examples‚ evaluate the effectiveness of the controls in the double entry system of accounting in ensuring the accuracy of the accounts. As well as examining the controls‚ your evaluation should consider errors that do not affect the balancing of the trial balance. Double entry accounting system was invented in 15th century and still being in use until today‚ this is quite an interesting fact; however it indicates that there is something about the system‚ thus making it so effective and irreplaceable
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Pierce Control Systems case 1. Based on the 10 percent compensating balance requirement‚ how much would Pierce Control Systems have to borrow to acquire $10 million in needed funds? Solution: Compensating balance = 10% → 0.10 Amount needed = $10‚000‚ 000 [pic] [pic] Check: Loan = $11‚111‚111 Compensating balance = 10% → 0.10 = loan ∙ 0.10 = $11‚111‚111 ∙ 0.10 = $1‚111‚111 Available funds = Loan – Compensating Balance Available funds = $11‚111
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ABSTRACT The study aimed at assessing the effectiveness of computerized accounting systems in organizations (the general objective of the study). It employed a case study design and Ministry of Finance and Economic Affairs was chosen as the case of the study. Various literatures were consulted to get the theoretical and empirical thoughts of stupendous authors about the topic under study to help the researcher craft and refine her methodology. Questionnaires‚ documentation and interviews were
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ACCG399 Tutorial 1 – Week 2 Thought Activity Accounting‚ from my conception‚ is a system that provides quantitative information about finances. Unlike accounting‚ accountability is a responsibility to someone or for some activity. However‚ an accountant is an occupation who maintains and audits business accounts. Have been studying in university nearly two years‚ I have come to some conclusions about accounting. Until now‚ the thing that I enjoy is in financial accounting‚ because it is need us
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Tutorial (Week 4) Question 1 Price Qty Demanded (Income = RM4‚000) Qty Demanded (Income= RM5‚000) 5 20 25 8 16 22 11 12 19 14 8 16 17 4 13 a. Use the midpoint method to calculate your price elasticity of demand as the price of T-shirt increases from RM5 to RM8 if (i) Your income RM4‚000 (ii) Your income RM5‚000 b. Calculate your income elasticity of demand as your income rises from RM4‚000 to RM5‚000 if (i) The price is RM14 (ii) The price is RM17 Question 2 Consider public policy aimed at smoking
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Accounting Information System(AIS) - is a structure that a business uses to collect‚ store‚ manage‚ process‚ retrieve and report its financial data so that it can be used by accountants‚ consultants‚ business analysts‚ managers‚ chief financial officers (CFOs)‚ auditors and regulatory and tax agencies. Components of AIS a. People - the system users - professionals who may need to use an organization’s AIS include accountants‚ consultants‚ business analysts‚ managers‚ chief financial officers
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Mathematics Department Tutorial Sheet No. 3 MAL250(Probability and Stochastic Processes) 1. The percentage of alcohol (100X ) in a certain compound may be considered as a random variable‚ where X (0 < X < 1) has pdf fX (x) = 20x3 (1 − x)‚ 0 < x < 1. Suppose that the selling price of the above compound depends on the alcohol contents. Specifically‚ if 1/3 < X < 2/3‚ the compound sells for c1 dollars/gallon otherwise it sells for c2 dollars/gallon. If the cost is c3 dollars/gallon‚ find the probability
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Which control(s) would best mitigate the following threats? A. The time worked field in a payroll transaction record contained the value 400 instead of 40. As a result‚ the employee received a paycheck for $6‚257.24 instead of $654.32. -Conduct a check between fields‚ separating the salaried and hours and minutes fields. -Conduct a limit check to ensure that the minutes do not exceed the predetermined value of 60 and hours don’t exceed a predetermined value. Regular hours-worked field in weekly
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Solution maf420 Question 1 a) Kettle : 3000 unit per month : 1‚500 kg of Material L Rice cooker : 1000 unit per month : 1‚500 kg of Material L So‚ the ratio is 1:3. If the company wishes to fulfill all the targeted kettle produce‚ therefore they should use all the material available to produce rice cooker for produce that component. From here‚ we can conclude that‚ the company need to scarified 1000 unit of rice cooker to produce 3000 unit of kettle. The total contribution lost is….
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UNIVERSITI TUNKU ABDUL RAHMAN FACULTY OF BUSINESS AND FINANCE ACADEMIC YEAR 2015 / 2016 TUTORIAL 8 Learning Outcome:- On completion of this unit‚ a student shall be able to: Discuss the characteristic and feature of common stock and preferred stock. Apply preferred and common stock valuation. 8-1 How does a right’s offering protect a firm’s stockholders against the dilution of ownership? 8-2 What
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