| ACCOUNTING PRINCIPLES | | | Meaning of Accounting Principle | | Principle means a general law or rule adopted or professed as a guide to action ‘a settled ground or a basis of conduct or practice’. The word ‘Principle’ when applied in accounting may have different meanings in different contexts. It is not used in the sense of a fundamental accounting truth – it connotes a guiding influence or an accepted rule of action or conduct. Accounting principles have been defined as the body
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Part I. A. Generally Accepted Accounting Principles. GAAP is not a fixed set of rules. It is a guideline or more precisely a group of objectives and concepts that have evolved over 500 years from the basic concepts of Luca Pacioli set forth in the 1400s. It governs how financial statements are prepared and presented in the United States. The Financial Accounting Standards Boards (FASB)‚ the American Institute of Certified Public Accountants and the Securities and Exchange Commission (SEC)
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The firm of Anderson‚ Olds‚ and Watershed is pleased to receive your notification to proceed with the audit and look forward to working with you. From the Audit Committee meeting minutes‚ we understand that Apollo Shoes requires help with the yearly audit because the former CPA firm withdrew unexpectedly (University of Phoenix‚ n.d.). Anderson‚ Olds‚ and Watershed will conduct the audit and “prepare the state franchise tax returns as well as the federal tax returns” (University of Phoenix‚ n
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Generally Accepted Accounting Principles September 2‚ 2013 NUR/571 Generally accepted accounting principles (GAAP) is the term “used to describe the body of and requirements that shape the preparation of the four primary financial statements (Cleverley & Cameron‚ 2007).” These statements include the balance sheet‚ the statement of revenues and expenses‚ statement of cash flow‚ and statement in changes of net assets (Cleverley & Cameron‚ 2007). These statements track financial information and
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1) Explain what is meant by the term pseudoscience used in paragraph 1? The word pseudoscience by definition means a theory that is claimed to be factual or scientific but has insufficient evidence to prove so. In paragraph one the term pseudoscience is used in reference to physiognomy which is being able to tell someone’s character from their face. It is said in the article that physiognomy was “written off as pseudoscience.” After it became associated with phrenology which is referred to as a pseudo
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As part of our audit process‚ we will request from Tesla Motors‚ written confirmation concerning representations made to us in connection with the audit. We will issue a written report upon completion of our audit of Tesla Motor’s financial statements. Our report will be addressed to the board of directors of Tesla Motor’s. We cannot provide assurance that an unmodified opinion will be expressed. Circumstances may arise in which it is necessary for us to modify our opinion or withdraw from the engagement
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With the first round of HIPPA Audits behind us‚ the Office of Civil Rights (OCR) indicated back in March that it would finally launch the long-awaited round 2 of HIPAA audits in 2016. As we near October and the end of the ICD-10 grace period‚ physicians and practices should be prepared for a busy end to the year. The Audit Mandate As an extension of the HITECH Act‚ which became effective on February 18‚ 2009‚ the audit mandate exposed health care providers that must adhere to HIPAA regulations
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Q#01 Tell me about your post in company‚ what’s your work. Ans. I’m an HR Officer and my responsibilities are: * Monitor daily attendance * Maintain records and compile statistical reports concerning personnel-related data such as hires‚ transfers‚ performance appraisals‚ and absenteeism rates. * Develop and maintain HR Database * Hunting Human Resources * Provide advice and assistance to supervisors on staff recruitment * Prepare notices and advertisements
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and other references have been acknowledged. or Signed …………………. ……………………. Date ……………. Final Submission Grading Criteria Task Number Outcomes Assessed Grading Criteria Achieved P6 Explain the principles and effects of radiation therapy and the equipment used. M4 Explain
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Introduction I am analysing the accounts of Pumpkin Patch for the year ended 31st of July 2011. This report is prepared for Patrice who is considering purchasing shares from Pumpkin Patch. Pumpkin Patch was established in New Zealand in 1990 and is known for its reputation for fashionable childrenswear. Pumpkin Patch now has developed itself further internationally with retail stores in New Zealand‚ Australia‚ UK‚ Ireland and the United States. Liquidity The current ratio of Pumpkin
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