOUNTANT’S ROLE IN THE ORGANIZATION TRUE/FALSE 1. Management accounting information focuses on external reporting. Answer: False Difficulty: 1 Objective: 1 Terms to Learn: management accounting Management accounting information focuses on internal reporting. 2. A good cost accounting system is narrowly focused on a continuous reduction of costs. Answer: False Difficulty: 2 Objective: 1 Terms to Learn: cost accounting A good cost accounting system
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expected selling price. (iii) Dual Aspect The dual aspect concept can be defined as every transaction having a minimum of two entries into the accounting system. One represented by the assets of the enterprise and the other by the claims against it. Should there be a debit entry then there must be a credit entry as well. Due to this concept‚ the accounting equation ‘Asset = Equity + Liability’ is formed. Example: 1. Company ABC made payment of salary RM5000 by cheque to its staff. Using the dual
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Cost Accounting - Chapter 1 1. Flexibility is said to be the hallmark of modern management accounting‚ whereas standardization and consistency describe financial accounting. Explain why the focus of those two accounting systems differs. Financial accounting is more about the bigger picture—it evaluates the finances of the organization as a whole‚ using historical‚ quantitative‚ monetary‚ and factual data. It is more formal and requires the use of GAAP. The information financial accounting
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Chapter 7 pgs.182-194 The Rise of Cultural Nationalism Patterns of Education • Republican vision included enlightened citizenry‚ wanted nationwide system of free public schools to create educated electorate required by republic • By 1815 no state had a comprehensive public school system‚ schooling primary by private institutions open only to those who could pay o Most were aristocratic in outlook‚ trained students to become elite. Few schools for poor • Idea of “republican mother” to train
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14 Accounting publications and research in twentieth-century Japan1 14.1 Introduction Japan’s interest in modern accounting began in the late nineteenth century with Alexander Shand [1844–1930].2 The Japanese translation of Shand’s (1873) Bank bookkeeping proved to be so important that his system of bank accounting became legally obligatory for the newly established banking system of the Meiji era. In the same year‚ Fukuzawa (1873–74) published a Japanese translation of Bryant and Stratton’s (1871)
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Chapter 7: America Goes to War Building a National Army-Meirion and Susie Harries * Early fall of 1917 watchers near rail tracks would have seen young Americans riding to their appointed camps and cantonments * Very diverse people riding: Chocktaws and Cochin Chinese‚ Hebrews‚ Greeks‚ Italians‚ English‚ Irish‚ Scots‚ Slavs‚ Swedes‚ Germans‚ Austrians‚ Albanians‚ Poles‚ Armenians‚ Syrians‚ Finns‚ Hispanics‚ and Japanese. Blacks went on separate trains * Attracted men with all shapes
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CHAPTER I INTRODUCTION 1 Background Of The Study Processing payroll can be one of the most complex tasks facing a company. Aside from simply paying employees‚ companies will need to file taxes‚ submit reports and process year-end data for tax-reporting purposes. These problems are being encountered by several companies. The manual payroll system they are currently using calculates the payroll for each pay period entirely on paper. They will need to calculate taxes‚ over time‚ under time and any
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