Accounting Policies are the specific policies and procedures used by a company to prepare its financial statements. These include any methods‚ measurement systems and procedures for presenting disclosures. Accounting policies differ from accounting principles in that the principles are the rules and the policies are a company’s way of adhering to the rules. Revenue Recognition: Revenue recognition determines the accounting period‚ in which revenues and expenses are recognized. General Mills
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TOPIC 1: ACCOUNTING BASES‚ POLICIES‚ AND CONCEPTS ACCOUNTING BASES - These are the methods used for applying fundamental accounting concepts to financial transactions and items‚ preparing financial accounts‚ determining the accounting periods in which revenue and costs should be recognized in the profit and loss account‚ and determining the amounts at which material items should be stated in the balance sheet. - Examples of accounting bases include: Methods of calculating depreciation Methods
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The importance of following company policy’s and accountability Accountability is important and should not be taken lightly. So many reasons accountability is important. Knowing where your soldiers are at all times helps to know what they’re doing‚ and what their interest are doing so. In case something happens and someone needs to know where a soldier is accountability comes into play. A good leader should always have accountability for their soldiers but it starts on the lowest level. Anything
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Analysis of the Accounting Policies of PepsiCo as compared to Coca Cola Year-end December 31‚ 2001 Prepared for Robin Webb‚ G. D. Meyers and Company Allison Heiland‚ Angela Heyroth‚ Robin Tieman FBD I Section 4 O b 17 2002 Analysis of Accounting Policies EXECUTIVE SUMMARY In investigating PepsiCo’s accounting policies for G. D. Meyers and Company‚ we have focused on nine major areas of the annual report‚ comparing PepsiCo with Coca Cola throughout our analysis. Through the Balance
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Human Resources Accounting in Infosys VALUING HUMAN RESOURCES QUESTIONS FOR DISCUSSIONS Q1. By early 2000‚ many companies in India had started valuing their human capital and reported the same in their balance sheets and other financial statements. Briefly explain the concept of valuation of human resources and compare the various models available for human resources accounting. Ans: HRA involved identifying‚ measuring‚ capturing‚ tracking and analyzing the potential of
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1. Accounting Analysis Assess the degree to which the firm’s accounting reflects the underlying business reality. Identify accounting distortions and evaluate their impact on profits and the sustainability of profits. Financial statements are used to determine the business activities of a firm and the role of accounting analysis is to determine the accuracy and quality of the information provided. This analysis would look into the degree of its accounting figures captures its business reality through
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A STUDY OF ACCOUNTING OF BANKING COMPANIES SUBMITTED IN PARTIAL FULFILLMENT OF REQUIREMENTS FOR THE AWARD OF MASTER OF BUSINESS ADMINISTRATION AND MASTER OF BUSINESS LAWS [pic] UNDER THE ABLE GUIDANCE OF PROFESSOR Dr. GAJENDRA MEHTA FACULTY IN CHARGE‚ PRINCIPLES OF ACCOUNTING BY Iftekhar anees M.B.A.‚M.B.L SEMESTER I NATIONAL LAW UNIVERSITY‚ JODHPUR. August‚ 2006 BONA-FIDE CERTIFICATE Certified that this study paper is the bona fide work Dr. Gajendra Mehta‚ Faculty
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of unearned revenue would be 1.Prepaid Expense - A year long insurance contract a company paid $12‚000 for at the beginning of the year. Since the insurance company owes the company service‚ the expense prepayment is recorded as an asset Journal Entries: debit Prepaid Insurance and credit Cash). 2. Unearned Revenue - A year long subscription of $12‚000 is received in advance by a magazine company. Because the company owes something‚ the unearned revenue is recorded as a liability. 3. Non-cash: These
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Anti-Harassment Policy XYZ Company is committed to a work environment in which all individuals are treated with respect and dignity. Each individual has the right to work in a professional atmosphere that promotes equal employment opportunities and prohibits unlawful discriminatory practices‚ including harassment. Therefore‚ XYZ Company expects that all relationships among persons in the office will be business-like and free of bias‚ prejudice and harassment. It is the policy of XYZ Company to ensure
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Company Email Usage Policies Abstract Any time a company allows employees access to their email system‚ the organization ’s assets‚ future and reputation are at risk (techtarget.com‚ 2004). As a result it is important that a company email policy be created and implemented. This policy will include: the purpose of emails‚ the ownership of emails‚ email usage‚ sensitive and confidential materials‚ prohibited content in emails‚ virus checking archiving emails and violations to the email policy. The
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