Unit 1 – P2 – Business Stakeholders Stakeholder Explanation (definition in own words) What the stakeholder wants from Tesco What the stakeholder wants from Oxfam Customers Customers are the people who come to a business for goods/services they want. This is not always for payment. The customer can be another business or an individual. Customers expect the basics from the business which are Value for money‚ product quality etc. Customers would want e.g. Tesco. To have reasonable prices for
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Ethics in Accounting and Financial Decision Making Financial Decision-making is one of the most important things in the business world. In today’s diverse world‚ ethics in accounting and financial decision- making is a process that many organizations have trouble dealing with. Many organizations put emphasis on ethics and the financial decision making process within the organizations. It is expected that all organizations will behave in an ethical manner in the current economy. In today’s business
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ACCA P2 (International) Course Overview GROUP ACCOUNTING – BASIC GROUPS Statement of financial position – standard workings Group structure Retained earnings Net assets Noncontrollin g interests Goodwill Statement of comprehensive income – standard workings Group structure Retained earnings b/fwd Net assets at aq’n Noncontrolling interests Goodwill Consol’n schedule Accounting for associates Group structure Share of retained earnings at each SOFP date
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2012 LECTURER`S NAME: Mrs Atkins ASSIGNMENT: Task 1. Unit3. P2 DATE HANDED IN: 2nd October 2012 INTRODUCTION It is a requirement of the law that all businesses and organisations abide by given limitations and constraints. This report describes two selected limitations; Sales of Goods Act 1979‚ The Data Protection Act 1998 and two constraints; Pressure Groups and The Advertising Standards Authority (ASA). Task Question: P2: Describe the limitations and constraints of marketing Limitations
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Chapter 19: Accounting for Income Taxes Fundamentals of Accounting for Income Taxes * Intro * Pretax Financial Income- income before taxes‚ income for financial reporting purposes‚ income for BOOK purposes * Determine according to GAAP * Taxable Income- amount used to compute income taxes payable * Determine using Internal Revenue Code (tax code) * Differences arise for a simple reason‚ for financial reporting purposes companies use the full accrual
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Does Fair Value Accounting for Non-Financial Assets Pass the Market Test? Hans B. Christensen and Valeri V. Nikolaev The University of Chicago Booth School of Business 5807 South Woodlawn Avenue Chicago‚ IL 60637 Abstract: The choice between fair value and historical cost accounting is the subject of longstanding controversy among accounting academics and regulators. Nevertheless‚ the market based evidence on this subject is very limited. We study the choice of fair value versus historical
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relationship between Governmental Accounting Standards Board (GASB) and Financial Accounting Standards Board (FASB) I realized that both play an important role in the accounting field. There are different objectives for each board and I will explain the similarities and differences. I will describe the role of government regulation in the application of accounting standards and reporting requirements. Finally‚ I will present a situation in a governmental accounting environment in which FASB standards
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Adjusting Accounts and Preparing Financial Statements QUESTIONS 1. The cash basis of accounting reports revenues when cash is received while the accrual basis reports revenues when they are earned. The cash basis reports expenses when cash is paid while the accrual basis reports expenses when they are incurred (and matched with revenues they generated). 2. The accrual basis of accounting generally provides a better indication of company performance and financial condition than does the cash
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ACCA F3 FINANCIAL ACCOUNTING International Stream TUITION CLASS NOTES Appendix The following notes are suitable for both the international and UK streams. There will some terminology differences between the two streams. These are summarised below: |International |UK | |Statement of comprehensive income |Profit and loss
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Lecture 2: Study Week 2 The Accounting Equation & the Double Entry System Objectives for today 1. Analyzing transactions using the Accounting Equation 2. Next Week: How do firms actually measure Income?: Accrual vs. Cash Accounting g 3. Next Week: Determine when a company should record revenues and Expenses: The Matching Principle The Operating Cycle Start with cash and end with more cash Collect cash from customers Purchase inventory Make sales to customers The Recording
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