is called revenue and any reduction in it termed as a loan. In fact‚ it is the direct outcome of Realization Concept (already discussed) and the Accounting Period concept. In a way‚ realization concept has been split up into two parts‚ namely‚ production of economic goods or rendering of economic services‚ and realization of due revenue. Any uncertainty about any of the two elements beyond what is considered uncontrollable will not permit the accountant to treat the money value
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The accruals and going concern concepts are regarded as fundamental in the preparation of financial statements. Discuss the advantages and disadvantages of these concepts‚ explaining the reasons why these concepts may be difficult to apply or may be inconsistent with other concepts. Accounting statement and records are a periodic summary of account activity within a period and the documentations involved in the preparation of it (Thomas and Ward‚ 2012: 4). They are done based on a set of rules developed
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Four contingencies of reinforcement: 1. Positive Reinforcement Purpose: Serve to strengthen desired behavior Method/How: Gives bonus or present that is powerful and durable‚ praise Essential Element: Correct timing and consistency (Directly after the desired behavior) Example: Teach child correct manners Consideration: Modifications in behavior should equal to the reinforcement 2. Punishment Purpose: Decrease inappropriate behavior Method/How: Can carry out through 1)
Free Motivation Reinforcement Geert Hofstede
The lecture last night discussed accrual accounting concepts such as timing issues‚ and the basics of adjusting entries. The discussion went into more detail on periodicity assumption and how accounting divides the economic life of a business into artificial time periods. These time periods are generally a month‚ a quarter‚ or a year‚ now whether it is a fiscal year or a calendar year that is determined by the company itself. The lecture then reviews the revenue recognition principle which expects
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Case 13-08 Accounting for a Loss Contingency for a Verdict Overturned on Appeal Facts of the Case The scenario that present this case is a company faces litigation. I have to surmise how this liability will be reported as well as the resulting effects on the financial statements in the years presented. I will present some facts of this case‚ and by these facts I will resolve the primary accounting which in my opinion it could accrued the liability‚ disclose the liability or count it as immaterial
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and how to achieve efficient facility utilization‚ thus minimizing facility footprint. It is a tool used to develop and implement site-specific solution necessary to successfully acquire‚ maintain‚ optimally utilize‚ and dispose of shore assets. It allows planners to locate surplus facilities that may be appropriate to help satisfy other identified facility deficiencies‚ in order to enhance efficient utilization of existing assets and to improve mission capability. The first slide shows how the
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Memo Date: July 15‚ 2015 To: M International From: Team 17 Re: Accounting for a Loss Contingency for a Verdict Overturned on Appeal M International and W Inc. have been engaged in long-standing litigation over a specific patent infringement matter. Pertains to the accounting for this contingency loss‚ this memo has made the following conclusions: 1. For the year-end December 31‚ 2007‚ financial statements‚ M should record $17 million as a liability. 2. M should adjust its liability for the year-end
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MODULE BASIC CONCEPTS OF POLYHEDRONS This module will introduce to you basic ideas about polyhedrons. It will help you determine the surface of polyhedrons. It will also explain to you regular polyhedrons‚ its classifications and how to construct it. Learning Goal This module is written for you to: 1. Define polyhedrons; 2. Identify and illustrate the surface of polyhedrons; 3. Determine convex polyhedrons; 4. Determine regular polyhedrons; and 5. Construct regular polyhedrons.
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proctors. This is to confirm the student identification as well as to assure the exam result is the reflection of student’s effort throughout the learning course prior to the exam. 2. What criteria are necessary for an appropriate proctor? Basic requirements for proctor are mentioned in University Catalog in Chapter 5 Academic Regulations‚ Proctor Exams: be responsible‚ respected adults‚ such
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CS 11 Handout Outline I Basic computer concepts A Definition of a computer B Number systems and conversion C Types of programming languages Program Development Cycle A Problem Identification B Logic Formulation C Coding D Testing and Debugging E Storage and Maintenance Program Logic Formulation A Algorithms B Algorithm Representation 1 Flowchart 2 Pseudocode Programming Fundamentals A Data Types B Variables and Constants C Operators D Expressions Control Structures A Sequential B Conditional C
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