21. General-purpose financial statements are the product of a. financial accounting. b. managerial accounting. c. both financial and managerial accounting. d. neither financial nor managerial accounting. 22. Users of financial reports include all of the following except a. creditors. b. government agencies. c. unions. d. All of these are users. 23. The financial statements most frequently provided include all of the following
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IMPACT OF TECHNOLOGY ON THE ACCOUNTING PROFESSION - A STUDY OF A CPA FIRM’S DISASTER RECOVERY PLANNING Stanley X. Lewis‚ Jr.‚ Troy University Eddy J. Burks‚ Troy University Ernest W. King‚ University of Southern Mississippi Carl Smolinski‚ LSU-Shreveport ABSTRACT The results of an ongoing study of professional accounting firms in the U. S existing research methodology and results included in the 2006 IRMA International Conference reporting the strategic planning by a law firm pertaining to its disaster
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IMPACT OF INFORMATION TEHNOLOGY ON CORPORATE GOVERNANCE AND FINANCIAL REPORTING 1.0 INTRODUCTION The introduction of the computer and advent of the Internet has changed the way we live in the modern world. This spans across every aspect of human life. Modern innovations have led to the description of the age in which we live as “the Information age”. Information technology and management therefore plays a vital role to the extent that timely access to Information could save a life while improper
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or profit/(loss) from the investments belong to entity Y. Elements of financial statementsThe elements of financial statements 53 Entity X should not recognise the listed shares as its asset even though it is in posses- sion of the shares. Entity X does not control the investment’s future economic benefits. Benefits from the investments flow to entity Y and entity X earns a trustee fee for holding the shares regardless of how the shares perform. The listed shares‚ therefore‚ do not meet the criteria
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wages related to qualified production activities income. • Question 3 1 out of 1 points During the current year‚ Violet‚ Inc.‚ a closely held corporation (not a PSC)‚ has $130‚000 of passive loss‚ $90‚000 of active business income‚ and $70‚000 of portfolio income. How much is Violet’s taxable income for the current year? Answer Selected Answer: $70‚000. Correct Answer: $70‚000. Response Feedback: A closely held corporation that is not a PSC can deduct passive losses against
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1.Compare to New England‚ Chesapeakes society. 2.Of the estimated 11 million slaves carried to America the great majority were sent were?. 3.The English rehearsal for settlelement in the New world by colonizing were?. 4. To resolve the problem of the vast expenses New World settlement required‚ English merchant-capitalists introduced the. 5.Indentured Services: 6. Puritan dissenter Roger Williams established the colony of 28) ______ A) Connecticut. B) Rhode Island. C) Maryland.
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an event involving four plane crashes in a single day and the targets were the World Trade Center in New York and the Pentagon. It was a very tragic event and it affected the thoughts of people‚ especially who were close relatives and acquaintances that were killed in the incident. It immediately changed the history of the United States. Since the first plane crash on the World Trade Center (WTC)‚ it was already known that America was under attack. This was believed to be the doing of Al-Qaeda‚ an
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Financial statements are the basic statements that summarize the financial activities of a business and are prepared by businesses to indicate the financial steadiness of the business to investors‚ creditors‚ and other external entities (McGraw-Hill Higher Education‚ 2009). The income statement is a representation of the revenues and expenses for a specific period of time in a business. Its purpose is to detail the revenues‚ expenses‚ and net income or loss. A net income is the result of revenues
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LAUNDERING BY CITIBANK OFFICIAL. PAGE | CONTENT | 3 | An overview of Citibank | 3;4 | Summary of the scandal | 5;4 | How did the scandal happen | 5;6 | Firm’s negligence and how the malpractise was hidden | 6;7 | Impact on customer and bank | 7;8 | Avoid repeat of such money laundering cases | 8 | The role of institutions | 9 | References | OVERVIEW Citibank‚ an international bank was founded in 1812 on June the 16th by a group of New York merchants
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Definition of Financial Management According to Dr. S. N. Maheshwari‚ "Financial management is concerned with raising financial resources and their effective utilisation towards achieving the organisational goals." According to Richard A. Brealey‚ "Financial management is the process of putting the available funds to the best advantage from the long term point of view of business objectives." Functions of Financial Management Functions of financial management can be broadly divided into
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