accounts‚ see details in Appendix B. 7. Tag AR‚ Allowance for Bad Debts and AP as Control Accounts. 8. Tag Cash on Hand‚ Cash in Bank – BPI and Cash in Bank – Metrobank as Cash Accounts. 9. Setup banks and house banks for Metrobank #9000 with bank code of 101010‚ branch 1111 and account number of 9000 and BPI #1100 with bank code of 200300‚ branch 2222 and account number of 1100. 10. Setup Cash in Bank – Metrobank as the default bank for Outgoing Payments. 11. Setup Input Tax and Output Tax at 12%
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footnote on the financial statements. The full disclosure principle is a helpful tool to establish how the financial information is reported on the financial statement. This paper will discuss the full disclosure principle and the information necessary to disclosure on the financial statements. The paper will converse about the changes to full disclosure principle and the consequences for disclosure of fraudulent information. What is the full disclosure principle in accounting reporting? According
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Running Title: Full Disclosure Principle Full Disclosure Principle Full Disclosure Principle Full disclosure plays an important role in the preparation of a company or business financial statements. Full disclosure benefits the user‚ company‚ or business. This principle tries to prevent companies or businesses from provided their user with false or over stated financial information about the company or business financial position. This essay will discuss
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INTRODUCTION "Inventory" to many business owners is one of the more visible and tangible aspects of doing business. Raw materials‚ goods in process and finished goods all represent various forms of inventory. Each type represents money tied up until the inventory leaves the company as purchased products. Likewise‚ merchandise stocks in a retail store contribute to profits only when their sale puts money into the cash register. In a literal sense‚ inventory refers to stocks of anything necessary
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I. INTRODUCTION Statement of Cash Flow (Cash Flow Statement) describes the changes in the cash position of a company during specific period of time. In business as in personal finance‚ cash flows are essential to solvency. Solvency can be described as the degree to which the current assets of an individual or entity exceed the current liabilities of that individual or entity. Cash flow is crucial to an entity’s survival. Having ample cash on hand will ensure that creditors‚ employees and others
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Likelihood of financial difficulties Its 2012 current ratio and quick ratio are 1.93 and 0.75 respectively. Its 2013 current ratio and quick ratio are 1.75 and 0.69 respectively. This suggests the company is still healthy in terms of carrying cash and cash equivalents‚ even though its current liabilities have increased in 2013. Its Income before Income Tax for 2013‚ 2012‚ and 2011 are $2‚093‚162‚ $1‚897‚352‚ and $3‚059‚187 respectively. There is no significant trend of lowering income. Large amount
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Written Disclosure As a Relevant Factor of Resilience and Meaning Finding Giovanni Serrato Parra Australian College of Applied Psychology Abstract The current study explored the hypothesis related with the writing disclosure and its correlation with meaning finding and resiliency that for consequences ends in positive emotions. The study was conducted with 153 students over the same class and divided randomly into two groups; control group‚ which was compared
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True False 2. At the time of a credit sale‚ a company would record an increase in assets and an increase in revenues. True False 3. A sale on account is recorded as a debit to revenue and a credit to accounts receivable. True False 4. Accounts receivable represent the amount of cash owed to the company by its customers from the sale of products or services on account. True False 5. Trade discounts represent a discount offered to the purchasers for quick payment. True False 6. When
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What are any related physical or money flows. The Order to cash process starts by receiving the sales order from the customer. Here‚ Fitter and snacker is our company which manufactures snack bars of two types – NRG A (advanced energy) and NRG B (Body building proteins). We have received an order to deliver 10 cases of NRG B bars to our client West hills athletic club from the storage location 300. The further process of order to cash in fitter and snacker is described as below: SALES ORDER
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CHAPTER 9 ACCOUNTING FOR RECEIVABLES SUMMARY OF QUESTIONS BY STUDY OBJECTIVES AND BLOOM’S TAXONOMY Item SO BT Item SO BT Item SO BT Item SO BT 5 5 5 5 9 9 1 3 K AP K K K K K K 113. 114. 115. 116. 117. 118. 119. 120. 121. 122. 123. 124. 125. 126. 127. 128. 129. 130. 131. 132. 133. 134. 135. 136. 137. 4 4 5 5 5 5 5 5 5 5 5 5 5 5 5 5 6 6 6 6 6 6 7 7 8 K K K AP AP AP AP K K K C
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