ledger a.a chronological record of all transactionsb.the balance of each account in the chart of accountsc.budget records for each account in the chart of accountsd.subsidiary details supporting a control account 2. Which steps in the Financial Accounting Process are in the correct sequence based on closing the accounts and determining timing differences prior to issuing financial statements a.record the transaction‚ post to the ledger‚ prepare the adjusted trial balance‚ enter adjusting entries
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While throughput could signify high efficiency of the production line‚ it does not mean the company is profiting. By using the term as it as defined in The Goal‚ throughput would be showing the rate in which the production line is producing sales and therefore more clearly defines potential successes. Jonah then defines inventory as‚ “all the money that the system has invested in purchasing things which it
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A. What is the difference between accrual-basis accounting and cash-basis accounting? The difference between the two types of accounting is when revenues and expenses are recorded. In cash basis accounting revenues are recorded when cash is actually received and expenses are recorded when the expenses are actually paid. B. Why would politicians prefer the cash basis over the accrual basis? The accrual basis system deals with deprecation of the value of equipment‚ land and such. Politicians would
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Goals Essay My goal is to obtain a career where I can work with my hands and mind to solve problems. I have narrowed my choices down to two main options‚ Mechanical Engineering and Engineering Technologies. To obtain these goals‚ I must set a track. The Process of deciding to pursue a career as an Engineer was not an easy one‚ but that process has helped me define my career goal‚ be realistic about what I want ‚ and plan thoughtfully about how to reach my goals. To help me narrow down my choices
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employees is fair. In most cases when a union is involved‚ there is a percentage of compensation that has been agreed upon. 1.7) Financial accounting (i) Management accounting (h) Financial reporting (g) Financial statements (f) General-purpose assumption (b) Integrity (c ) Internal control (e) Public accounting (d) Bookkeeping (a) 2.3) Amber Company’s assets total $150‚000 and its liabilities total $85‚000. What is the amount of Amber’s
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Homework Week 2 Exercise E1-1 SEC – K Audit – G Sole Proprietorship – I Corporation – E Accounting – A Accounting Entity – D Audit Report – J Cost Principle – F Partnership – C FASB – L IASB – H Unit of Measure – B GAAP – N IFRS – M E1-2 Accounts receivable – Asset Cash and cash equivalents – Asset Net sales – Revenue Notes payable – Liability Taxes payable – Liability Retained earnings – Stockholders’ Equity Cost of products sold – Expense Marketing‚ administrative
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Everyone should have goals when they are striving to achieve a specific task. A good example of when goals are important to have is when people attend college. Therefore‚ I have developed three personal goals that I consider important in achieving during my time here at the University of Phoenix. First is the goal of meeting other people that have the same careers that I do. Secondly‚ I would like to diversify myself using education‚ thus making me a better rounded individual. Third‚ and finally
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CHAPTER 2 21. Generally accepted accounting principles a. are fundamental truths or axioms that can be derived from laws of nature. b. derive their authority from legal court proceedings. c. derive their credibility and authority from general recognition and acceptance by the accounting profession. d. have been specified in detail in the FASB conceptual framework. 22. A soundly developed conceptual framework of concepts and objectives should a. increase financial statement users’
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Nursing Specializing in Leadership and Management Personal/Professional Goals My life’s experiences over the past several years have made me wiser. To be a more successful and productive individual‚ I find it necessary to further my education by obtaining a Master’s Degree in the Science of Nursing. I also find it necessary to help build upon my career accomplishments. Now I am more grounded to realize and achieve this goal. Currently‚ I am employed as a Cardiology Manager of a growing Cardiology
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My Personal Goals Every successful person has a list of values‚ visions‚ and goals. I live by my values‚ make decisions with my visions in my mind‚ and set goals that will help me reach my life visions. These three elements take me to places I want to be in life. These elements reflect achievement goals and performance goals. “Achievement goals reflect the purpose of an individual ’s achievement pursuits and two general types have been proposed: mastery and performance. When pursuing mastery
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