Primary users Financial accounting : the primary users of financial accounting are the external users‚ shareholders‚ investors ‚ creditors‚ lenders and government. Share holders are using financial information to know about their investment e.g how the investment is running‚ what is the organization profit and what is the value of the organization. Investors use financial information to know in which organization they should invest and to look how was the organsation performance in the past so
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What is the difference between accrual-basis accounting and cash-basis accounting? The variation between accrual basis accounting and cash basis accounting‚ is how cash is documented. Cash basis is an accounting basis that is used when expenses and revenue are paid out or received. This is when the transaction will be recorded. In accrual-basis accounting‚ transactions are recorded when they actually happen. Payment does not need to be made for the transaction to be recognized in accrual-basis
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Analysis of Wal-Mart Managerial Accounting Process Table of Contents Company Description of Wal-Mart Page 3 Budgeting Process Page 3 Management Accounting System Page 4 Costing System Page 5 Capital Decision Making Process Page 6 Capital Structure Page 6 Project Conclusion Page 7 Information Sources and Methodology Page 8 References Page 8 Company Description For the final project of managing finance Wal-Mart Stores
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Accounting for Managers TOPIC A: AN INTRODUCTION TO ACCOUNTING Investors – Individual and groups provide initial capital. Creditors – Company which loans money to another company (Suppliers/Bank). Managers – Oversee the day-to-day operations. What is accounting? * Process of Recognising‚ measuring‚ recording (also known as transactions)‚ disclosing and attesting to information. *Information – Decision Making (Value Creation)‚ Control (Monitoring). Process of Accounting: Transactions
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Keller Graduate School ACCT 593 Financial Accounting and Reporting NOVEMBER 2012 Syllabus Important Deadlines Course Start Date 10/29/2012 Course Completion Date 1/6/2013 Portal Access Deadline 02/28/13 Discussions Required on a Weekly Basis By its nature‚ the evaluation of participation in the threaded discussions will be subjective based both on quantity and quality of contributions. Not all threads will require
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Cuba and the United States represent opposite ends of the healthcare spectrum. Cuba has a completely state run healthcare system‚ where treatment is free and the idea of paying for a doctor’s visit is strange. The system is organized to emphasize community involvement and care; each area of the country has a polyclinic that provides many of the necessary primary care specialists‚ and within that polyclinic system‚ doctor and nurse teams take even more responsibility for those around them by living
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------------------------------------------------- Subject: Managerial Accounting Case 1 Seligram In the Seligram case‚ the existing cost accounting system measured two components of cost: direct labor and burden. All burden cost‚ which is the overhead‚ was grouped into a single cost pool and was calculated only by using a burden rate per direct labor dollar. This may cause problems since direct labor and overhead are not consumed by the products in the same proportion. Simply using the same burden
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analyzing the relationship between Governmental Accounting Standards Board (GASB) and Financial Accounting Standards Board (FASB) I realized that both play an important role in the accounting field. There are different objectives for each board and I will explain the similarities and differences. I will describe the role of government regulation in the application of accounting standards and reporting requirements. Finally‚ I will present a situation in a governmental accounting environment in which FASB
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Bad Debts and Doubtful Debts Editorial This month we feature a topic that often causes students some difficulty‚ that of Bad Debts and a provision for Doubtful Debts. The writing off procedure for a bad debt is often handled competently by students in an examination environment but raising an initial provision for bad debts and its subsequent revision in the form of an increase or decrease can be difficult to deal with. This paper therefore should be of particular interest to our registered
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Week 4 Checkpoint March 17‚ 2013 XACC/290 Resource: Ch. 4 of Financial Accounting Complete Exercise BE4-1. Complete Problems 4-2A & 4-3A. BE4-1: |Cash |Net Income | |-$100 |$0 | |-$20 |$0 | |+$1‚300 |$1‚300 | |+$800 |$800 | |-$2‚500 |$0 | |-$600 |$0 | | |
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