CHAPTER 7 Revenue and Collection Cycle LEARNING OBJECTIVES Review Checkpoints Exercises‚ Problems‚ and Simulations 1. Discuss inherent risks related to the revenue and collection cycle with a focus on improper revenue recognition. 1‚ 2‚ 3 59 2. Describe the revenue and collection cycle‚ including typical source documents and controls. 4‚ 5‚ 6‚ 7‚ 8 54‚ 55‚ 61‚ 63‚ 64‚ 66 3. Give examples of tests of controls over customer credit approval‚ delivery‚ and
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CHAPTER 1 INTRODUCTION 1.0 Background of the Study Picardal Institute of Science and Technology (PIST) is an institution founded last July 12‚ 2008 and was located at the 2nd floor of Michaella’s Plaza‚ Andres Bonifacio Avenue‚ National Highway‚ Tibanga‚ Iligan City‚ province of Lanao del Norte‚ Philippines. This institution offers different courses under Commission on Higher Education (CHED) and Technical Education and Skills Development Authority (TESDA) like Bachelor of Science in Information
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CHAPTER 3 The Accounting Information System ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions 1. Transaction identification. 1‚ 2‚ 3‚ 5‚ 6‚ 7‚ 8 2. Nominal accounts. 4‚ 7 3. Trial balance. 6‚ 10 4. Adjusting entries. 8‚ 11‚ 13‚ 14 5. Financial statements. 6. Closing. 12 7. Inventory and cost of goods sold. 9 8. Comprehensive accounting cycle. *9. Brief Exercises Exercises Problems 1‚ 2 1‚ 2‚ 3‚ 4‚ 17 1 2‚ 3‚ 4 1‚ 2‚ 7‚ 8 5‚ 6‚ 7‚ 8‚ 9‚ 10‚ 20 1‚ 2‚ 3‚ 4
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CHAPTER 2 Conceptual Framework for Financial Reporting ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics 1. 2. 3. 4. 5. 6. Conceptual framework– general. Objectives of financial reporting. Qualitative characteristics of accounting. Elements of financial statements. Basic assumptions. Basic principles: a. Measurement. b. Revenue recognition. c. Expense recognition. d. Full disclosure. Accounting principles– comprehensive. Constraints. Assumptions‚ principles‚ and constraints. 28‚ 29‚ 30 10 11 Questions
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Unit 7 Chapter Exersises NT 1430 Tyrel Cain (19103625) Tyrel Cain NT1430 4/30/2015 Unit 7 Chapter Exercises Chapter 22 1. What are three reasons to use NFS? a. NFS reduces storage needs. b. NFS simplifies system administration. c. NFS makes backing up data simpler. d. NFS improves data consistency and reliability. 2. Which command would you give to mount on the local system the /home? Directory hierarchy that resides on the file server named plum? Assume the mounted directory hierarchy will
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------------------------------------------------- Chapter 7 Case Study - 1. Review the data-flow diagrams you developed for questions in the Petrie’s Electronics case at the end of Chapter 6 (or diagrams given to you by your instructor). Study the data flows and data stored on these diagrams and decide whether you agree with the team’s conclusion that the only six entity types needed are listed in the case and in PE Figure 7-1. If you disagree‚ define additional entity types‚ explain why they are necessary‚ and modify PE Figure 7-1 accordingly
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CHAPTER 1 Financial Accounting and Accounting Standards ASSIGNMENT CLASSIFICATION TABLE Topics 1. 2. 3. 4. 5. Subject matter of accounting. Environment of accounting. Role of principles‚ objectives‚ standards‚ and accounting theory. Historical development of GAAP. Authoritative pronouncements and rulemaking bodies. Role of pressure groups. Ethical issues. Questions 1 2‚ 3‚ 29 4‚ 5‚ 6‚ 7 8‚ 9‚ 10‚ 11 12‚ 13‚ 14‚ 15‚ 16‚ 17‚ 18‚ 19‚ 20‚ 21‚ 22‚ 23 23‚ 24‚ 25‚ 26‚ 27‚ 28 30 Cases 4 6‚ 7 1‚ 2‚ 3‚ 5 8
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BSIT- 3 PAYROLL SYSTEM PRELIMINARY STUDY A.)Introduction: Business are arising in all the sides of the globe. Man power are very much well present in every business there is. This project allows the speed up the process of calculating payrolls with the capability of generating reports. B.) Problem definition In today’s world. The bigger the company‚ the higher the possibility that the calculations of salaries to employees would be a great disaster to the company itself
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America chapter 7 guide Chapter Objectives – As you read the chapter‚ you should be able to… 1. Explain the deeply rooted historical factors that moved America toward independence from Britain. 2. Describe the theory & practice of mercantilism & explain why Americans resented it. 3. Describe the goals of the King‚ Prime Minister‚ & Parliament. 4. Explain why Great Britain attempted tighter control & taxation of Americans after 1763. 5. Describe the methods of colonial
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Cost of new equipment $200‚000 Expected life of equipment in years 5 years Disposal value in 5 years $40‚000 Life production - number of cans 5‚500‚000 Annual production or purchase needs 1‚100‚000 Number of workers needed 3 Annual hours to be worked per employee 2000 hours Earnings per hour for employees $12.00 Annual health benefits per employee $2‚500 Other annual benefits per employee-% of wages 18% Cost of raw materials
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