2-1 BU8101 Accounting: A User Perspective Lecture 2 The Accounting Cycle Wednesday‚ 17 August 2011 Mrs. Ho Yin Kheng S3-01C-88 Nanyang Business School Nanyang Technological University Email: yklau@ntu.edu.sg Tel: 67905694 2-2 LO 2 Lecture Outline 1. Analyzing Business Transactions 2. Recording Process a. b. c. d. e. f. The Source Document The journal The accounts Debit and Credit rule Recording process illustrated Unadjusted trial balance 3. Adjusting entries
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structure and firms strengths and weaknesses determine their choice of corporate strategy and organisational structure  Both corporate strategy and organisational structure influence the economic performance of the firm and the market in which it sells  One of the main goals for strategy implementation is to achieve synergy between functions and business units (Hunger and Wheelen) Organisational Structure  Organisational Structure arrangement whereby the firm motivates
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One popular saying that most people know is “If you throw a dog a bone‚ expect him to bite.” With so many dog bites and attacks each year‚ it is easy to blame the dog. Pit bull attacks are the leading dog attacks in the United States. Although pit bulls can be very loving and friendly dogs‚ most people often perceive them to be vicious killers. This judgement is unfair because people do not understand why they bite. The general public needs to be better educated about pit bulls‚ such as why they
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document comprises ACC 206 Week 5 Final Paper Cost Accounting Principles of Accounting II Cost Accounting Accounting is the accumulation and aggregation of info for decision makers including administrators‚ traders‚ authorities‚ loan providers‚ as well as the general public. Accounting systems impact behavior and administration and have effects across divisions‚ companies‚ and even nations. This report will provide the reader a knowledge regarding cost accounting. This report will talk about:
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HISTORY OF ACCOUNTING LEARNING OUTCOMES Understand the history of accounting dating from prehistoric times to written record keeping. Identify the seven preconditions for the emergence of systematic book keeping. Know Luca Pacioll contributions in introducing double entry book keeping. Accounting is a tool‚ invented by humankind‚ to fulfill needs of society. Unlike the explorers of the past who discovered new lands‚ accounting cannot in any true sense be said to have been discovered
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8/2/2012 Objective of Lecture 2 CLASSIFICATION OF ACCOUNTS & ACCOUNTING EQUATION • By end of lecture 2‚ all students should be able to:(a) Understand the five categories of accounts and able to classify them into the respective categories (b) Understand the accounting equation and the relationship between assets‚ liabilities and owner’s equity. Classifications of accounts • • 1. 2. 3. 4. 5. An account is used to record all information regarding an item. The five major
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Question 1 The ethical guidelines which accountants are obliged to follow in the conduct of their work are made to combat criticism and gain credibility by preventing fraudulent accounting. Accountants ought to be able to maintain impartiality and independence to create a clear‚ credible and unbiased audit. Hence‚ the ethical principles are considered important. This is because the work of accountants requires a high level of ethics since the financial statements prepared and verified by auditors
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the advantage of hindsight‚ what advice would you have given the Enron Board to avoid the 2001 disaster? GROUP MEMBERS 1. Augustine Kupara R082559R 2. Tonderai Nyamadzawo R082987G 3. Simbarashe Chaka R089613J 4 Brighton Nzvuvu R089824H 5. Walter Danger R082990X 6. Simon Chigwanda R075968L 7. Ashley Murisa R082991Y 8. Frank Garatsa R082988H 9. Presely Nheweyembwa R076037L 10. Peter Donald R055241G 11. Shingirayi Gwete R089773H BACKGROUND Enron Corporation was
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------------------------------------------------- Subject: Managerial Accounting Case 1 Seligram In the Seligram case‚ the existing cost accounting system measured two components of cost: direct labor and burden. All burden cost‚ which is the overhead‚ was grouped into a single cost pool and was calculated only by using a burden rate per direct labor dollar. This may cause problems since direct labor and overhead are not consumed by the products in the same proportion. Simply using the same burden
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Business law bs 311 | Unit 5 Case Study | Millie vs. Frank | | Joia Webb | 9/25/2012 | | “Millie contracted to sell Frank 10‚000 bushels of corn to be grown on Millie ’s farm. Due to a drought during the growing season‚ Millie ’s yield was much less than anticipated‚ and she could deliver only 250 bushels to Frank. Frank accepted the lesser amount but sued Millie for breach of contract. Can Millie defend successfully on the basis of outcome impossibility of performance? Explain”
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