define accounting. What are the three main characteristics of accounting? Is accounting static or dynamic? Accounting collects‚ analyzes‚ measures and records financial information about an organization and reports that information to stakeholders and decision makers. Accounting has 3 essential characteristics. Accounting is the (1) identification‚ measurement‚ and communication of financial information about economic entities to interested persons. Like social sciences‚ accounting is largely
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CLICK TO DOWNLOAD BUS 508 Contemporary Business Complete Course Week 1 Discussion "Corporate Responsibility" Please respond to the following: From the case study and the e-Activity‚ determine two (2) key reasons why people value the customer service that Nordstrom provides. Examine Nordstrom’s current corporate social responsibility activities‚ and suggest one (1) additional action that the company could take to further strengthen its corporate social responsibility efforts. From the
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calculations for a single product Apply CVP calculations multiple products Describe the assumptions and limitations that mangers consider when using CVP analysis Assess operational risk using margin of safety and operating leverage Analyze the difference between contribution margin and gross margin These learning objectives (LO1 through LO6) are cross-referenced in the textbook to individual exercises and problems. © 2012 John Wiley and Sons Canada‚ Ltd. 96 Cost Management QUESTIONS
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PERSPECTIVE Yosita Nur Wirdayanti ABSTRACT This paper addresses the issue of basis of income recognition from Islamic perspective. In Islamic banks‚ income recognition is very important since it will determine amount of profit that will be distributed to depositors. Begin with accounting principles from Islamic perspective‚ this paper discusses the concept of accrual and cash basis and scholar opinion about this basis of accounting. Both accrual and cash basis implementation with its advantages and
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Traditional Vs. Contemporary Organizations Traditional Organizational Structure The traditional organization is a pyramid with a president at the top‚ a few vice presidents‚ layers of management and the majority of employees at the bottom. Jobs are specialized‚ and information and authority flow from higher to lower levels. In recent years‚ a variety of organizational structures have come into fruition‚ such as matrix (flat)‚ networked or virtual. But‚ the traditional‚ hierarchical organization
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variance. II. Standard and variance Standard is the norm (e.g. standard number of years to get a college degree; standard number of hours to get a good night’s sleep; standard amount of time spent to pass CPA‚ etc). Variance is the difference between the actual and the standard (Favorable variance vs. unfavorable variance). III. Standard cost To establish the standard cost of producing a product‚ it is necessary to establish standards for each manufacturing cost element— direct
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Accounting Reporting Criteria Paper Accounting reporting criteria includes many factors and covers many elements. From Fundamental Financial Accounting Concepts‚ “accounting is so important that it is often called the language of business. In fact‚ accounting affects not only individual businesses but also society as a whole” (Edmonds‚ Edmonds‚ McNair‚ Olds‚ & Schneider‚ 2006‚ p. 4). Global business requires added consideration in the way of accounting reporting criteria. With heightened consumer
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Strauch‚ Carl F. "Kings in the Back Row: Meaning through Structure-A Reading of Salinger’s ‘The Catcher in the Rye’." Wisconsin Studies in contemporary Literature . 12. (1980): 30-5. Print. In the essay “Kings in the Back Row: Meaning through Structure-A Reading of Salinger’s ‘The Catcher in the Rye’” by Carl F. Strauch‚ the purpose was to explain Holden’s use of language and symbolism through out the novel‚ to understand The Catcher in the Rye. Strauch point out Salinger’s use of “slob speech”
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Convergence | Acc304 | | Home | 5/22/2011 | This report will discuss the 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
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Accounting plays an important role in the life of organizations. There are several types of accounting such as financial‚ management and governmental accounting‚ taxation‚ audit. These types are usually focusing on different types of users that are interested in different types of information. In this essay I will examine the differences between financial accounting and management accounting. The basic difference between financial and management accounting is their target group. Management accounting
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