Reflective Essay Why we use reflection It is important that we use reflection in order to further develop our skills in practice. No matter which reflective cycle chosen it is important that you identify what has been learned from the experience‚ how it has helped‚ if it is negative‚ how to overcome the problem in the future‚ and how it relates to theory and knowledge you have been taught. Reflective practice has been identified as one of the key ways in which we learn from our experiences in practice
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management to record‚ plan and control activities to aid decision-making process | Accounting process | Follows a full process of recording‚ classifying‚ and summarising for the purpose of analysis and interpretation of the financial information | Cost accounts are not preserved under Management Accounting but analyses necessary data from financial statements and cost ledgers. | Legal/rules | Drafted according to GAAP - General Accepted Accounting Procedure. | Drafted according to management suitability
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particular account allows access to. The solution Implementing an access control list will allow you a great deal of control over what users can and cannot access on your site. If you view the demo‚ available with the downloadable source code‚ you will be greeted with an index page that tests the ACL for each user. You can select different links at the bottom to view the ACL for the different users. If you click on the ’Admin Screen’ link near the top‚ you can view a sample of the admin
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a Dematerialized (or "Demat") account‚ instead of the investor taking physical possession of certificates. A Dematerialized account is opened by the investor while registering with an investment broker (or sub-broker). The Dematerialized account number is quoted for all transactions to enable electronic settlements of trades to take place. Every shareholder will have a Dematerialized account for the purpose of transacting shares. Process for opening a DEMAT account in any bank. Q2 What are
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LECTURE 1 PARTNERSHIP ACCOUNTS 1.1 LECTURE OUTLINE 1.1 The provision of the Partnership Act 1.1.1 Formation/ membership limits 1.1.2 Rights of partners 1.1.3 Obligations of partners 1.1.4 Dissolutions of partnerships Business/ Firm 1.1.5 Privileges of partners 1.2 Realignments 1.2.1 Treatment of goodwill in partnership Admission of new partners 1.2.2 Admission of new partners Retirement of partners 1.2.3 Retirement of partners 1.3 Dissolution of partnerships 1.3.1 Piece-meal Dissolutions
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DEMAT Account DEMAT Account Meaning: In India’s banking terminology‚ the term DEMAT Account refers to a deposit made at an Indian financial institution that can be used for investing in shares of stocks and other financial assets. Securities are held electronically in a DEMAT Account‚ thereby eliminating the need for physical paper certificates. Definition Demat account is a safe and convenient means of holding securities just like a bank account is for funds. Today‚ practically 99.9% settlement
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Accounts receivable is a legally enforceable claim for payment from a business to its customer/clients for goods supplied and/or services rendered in execution of the customer’s order. These are generally in the form of invoices raised by a business and delivered to the customer for payment within an agreed time frame. Accounts receivable is shown in a balance sheet as an asset. It is one of a series of accounting transactions dealing with the billing of a customer for goods and services that the
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The Chart of Accounts The increases and decreases in accounting element as affected by a business transaction are recorded in a device called account name‚ account title or account. Each accounting element is composed of several accounts which describe the related economic transactions and events. To maintain uniform account name‚ the business must have a listing of all the accounts it uses to record economic transactions. This listing of all accounts is called “Chart of Accounts.” The Chart of
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NATURE OF ACCOUNTS A separate account is maintained for each item in the balance sheet. Transactions may be recorded by entering the amount by which each item is affected into the respective account. The process of recording transactions consists of • T-Accounts. The T-account‚ named for its shape‚ is a convenient way of representing an account on a piece of paper. The T‚ with the account name entered at the top‚ permits transaction information to be entered on either side of the vertical
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ACCOUNT BALANCES For many purposes‚ it is necessary to determine the balance in an account. This is accomplished by adding the debits‚ credits‚ and determining the difference between the two sums. An account is said to have a debit balance if the sum of the debit entries to that account exceeds the sum of the credit entries. Conversely‚ an account has a credit balance if the sum of the credit entries exceeds the sum of the debit entries. Asset accounts normally have debit balances inasmuch as
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