payments are carried out without the use of physical cash. Payments will range from a list of options such as cheques‚ wire transfers‚ debit and credit cards‚ online transactions‚ and mobile banking. The advantages of a cashless society are enormous; from regulating‚ controlling‚ and securing the financial system of any economy. The Central Bank of Nigeria‚ led by its Governor Sanusi Lamido Sanusi‚ has put forward a policy requiring that all cash withdrawals and deposits be set at a daily limit of
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during the same time period Solo also stole and additional approximate of $333‚000 from the petty cash fund of the company. “Solo had exclusive control over the company’s petty cash fund and although the actual petty cash fund never exceeded $1‚000‚ Solo had multiple checks prepared that were $3‚000 or more. After cashing the checks‚ purportedly for the petty cash fund‚ Solo replenished the petty cash fund‚ but kept the excess funds for himself” (Chief Financial Officer Plead Guilty). Additionally
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character’s passive income level to where it exceeds the character’s expenses. The winner is determined in the second stage‚ "the fast track". To win‚ a player must get his or her character to buy their "dream" or accumulate an additional $50‚000 in monthly cash flow. In place of “score cards”‚ there are financial statements. The game requires the players to fill out their own financial statements so that they can see more clearly what is happening with their money. It generally shows how assets generate
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payments. 2. Which of the following statements is CORRECT? a. If you have a series of cash flows‚ each of which is positive‚ you can solve for I‚ where the solution value of I causes the PV of the cash flows to equal the cash flow at Time 0. b. If you have a series of cash flows‚ and CF0 is negative but each of the following CFs is positive‚ you can solve for I‚ but only if the sum of the undiscounted cash flows exceeds the cost. c. To solve for I‚ one must identify the value of I that causes
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Shop Sales • Jersey Sales • Socks Sales • Honorarium What control measure have you got in place in the keeping of the ledgers? • There needs to be internal control over the cash flow of the business. • When money is received‚ it should be recorded in the source documents (cash register roll‚ cash receipts) and cash journals immediately. • The club manager must sign off on all payments made. • A trial balance must be drawn up at the end of EACH month to see if any irregularities have occurred
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Case Study Two Name Accounting and Finance 02Feb2011 Dear President of LJB Company‚ (1) If the LJB Company should decide to become a publicly traded company‚ a few internal controls should be implemented to comply with the Sarbanes-Oxley Act (SOX). * Management will need to provide periodic quarterly reports to evaluate the effectiveness and reliability of LJB’s internal controls over financial reporting procedures. * Management should certify the accuracy and fairness of presentation
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677.75 Assumptions: • The change in incremental cash flow can be examined through looking at the factors causing change in operating income – in this case only the lease cost is different. • The interest repayments are a cost of capital‚ rather than a cost of operating‚ and are accounted for in the $6.5 million as a perpetuity outflow of $504‚000 giving a present value of $5‚750‚000. They are therefore not included in the incremental cash flows. 2. TSI values HDC as (5 x EBITDA - debt)
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company is currently inviting application for the following position to fulfill its immediate requirements: Position: Executive‚ Accounts & Finance Job Location: Factory‚ Mouchak‚ Gazipur Major duties & responsibilities: 1. Prepare monthly petty cash statement and submit report to Head Office. 2. Ensure all factory bill payment. 3. Check factory wages & overtime sheet and send those to Head Office. 4. Monitor and arrange monthly production report from production department and share it with
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Assignment Expectations: A – C All assignments: * Must be in narrative form with appendices. These should be written in a businesslike manner using the role ascribed to you in the case. If no role is detailed‚ then assume the role of consultant. * The reports should include appendices which should be labelled clearly as to content and sequentially numbered. The pages should be numbered and the reports should be addressed to the client who has hired you. Do not address the client or
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1. The majority of people lie to their employers from time to time. | | | | | Completely true | | | Mostly true | | | Somewhat true/false | | | Mostly false | | | Completely false | | | 2. | How much time per day do you think the average employee with Internet access at their desk surfs the net in an unauthorized manner? | | | | | 0-15 minutes | | | 15-30 minutes | | | 30-60 minutes | | | 60-90 minutes | | | 90-120
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