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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brutality. Police brutality is often overlooked‚ people see it as an act of cruelty performed by “a few bad apples” in the police department. Bonnie Kristian declares otherwise in her article “Seven
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International Journals Review Jstore.org Journal Review #1 Accounting Measures of Corporate Liquidity‚ leverage and costs of financial distress. Teresa a john Synopsis: When the cost of financial distress is high in a firm that firm may maintain a large amount of its total asset as liquid asset and be careful on taking debt. This journal has talked about the relation on the financial distress the cost of corporate liquid policy and the leverage policy of the firm. Liquid asset constitute
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A. What is the difference between accrual-basis accounting and cash-basis accounting? The difference between the two types of accounting is when revenues and expenses are recorded. In cash basis accounting revenues are recorded when cash is actually received and expenses are recorded when the expenses are actually paid. B. Why would politicians prefer the cash basis over the accrual basis? The accrual basis system deals with deprecation of the value of equipment‚ land and such. Politicians would
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The End of the First Amendment This article talked about how the students of UC Berkeley were protesting against a speech being given at their school‚ and how the sponsors of this group were forced to pay $15‚000 in security fees. Then on top of that fee the school paid an additional $600‚000 to create cemented barriers and have armed forces on campus during the meeting. Personally I feel these precautions were unnecessary however due to the way students were reacting it had to be done. Another
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I chose the article “When Bs are Better‚” written by Michael E. Gordon. The main purpose for this article was to state how the student’s teachers or professors are inflating grades in the higher education programs. It mentions within the article how majority of students are no longer working hard or are getting to be lazy due to the fact that some teachers or professors don’t give grades that are lesser than a B. This is a problem because students in America will ultimately become lax and not put
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Summary on Research for Accounting Changes and Error Analysis Companies have always faced issues of how to reflect changes in accounting methods and error corrections in financial statements. A change in accounting principle results when an entity adopts a generally accepted accounting principle different from the one it used previously (Hall 2007). A presumption exists that an accounting principle once adopted shall not be changed in accounting for events and transactions of a similar type (Financial
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Accounting and Finance Management Assignment 2 Semester: 3 Prepared by: Osoba Seun Student Number: Sc-Kl-00021763 Email Address: josher4real@yahoo.com Date submitted: 17/01/2014 Question 1 Sales Budget September ($) October ($) Budgeted sales (units) 9‚500 Selling price per unit $12 Total sales 90‚000 114‚000 Schedule of expected cash collections: October ($) Account
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The article “Mythmatics” by Larry E. Buschman concentrates on the common myths that educators tend to believe about having problem-centered mathematics instruction. These myths are addressed to ensure that children are not “robbed of the opportunities to acquire important mathematical abilities‚ to practice valuable life-skills‚ and to experience the feeling of personal satisfaction and empowerment that comes from solving challenging problems” There are twelve myths addressed in the article. The
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discussed in this chapter with those faced by a buyer of an automobile. 1. Remoteness of information. It’s difficult for a user to obtain much information about either an automobile manufacturer or the automobile itself without incurring considerable cost. The automobile buyer does have
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