| |[pic] |Government Authorized Accounting Procedures | |[pic] |Generally Applied Accounting Procedures | |[pic][pic] |Generally Accepted Accounting Principles | The total equity of Timberlake
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Question no: 01:- Accounting profit and Economic profit. Economic Profit Implicit cost Accounting profit Explicit cost Total opportunity cost Revenue Revenue How an economist views a firm How an accountant views a firm Accounting profit equals sales revenue minus ( - ) all costs except the cost of equity capital‚ while Economic profit is sales revenue minus ( - ) all costs including the opportunity cost of equity capital. Thus economic profit may be lower than the accounting profit. If accounting
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Chapter 4. Computer-based Accounting Systems: Practice The previous two chapters attempted to identify the characteristics of "good" accounting systems by reviewing the normative and empirical literature. This chapter begins the right-hand branch of the four-chapter Requirements Determination process illustrated in the lower half of Figure 1.1: it surveys the present state of computer-based accounting practice; Chapter 5 reviews computer-based accounting systems theory. Opportunities and problems
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The historical events in the Philippines History: Return of democracy (1987 to present year) 1987 • In a bid to fully restore the democratic form of government‚ President Corazon Aquino appointed 48 members of the constitutional convention that drafted a new constitution restoring the presidential form of government and abolishing the Batasang Pambansa. The 1987 Constitution replaced the 1973 Constitution which was amended twice in 1981 and 1984. • The Reform the AFP Movement (RAM) led by Gregorio
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Accounting Principles‚ Concepts and Conventions Accounting principles are guidelines & standards‚ which have been accepted by the accounting profession in preparation and presentation of accounts of the business. It is approved and normally accepted by the government bodies &controlling authorities. Accounting principles are uniform in order to understand in the same sense by those using it. Also they are not rigid (i.e. inflexible) like principle of gravity but they are flexible.
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| 1. Introduction Recent years have saw that listed firms‚ especially the large organisations‚ voluntarily disclose their Social and Environmental issues in their annual reports. As a result‚ a question was come up with by researchers: why managers would choose to undertake the voluntary activities? Although there is no consensus being reached about what perspective theories should be used to explain the Social and Environmental Accounting‚ and moreover critique voices are from the
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History of fashion 1900-1990 What a Difference 100 Years Makes Looking back over fashion trends for the past 100 years can only cause one to marvel at the drastic changes that have occurred‚ often in lockstep with societal changes. Women’s liberation‚ for example‚ can be visually measured through the evolution from suffocating corsets to jersey fabrics to bikinis. A timeline of the past century shows how the times have changed. During ancient times people wore limited clothing made from animal
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system Current purchasing system contributed to redundant purchasing and high inventory holding costs and caused increases in costs of goods sold and inventories disproportionate with growth of sales a) The purchasing clerk‚ Cik Anne should not have received the invoice and DO. - In this case show that Cik Anne received the DO and SRN FROM En. Min and invoices from supplier‚ she batched‚ checked and coded the invoices. b) There is no copy of PO being sent to vendor‚ Receiving Department
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I Brief Contents 3 Chapter 1 Introducing Financial Accounting Chapter 2 Constructing Financial Statements Chapter 3 Adjusting Accounts for Financial Statements Chapter 4 Reporting and Analyzing Cash Flows Chapter 5 Analyzing and Interpreting Financial Statements Chapter 6 Reporting and Analyzing Revenues and Receivables Chapter 7 Reporting and Analyzing Inventory Chapter 8 Reporting and Analyzing Long-Term Operating Assets
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linkend="ch04table05" preference="0">Table 4-5<xref linkend="ch04table05" label="4-5"/></link> in a relational DBMS product). Write queries to answer the following questions. <emphasis>Note</emphasis>: For some questions‚ you may have to create two queries—one to calculate an invoice total and the second to answer the question asked. 1. You must include a screen shot of the query (or queries) created and a screen shot of the results for each question. 2. Be sure you include
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