employees is fair. In most cases when a union is involved‚ there is a percentage of compensation that has been agreed upon. 1.7) Financial accounting (i) Management accounting (h) Financial reporting (g) Financial statements (f) General-purpose assumption (b) Integrity (c ) Internal control (e) Public accounting (d) Bookkeeping (a) 2.3) Amber Company’s assets total $150‚000 and its liabilities total $85‚000. What is the amount of Amber’s
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The formation of the debit and credit concept In this simplified form we can begin to see what the mathematician and Father of Accounting (Luca Pacioli) saw in 1494 when he codified the double-entry bookkeeping system. It is his codified system that outlined the rules for applying debits and credits when recording the financial transactions of a business in the double-entry bookkeeping system. Now remember that Luca’s book in 1494 was written and published in Latin and at a time when the concept
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3 Adjusting Accounts and Preparing Financial Statements QUESTIONS 1. The cash basis of accounting reports revenues when cash is received while the accrual basis reports revenues when they are earned. The cash basis reports expenses when cash is paid while the accrual basis reports expenses when they are incurred (and matched with revenues they generated). 2. The accrual basis of accounting generally provides a better indication of company performance and financial condition than does
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Independent University‚ Bangladesh (IUB) In Partial Fulfilment of the Requirements of EMBA Course-513E Management Accounting By Mohammed Shamsuddin Student ID: 1110805 Summer Semester‚ 2012‚ Management Accounting‚ EMBA INDEPENDENT UNIVERSITY‚BANGLADESH July 26‚ 2012 Dr.Dilip kumar Sen Professor School of
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Objective 1. Determine the total considerations transferred. 2. The land and buildings should be recorded on the premise of “in-use” or “in-exchange”. 3. Determine the fair value recorded for the intangible assets. Applicable accounting pronouncement ASC 805-20-25 Business Combinations-Identifiable assets and liabilities and any non controlling interest-Recognition Recognition Conditions 25-2 To qualify for recognition as part of applying the acquisition method‚ the
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a Sangguniaang Kabataan Chairman. Together with this is the Barangay Secretary and a residing midwife or a doctor that manages and supervise the barangay health center. The barangay is in charge of keeping track of the records of each and everyone living in the place. These records are important for different purposes that the barangay is being used. The system that the barangay is being used is the manual based process for all the services it gives to its constituents. They manually handle files
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Electronic medical records 2 Electronic medical records In today’s society‚ time is limited balancing professional and personal lives. People expect the quickest method of communication so they can get back to living their lives‚ without interruptions. E-mail‚ the Internet‚ and cellular phones make communication faster for people to get the information they need. Communication is crucial between consumers and medical providers. Electronic medical records are a mode of communication between
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Accounting Homework Individual Chapter 7 Question 1&2 1. (a) What are generally accepted accounting principles (GAAP)? In the U.S.‚ generally accepted accounting principles‚ commonly abbreviated as US GAAP or simply GAAP‚ are accounting rules used to prepare‚ present‚ and report financial statements for a wide variety of entities‚ including publicly-traded and privately-held companies‚ non-profit organizations. (b)What bodies provide authoritative support for GAAP
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Land Speed Record The land speed record (or absolute land speed record) is the highest speed achieved by a wheeled vehicle on land. There is no single body for validation and regulation; in practice the Category C ("Special Vehicles") flying start regulations are used‚ officiated by regional or national organizations under the auspices of the Fédération Internationale de l ’Automobile. The record is standardized as the speed over a course of fixed length‚ averaged over two runs (commonly called
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Technology Electronic Medical Records By Candace Sanchez University of Phoenix Just like standard methods of record keeping‚ moving patient’s records from paper and physical filing systems to computers and their super storage capabilities creates great efficiencies for patients and their providers‚ as well as health payment systems. Electronic medical records are the “new age” in storing medical records. An electronic medical record is a digital record kept by your doctor’s office
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