organisational plan and all the related measures that an entity adopts to: * safeguard assets * encourage adherence to company policies * promote operational efficiency * ensure accurate and reliable accounting records. It is either an administrative control or an accounting control Characteristics of an effective internal control system include: * Competent‚ reliable‚ and ethical personnel * Assignment of responsibilities * Proper authorisation * Separation of duties
Premium Depreciation Balance sheet Expense
Chapter 3-1 The Accounting Information System Chapter 3-2 Financial Accounting‚ Fifth Edition Study Objectives 1. Analyze the effect of business transactions on the basic accounting equation. 2. Explain what an account is and how it helps in the recording process. 3. Define debits and credits and explain how they are used to record business transactions transactions. 4. Identify the basic steps in the recording process. 5. Explain what a journal is and
Premium Double-entry bookkeeping system Bookkeeping Asset
The basic principles of an accounting information system include all of the following except | | | Student Answer: | | cost effectiveness. (Cost effectiveness is one of the basic principles of accounting information systems.) | | | | flexibility. (Flexibility is one of the basic principles of accounting information systems.) | | | | useful output. (Useful output is one of the basic principles of accounting information systems.) | | | | periodicity. (Correct! Periodicity
Premium Accounts receivable Accounting software Invoice
ACC 556 – Financial Accounting for Managers Chapter 1 Homework Due Week 1 and worth 10 points Directions: Answer the following four questions on a separate document. Explain how you reached the answer or show your work if a mathematical calculation is needed‚ or both. Submit your homework assignment using the homework assignment link in the course shell. E1-1 Here is a list of words or phrases discussed in this chapter: 1. 2. 3. Corporation Creditor Accounts receivable 4. 5. 6. Partnership Stockholder
Premium Revenue Income statement Generally Accepted Accounting Principles
Two major approaches to contemporary social theory are the Marxian materialist approach and the structural functionalist approach. The materialist approach was developed from the work of Karl Marx‚ who believed that the economic order shapes society. The functionalist approach was developed from the work of Comte and Durkheim‚ stating that is the combination of all of society’s institutions that shapes society. An organic analogy is most often used to explain structural functionalism
Premium Sociology
Accounting and Finance Management Assignment 2 Semester: 3 Prepared by: Osoba Seun Student Number: Sc-Kl-00021763 Email Address: josher4real@yahoo.com Date submitted: 17/01/2014 Question 1 Sales Budget September ($) October ($) Budgeted sales (units) 9‚500 Selling price per unit $12 Total sales 90‚000 114‚000 Schedule of expected cash collections: October ($) Account
Premium Public company Balance sheet Privately held company
ENFORCEMENT OF ISLAMIC CONTRACTS: ISSUES IN THE LIGHT OF CONTEMPORARY LEGAL FRAME WORK. PREPARED BY AMIRUDEEN BIN HAMID SULTAN [LLB (HONS)‚ LPC] INTRODUCTION Historically‚ contracts are the applied practices that have been adopted by the human being from the very beginning of the human history for their physical survival in this natural world. The Islamic contracts basically adopted these pre-islamic concepts of contract. However what Islam innovated was prohibition of Riba‚ prohibition
Premium Sharia Islamic banking Common law
Show slide youtube on Mercedes innovation: Trivia: Did you know that 280 years ago‚ the British government announced if not the world’s first‚ then certainly the world’s largest prize for innovation at 20‚000 pounds reward for anyone who can “discover the longitude”- according to John Brandt. What is innovation? Why do organizations pay so much on research and development just to develop more of these? In a nutshell: 1. Innovation is something that is created as “new”. * According
Premium Innovation Diffusion of innovations
Some Early Definitions of Civilizations Civilization comes from the Latin word "civis‚" meaning "citizen."The term civilization has been defined and understood in a number of ways in a situation when there is no widely accepted standard definition. Civilizations have distinctly different settlement patterns from ordinary societies. The word civilization is sometimes defined as "a word that simply means ’living in cities’" (Standage 2005:25). Non-farmers gather in cities to work and to trade. Civilization
Premium Civilization Agriculture City
Accounting and Profiling Information Management System A System Proposal Presented to the Faculty of the Information Technology Education Program University of the Immaculate Conception Fr. Selga St.‚ Davao City _________________ In Partial Fulfilment of the Academic Requirements for the Subject SYSTEMS ANALYSIS AND DESIGN (SAD) By: Dayrit‚ John Paul N. Evasco‚ Allan Christopher G. Mendoza‚ John Mark N. September 2013 Table of Contents Part I SYSTEMS ANALYSIS
Free Philippines Accounting software Davao Region