CHAPTER 4 Final Accounts Meaning Preparation of final account is the last stage of the accounting cycle. The basic objective of every concern maintaining the book of accounts is to find out the profit or loss in their business at the end of the year. Every businessman wishes to ascertain the financial position of his business firm as a whole during the particular period. In order to achieve the objectives for the firm‚ it is essential to prepare final accounts which include Manufacturing and
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My original purpose for beginning this education was to achieve a master’s degree. I had no thought process put into the idea except simply achieving the degree. As time progressed into my first semester my competitive nature kicked into gear. I did not just want to achieve a degree and slide by the next two years I wanted to excel. I had found my drive again and I wanted to soak up everything I possibly could about technology. A considerable amount of time and effort needed to be put forth
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Learning through reflection Reflection is an active process whereby the professional can gain an understanding of how historical‚ social‚ cultural and personal experiences have contributed to professional knowledge and practice (Wilkinson‚ 1996). Duffy (2007) believes that reflective practice is an active deliberate process of critically examining practice where an individual is challenged and enabled to undertake the process of self-enquiry to empower the practitioner to realize desirable
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Accounts Receivable: There are several controls in accounts receivable. A thorough audit should be daily comparing the checklist and the system records in customers’ accounts. This is to ensure the payment received is applied to the right customer. A second control is to check if customers’ balances in record are true. One simple way is to send current statements to customers monthly. Customers can help identify if there is any discrepancy between their record and the account statement. A
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The Chart of Accounts The increases and decreases in accounting element as affected by a business transaction are recorded in a device called account name‚ account title or account. Each accounting element is composed of several accounts which describe the related economic transactions and events. To maintain uniform account name‚ the business must have a listing of all the accounts it uses to record economic transactions. This listing of all accounts is called “Chart of Accounts.” The Chart of
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Reflective Writing - some initial guidance for students. Jenny Moon‚ University of Exeter Introduction - reflection and reflective writing Reflection lies somewhere around the notion of learning and thinking. We reflect in order to learn something‚ or we learn as a result of reflecting. Reflective writing is the expression on paper/screen of some of the mental processes of reflection. Other forms of expressing reflection are in speech‚ in film‚ in graphic portrayal‚ music etc. The expression
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The Reflective Manager Abstract Reflection and the effect of its application in relation to organization learning have attracted a growing attention. It is recognized that reflection is the vital content for either individuals or organizations learning process. It is believed that reflection is a very important component to accomplish successful working behavior. Moreover‚ reflection is the crucial practice in the process of exploiting learning organizations. In this report‚ the concepts of reflection
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Evaluation of the Effectiveness of Accounting Information Systems International Journal of Information Science & Technology‚ Volume 6‚ Number 2 July / December‚ 2008 49 International Journal of Information Science and Technology EVALUATION OF THE EFFECTIVENESS OF ACCOUNTING INFORMATION SYSTEMS H. Sajady‚ Ph.D. M. Dastgir‚ Ph.D. Department of Economics and Social Sciences Department of Economics and Social Sciences Shahid Chamran University Shahid Chamran University Ahvaz‚ I. R. of Iran
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Ways to Prevent Overdue Accounts Want to improve the way you run your business? For any company‚ having overdue accounts wreak havoc on cash flow and liquid assets. In a small business‚ tracking down the guilty parties is both a financial and physical drain. It’s easy to say "don’t do business with deadbeats"‚ but the realities of things are much more complex. Most firms bring in collection agencies for debt. Be sure to find out: • How information about delinquent accounts will be transferred to
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Reflective Writing The Learning Centre • http://www.lc.unsw.edu.au A great deal of your time university will be spent thinking; thinking about what people have said‚ what you have read‚ what you yourself are thinking and how your thinking has changed. It is generally believed that the thinking process involves two aspects: reflective thinking and critical thinking. They are not separate processes; rather‚ they are closely connected (Brookfield 1987). Justify actions • Solve problems Deeper meaning
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