Financial accounting is one kind of accounting different from the management accounting in the accounting system. As management accounting is for “internal” whereas financial accounting is for “external”. The following is a detailed explanation and analysis of the major objective and role of financial accounting. The purpose of financial accounting is to measure the performance of the entity and therefore provides the financial information to different stakeholders. Stakeholders will have their
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Reflective Thanking Essay I am a good leader. One who takes initiative in getting the tasks completed while keeping the morale tempo up and making it a good experience to all. I’m one who will take criticism and can listen even though I may not like what I’m hearing‚ but in turn apply those criticisms and make a better me. Simply being said‚ I like to take charge‚ inspire those around me‚ complete the mission and wait for the next challenge. Thank my mother for who I am‚ she inspired the person
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1. | ch01001 | | Financial accounting information is: | | | Student Response | Value | Correct Answer | Feedback | A. | Designed to assist investors and creditors. | 100% | | | B. | Not used by managers and in income tax returns. | | | | C. | Called "special-purpose" accounting information. | | | | D. | Not applicable to individuals. | | | | | Score: | 2/2 | | | 2. | ch01003 | | Generally accepted accounting principles: | | | Student Response |
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English Reflective Essay Florida is portrayed as a fantasy land where Mickey Mouse greets you around every corner and where Cinderella actually lives‚ where days go by without a single drop of rain and the sky is consistently perfectly blue. However this was the farthest thing from my mind as I sat in an immense carbon-emmiting monster whose air conditioning has spluttered and died and while the heavens poured the air was so thick and mucky that flies were sticking to the windshield as we drove
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d. accounts payable. ANS: Q. Which of the following is considered an asset? a. Accounts payable b. Prepaid expense c. Bad debt d. Stockholders’ equity ANS: Compiled by Manek. 2011. P age |1 ACCY111 / SAMPLE TEST PAPER Q & A Q. The role of accounting in business is best defined as a. an information system that provides reports to stakeholders about the economic activities and condition of a business. b. a method of forecasting the future profitability of a company. c. the policies‚ procedures
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1st of February and today is 1st of March of the same year. You have just paid him his salary. What accounts will this transaction impact? Answer : Engineers cash account increases and company balance decreases . In terms of accounting head : (DR) Salary account (L) (CR) operating expense account ( Bank) (A) Bravo Corporation borrows Rs 1‚000‚000 on 1st Jan 2013 from a bank for corporate
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raised by the transformation from U.S. Generally Accepted Accounting Principles (US GAAP) to International Financial Reporting Standards (IFRS) in the timber industry. I will cover the following topics: different accounting treatment under U.S. GAAP and IFRS‚ the influence on investment decisions‚ Plum Creek’s reason for the opposition against transformation‚ and conclude with my preferred accounting treatment under different roles. ACCOUNTING TREATMENT The concern is mainly on recognition of the
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Cooking Demo Reflective Essay The group was formed pretty fast‚ I believe there was not many consideration in choosing the group member. As we have not know everybody in the class very well‚ we just used our instinct to formed the group. When the group has formed‚ the transactional between group members happened‚ we started to introduce ourselves and exchanged contact information. Then‚ as we already know the theme of the presentation‚ we just talked about the topic that we going to choose. The
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Nevertheless I’m tenacious and resilient‚ although this will be the third time enrolling after withdrawing in 2014 as a full time student. I’m enrolled in three other online classes in which accommodates my work schedule. I’m taking Managerial Accounting‚ College Algebra and Introduction to Probability and Statistics courses for my Business Administration major‚ seven credits away for completion. While trying to balance being a young mom of a teenage son who is a honor high school student and being
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Final Reflective Essay To begin with‚ I would like to say that the course of International Negotiations was very important for me. It lasted only two weeks but this time was enough to understand many things‚ to have good lessons and real negotiations that changed my life. It is not “loud words”; it is what I feel like now. First of all‚ the course began with meeting people of the group‚ learning nationalities and understanding what is real international negotiations are. In different tasks
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