Introduction to Accounting Accounting is a profession used to make financial and business decisions. Billions of dollars exchange hands every day‚ in millions of separate business transactions. These are recorded and reported on using a comprehensive set of guidelines‚ referred to as Generally Accepted Accounting Principles (GAAP). Brief History of Accounting Accounting was born before writing or numbers existed‚ some 10‚000 years ago‚ in the area known as Mesopotamia‚ later Persia‚ and today the
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Nature of Accounting and the Accounting Standard Background Accounting is an important part for business and it is dubbed “language” of business activities conducted by firms. People think it is used to communicate business transactions per se to all stakeholders. However‚ some people argue that the functions of accounting are not that easy. Except the communication tool‚ accounting acts as many other difference roles in business. When doing accounting‚ different standard may be used. There are
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.............. Rent on equipment used in the factory .......... Lubricants used for machine maintenance ..... Salaries of personnel who work in the finished goods warehouse.............................. Soap and paper towels used by factory workers at the end of a shift ...................... Factory supervisors’ salaries.......................... Heat‚ water‚ and power consumed in the factory ...................................................... Materials used for boxing products for shipment overseas
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2-1 BU8101 Accounting: A User Perspective Lecture 2 The Accounting Cycle Wednesday‚ 17 August 2011 Mrs. Ho Yin Kheng S3-01C-88 Nanyang Business School Nanyang Technological University Email: yklau@ntu.edu.sg Tel: 67905694 2-2 LO 2 Lecture Outline 1. Analyzing Business Transactions 2. Recording Process a. b. c. d. e. f. The Source Document The journal The accounts Debit and Credit rule Recording process illustrated Unadjusted trial balance 3. Adjusting entries
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1. a. “Statistics is the nerve center for Operations Research.” Discuss. b. State any four areas for the application of OR techniques in Financial Management‚ how it improves the performance of the organization. 2. At the beginning of a month‚ a lady has Rs. 30‚000 available in cash. She expects to receive certain revenues at the beginning of the months 1‚ 2‚ 3 and 4 and pay the bills after that‚ as detailed here: Month Revenue Bills 1 Rs
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is sample of Scope and Limitation. This was used on a CASE STUDY entitled “Comparison and Contrast of sorting algorithm between Visual Basic.net and Java (Netbeans)”. This will help you to construct your own scope and limitation according to your study. This will serve only as your overview and guide for this part of case study. SAMPLE SCOPE AND LIMITATION: COMPARISON AND CONTRAST OF SORTING ALGORITHM BETWEEN VISUAL BASIC.NET AND JAVA (NETBEANS) Scope and Limitation Scope The
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ledger a.a chronological record of all transactionsb.the balance of each account in the chart of accountsc.budget records for each account in the chart of accountsd.subsidiary details supporting a control account 2. Which steps in the Financial Accounting Process are in the correct sequence based on closing the accounts and determining timing differences prior to issuing financial statements a.record the transaction‚ post to the ledger‚ prepare the adjusted trial balance‚ enter adjusting entries
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ACC206: Principles of Accounting II Final Paper Instructor: Emmett Denham March 25‚ 2013 ABC Company could reach $3 million in annual sales within 3 years if the company used shingle scrap material to build cedar dollhouses. The new product would add additional costs but would project an aggressive growth in revenue for the company. In the following reports I will show you how beneficial the cedar dollhouses would be to ABC Company. [ABC Company] | Cash Flow Satement | | | | Date:
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companies. It manufactures and markets a huge range of products and variety of electronic products under the Panasonic brand to enrich and increase lifestyles all around the world. The “Panasonic” brand name was established in 1955 and was firstly used as a brand for audio speakers. The name is a collaboration of the two words‚
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Master of Business Administration- MBA Semester 1 MB0041 – Financial and Management Accounting Q1. Accounting is one of the oldest‚ structured management information system. Give the meaning of accounting and book keeping? Explain the objectives of accounting? ANS. Meaning of Accounting- The systematic and comprehensive recording of financial transactions pertaining to a business. Accounting also refers to the process of summarizing‚ analyzing and reporting these transactions. The financial statements
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