What is book keeping? Book-keeping is mainly concerned with the recording of financial data relating to business operations in a significant and orderly manner. It is that branch of knowledge which guides us how to keep a record of financial transactions. The need for maintaining a record of income and expenditure in a significant and systematic manner has given birth to the subject of book-keeping. It is difficult for a businessman to remember all receipts and payments that take place during
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NON-MERCHANDISE PAYABLES Adding New Vendors Must attach copy of invoice (coded with account and cost centre‚ signed by authorizing manager‚ and stamped by finance rep) Exceptions: FLEX‚ SORD‚ and utility invoices Check vendor ID in PeopleSoft to ensure that it does not already exist For proper names (i.e. John Doe)‚ use the first three letters of the last name and then the first three letters of the first name for the vendor ID (i.e. DOEJOH) Complete and mark all applicable fields on the
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DRIVE PROGRAM SEMESTER SUBJECT CODE & NAME BK ID CREDITS MARKS ASSIGNMENT WINTER 2013 MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2/ PGDBAN2 1 MB0041 FINANCIAL AND MANAGEMENT ACCOUNTING B1624 4 60 Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme. Q.No Questions Marks Total Marks 1 Give the classification of Accounts according to accounting equation approach with
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I need you to write an article on what you understand by Bank Reconciliation and under this topic I also want you to discuss about COMPARING THE BANK STATEMENT TO THE CASH and how to HOW TO DO A BANK RECONCILIATION...minimum of 2pages The procedure of comparing the account balance by the bank with that of the company’s book of accounts and explaining any discrepancy is bank reconciliation. The discrepancy in the balances may be due to the different timing of registering the data in the bank’s
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Summer 2013 Master of Business Administration- MBA Semester 1 MB0041 – Financial and Management Accounting - 4 Credits (Book ID: B 1624) Assignment- 60 marks Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme. Q1. Accounting is one of the oldest‚ structured management information system. 10 marks Give the meaning of accounting and book keeping? Explain the objectives of accounting
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Bookkeeper ’s Hiring Test Basic Test Payroll Option Depreciation Option Inventory-Perpetual Option Test Name: AIPB Hiring Test Test Form: 5 Test Points: 25.00 _________________________________________________ Name: ________________________________ Date: _________________ [1]BASIC BANK01 - BAT 003 Which of the following statements is true? A. An asset account is increased by a credit B. An expense account is increase by a credit C. A revenue account is decreased by a credit D. An equity
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Case 4.2 Comptronix Corporation identifying inherent risk and control risk factors Mark S. Beasley Frank A. Buckless Steven M. Glover Douglas F. Prawitt it was 9:30 A.M. on a monday morning when the call came through. "hi dr mitchell‚ do you have a minute? "sure" the professor replied "i am on of your former students‚ but if you don ’t mind‚ i would prefer to remain anymous. i think it is best for both us if i not reveal my name or my company to you. i am concerned that the
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Date :2 Jun 2013 Account Number :00000064015058812 Branch :SAGAR Name :SARVOTHAM TRADERS PROP : GANAPATI S NAYAK Corporate Address : S N NAGAR SAGAR KARNATAKA-577401 Balance as on 1 May 2013 :-7‚56‚533.09 Drawing Power Limit :900000.0 :900000.0 Account Statement from 1 May 2013 to 31 May 2013 Txn Date Value Date Description Ref No./Cheque No. Branch Code 40136 Debit 22‚000.00 Credit Balance -7‚78‚533.09 01/05/2013 01/05/2013 WITHDRAWAL TRANSFER-- TRANSFER TO 64034274692 Mr.
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Case No. 2: Pharmagen Pharmaceutical Development Funding According to the Accounting Standards Codification‚ the funding arrangement between Pharmagen (Pharma) and the private equity investor (PEI) would be applicable under the Research and Development Arrangements standard (ASC 730-20). This standard provides guidance for entities that are entered into a research and development (R&D) arrangement who acquire the results of research and development through the entire or partial funding by others
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