DIPLOMA IN FINANCIAL ACCOUNTING INTRODUCTION TO FINANCIAL ACCOUNTING 1A SUPPLEMENTARY EXAMINATION November 2010 THIS PAPER CONSISTS OF 5 PAGES | DURATION: 2 hrs TOTAL MARKS: 150 PASS MARK: 50% INSTRUCTIONS TO CANDIDATES: 1. Read the following instructions CAREFULLY before answering the paper‚ as failure to act upon them will result in a loss of marks. 2. Please be neat – illegible handwriting cannot be marked. 3. The assessment must be written in either black or blue ink
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First of all I would like to thank the Almighty Allah for giving me the power‚ and the ability to complete this report. I am sincerely grateful to my course teacher‚ mentor‚ and counselor Kashfiya Afrin for assigning me such an interesting topic “Financial System and Auditing “. I also obliged to these following people. Md.Jashim Uddin Finance department MD. Masud Rana Accounts Officer This report provides an evaluation of different of accounting record‚ importance and meaning
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Chapter 2--Job Order Costing Student: ___________________________________________________________________________ 1. Cost accounting systems are used to supply cost data information on costs incurred by a manufacturing process or department. True False 2. A manufacturer may employ a job order cost system for some of its products and a process cost system for others. True False 3. A job order cost accounting system provides for a separate record of the cost of each particular quantity
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Audit Objectives: a. Determining that cash on hand as shown in the general ledger is represented by currency and coins on hand. b. Determining ownership and proper accountabilities c. Ascertaining that cash balances are available without restrictions. Audit Procedures: a. Examination of cash proof sheets and tracing of their totals to the general ledger b. Test tracing of deposit or withdrawal slips to individual subsidiary ledgers and vice
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2. 4. Readers get the impression that this new society is still in the settling-in period by having Alma‚ Janine‚ Dolores‚ Moria‚ and June are in training to becoming Handmaids (4). Offered mentions that the quote that is mentioned in question fourteen for section one. Offred mentioned that she learned to whisper and touch each other’s hands across space (4). Offred also mentions that the first time that she meets the Commander’s wife was five weeks ago when Offred first arrived at this posting
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My Career Choice in Accounting Introduction I didn’t really choose accounting to begin with. When I was in high school I wanted to be a vet‚ but as time went on‚ I discovered that I have the right skills to be an accountant and not to be a vet. Here is my story and how I decided upon accounting as my career of choice. As a woman‚ I was always told that I was predisposed to being bad at math. This may be why I always tried harder at math because it did not want to be pigeon holed as just another
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Kudler Fine Foods‚ My team and I would like to present you with new accounting system. We feel that Kudler could benefit from a newer redesigned accounting system. Being in control of your finances is the most important part of any business. With managing three stores there can be a lot of transactions to keep account of. Three stores with three very different transactions every day‚ these transactions can consist of incoming sales‚ store outside purchases‚ inventory‚ payroll‚ etc. To keep three
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Accounting Estimate • Accounting estimate – An approximation of a monetary amount in the absence of a precise means of measurement. This term is used for an amount measured at fair value where there is estimation uncertainty‚ as well as for other amounts that require estimation. PSA 540 9 The auditor shall review the outcome of accounting estimates included the prior period financial statements‚ or‚ where applicable‚ their subsequent re-estimation for the purpose of the current period. The nature
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1. I think that Alden need to establish a policies and procedures manual which would inform employees; a. Of the type of source documents individuals must use to record inventory. b. Include the accurate procedures to organize back up data for these documents. c. An inclusive description of the person in charge and responsibility assigned to each person. d. A chart of accounts that is expresses an explanation of each general ledger account so that staff record
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ACCOUNTING ENVIRONMENT Learning Outcomes At the end of this chapter the students should be able to: Explain the meaning and purpose of accounting Describe the role of accounting as a information system Describe why accounting is considered as the language of business Assess the impact of external environmental factors on accounting Introduction Accounting has evolved and emerged as most other fields of human activity in response to the social and economic needs of society
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