Statement of Purpose for Master’s in Administrative Studies at Metropolitan College‚ University of Boston. I am applying for admission to the Master’s in Administrative Studies program in the Metropolitan College‚ University of Boston‚ because I want a career in the research and teaching of management. Also I have the eagerness to learn and execute innovative methods of well-organized / resourceful management as well as possess competent Computer and Communication skills. In particular‚ I am interested
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whether these expenses have been paid in cash or not in that year. The same holds true for revenues‚ i.e.‚ revenues earned in a specific accounting period are construed as incomes of the same period‚ irrespective of their receipts. This concept is also known as the accrual theory of accounting or accrual accounting. This concept applies equally to revenues and expenses. In the accrual basis of accounting Revenue is recognized when it is realized‚ that is‚ when the sale is complete or not. Similarly
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STATEMENT OF PURPOSE “A dream acted upon by confidence becomes an ambition and that when followed with determination defines the purpose of existence in its entirety” It is with a sincere sense of gratitude towards the opportunity given to me‚ I pen down this statement. Education not only expands the horizons of one ’s knowledge but also simultaneously implants an insatiable desire to acquire more and more knowledge. Knowledge is that which can enhance the strength of mind and thereby
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Revenue recognition is a very important component of financial accounting and reporting. The accounting principles governing revenue recognition can have a big impact on corporate accounting and the way contracts are structured with customers. As a part of ongoing discussions to converge U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS)‚ some proposals to change revenue recognition have been discussed. The following will discuss revenue
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payments. In fact‚ she does all the record keeping just by using a ballpen and a columnar sheet. This study aims to develop a Local Area Network-Based Enrollment with Billing System which may help to reduce human errors and processing time‚ thus it can boost productivity and results into high quality of work produced. It can also lessen the workload and can provide accurate information needed by the school. As a result‚ it will benefit not only the students but the administration as well. The proposed
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Financial Reporting and Analysis – ACG6175 Date: 5/18/09 Revenue Recognition Problems in the Communications Equipment Industry 1 – In late 2000‚ Lucent announced that revenues would be adjusted downwards by $679 million as a result of revenue recognition problems. Yet the firms market capitalization plummeted by $24.7 billion. Why do you think the market reacted so negatively to Lucent’s announcements of the problems? There is usually a grey zone between aggressive accounting‚ which
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CHAPTER-I FINANCIAL STATEMENTS LEARNING OBJECTIVES After studying this chapter‚ you will be able to: • Explain the meaning of financial statements of a company; • Describe the form and content of balance sheet of a company; • Prepare the Balance Sheet of a company as per Schedule VI Part I of the Companies Act 1956. • Know the major headings under which the various assets and liabilities can be shown. • Explain the meaning‚ objectives and limitations of analysis using accounting
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activities in different fruit juices Aim: To investigate the protease activities in different fruit juices Background info: Fruit such as pineapple‚ kiwi fruit‚ papaya and guava contain proteases (in different amounts)‚ which can speed up the breakdown of proteins. As milk-agar plate is a milk protein‚ so when it is incubated with fruit juices containing proteases‚ the milk protein will be broken down and clear zones will appear around the wells containing different fruit juices. Thus‚ the higher the
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Revenue Recognition: Case Study on Caltron Computers‚ Inc. Julie Mong April 17 ‚ 2010 1. In general‚ evaluate Caltron’s revenue recognition policy and the quality of Caltron’s earnings. Caltron Computers‚ Inc.‚ a computer hardware company‚ is publicly held with market capitalization amounting to over $450 million. Carlton’s system designs enable their mini-computer systems to measure up to the power of mainframes with small cost outlays. The accounting practices
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project and released an exposure draft named Revenue from Contracts with Customers. This exposure draft emphasizes the status of revenue in assessing financial statements and states that revenue is conclusive in assessing a company’s operating situation and developing prospects. This statement has a profound influence on accounting industry and has lead to a wide range of comments and criticizes. The purpose of this essay is to discuss the above statement by using some theories of accounting. The essay
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