between accrual-basis accounting and cash-basis accounting? The variation between accrual basis accounting and cash basis accounting‚ is how cash is documented. Cash basis is an accounting basis that is used when expenses and revenue are paid out or received. This is when the transaction will be recorded. In accrual-basis accounting‚ transactions are recorded when they actually happen. Payment does not need to be made for the transaction to be recognized in accrual-basis accounting unlike cash-basis
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Nature of Accounting and the Accounting Standard Background Accounting is an important part for business and it is dubbed “language” of business activities conducted by firms. People think it is used to communicate business transactions per se to all stakeholders. However‚ some people argue that the functions of accounting are not that easy. Except the communication tool‚ accounting acts as many other difference roles in business. When doing accounting‚ different standard may be used. There are
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Accounting Exploration To most people being an accountant means sitting in an office crunching numbers all day and having little to no people skills. This could not be further from the truth. I have only recently decided that I would like to pursue a career in accounting after spending two years as a pre-medical student and realizing that I no longer had the desire to spend another ten years in school and residency programs. Accounting grabbed my attention because it does deal with a lot of numbers
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John Brown Armstrong Black Period 8 10 September 2014 Title: Career What is a career? A career is a central part of an individual’s journey through his or her life. As a person‚ we may think back and see how much we have accomplished in our life. This journey goes back to when we were in our early school days and to where we currently are today‚ is our career so far. And as the years goes by we will see our career move on‚ often in unforeseeable directions. We’ve all hit that point
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Why would users rely on financial statements? What is an example of a financial measure that an external user might use? What is an example of a financial measure that an internal user might use? Users rely on financial statements to gauge the strength and outlook of companies. Others understand that. One would want that company to make money for them when they invest. If companies didn’t make money for you there would be no reason to buy stocks and no reason the price of a stock would ever
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UNIV/100 Career Exploration Plan Worksheet For this assignment‚ you will research the http://www.phoenix.edu website and use the My Career Plan tools on eCampus. To complete this assignment‚ follow the directions provided in each section. You may refer to the completed example in the Week 3 Materials as a guideline. When you complete each section‚ submit this document to your Week 3 Assignment 1 link on your student website. Save this document so you can reference it as you work on building
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Statements on Management Accounting PRACTICE OF MANAGEMENT ACCOUNTING TITLE Definition and Measurement of Direct Material Cost TABLE OF CONTENTS Definitions . . . . . . . . . . . . . . . . . . . . . . . . . Materiality . . . . . . . . . . . . . . . . . . . . . . . . . Material Quantities . . . . . . . . . . . . . . . . . . . Material Lost in the Production Process . . . . Samples‚ Prototypes‚ and Initial Production Runs . . . . . . . . . . . . . . . . . . 1 2 2 2 3 Unit Price of Direct Material
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Chapter 8 Non-Current Liabilities Assessment Questions AS-1 ( 1 ) Name the typical forms of non-current debt. A typical and common form of non-current debt is a term loan from a bank. Another form of ______________________________________________________________________________ non-current debt is bonds. ______________________________________________________________________________ ______________________________________________________________________________ AS-2 ( 1 ) What is a bond
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Discuss the pros and cons of accural accounting versus cash accounting methods. All discussion forums must require at a minimum: 1-Research (at least 2 citations) 2-Critical Thinking 3-Opportunity for dissent. Accrual Accounting versus Cash Accounting Ok‚ if we are to attain our career goals we need to understand these two methods of accounting. This topic is very important in almost any field that one chooses to fashion their career. Yes I have had the privilege to work
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My Dream Career Selecting a career is the most important decision in a person’s life. The Health care industry has a good future in the United States of America. According to the American Department of Labor‚ the Medical assistant is one of the fastest growing health care professions. I have always been inclined towards health care and therefore I decided to be a medical assistant. To become a medical assistant one should possess different qualities. But the most important quality is to be a very
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