PRINCIPLES OF ACCOUNTING(POA)/ACCOUNTING FOR MANAGERS(AFM) Basic Accounting Concepts & Terminologies ACCOUNTING- DEFINITION Accounting means the various technical activities performed by accountants‚ including financial accounting‚ bookkeeping and management accounting. Accounting is considered to be as old as money. However in 1494 Lucas Fra Pacoili‚ an Italian Merchant is universally regarded as the father of modern system of accounting or double entry system of accounting. Accounting has been
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1. In an accounting information system‚ which of the following is NOT a transformational process? a. collecting data b. analyzing data *c. performance reporting d. summarizing data 2. Which of the following is NOT a process associated with an accounting information system? *a. auditing existing data b. collecting and recording data c. providing information to users d. analyzing and managing data 3. In an accounting information system‚ the inputs are usually a.
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lender or investor. To obtain funding‚ you need to convince a lender / investor that your business is more than a hobby. You need to demonstrate that you have a firm grasp of your business‚ the accounting practices that impact your business‚ the controls needed to safeguard assets‚ and which accounting system will produce accurate and relevant financial information. Write a six to eight (6-8) page business plan in which you: 1. Describe the type of business you have created including: a. The
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Unit 9 Final Project: Integrity in Accounting “In 2001 and 2002 corporate giants like Enron‚ Global Crossing‚ and WorldCom were forced to declare bankruptcy‚ and massive accounting and other irregularities were revealed… In response to the public outcry that ensued‚ the [Sarbanes-Oxley] Act was enacted” (Lander‚ 2004‚ p. 1). Officials feared that because of these scandals in the financial reporting industry that investor confidence would be lost‚ which would cause the economy to deteriorate.
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1 * Germany 2 * Japan 2 Hofstede’s cultural dimensions 2 Accounting Practices predictions 3 Opacity Impacts on Business Investments 4 Limitations in Financial Reports‚ with respect to Ratios and Accounting Practices 4 Conclusion 5 Recommendations 5 Appendix 6 Appendix 1 – Development factors of UK‚ Germany and Japan 7 Appendix 2 – Hofsted’s social dimension model 9 Appendix 3 – Gray’s Accounting Values 9 Appendix 4 – Strength and Weaknesses of Hofstede’s Model 11
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asylum applications to be processed. Father Remzi Diril‚ fondly known as Father Adday‚ is the only Chaldean Catholic priest who is authorized to perform pastoral duties in Turkey. Each year‚ he travels thousands of miles to reach out to Iraqi Christian refugees in the country and offer them hope amid the physical and psychological problems they are facing‚ Crux details. “People need spiritual help. They need a priest. They want the church with them‚” said Father Adday. “I can’t give them material things
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| |7. |Of the two methods of accounting for uncollectible receivables‚ the allowance method provides in advance for uncollectible | | | |receivables. |True False | |8. |Generally accepted accounting principles do not normally allow the use of the direct write-off method of accounting for |
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Romulus and Hora Romulus and Hora in Romulus my Father is evidence of this. Both share a cultural root of ‘Romania’ and links between people are able to strengthen a sense of belonging so that it’s not just a fleeting experience. “Nor have I known anyone so contemptuous and resistant.... it formed the basis of their lifelong friendship...they longed for a community of honorable men”. The underlying contemplative and authoritative tone of the quote shows that as immigrants‚ that values and ethics
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to destroy her reputation to help the boy and was going to do everything in her power to prove that Father Flynn was guilty. She even lied to her superior‚ Father Flynn‚ in hopes that she could get him to admit what he did; she even contacted the boy’s mother to try and get her involved. She put herself through all of this trouble‚ not even sure if she was right about her suspicions‚ to make Father Flynn leave so that the boy would be safe. Although her intentions were pure‚ she did not
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Accounting Concepts Underlying Assumptions‚ Principles‚ and Conventions Assumptions The following are basic financial accounting assumptions: Separate entity assumption - the business is an entity that is separate and distinct from its owners‚ so that the finances of the firm are not co-mingled with the finances of the owners. • Going concern assumption - the business is going to be operating for the foreseeable future. Stable monetary unit assumption - e.g. the U.S. dollar • Fixed
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