CONTROL ACCOUNTS AND ITS USES INTRODUCTION: As the business grows in size‚ more than one ledger is required for recording its transactions which have also expanded with the business. Since the bulk of the entries are made in the accounts of debtors and creditors‚ these two classes of accounts are taken out of the General Ledger and put in separate ledgers - the Sales Ledger for debtors’ accounts and the Purchases Ledger for creditors’ accounts. There may be more than three ledgers but for simplicity
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CHAPTER 6 Objectives Identify different types of long-term operational assets. Determine the cost of long-term operational assets. Explain how different depreciation methods affect financial statements. Determine how gains and losses on disposals of long-term operational assets affect financial statements. Explain how expense recognition for natural resources (depletion) affects financial statements. Explain how expense recognition for intangible assets (amortization) affects
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To: Finance Director Subject: Short report of review on sustainability disclosure There is a growing trend among companies to disclose and report their social and environmental impacts not only concerned with the financial performance of a company but its impact on society and environment. Thus‚ sustainability becomes an important issue. Sustainability is the capacity to endure and is the long-term maintenance of responsibility‚ which included environmental‚ economic‚ and social dimensions. It
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Non-compete or non-disclosure agreements are very common amongst big corporations and many businesses. Its purpose is to restrict employees or former employees of a business from disclosing company information or enter in a similar profession with specific regulations such as a certain distance within the former business or a competitor business. These kind of contracts make sense when it comes to higher up positions within a company but as of recently the controversy has risen about big corporations
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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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MUSIC - Disclosure ft. Lorde‚ “Magnets” After their massive success at their debut album‚ Settle‚ and with singles like “Latch” and “White Noise‚” brothers Guy and Howard Lawrence collectively known as the famed Disclosure has been able to join the ranks of EDM royalties and be known as one of the hottest artist to emerge in the summer of 2013 and continue to do so two years after. As such‚ the sophomore album is only in order in which they have come to finally release just before the month of
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BANK ACCOUNT: A bank account is a financial account which tells you details or records of all the financial transactions that occurs between bank and the customer and also the financial state of the customer after that. There is a process of opening an account which is as follow: 1. The Type of Bank Account which you wish to open: There are following types of accounts like fixed deposit account‚ saving account and the current account. You choose any of them according to your need. 2.
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Survey of Various types of Bank Accounts‚ rate of interest offered Mr. Pinto (name changed on request) of Axis Bank Limited of Nerul Branch was very co-operative when I visited their branch and introduced myself as a 10th Std. student of Ryan International School‚ Nerul and inform my purpose of visit of carrying out a survey on various types of bank accounts available and commonly used in India. He offered me a place to sit and called for water and request to give him some time to complete his
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Chapter-V Accounts Receivable Management • Introduction • Goals of Receivable Management • Credit Management • Optimum Credit Policy • Credit of Account Receivable 155 Introduction Accounts receivable represent the amount due form customers (book debts) or debtors as a result of selling goods on credit. “The term debtors is defined as ‘debt’ owned to the firm by customers arising from sale of goods or services in the ordinary course of business.” The three characteristics of
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specific & general criminal liability basics. Retrieved from http://www.lectlaw.com/mjl/cl052.htm Chow‚ A. (2012‚ March 5). What does your state ’s hiv disclosure law require?. Retrieved from http://blogs.findlaw.com/blotter/2012/03/what-does-your-states-hiv-disclosure-law-require.html unaids. (2012‚ February). Criminalisation of hiv non-disclosure‚ exposure and transmission: background and current landscape. Retrieved from http://www.unaids.org/en/media/unaids/contentassets/documents/document/20
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