1. In an accounting information system‚ which of the following is NOT a transformational process? a. collecting data b. analyzing data *c. performance reporting d. summarizing data 2. Which of the following is NOT a process associated with an accounting information system? *a. auditing existing data b. collecting and recording data c. providing information to users d. analyzing and managing data 3. In an accounting information system‚ the inputs are usually a.
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Budget and Responsibility Accounting Budget Meaning Budget is a financial and/or quantitative statement‚ prepared and approved prior to a defined period of time‚ of the policy to be pursued during that period for the purpose of attaining a given objective. * CIMA Official Terminology It is a plan quantified in monetary terms‚ prepared and approved prior to a defined period of time‚ usually showing planned income to be generated and/or expenditure to be incurred during that period
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LEAN ACCOUNTING: BEST PRACTICES FOR SUSTAINABLE INTEGRATION "Costs do not exist to be calculated. Costs exist to be reduced.” – Taiichi Ohno‚ father of the Toyota Production System Lean Accounting-It is simply the application of lean principles to the accounting and associated functions within the enterprise. The idea is simple‚ but the application is not obvious within the framework of traditional accounting systems. Lean Accounting was born in the early 90’s through the experiences
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ETHICAL ISSUES IN MANAGERIAL ACCOUNTING The aim of this paper is to highlight in the light of the empirical researches conducted previously the presence of ethical issues and dilemmas in managerial accounting. The implications of which can be disastrous bringing colossal giants crumbling to their knees. The prime aim is to throw light at the subtle inconsistencies that can cost the companies far more than just money but their entire image. The asset of ‘good will’ has its nemesis in these unethical
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Abstract The purpose of this assignment is regarding to accountants‚ a professional career‚ meant to be very important to corporation or public because it is the base that offers great support to management for planning‚ controlling as well as decision making process. As far as people is concerned‚ accountants as information keepers and produce financial reports to stakeholders face major ethical challenges such as misrepresenting or misstatements in financial statements etc. However‚ accountants
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accounting standards accounting standards Introduction to Accounting Standards Accounting is the art of recording transactions in the best manner possible. Accounting Standards are the policy documents issued by recognized expert accountancy bodies relating to various aspects of measurement‚ treatment and disclosure of accounting transactions and events. Every country has its own standards. Accounting Standards in India are issued by the Institute of Chartered Accountants of India (ICAI)
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Accounting is the collection and aggregation of information for decision makers including managers‚ investors‚ regulators‚ lenders‚ and the public. Accounting systems affect behavior and management and have affects across departments‚ organizations‚ and even countries. This paper will give the reader an understanding about cost accounting. This paper will discuss: Why is cost accounting so important to the success of the firm; what are the various methods of cost accounting and how are they used;
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Edita Mercado Su Jane Acct 301 FASB Codification Assignment 3/13/2013 Professional Research: FASB Codification A. Identify relevant Codification section that addresses transfers of receivables. The relevant codification section that addresses transfers of receivables is the following: FASB ASC 860-10-05-15. C. Provide definitions for the following: 1) Transfer: The conveyance of a noncash financial asset by and to someone other than the issuer of that
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1.1 Value Chain Analysis Applied to the Timber and Timber Products Industry. Exhibit 1.A below contains a depiction of the value chain. The links in the value chain are as follows: 1. Timber Tracts: Plant and maintain timber tracts (Weyerhaeuser) 2. Logging: Harvests timber (Weyerhaeuser) 3a. Sawmills: Cut timber into various grades of wood (Weyerhaeuser) 3b. Pulp and Paper Manufacturing: Grinds timber into pulp and converts the pulp into various grades of paper and
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Problem 4.4A Preparing Adjusting Entries from a Trial Balance The Off-Campus Theater adjusts its accounts every month. Below is the company’s unadjusted trial balance dated July 31‚ 2002. Additional information is provided for use in preparing the company’s adjusting entries for the month of July. (Bear in mind that adjusting entries have already been made for the first seven months of 2002‚ but not for July.) OFF-CAMPUS THEATER Unadjusted Trial Balance July 31‚ 2002 Cash $ 16
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