USIU BUS 3010 BUSINESS LAW LAW AGENCY NOTES AGENCY LAW The law of agency in Kenya is basically that of the English Common Law. It deals with the relationships that arise when one person‚ the agent‚ is used by another‚ the principal‚ to perform certain tasks on his behalf. CREATION OF THE AGENCY RELATIONSHIP Agency may be created in four ways namely‚ i. By contract ii. By Ratification iii. By Estoppel iv. By operation of the law Agency by Contract This may either be by express contract
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The basic accounting concepts have defined the conception of the preparation of financial statements and the process of preparation in the UK is well regulated. But financial accounting requires a fair amount of flexibility in some certain areas‚ so the need of judgements and estimations for accounts preparers is demand. Meanwhile it leaves a significant approach in accounting treatments. For example‚ when organizations decide which of several inventory valuation methods to utilize; managers make
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ACCOUNTING NOTES FOR MY PERSONAL USE 4/12/2013 ELISHA VERIWA | Introduction to Accounting Accountancy is the process of communicating financial information about a business entity to users (stakeholders) such as shareholders and managers (Elliot‚ Barry & Elliot‚ Jamie: Financial accounting and reporting). Accounting has been defined as: * the art of recording‚ classifying‚ and summarizing in a significant manner and in terms of money‚ transactions and events which are‚ in part at least
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Master of Business Administration- MBA Semester 1 MB0041 – Financial and Management Accounting Q1. Accounting is one of the oldest‚ structured management information system. Give the meaning of accounting and book keeping? Explain the objectives of accounting? ANS. Meaning of Accounting- The systematic and comprehensive recording of financial transactions pertaining to a business. Accounting also refers to the process of summarizing‚ analyzing and reporting these transactions. The financial statements
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Marketing in Travel and Tourism July Assignment Andreea Florina Tancau ID: 11727 Table of Contents Trailfinders – introduction 2 Task 1 2 A 2 B 4 C 4 Task 2 5 A 5 B 5 C 6 Task 3 6 A 6 B 7 Task 4 7 A 7 Fig 4.1 Integrated marketing communication 8 B 9 References 10 Trailfinders – introduction Trailfinders is a tourism agency‚ founded by Mike Gooley‚ a former SAS officer. It dates from 1970. At the beginning‚ the company had four employees but because of a successful
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CHAPTER-I Profile of Ace Travels Pvt. Ltd 1.1 Introduction The uniqueness of Nepal with its panoramic natural beauty and its rich cultural heritage has attracted many people to this country. It is a multicultural‚ multilingual and naturally gifted country. Nepal’s diversity attracts tourists. Its physical uniqueness offers a wide scope of activities that range from visiting jungle resort camps to trekking in snow-capped mountains. Tourism is important to Nepal as a source of foreign exchange and
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Introduction of Agency Theory The specific definition of the theory based on the sources investorword.com and investopedia.com defined that the agency theory is a theory explaining the relationship between principals such as shareholders and agents. It is essentially involves the cost and way of resolving the conflicts between the principals and agents and change the something slightly to the correct position and decision related to the two group of conflict. Thus‚ the main objective of agency theory is
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Chapter 5 Accounting for Merchandising Operations Chapter Summary Merchandising Operations • A merchandising company is an enterprise that buys and sells goods to earn a profit. • Measuring net income for a merchandising company is the same as for a service company through matching of expenses with revenues. • In a merchandising company‚ the primary source of revenue is the sale of merchandise‚ which is called sales revenue or sales. • Expenses for merchandising
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Chapter 1 Financial Accounting and Accounting Standards Intermediate Accounting‚ 15th Edition Kieso‚ Weygandt‚ and Warfield 1 Financial Statements and Financial Reporting • Goals or purpose of (financial) accounting – Identification‚ measurement‚ and communication of financial information about – An economic entity to – Interested Parties (internal and external) • Creditors‚ managers‚ unions‚ government agencies Financial reports (statements) & notes 2 Financial Statements
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Chapter 10 Strategy and the Master Budget Cases 10-1 Emerson Electric Company © Joseph San Miguel‚ reprinted with permission. 10-2 LetsGo Travel Trailers (Source: “LetsGo Travel Trailers: A Case for Incorporating the New Model of the Organization into the Teaching of Budgeting‚” by Sally Wright‚ Cases from Management Accounting Practice‚ Vol. 14‚ Montvale‚ NJ: Institute of Management Accountants‚ 1998). Note that part 2 of this case requires the use of Excel. 10-3 Building Processes
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