framework for the relevant financial year G. Fiscal Policy Strategy Statement for the financial year H. Medium Term Fiscal Policy Statement I. Medium Term Expenditure Framework Statement J. Expenditure Budget Volume-1 K. Expenditure Budget Volume-2 L. Receipts Budget M. Budget at a glance N. Highlights of Budget O. Status of Implementation of Announcements made in Finance Minister’s Budget Speech of the previous financial year. The documents shown at Serial A‚ B‚ C and D are mandated by Art. 112‚113‚ 114(3)
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cycle includes the activities involved in the exchange of goods and services with customers and the realization of the revenue in cash. The classes of transactions in this cycle for a merchandising company are sales‚ sales adjustments‚ and cash receipts. The primary accounts affected by these transactions are sales‚ accounts receivable‚ cost of sales‚ inventory‚ cash‚ sales discounts‚ sales returns and allowances‚ bad debts expense‚ and allowance for uncollectable accounts Specific audit objectives
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Previous Occurrences/Prior Claims: Ms. Bigby was questioned if she had any prior claims she may have filed for any other losses. Ms. Bigby went on to say that she did not recall as she had discussed this information with her adjuster in this case. As the investigator attempted to refresh her memory by asking if the claim was through Travelers Insurance‚ Ms. Bigby stated that she does not believe that she had to disclose this information to this investigator and thought that this interview was about
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services like shipping‚banking‚tourist etc. 3. UNILATERAL TRANSFERS: These are those payments which are made without expecting anything in return of it like donations ‚gifts etc. 4. CAPITAL TRANSFERS: Capital transfers are concerned with capital receipts and capital payments. It includes the transfer of assets. COMPONENTS OF BALANCE OF PAYMENT: 1. CURRENT ACCOUNT: current account deals with the movement of exports and imports of goods and services. Merchandise may be private or government .It
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14-1 a. The bill of lading is a document prepared at the time of shipment of goods to a customer indicating the description of the merchandise‚ the quantity shipped‚ and other relevant data. Formally‚ it is a written contract of the shipment and receipt of goods between the seller and carrier. It is also used as a signal to bill the client. The original is sent to the customer and one or more copies are retained. b. A sales invoice is a document indicating the description and quantity of
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4. Production and Material Planning Planning Process Aggregate production plan Master production schedule Material requirements plan Capacity plan Realistic No Yes Execute capacity plans Execute material plans Master Production Schedule A time-phased production plan that specifies how many of‚ and when to build‚ each end item Must be in accordance with the aggregate production plan‚ which sets the overall level of output in broad terms MPS Example 1 Months Aggregate Production Plan (shows
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from ordinary concepts. The receipt of $8000 will not be included in the assessable income of Nick.
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INTRODUCTION Among the investment avenues‚ commodity futures trading is a fast growing sector with huge untapped potential‚ along with the financial markets. The major difference between commodity and financial markets is that‚ in commodities futures physical delivery takes place where as in the capital market it does not. In these markets‚ there are farmers‚ industrialists‚ warehouses‚ consumers‚ dealers and traders‚ who buy and sell commodities. There are warehouses‚ which stores commodities
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revenue cycle Sales Order 1 Credit / Customer Service 2 REVENUE CYCLE (SUBSYSTEM) Cash Receipts/ Collections 6 Shipping 3 Billing/ Accounts Receivable 4/5 Journal Vouchers/Entries How do we get them? • Billing Department prepares a journal voucher: Accounts Receivable Sales DR CR • Inventory Control Dept. prepares a journal voucher: Cost of Goods Sold Inventory DR CR • Cash Receipts prepares a journal voucher: Cash Accounts Receivable DR CR Revenue Cycle (Subsystem)
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Chapter 1 THE PROJECT AND ITS BACKGROUND Brief Description of the Project Today’s technology has indeed made a great impact on our way of living. From stalls‚ caravans‚ public and super markets and convenience stores‚ selling of goods has moved on to E-tailing or E-commerce. Filipinos have not been left behind in this modern type of business transactions. AC Nielsen’s current market survey has shown that 78% of Filipinos are involved in shopping and doing business transactions online.
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