within maintaining the integrity of the profession; * Having in place a robust disciplinary system for those who fail to comply with this standards BY-Laws; * To enhance the status of members. Question 2: Briefly explain the following users of accounting information: Question 2(a): Shareholders (2marks) Answer 2(a): Any person‚ company‚ or other institution that owns at least one share in a company
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The formation of the debit and credit concept In this simplified form we can begin to see what the mathematician and Father of Accounting (Luca Pacioli) saw in 1494 when he codified the double-entry bookkeeping system. It is his codified system that outlined the rules for applying debits and credits when recording the financial transactions of a business in the double-entry bookkeeping system. Now remember that Luca’s book in 1494 was written and published in Latin and at a time when the concept
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COURSES > ACCOUNTING FOR GOVERNMENTAL AND NONPROFIT ENTITIES:‚ 15/E- WILSON > CONTROL PANEL > POOL MANAGER > POOL CANVAS Pool Canvas Add‚ modify‚ and remove questions. Select a question type from the Add Question drop-down list and click Go to add questions. Use Creation Settings to establish which default options‚ such as feedback and images‚ are available for question creation. Add !"#$%&#’()*+%‚’ Creation Settings Name Chapter 06 Accounting for General Long-Term Liabilities and Debt Service
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Comparing Accounting Software Programs to Manual Accounting Manual accounting uses several paper ledgers to record financial transactions. It is very time consuming to record each single transaction onto paper‚ being very cautious not to make an error. There are several ledgers for each part of the accounting system‚ such as accounts payable‚ accounts receivable‚ and revenue accounts. Combining these ledgers into one general ledger‚ provide the balance for each ledger. The general ledger
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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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ACCOUNTING SUBSTANCE OVER FORM Substance over form is an accounting concept where the entity is accounting for items according to their substance and economic reality and not merely their legal form. It is one of the key determinants of reliable information. For most transactions there will be no difference and in some cases however‚ the two diverge and the choice of how to present the transactions can give very different results. This differences occurs when an asset or liability is not recognized
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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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practical experience in different types and categories ‘Tax System’ especially Tax System of Bangladesh. During our working period‚ we tried to gather information from different sources like News Paper‚ web sites. But the NBR does not provide information in the web site directly and even it does not publish tax structure which is implemented in Bangladesh . So‚ we have taken much information about tax on the basis of our personal concept and view of Tax System of Bangladesh. To complete this report‚ we
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ASSIGNMENT on Income Tax Authorities in Bangladesh [pic] National Board of Revenue – NBR Rajashwa Bhaban Segunbagicha‚ Dhaka Telephone: +88 02 933-3444. http://www.nbr-bd.org National Board of Revenue (NBR)
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1) Managerial accounting has its focus on analyzing and providing cost information within the company internally so that its management can plan‚ operate and control the company more effectively. In contrast‚ financial accounting has its focus on the financial statements which are distributed to external stockholders‚ lenders‚ financial analysts‚ and others outside of the company‚ as mentioned by (K.A. Francis‚ n.d.) Knowledge in management accounting will allow Anne Radhika to have knowledge of
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