“Financial statements are like fine perfume; to be sniffed but not swallowed.” - Abraham Briloff (Professor Emeritus of CUNY Baruch) ACCOUNTING: Accounting is defined by the American Institute of Certified Public Accountants (AICPA) as "the art of recording‚ classifying‚ and summarizing in a significant manner and in terms of money‚ transactions and events which are‚ in part at least‚ of financial character‚ and interpreting the results thereof." ACCOUNTING AND ITS ROLE IN SOCIETY:
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MBA (SEMESTER I) Organisational Behaviour & Principles & Practices of Management Course Code: NLCMBA-101 1. Explain the term “Organisational Behavior” State the Elements of Organizational Behavior. What are its Features? 2. Explain the Historical Development of Organizational Behavior. Describe the evolution of Organisational Behavior 3. “The study of organizational Behavior is e study of the Behavior of the people in the Organisation “Discuss. 4. Write Short Notes on: a) Fundamental Concepts of
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Comparison of United States‚ United Kingdom‚ and Chinese Accounting Systems‚ Accounting Standards‚ Accounting Practices This report discusses the accounting practices of the following countries U.K‚ U.S.A and China. An analysis of these different accounting systems will be conducted on issues such as the growth and background‚ social‚ economic and fiscal pressures that have led to each nations current characteristics. Concluding on the direction each nations accounting systems and practices seem
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ACC/291 Final Examination Study Guide This study guide will prepare you for the Final Examination you will complete in Week Five. It contains practice questions‚ which are related to each week’s objectives. In addition‚ refer to each week’s readings and your student guide as study references for the Final Examination. Week One: Principle Assets Objective: Prepare journal entries to account for transactions related to accounts receivable and bad debt using both percentage of sales and the
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1. (TCO A‚ B‚ C) External users want answers to all of the following questions except: (Points : 3) Is the company earning satisfactory income? Will the company be able to pay its debts as they come due? Did the company use a budget to plan its expenses? How does the company compare in profitability with competitors? | 2. (TCO C) Debt securities sold to investors that must be repaid at a particular date some years in the future are called: (Points : 3) accounts
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Throughout history‚ many components have shaped the way a country develops itself both economically and financially. To fully understand a country’s accounting standards one must explore such environmental factors as the history‚ demographics‚ economy and the legal system of a country. South Africa is a dynamic country full of diversity. It is hard to understand the structure of the accounting profession without first learning how South Africa developed into the country it is today. The history
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vs. Unearned Revenue ACCT 212 Week 2 DQ2 Accrual vs. Cash Accounting ACCT 212 Week 3 DQ1 Ethical Business Decisions ACCT 212 Week 3 DQ2 Trade Credit – Accounts Payable ACCT 212 Week 4 DQ1 Inventory Management ACCT 212 Week 4 DQ2 LIFO ACCT 212 Week 4 Midterm ACCT 212 Week 5 DQ1 Non-current Assets and Related Liabilities ACCT 212 Week 5 DQ2 Raising Capital (Cash) ACCT 212 Week 6 DQ1 Stockholders Equity ACCT 212 Week 6 DQ2 Net Income vs. Net Operating Cash
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concerning her request for tax assistance. Roberta wants to know if she can use the specific identification method to calculate the recognized gain of her sale of Color Inc. stock. She received a letter from the IRS stating that she should have used the FIFO method. Therefore‚ Roberta is looking to find out which method is correct to clear this matter up with the IRS. Facts: In October 2016‚ Roberta instructed her stock broker to sell 6‚000 shares of Color‚ Inc.‚ with the highest cost basis. At the time
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2009 Level I Mock Exam: Afternoon Session The afternoon session of the 2009 Level I Chartered Financial Analyst® Mock Examination has 120 questions. To best simulate the exam day experience‚ candidates are advised to allocate an average of 1.5 minutes per question for a total of 180 minutes (3 hours) for this session of the exam. Questions 1-18 19-32 33-44 45-68 69-78 79-90 91-96 97-108 109-114 115-120 Topic Ethical and Professional Standards Quantitative Methods Economics Financial Statement
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weighted average method -FIFO-method “What’s the difference?” Process costing – methods of stock valuation 1. QUANTITY STATEMENT FIFO: Opening work in process (units) kept separate from units started and completed in the current period. WAM: All units completed and transferred out are treated identically (opening WIP and units started and completed are combined in the output column). Process costing – methods of stock valuation 2. PRODUCTION COST STATEMENT FIFO: Only uses current period
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