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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Saul Kassin and Gisli Gudjonsson‚ in their article for Scientific American Mind‚ “True Crimes‚ False Confessions‚” argue that “society should discuss the urgent need to reform practices that contribute to false confessions and to require mandatory videotaping of all interviews and interrogations” (2005‚ p. 26). After analyzing their argument‚ I shall argue that‚ although one might object that Kassin and Gudjonsson focus too heavily on the importance of protecting criminal suspects‚ they provide
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Costs assigned to the building of a house should appear on the income statement when Answer a. the purchase order to manufacture the house is received. b. the house is sold. c. cash is collected for the sale of the house. d. the house is completed. The basic document for keeping track of costs in a job order costing system is a Answer a. labor time card. b. job order cost card. c. process cost report. d. materials requisition form. The following information is available at the
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JUST WAR In this article‚ firstly I will try to explain the history of Just War‚ and then by examining Melian dialogue‚ I will compare realistic and idealistic idea. After that I will explain the basis of right of individuals and right of society‚ After that I will touch upon the principles of a just cause (jus ad bellum) for war which is called Theory of Aggression and just act (jus en bello) in war which is called War Convention by Michael Walzer. Then I will try to find out Walzer’s Legalist
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What is a theory? In this book we consider various theories of financial accounting. Perhaps‚ there¬fore‚ we should start by considering what we mean by a ’theory’. There are various perspectives of what constitutes a theory. The Oxford English Dictionary provides various definitions‚ including: A scheme or system of ideas or statements held as an explanation or account (description) of a group of facts or phenomena. Explanation or Account (description) of a group
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Department of Accounting & Information Systems Course Code: MIST304 Semester: Spring First Semester 2013/14 Start Date: 23rd April‚ 2014 Submission: 26th May 2014 Course Instructor: Assessment Instrument (specify): Group Project This instrument assesses the following Course Learning Outcomes (CLO): CLOs: Maximum 20 Marks. This constitutes
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Article Analysis From Enron to Tyco‚ accounting scandals have always been a worrisome issue in accounting. Regardless of how many internal controls there are‚ there will always be a chance for unethical practices in accounting. Where and when do these problems arise? This paper will analyze an article listing situations that lead to those unethical practices and behavior that lawmakers try to prevent. In his article “What Are the Causes of Ethical Lapses in Accounting‚” Jagg Xaxx writes that business
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CHAPTER 2 21. Generally accepted accounting principles a. are fundamental truths or axioms that can be derived from laws of nature. b. derive their authority from legal court proceedings. c. derive their credibility and authority from general recognition and acceptance by the accounting profession. d. have been specified in detail in the FASB conceptual framework. 22. A soundly developed conceptual framework of concepts and objectives should a. increase financial statement users’
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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
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1. IntroductionPensonic Company Pensonic is one of the most successful trading companies in Penang‚ Malaysia that sells a wide variety of electrical appliances. In addition to its own brand “Pensonic”‚ the company also owns the German brand “Lebensstil Kollektion” and owns the sole-distribution rights for the Dutch brand “Princess” in Malaysia. Pensonic also established a mass production hub and international distribution network of electrical home mechanism and an international distribution network
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