material of a company uses to make a product. Investment are assets companies like individuals can own securities such as stock and bonds. While capital assets is also called plant assets which is permanent things that a company owns‚ use within the business and are not items that the company sells such as land‚ building‚ equipment and vehicles. Intangible assets are like patents copyrights and other nonmaterial assets that have value. Liabilities are anything that a company owes to people businesses
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Application of Accounting Concepts Matching Principle & Accrual Concept Accrued / Prepaid Expense & Accrued or Advance Revenue To ensure an accurate matching of expenses and revenue under the accrual basis‚ it is necessary to include all revenue earned but not received and expenses incurred but not paid. Such adjustments comprise adjustments for : Accrued Revenue Accrued Expenses On the other hand‚ many recorded costs and revenues benefit more than one accounting period. Therefore‚ adjusting
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TABLE OF CONTENT 1. MERCHANDISING BUSINESS a. Examples b. New Account on Income Statement c. Income Statement of Merchandising Business 2. DIFFERENCE: MERCHANDISING‚ MANUFACTURING & SERVICE RENDERING BUSINESS a. Service Business b. Merchandise Business c. Manufacturing Business 3. RECORDING SYSTEM OF MERCHANDISING BUSINESS a. Perpetual Inventory System i. Journal Entries 1. Purchases 2. Sales 3. Inventory Shrinkage Loss b. Periodic Inventory System i. Journal Entries 1. Purchases
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ACCOUNTING Some basic knowledge about accounting: - Accouting is a study of the concepts and techniques used in such reporting. - Accounting information serve for each entity with particular task: Taxing authorities‚ stockholders‚ workers and potential employess‚ … - Definition of accouting: the art of recording‚ classifying‚ summarizing‚ interpreting. 1. Fields of accounting ❖ Based on recording methods: Accounting information is deal with in 2 systems: + single entry
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The Structure of a Business Decision Executive Summary The Nakamura Company of Kyoto‚ Japan is famous for making quality and for middle class lacquer containers for the daily table. The company started selling the product under the brand Chrysanthemum which eventually became the leader in the market. The product became famous with the American GI’s after the World War 2 back when Japan was under rehabilitation with assistance of the United States. Aside from the purchases made by the GI’s
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Outline and Briefly Explain the Federal Court System The U.S. has a dual court structure. To be exact‚ we have a federal judiciary system and the systems that are operated by each of the states. This dual court structure is a unique feature of the American judicial system. Although most cases are tried in state courts‚ the federal court is playing a larger and larger role in finding resolutions to disputes. Partly‚ this is because congress in recent years has enacted a range of new laws that grant
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includes overview of these exercises: C: 9-35 Allocation of Precontribution Gain Solution C: 11-45 Use of Losses by Shareholders Solution C: 10-4 Discussion C:11-47 Problem Post-Termination Loss Use Solution Business - Accounting Complete the problems found in Ch. 9‚ 10‚ 11 of Federal Taxation 2010: Corporations with your Learning Team . C:9-32 Problem – Partnership Income and Basis Adjustments (Ch. 9) C:11-37 Problem – Determination of Pass-Throughs and
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Reprinted in the Best American Science Writing 2004‚ edited by Dava Sobel. HarperCollins‚ 2004) On Explaining Science 1. The question is not "should" you explain a concept or process‚ but "how" can you do so in a way that is clear and so readable that it is simply part of the story? 2. Use explanatory strategies such as . . . - Active-voice verbs Use the Active Voice . .
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Explaining hypertension to a 63-year old man with an 8th grade education: Hello sir‚ the doctor wanted me to come in and talk to you for a minute. I understand that u have just been diagnosed with hypertension. I want to make sure you understand what that is and what goes along with it. Hypertension is just our fancy word for high blood pressure. Blood pressure is the amount of pressure that your blood is putting on the walls of your arteries. Now most people don’t even realize they have high
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References: Elliot‚ B.‚ & Elliot‚ J.‚ 2004. Financial accounting and reporting. London: Prentice Hall. Goodyear‚ L. E.‚ 2009. Principles of Accountancy. Cedar Rapids‚ Iowa: Goodyear-Marshall Publishing. Lewis‚ M. K.‚ 2001. Islam and accounting. Oxford: Wiley-Blackwell.
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