Generally Accepted Accounting Principles (GAAP) is a standard guidelines and accounting rules that companies used to prepare‚ present‚ and report financial information. By following this framework‚ companies can ensure that any financial information presented is uniformly consistent‚ relevant‚ feasible and objective. Through this standardization‚ corporate financial information can more readily be reviewed and interpreted by investors‚ stockholders‚ banks and other potential creditors and also promotes
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Conflicting Objectives Stacy Monroe BUS 631 May 08‚ 2011 Buyers and Suppliers Relationship A buyers and suppliers relationship is often conflicting but their main objective is for each party to maximize its time‚ resources as well s their cash investments (Ireton‚ 2007). Sometimes these relationships have competing priorities and much like a marriage‚ will put a strain on the relationship. Each is dependent on the other in some way. According to our text‚ to determine whether a particular
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● the motion for debate today is principles based accounting provide/not provide greater opportunity for manager to manage earnings defining the motion: ● Now we as today’s proposition strongly believe that this is true that principle based accounting provide greater opportunity for manager to manage earnings‚ but before we come to our actual argumentation‚ let us first define some important terms in this debate. ● We believe that what is meant by principle based accouting is that Almost
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Mothering Sunday. At the moment‚ I’m working on our Father’s Day chocolates. We need to plan each range really far in advance‚ so I start thinking about the Christmas chocolates in January‚ and sign off the range by June or July. We do a lot of market research‚ and hold tasting sessions in stores around the country‚ to give us a snapshot of
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Creativity is unusual stuff MEDIA CULTURE ASSIGNMENT # 3 Write an essay on ethics behind the advertising campaign of one product or company. Explore both sides of the argument and analyze through the lens of marketing ethics. by Ottavia Milani 22.04.2013 “Creativity is unusual stuff: It frightens. It deranges. It’s subversive. It mistrusts what it sees‚ what it hears. It dares to doubt. It acts even if it errs. It infiltrates preconceived notions. It rattles established certitudes. It incessantly
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Problem 1-7/39 Nikolas Benton launched a new business‚ Benton’s Maintenance Co.‚ that began operations on June 1. The following transactions were completed by the company during that first month. 1. N.Benton invested $41.000 cash in the company ( cash‚ equity (owner capital)) 2. The company rented a funitured office and paid $2.200 cash for June’s rent. ( cost‚ cash) 3. The company purchased $1.860 of equipment on credit ( equipment‚ payable) 4. The company paid $780 cash for this
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21. General-purpose financial statements are the product of a. financial accounting. b. managerial accounting. c. both financial and managerial accounting. d. neither financial nor managerial accounting. 22. Users of financial reports include all of the following except a. creditors. b. government agencies. c. unions. d. All of these are users. 23. The financial statements most frequently provided include all of the following
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5. In accrual-basis of accounting‚ revenues are recorded when a service is performed. 6. Current liabilities are expected to be paid off or eliminated in the next 12 months. [pic] 7. Each time a business records revenue the account Cash is increased. 8. Accumulated depreciation of an asset – its depreciation expense = book value. 9. Financial accounting provides information for people inside the company while managerial accounting focuses on information for
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1. The following transactions have been journalized and posted to the proper accounts. 1. Mark Call invested $7‚000 cash in his new design services business. 2. The business paid the first month’s rent with $700 cash. 3. The business purchased equipment by paying $2‚000 down and executing a note payable for $4‚500. 4. The business purchased supplies for $850 cash. 5. The business billed its clients a total of $4‚000 for design services rendered. 6. The business collected $3‚000 on account from one
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Maycomb’s ‘Unusual’ Disease In the fictional town of Maycomb‚ Alabama‚ the residents seem to have all been infected by the same disease. Harper Lee‚ the author of the very famous novel‚ To Kill a Mockingbird‚ has used several ways of portraying this idea and is able to convince readers that her characters really do have some sort of ‘illness‚’ an illness which affects people’s thoughts on how others should be treated. The novel highlights several issues including racism‚ childhood‚ injustice and
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