Classmates‚ According to (Oster‚ 2014)‚ "Percentage of receivables and percentage of sales are two accounting allowance methods used to reconcile customer accounts deemed noncollectable. When allowed by generally accepted accounting principles (GAAP)‚ these two strategies are preferred over direct write-off of bad debt expenses. Percentage of receivables and percentage of sales provide a business with the ability to accurately estimate the expected bad debt losses they will have in each succeeding
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8/2/2012 Objective of Lecture 2 CLASSIFICATION OF ACCOUNTS & ACCOUNTING EQUATION • By end of lecture 2‚ all students should be able to:(a) Understand the five categories of accounts and able to classify them into the respective categories (b) Understand the accounting equation and the relationship between assets‚ liabilities and owner’s equity. Classifications of accounts • • 1. 2. 3. 4. 5. An account is used to record all information regarding an item. The five major
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ACCOUNTING SUBSTANCE OVER FORM Substance over form is an accounting concept where the entity is accounting for items according to their substance and economic reality and not merely their legal form. It is one of the key determinants of reliable information. For most transactions there will be no difference and in some cases however‚ the two diverge and the choice of how to present the transactions can give very different results. This differences occurs when an asset or liability is not recognized
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Running Head: Financial Statement Analysis Liz Claiborne Noemi Clemente Instructor: Michelle Estevez Florida National College October 05‚ 2009. Introduction One of the purposes of this project is to compare and contrast the differences and similarities of Liz Claiborne for the last two years based in their income statements‚ financial ratios‚ and balance sheet. The reader would find information about the company and industry profile; therefore‚ this outline will show graphics to help
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ASSIGNMENT BANK MANAGEMENT FIN 32043 LECTURE INCHARGE: MR AM SHEHAM APS DILRUKSHI SEU/IS/08/MG/019 3rd YEAR-2nd SEMESTER
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Table of Contents Case 1 Introduction Jill’s business is expanding while the up going GST prevent her from gaining more profits. The idea of replacing the labor with the help of new equipment will bring about an unprofitable break-even point. However Jill still insist on borrowing from bank to invest in the equipment regardless of the CVP analysis result‚ which raised some ethical issues. Analysis Question 1 Defining the stakeholders There are 5 major stakeholders arising
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Course Information and Policies Summer I - 2014 COURSE TITLE: General Biology for Science Majors I- Lecture COURSE NUMBER: BIOL 1406 INSTRUCTOR: Mrs. Shahdi Jalilvand‚ MS‚ PT OFFICE LOCATION: TCC-Southeast ESCT-3123A OFFICE TELEPHONE #: 817-515-3134 OFFICE EMAIL: shahdi.jalilvand@my.tccd.edu OFFICE HOURS: TBA You must be registered for both lecture (Biol 1406 Lecture) and lab (Biol 1406 Lab). The lecture portion comprises 70% of the final course grade. The lab portion
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INTRODUCTION Credit to the SME sector has been a priority area for the policy makers of our country. This is evident from the recent announcements about the stimulus package during global economic slowdown and also in recent Monetary and Credit policies and Union Budgets. The Small and Medium Enterprises (SMEs) have been playing an important role in the social and economic development of our country. They often act as a entrepreneurship nursery. They play a key role in economical development
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independent non-executive directors. (2) Chair of the audit committee is a fellow of the ICAA (3) All members of the AC will be financially literate. (4) The responsibilities of the audit committee include: integrity of financial reporting; risk management & internal control framework; &oversight of independence of external & internal auditors. (5) Qantas rotates the lead audit partner every five years and imposes restrictions on the ex-employees of the external auditor Additional Question 1
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INTRODUCTION Case of Nocton V Lord Ashburton‚ House of Lords (1914) AC 932 It is an important English tort law case regarding professional negligence and conditions under which a person will be taken to have assumed responsibility for the welfare of another. MATERIAL FACTS In this case a solicitor‚ Mr. Nocton appealed after he was accused of fraud in the High Court. Mr. Nocton had advised his client Lord Ashburton‚ who is the respondent‚ to release part of his mortgage so that he could acquire
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