Accounting Principles The general rules and concepts that govern the Accounting filed are referred to as the Principles of Accounting. The Financial Accounting Standards Board (FASB) using the groundwork of principles and guidelines has formulated these rules. They lay the foundation for sound and ethical accounting practices. The GAAP (Generally accepted accounting principles or "GAAP") consists of three important sets of rules: • The underlying accounting principles • The rules and standards
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PRINCIPLES OF ACCOUNTING(POA)/ACCOUNTING FOR MANAGERS(AFM) Basic Accounting Concepts & Terminologies ACCOUNTING- DEFINITION Accounting means the various technical activities performed by accountants‚ including financial accounting‚ bookkeeping and management accounting. Accounting is considered to be as old as money. However in 1494 Lucas Fra Pacoili‚ an Italian Merchant is universally regarded as the father of modern system of accounting or double entry system of accounting. Accounting has
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Assignment 2 – Accounting Principles and Reporting Standards – Chapter 14: Discussion Questions Wilmary Colon Rivera California College San Diego January 10‚ 2015 ACC213 Nellie Hornbeck Assignment 2 – Accounting Principles and Reporting Standards – Chapter 14: Discussion Questions. 1. In the U.S accounting principles are developed through a cooperative effort between the private sector (business) and the public sector (government). Public sector ---- Government ---- Represented by SEC SEC – Securities
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1. When determining the appropriate hardware components of new information system‚ what role must the user of the system play? 2. Identify two basic characteristic of RAM and ROM? - RAM is temporary and volatile‚ it lose its content (data) is turned off or disrupted. - ROM is nonvolatile and not lost its contests if the power is removed. 3. What is RFID technology? How does it work? - A technology that employs a microchip with an antenna to broadcast its unique identifier and location receivers
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Chapter II Review of Related Literature and Studies Review of Related Literature Parents Portal The Parents Portal gives the parent an opportunity to view their student’s schedules‚ performance‚ and statement of accounts. Parents also have access to review current contact information‚ which may be used to help the school maintain accurate contact data. Online Reporting is the innovative use of media and communication technologies such as emails‚ blogs‚ websites and text alerts in
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1 What changes when an ion is formed from an atom? A. Neutrons are lost or gained. B. Protons are lost or gained. C. The nucleus disintegrates. D. Electrons are lost or gained. E. Either protons or electrons are lost or gained. 2 When comparing a 10.00 g sample of iron with a 10.00 g sample of lead: A. each sample has the same number of atoms. B. there are more iron atoms than lead atoms. C. there are more lead atoms than iron atoms. D. it is not possible to tell which sample contains
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ACC 551 Midterm Exam Solution Follow the link below http://www.tutorialsguider.com/downloads/acc-551-midterm-exam-solution/ ACC 551 Midterm Exam Solution 1. Question :(TCO C) Under current accounting practice‚ intangible assets are classified as 2. Question :(TCO C) Which of the following intangible assets should not be amortized? 3. Question :(TCO C) The intangible asset goodwill may be 4. Question :(TCO C) ELO Corporation purchased a patent for $90‚000 on September 1‚ 2008. It had a useful
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in the United States only. the Dietary Reference Intakes are to be used on food labels. the Daily Values are a better way of determining nutrient goals of individuals. the Dietary Reference Intakes do not account for age or gender. Question 2 1 out of 1 points When referring to the DRI recommended intakes‚ it is important to remember that: Selected Answer: they are based on the latest available scientific research. Answers: they are designed to help an individual recover from an
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112: PRINCIPLES OF ACCOUNTING 1 ACCOUNTING THEORY NOTES (a) International Accounting Standards and International Financial Reporting Standards. The foreword to accounting standards defines Accounting Standards as Authoritative statements of how particular types of transaction and other events should be reflected in financial statements. Accounting Standards are developed to achieve comparability of financial information between and among different organizations. International Accounting Standards
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Case Study 2: Xerox [Type the document subtitle] 10/7/2014 Organizational Behavior Fall 2014 Professor Falcone Case 2: Xerox Q 1: How would Xerox define Diversity? How has the definition changed over the years? A 1: Diversity means more than race and gender. Diversity means creating an environment where all employees can grow to their fullest potential. The first chairman of Xerox‚ Johnson C. Wilson had the commitment to diversify. Chairman Wilson took proactive steps to create
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