The lecture last night discussed accrual accounting concepts such as timing issues‚ and the basics of adjusting entries. The discussion went into more detail on periodicity assumption and how accounting divides the economic life of a business into artificial time periods. These time periods are generally a month‚ a quarter‚ or a year‚ now whether it is a fiscal year or a calendar year that is determined by the company itself. The lecture then reviews the revenue recognition principle which expects
Premium Generally Accepted Accounting Principles
Week One Exercise Assignment Basic Accounting Equations 1. Recognition of normal balances The following items appeared in the accounting records of Triguero ’s‚ a retail music store that also sponsors concerts. Classify each of the items as an asset‚ liability; revenue; or expense from the company ’s viewpoint. Also indicate the normal account balance of each item. a. Amounts paid to a mall for rent. b. Amounts to be paid in 10 days to suppliers. c. A new fax machine purchased for
Premium Accounts receivable Balance sheet Liability
1- Explain the collecting‚ recording‚ classifying‚ summarizing‚ analyzing and reporting process of accounting. - Collecting:- Data obtained from various sources with the help of appropriate measures is called collection of data. - Recording:- Arranging the data into its chronological form is called recording of data. - Classifying:- Division of data according to nature of events is called classification of data. - Ledger is used for classifying transactions - Posting
Premium Generally Accepted Accounting Principles Balance sheet Accounts receivable
CHAPTER 11 DECISION MAKING AND RELEVANT INFORMATION SHORT‐ANSWER QUESTIONS 11‐1 The five steps in the decision process outlined in Exhibit 11‐1 of the text are 1. Identify the problem and uncertainties 2. Obtain information 3. Make predictions about the future 4. Make decisions by choosing among alternatives 5. Implement the decision‚ evaluate performance‚ and learn An example of interdependencies include absenteeism/low employee morale and increased labour costs. 11‐2
Premium Variable cost Costs
ELEC4614 Power Electronics School of Electrical Engineering & Telecommunications University of New South Wales ELEC4614 - Power Electronics Solution of Tutorial 1 - Basic Concepts in Power Electronics Question 1. (a) Vd VT 300 I T Rds 200 A This neglects the on-state voltage drop of the R 1.5 switch. This is only acceptable when the on-state voltage is small compared to the DC supply voltage Vd (= 300V in this case). t During turn-on time‚ vT (t ) Vd 1 ; again neglecting
Premium 2007 1965 1984
automation is a looming threat‚ and some counter that threat with a concept called Universal Basic Income‚ or UBI. UBI aims to provide a source of livable income to those who generally cannot work. In relation to automation‚ UBI would cover costs that low-skill workers (now automated) depended on. But is UBI a step in the right direction? Most see too many variables to attempt reaching an answer. For all intents and purposes‚ Universal Basic Income will
Premium Human Blade Runner Do Androids Dream of Electric Sheep?
Basic Concepts on Fraction Fraction – is defined as a part of a whole. In some other books‚ it is defined as a number written in the form ab ‚ where “a” and “b” are numbers and “b” is not equal to zero. Basic Parts of a Fraction * Numerator – the number above tells how many parts are taken. * Denominator – the number below tells how many equal parts the whole is divided. * Fraction bar – line that separates the two numbers. It also indicates division. There are several kinds
Premium Elementary arithmetic Division Number
E2.5. Classifying Accounting Items a. Current asset b. Net revenue in the income statement: a deduction from revenue c. Net accounts receivable‚ a current asset: a deduction from gross receivables d. An expense in the income statement. But R&D is usually not a loss to shareholders; it is an investment in an asset. e. An expense in the income statement‚ part of operating income (and rarely an extraordinary item). If the restructuring charge is estimated‚ a liability is also
Premium Generally Accepted Accounting Principles Balance sheet Asset
CS 11 Handout Outline I Basic computer concepts A Definition of a computer B Number systems and conversion C Types of programming languages Program Development Cycle A Problem Identification B Logic Formulation C Coding D Testing and Debugging E Storage and Maintenance Program Logic Formulation A Algorithms B Algorithm Representation 1 Flowchart 2 Pseudocode Programming Fundamentals A Data Types B Variables and Constants C Operators D Expressions Control Structures A Sequential B Conditional C
Free Computer Decimal Programming language
Biohome Concept Statement People affected by biochemical components‚ specifically radiation‚ zinc‚ and lead being released into the air‚ soil and most importantly water because of an Earthquake is a disaster where people could be forced to live in a temporary or emergency shelter. The focus for these shelters will be to accommodate the physical‚ psychological and sociological needs for people in search of housing. An emphasis on maintaining a sense of self‚ social and cultural identity will
Premium The Unit Sense Circle