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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Review of Accounting Fundamentals The Accounting Equation Assets = Liabilities + Equity Equity = Contributed Capital + Retained Earnings Retained Earnings = Beginning Retained Earnings + Net Income for the Period – Dividends Net Income = Revenues – Expenses + Gains – Losses Assets ( Probable future economic benefits obtained or controlled by a particular accounting entity as a result of past transactions or events Liabilities ( Probably future sacrifices of economic benefits
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Table of Contents Accounting Concepts and policies…………………………………………………………….. 3 – 7 Relevance of accounting concepts and policies on financial report…………….. 7 – 10 Discount allowed and received………………………………………………………………… 11 – 13 Difference between carriage inwards and carriage outwards……………………. 11 – 13 Differences between straight line and reducing balance methods……………… 11 – 13 References……………………………………………………………………………………………… 14 - 16 Introduction Accounting Concepts and Principles These are rules and
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of ideas that attain significant global social policy currency. Individual countries can both contribute to and be influenced by this process . Effect of globalization:Globalization has variety of effects‚ that are influencing almost every aspect of life‚ existence‚ as well as economic‚ industrial‚ financial‚ social area. Increase of globalization can be seen on Table1. In most of the countries given in example‚ that measure doubled or‚ as in case of Czech Republic‚ even tripled. Table1: Macro
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Document discusses few recent changes in accounting policy‚ reasons shared by company and real intentions behind the curtain. | Contents Impact analysis of changes in accounting policy 2 Suzlon returns to profits‚ with help from accounting policy 2 Impact due to change 2 What company says 2 Reliance Communications dubbed “poster child of everything wrong with Corporate India” 2 Accounting Standards subverted: 3 Indosolar Limited 3 Change in treatment of miscellaneous expenditure
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1st Assignment Behavioral Finance Course Code: 6314M0202Y University of Amsterdam Block II‚ Fall 2014 Your names: Your UvA student numbers: Chavdar Tsenev 10840974 Luis Pena Alberto Cabral Alexander Ezedin Q1 The reason for the majority of individuals choosing option A rather than B and option D rather than C has to do with misperception of probabilities. Even though according to Prospect theory people are risk averse in the gains
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1. Indian Airlines Corporation vs Sm. Madhuri Chowdhuri And Ors. on 27 May‚ 1964 The suit arose out of an unfortunate and tragic air crash at Nagpur when a Dakota air plane VT-CHF crashed soon after it started flying from Nagpur to Madras. All the passengers and the crew were killed and the only person who escaped with severe injuries and burns was the Pilot‚ Desmond Arthur James Cartner. This accident took place on the 12th December‚ 1953 at about 3-25 a.m. In that Aircraft travelled one Sunil
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Red Onion Restaurant classifies a six-month prepaid insurance policy as a current asset. Its rationale is based on: A.Materiality. B.Operating cycle. C. Definition. D. Liquidity. 22.An asset that is not expected to be converted to cash or consumed within one year or the operating cycle is: A.Goodwill. B.Accounts receivable. C.Inventory. D.Supplies. 23.Which of the following accounts are closed at the end of the accounting period? A.Allowance for uncollectible accounts. B.Unearned revenue
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Question One (a) Behavioural implication of planning: Employees know their roles. They comply with the specific method to act. Actually‚ a business need for strict measures. Top-down planning gives the management a feeling that they are controlling the quality. However‚ companies are likely to lose talent. Creative employees are hoping that someone noticed their talents‚ rather than to act in accordance with the instructions. Behavioural implication of control: The budget is completed quickly.
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Accounting Policies Introduction Within the financial statements there is a section that discloses the accounting policies used by the company for the financial year. The purpose of this will be discussed in this assignment while being applied to Morrison’s final accounts. The IASB will also be discussed; the discussion will include legislation which will show the legal requirements that the company has to keep to. It will then go on to explain why they may use those policies and who do they
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