The formation of the debit and credit concept In this simplified form we can begin to see what the mathematician and Father of Accounting (Luca Pacioli) saw in 1494 when he codified the double-entry bookkeeping system. It is his codified system that outlined the rules for applying debits and credits when recording the financial transactions of a business in the double-entry bookkeeping system. Now remember that Luca’s book in 1494 was written and published in Latin and at a time when the concept
Premium Double-entry bookkeeping system Bookkeeping
residents. The Company EB is incorporated in Eldoret Town‚ its postal address being The mobile number being It is owned and managed by its owner-Eric Kipchoror Kiplagat. Mr.Eric Kipchoror Kiplagat has extensive experience in accounting‚ sales‚ marketing‚ and management and is the Sales Executive of Sergoit Golf & Wildlife. The company intends to hire two full-time pastry bakers and six waitresses to handle customer service and day to day operations. Products and Services EB offers a broad
Premium Marketing Coffee Product differentiation
TOPIC 1 USE THE FOLLOWING INFORMATION FOR THE NEXT TWO PROBLEMS Assume you bought 100 shares of NewTech common stock on January 15‚ 2003 at $50.00 per share and sold it on January 15‚ 2004 for $40.00 per share. 1 What was your holding period return? 2 What was your holding period yield? USE THE FOLLOWING INFORMATION OR THE NEXT TWO PROBLEMS Suppose you bought a GM corporate bond on January 25‚ 2001 for $750‚ on January 25‚ 2004 sold it for $650.00. 3 What was your annual holding period
Premium Investment Arithmetic mean Inflation
well as aging workforces. To secure the companies’ competitive advantage and output capabilities and to vanquish these issues Demographic Management has to be positioned as a strategic objective within the companies. At present HR-Departments do not identify changes in demography as an issue affecting them. As a precondition for successful Demographic Management the employee structure must be analyzed and the intended future structure should be defined. Measurements to prevail over demographic issues
Premium Demography Talent management Economics
According to the Chartered Institute of Management Accountants (CIMA)‚ Management Accounting is "the process of identification‚ measurement‚ accumulation‚ analysis‚ preparation‚ interpretation and communication of information used by management to plan‚ evaluate and control within an entity and to assure appropriate use of and accountability for its resources. Management accounting also comprises the preparation of financial reports for non-management groups such as shareholders‚ creditors‚ regulatory
Premium Management accounting Costs Variable cost
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
Premium Generally Accepted Accounting Principles Accounts receivable Revenue
consider in evaluating a business loan request. In addition‚ we explore the different methods used today to price business loans and to evaluate the strengths and weaknesses of these pricing methods for achieving a financial institution’s goals. Key Topics in This Chapter • Types of Business Loans: Short-Term and Long-Term • Analyzing Business Loan Requests • Collateral and Contingent Liabilities • Sources and Uses of Business Funds • Pricing
Premium Debt Generally Accepted Accounting Principles Interest
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
Premium Generally Accepted Accounting Principles Balance sheet Asset
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
Premium Generally Accepted Accounting Principles Balance sheet Accounts receivable
Accounting For Managers Handbook © University of Bedfordshire 2013 Published by the University of Bedfordshire Business School Luton Campus‚ Vicarage Street‚ Luton LU1 3JU‚ United Kingdom Unit Handbook © University of Bedfordshire 2013 Welcome Welcome to the Accounting For Leaders unit of the University of Bedfordshire MBA Programme. This handbook contains all of the advice and information you need to successfully complete your work on this unit. It should be read in conjunction with the
Premium Financial statements Virtual learning environment Generally Accepted Accounting Principles