1. What was the Kanthal president‚ Ridderstråle‚ attempting to accomplish with the Account Management System? Are these sensible goals? Ridderstrale had the objective to find hidden profits and losses contained in their current accounting system. The old system did not fully disclose how their costs were applied to the sales accounts. The goals are very sensible as they will allow them to move forward with the proper information. 2. Why did Ridderstråle feel that the previous cost system
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partnership agreement provided as follows: (a) Interest at the rate of 10% per annum is to be allowed on the partners’ Capital Account balances. (b) Interest on drawings was to be calculated at 4% per annum. (c) Top was allowed a salary of RM400 per month. (d) Interest on partner loan was 6% per annum. Trial Balance As At 31 December 2009 RM Capital : Top : Middle Current Account : Top : Middle Drawings – Middle (1 October 2009) Loan from Top Furniture and Fittings (cost RM50‚000) Premises Debtor and
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Emotional Bank Accounts We all do things that are counter-productive to our relationships. We all like to have people be nice to us. The concept of an emotional bank account is powerful‚ yet not quite as simple as keeping a ledger of debits and credits. One of the problems is the perception of worth. What is a “deposit” worth. We may think it is quite valuable. The affected person may consider it so routine it is not even remembered. The trick in making deposits is to know what value the
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Q. How Will You treat ‘ packing expenses on sales’ in final accounts? Ans. It is an indirect expense‚ therefore‚ it should be shown in the Profit & Loss Account. Adjustments at a Glance Sl No. Adjustments Adjustment Entries Treatment in Final Accounts 1. Closing Stock Closing Stock A/c Dr. To Trading A/c a. Credit side of Trading A/c. b. Show on the assets side of B/S 2. Outstanding or unpaid expenses Expenses A/c Dr. To Outstanding exp. a. Add to the
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Second‚ check the inventory account. After we sort and count the inventory‚ we want to make sure that whether our accounts are correct. And then we have to options‚ first the account has some mistake‚ and then fix the account. Second‚ the account has no mistake; we can do the next step. Third‚ check the sale account‚ after we make sure that the inventory’s account is correct. We should check the sale account. Affirm the entire bill was in that account. Whether some people take the goods
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Theory of Accounts 1. The fundamental qualitative characteristic of faithful representation has the components of a. Predictive value and confirmatory value b. Comparability‚ consistency‚ and confirmatory value c. Understandability‚ predictive value‚ and reliability d. Completeness‚ neutrality‚ and freedom from error 2. The amount reported as “Cash” on a company’s balance sheet normally should exclude a. Postdated checks that are payable to the company b. Cash in a payroll account c. Undelivered
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Marlo Thomas Capella University Unit 1 Assignment 1 Article Review 1 February 24‚ 2013 As corporations globalize‚ they face many financial challenges. The major challenges faced by the Global CEO is giving corporations a powerful mechanism for arbitrage across national financial markets as capital markets open up with them while managing their internal markets to build an advantage. CFOs have to balance opportunities‚ the long-established questions
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of a culture is based upon stories or myths passed down from generation to generation. Every culture has a variety of myths about the way life came to be. These creation myths tell the tales of how human kind came to be and how they looked when they got here and their relationship with nature and the world around them. The two creation myths that are the most opposing are the Judeo-Christian and the Native American myths. The creation myths tell two polar opposite stories about how human kind came
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I’m reaching out to you in regards to your past due account. I whole heartedly feel I have worked very hard for you and your company from the very beginning of our business relationship. We have never missed an event and if ever there was a mistake on our part we fixed it right away. When you had an urgent need Hasty Awards did everything in our power to help. Currently the account is past due $8250 and‚ the last update I received from Paula‚ was there has been no communication from you or anyone
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Reflective Account – Use of A Diary System In our team we have a duty rota. The details of which are entered and used in a diary system each person is scheduled in for a day of duty on a rotational basis. I enter this into an outlook diary/calendar every 6 months. I have to check individual personal diaries first to check that the dates I enter for them do not clash with appointments that they already have booked in‚ also taking into account annual leave. Once I know what prior appointments
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