Questions Chapter 1 1. How does managerial accounting differ from financial accounting? The essential difference between managerial accounting and financial accounting is that managerial accounting attends the needs of managers inside the organization‚ while financial accounting serves the needs of those outside the organization. There are also specific guidelines that are used (GAAP/IFRS) in financial accounting and is mandatory whereas there are no guidelines in managerial accounting and is not
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Checklist for this Subject Test 1. Answer Books: No 2. Standard MC Answer Sheets: No 3. Calculator: Yes 4. Paper Dictionary: No 5. Open Book: No --------------------------------------- QUESTIONS START FROM HERE ------------------------------------- Question 1 (a) What Grace suggested doesn’t seem to be ethical. First of all the transfer of her personal property to the Company will simply overstate the Company’s asset. Secondly‚ when the expenses were hidden off
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Task 1 Accounting record is defined as the all of the documentations involved in the preparation of financial statements and records which are relevant to financial review and audits which include recording of assets and liabilities‚ ledgers‚ journals‚ and any other supporting documents like invoices. Ledger: Maintaining ledger is a must in all accounting system. Ledger is used for preparing trial balance which checks the arithmetical accuracy of the accounting books. Ledger is the store-house
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1 CHAPTER - I INTRODUCTION Two most powerful forces affecting each sector of the economy today are the increasing rate of globalisation and advances in information and communication technology. It causes companies to use their input resources as much as possible in an effective way. Information technology is a powerful force and perhaps the single massive drive‚ impacting global society during the past decade. No doubt‚ it has given a new meaning to the word ‘convenience’. Information technology
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Exam Chapters 3‚4‚7 Student: ___________________________________________________________________________ 1. Which of the following is the correct formula to compute the predetermined overhead rate? A. Estimated total units in the allocation base divided by estimated total manufacturing overhead costs. B. Estimated total manufacturing overhead costs divided by estimated total units in the allocation base. C. Actual total manufacturing overhead costs divided by estimated total units in the allocation
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Chapter 1 Level 1 1. Plan the Employee and Customer tables needed in the 4Corners Pharmacy database using the information Don garnered during the discovery phase. Planning each table in this database will be a time consuming process. After you complete these two tables‚ challenge yourself to plan other tables. This requires reviewing what data is already being collected‚ what data is not being collected‚ and what outputs the stakeholders at 4Corners Pharmacy want to see. You must then brainstorm
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Chapter 1 Introduction to Cost Management I. FINANCIAL ACCOUNTING VERSUS COST MANAGEMENT: A SYSTEMS FRAMEWORK A system is a set of interrelated parts that performs one or more processes to accomplish specific objectives. An accounting information system consists of: objectives‚ interrelated parts‚ processes‚ and outputs. Inputs are generally economic events and the operational model of an accounting system is critically involved with the user of information. There are two basic accounting
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On October 1‚ Keisha King organized Real Answers‚ a new consulting firm; on October 3‚ the owner contributed $84‚000 cash. On October 31‚ the company’s records show the following items and amounts. Cash $ 11‚360 Cash dividends $ 2‚000 Accounts receivable 14‚000 Consulting fees earned 14‚000 Office supplies 3‚250 Rent expense 3‚550 Land 46‚000 Salaries expense 7‚000 Office equipment 18‚000 Telephone expense 760 Accounts payable 8‚500
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maintaining homeostasis and promotes an understanding of the basic human needs necessary for health maintenance. Explain the basic principles of inorganic and organic chemistry as they apply to physiological processes. REQUIRED TEXTS: BIO 135 1. LECTURE TEXT Essentials of Human Anatomy & Physiology 10th edition(REQUIRED) Author: Marieb Text Publisher: Benjamin Cummings ISBN: 9780321695987(13 digit) or 0321695984 (10 digit) 2. LAB EXERCISE TEXT - This ISBN # is a package that
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(CBA) Course Syllabus BFIN 340: Cost Accounting I COURSE INFORMATION Course Code & Title: BFIN 340: Cost Accounting I Credits: 3 credits Prerequisite: BFIN 231 Classroom: H204 Schedule: TTh: 8:00 – 9:15 Term: Fall 2014 INSTRUCTOR INFORMATION Instructor: Rima Hakim Office: Bldg G‚ Room 101-H Office Hours: TTh 9:30 – 11:30‚ Else by appointment Instructor’s Email: hakimrc@rhu.edu.lb Textbook & Material: Cost Accounting. 15th edition‚ Horngren‚ Datar and
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