E4-3. The following control procedures are used in Elke Company for over-the-counter cash receipts. 1. Cashiers are experienced; thus‚ they are not bonded.Internal Control Weakness: There is a higher chance of theft with more experienced cashiers. Change: Cashiers should be bonded experience or not experienced. 2. All over-the-counter receipts are registered by three clerks who share a cash register with a single cash drawer.Internal control weakness: Disorganization and interference may
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United States Accounting Standards vs International Accounting Standards June 21‚ 2009 Introduction This research project will inform the reader of the difference between the United States accounting standards and International accounting standards. The United States uses the Financial Accounting Standards Board (FASB) to issue financial reporting procedures. The International Financial Reporting Standards (IFRS) are issued by the International Accounting Standards Board (IASB)
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DECISION MAKING. Objectives‚ Terms‚ and Discussions LO1 Explain the role of incremental analysis (analysis of incremental costs and revenues) in management decisions. INCREMENTAL ANALYSIS All decisions involve a choice among alternative courses of action. The solution to all business problems involves incremental analysis—the analysis of the incremental revenue generated and the incremental costs incurred when one decision alternative is chosen over another. Incremental revenue is the additional
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Chapter 1: The Accounting Environment – What is Accounting and Why is it Done? Accounting is a system for gathering data about an entity’s economic activity‚ processing and organizing the data and in turn‚ communicating that information to people who want to use it to make decisions. Data are unprocessed facts about an entity’s economic activity that is entered into an accounting system whereas information results from organizing and presenting the data in ways that make it useful for decision
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Concept of Accounting ✓ Definition of Accounting ✓ Development of Accounting Standard ✓ Purpose of Accounting ✓ Nature and Characteristics of Accounting ✓ Accounting as a Language of Business ✓ Distinction between Accounting and Bookkeeping ✓ Financial Accounting Vs Management Accounting ✓ Accounting Practice in Bangladesh ✓ Accounting Profession in Accounting Field ✓ Accounting Ethics ✓ History of Accounting
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MBA 607 – Financial Accounting The Nature and Purpose of Accounting Accounting Purpose and Process 1 MBA 607 – Financial Accounting The Nature and Purpose of Accounting 1. The Need for Accounting Information 2. The Accounting Profession 3. Financial Statements Accounting Purpose and Process 2 MBA 607 – Financial Accounting 1. The need for Accounting Information A. Framework Stakeholders (creditors‚ shareholders‚ regulators) in an entity require quantitative information on the financial
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1. Several types of entities provide financial information to a variety of external users. Our primary focus in this book is on the financial information that profit-oriented companies provide to present and potential investors and to creditors. These profit-oriented companies also provide financial information that is used by financial intermediaries such as financial analysts‚ stockbrokers‚ mutual fund managers‚ and credit rating agencies. Not-for-profit organizations also provide financial
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LabChart Training Course Note Two modules of LabChart training were attended: Level I: The Basics of Data Acquisition Level II: Improve Your Data Analysis In Level I‚ we were guided to set up PowerLab and LabChart unit. Generally‚ an overview of the PowerLab hardware and how it connects to pc/laptop were demonstrated‚ and then individual practiced once to connect and select the right channels. ∎ Selecting the number of recording input channels that are required for certain experiment ∎
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PROs of GALAXY Note 3 and GALAXY Gear. 1. It has a great camera. This Galaxy Note 3 contains a camera with a 13 megapixel rear camera. The speciality of it is that it has a smarter stabilisation and high CRI Led Flash which enable the users to capture an outstanding image of every visual stories of their everday life no matter in low light or active situation. In short‚ with this fabulous camera‚ everyone now can capture all those beautiful moments of their life. 2. It has an expandable storage
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OPERATIONS MANAGEMENT 1. Supplier Us Customer Raw materials Transforming Work in progress inventory Transformation Finished goods inventory Customer Codex 25000D1‚ 18 dollars (Notes and Problems). Assignment 1‚ 2 make for 15%. Midterm make for 35% and the Assignment 3 for 10%. Finals make up for 40%. Assignments handed in at the beginning of sessions 5‚ 7 and 12. Value added: Inputs Transformation process Outputs. How do we increase value to the product. A lot of things
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