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
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Stella Omusa is another interesting case study. As she pursued early schooling‚ Stella never had any idea of her orientation. Even her parents and peers could not help Stella on the same. Luckily‚ as a bright student‚ it was not difficult to secure admission into a public university. However‚ it is not clear whether Stella pursued a degree in bachelor of commerce‚ accounting option by choice or just as a matter of natural flow of events. Most likely though‚ it was the course she was selected to
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Snapshot of Wackenhut Corporation (worksite) Sprint PCS MBA 454 Business Research and Application BSA 518 Mr. Miner 24 February 2010 Snapshot of Wackenhut Corporation (worksite) Sprint PCS History of Wackenhut Corporation • Found Special Agent Investigators in 1955 by George R. Wackenhut and (3) FBI colleagues. • Found Wackenhut Corporation and went public in 1967 • 1960s recognized that he needed to provide specialize service to the United States Government Installations a division
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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
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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
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Home Depot is the leading supplier of home improvement building materials and related tools and supplies‚ the economy has greatly affected the company’s revenue and generating lower profits. However‚ a close watch on market trends will help the company foresee challenges or issues the company might encounter so steps for a successful short-term and long-term goals will be reached. During the initial stages‚ Home Depot dominated the do-it-yourself‚ home improvement market. Although Home Depot entered
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1. PROBLEM STATEMENT: Consumer perception towards Tablet PC and also to find that which factors consumer consider before purchasing of Tablet PCs 2. STUDY INTRODUCTION & BACKGROUND The 21st century is known as the most advanced century of man. With constant inventions & innovations the standard of living has improved to a huge extent. Development of new concepts in various fields has made our life easier & hassle free. The major innovations have taken place especially in
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PC vs. MAC: The Great Debate Want to start a fight between computer users? Bring up one simple question: PC or Mac? Windows advocates will start accusing Mac users of being members of a fan boy cult. Mac fans will maintain that Windows users are the undiscerning owners of hunks of generic junk. It’s a pretty undignified squabble; not unlike talking about religion or politics. Myself‚ I prefer to be diplomatic: I recommend both Windows PCs and Macs all the time‚ and use them both‚ too. The PC-or-Mac
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http://jobview.monster.com/Senior-Accountant-Manager-Job-San-Juan-PR-US-130837373.aspx Questions and answers 1. Under what conditions is direct labor a valid basis for allocating overhead? Direct labor is a valid basis for allocating overhead when: (a) direct labor constitutes a significant part of total product cost‚ and (b) there is a high correlation between direct labor and changes in the amount of overhead costs. 2. What has happened in recent industrial history to reduce the usefulness
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RUNNING HEADER: ETHICAL DILEMMA Home Depot Ethical Dilemma Problem Statement In 2008‚ the CEO‚ Frank Blake was implicated for failing to report employee abuse. The allegation indicated tends from forgery‚ falsifying documents‚ harassment‚ and retaliations. Blake was aware of‚ and in numerous instances‚ participated in the alleged abuse‚ cover-ups and retaliatory actions‚ which involve the stockholders to demand the termination of Blake. His violation of ethics breaches were numerous‚ deliberate
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