Introduction Accounting is a very old science as it is strictly related to the first forms of trade in the old world. According to Belkaoui (1992: 22)‚ the Committee on Terminology of American Institute of Certified Public Accountants (AICPA) defines accounting as follows: "Accounting is the art of recording‚ classifying and summarising in a significant manner and in terms of money‚ transactions and events which are in part at least‚ of a financial character‚ and interpreting the results thereof
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CHAPTER 7 Summary of Findings‚ Conclusions and Recommendations The study made the Pili pulp as the center of development‚ a nutritious food material. The product is made for culinary purposes‚ salad dressing‚ shortening‚ for canned sardines and other food preparations. It has more nutritional benefits than the existing cooking oil products in the market. The objective of this study is to determine the viability of producing cooking oil from extract of Pili pulp and the additional source of income
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not been authorized. *Accounting estimate—An approximation of a monetary amount in the absence of a precise means of measurement. This term is used for an amount measured at fair value where there is estimation uncertainty‚ as well as for other amounts that require estimation. Where ISA 540 2 addresses only accounting estimates involving measurement at fair value‚ the term “fair value accounting estimates” is used. *Accounting records—The records of initial accounting entries and supporting
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Jim McFie‚ a Fellow of the Institute of Certified Public Accountants of Kenya FASB (the Financial Accounting Standards Board‚ a US body) was the first organization to develop “Concepts Statements”. All the other “Concepts Statements” have been based on those developed by FASB. A new “Conceptual Framework for Financial Reporting” was worked on jointly by FASB and IASB (the International Accounting Standards Board) and was published simultaneously by FASB and IASB in September 2010. It deals with
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the other animals‚ and instead of establishing an egalitarian society‚ they replaced the tyranny of man with an even worse form of oppression and exploitation. Orwell clearly shows that: “power corrupts‚ and absolute power corrupts absolutely”. Conclusion: Orwell set out to express his feelings and thoughts on the situation in Russia. By using the basis of a farm and the animals to take the place of people‚ he was able say more of what he really felt. Napoleon‚ the leader‚ pushing himself
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106: Accounting for Business Coursework 2012 In this age of globalisation‚ while it is absolutely necessary for large listed companies in different countries to prepare financial statements using uniform accounting standards‚ such as International Financial Reporting Standards (IFRSs)‚ the preparation of management accounting reports remains optional. Required: Critically examine the above statement by analysing the arguments for and against the use of uniform (international) accounting standards
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presentation and disclosure requirements can assist the predictive role of historically prepared financial statements The International Financial Reporting Standards or better known as IFRS‚ are generally principal-based standards‚ interpretations‚ and framework which is taken up by the International Accounting Standard Board (IASB) (Accounting Standards‚ 1997). The IFRS financial statements include the presentation of a set of statement of financial position‚ an income statement
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convergence of IFRS and GAAP‚ it will cover some of the similarities and differences between the two‚ go over risk for companies as well as ways for companies to prepare. | IFRS and GAAP and what convergence means. In financial surprise accounting the objective for financial reporting are to provide useful information for potential investors and creditors‚ assessing cash flow‚ and about claims and changes to company resources. The problem with this is that‚ without standards each company
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TABLE OF CONTENT 1.0 Introduction | | 2.0 Issues Surrounding the Professionalism of Accounting | | 3.0 Literature Review | | 4.0 Presentation of the main Idea about the Professionalism of Accounting | | 5.0 Analysis and discussion | | 6.0 Conclusion | | 7.0 Reference | | 1.0 INTRODUCTION 2.0 ISSUES SURROUNDING THE PROFESSIONALISM OF ACCOUNTING Twenty years ago‚ Briloff (1986) alerted the profession to the crisis of credibility being faced because society perceived
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Conclusion: Category 1: Momentum was found that after the collision was less than before the collision by 10%. This was not what has been expected‚ so the difference was fairly significant. This happened because of friction‚ when the two pucks collided‚ they have lost a bit of their momentum‚ so the momentum after the collision differed. Kinetic energy differed more than what was expected‚ it was significantly less after the collision‚ the difference before and after the collision was 63.7%‚
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