Cash Basis vs. Accrual Basis Accounting Cash basis accounting and the accrual basis accounting are two accounting methods used to keep track of a business’s income and expenses. In accrual basis accounting‚ revenue is recorded as it is earned and expenses are recorded when they generate revenue. Under cash basis accounting‚ only transactions involving increases or decreases of the entity’s cash are recorded. One of the major differences is the reporting of net income and net cash flows
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The three philosophical assumptions are ethical assumption‚ epistemological assumption‚ and metaphysical assumption. Ethical assumption is considered what is right or wrong‚ good or bad. According to our text if someone who believes that a crime is related to poverty then poverty itself is bad. I do tend to agree with this assumption‚ the reasoning is I have seen this first hand‚ and it is for the most part true. The text referrers to poor parenting or poverty can lead to crime. Poor parenting
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Running head: ACCOUNTING BASIS Accrual Basis and Cash Basis Accounting Paper University of Phoenix ACC 290 Pretty much any and all businesses need feedback to see how they are doing and determine if any changes are necessary. This information comes as a result of accounting practices. This information is so crucial that a set of rules have been established to make sure that the information is not only properly represented but in a uniform that is easy to understand
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AFRICAN CULTURAL HERITAGE AND SUSTAINABLE HUMAN DEVELOPMENT: AN ETHICAL PARADIGM By Alloy S. Ihuah PhD. Department of Religion and Philosophy Benue State University Makurdi. Nigeria. alloyihuah@yahoo.com 08034017856;08026242031 (i) Introduction African indigenous knowledge system expressed in proverbs‚ names and songs etc. are conscious reflections on specific situations‚ events and experiences in the lives of the people
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cash basis accounting and accrual basis accounting. While both are effective‚ most businesses choose accrual basis accounting because cash basis accounting is not an acceptable form of accounting under Generally Accepted Accounting Principles (GAAP). However a small business may still elect to use this method. (Nobles‚ Mattison‚ Matsumura. 134) Cash basis accounting only records cash transactions‚ which gives little insight to the true financial position of a business. Where as‚ accrual basis accounting
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Personal Philosophical Reflection on the Human Person Human beings are beings that motion through life in search for a purpose; beings that are in continuous search for the grand truth –the truth that will answer questions such as “Why do we choose to exist‚ if the alternative which is non-existence seems to be much less of a hassle?” In our search for truth‚ one of the most common concept tackled is the concept of death. Since all human beings will cease to exist at one point in time‚ it would
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Philosophical Construct Legal justice is concerned with the way in which law distributes penalties for wrongdoing‚ or allocates compensation in the case of injury or damage. Justice in this sense clearly involves the creation and enforcement of a public set of rules‚ but to be ‘just’ these rules must themselves have a moral underpinningThe issue of justice lies at the heart of questions about legitimacy and orderly existence‚ determining whether citizens are willing to accept the law as binding.
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The Merriam-Webster dictionary defines philosophical determinism as “the belief that all events are caused by things that happened before them and that people have no real ability to make choices or control what happens; a theory or doctrine that acts of the will‚ occurrences in nature‚ or social or psychological phenomena are causally determined by preceding events or natural laws; a belief in predestination‚ the quality or state of being determined” (1). Does this mean that whatever action we make
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Accrual Accounting and Income Determination Under accrual basis -Revenues are earned when the seller completes performance required by an agreement. QA- Flying Carpet Tourism company purchased some cares for 24‚ making a down payment of 14 and signed a note payable for the remaining. How do you record this on cash basis once and on accrual basis another. Answer: Accrual basis: Expenses 24 Cash basis: Expenses 14 QB- Company A made sales revenue of 150 thousands
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Is Seeing Believing?: The Philosophical Influences in The Matrix The idea that the real world is an illusion has been a popular topic among philosophers for centuries. Does reality differ from person to person? What is the difference between dreams and reality? What if we what we think we know is actually an illusion created by someone or something else? From Plato to Kant‚ philosophers from all different backgrounds have questions our perception of reality. In more recent years‚ the focus of
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