Accounting Homework Individual Chapter 7 Question 1&2 1. (a) What are generally accepted accounting principles (GAAP)? In the U.S.‚ generally accepted accounting principles‚ commonly abbreviated as US GAAP or simply GAAP‚ are accounting rules used to prepare‚ present‚ and report financial statements for a wide variety of entities‚ including publicly-traded and privately-held companies‚ non-profit organizations. (b)What bodies provide authoritative support for GAAP
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2-1 BU8101 Accounting: A User Perspective Lecture 2 The Accounting Cycle Wednesday‚ 17 August 2011 Mrs. Ho Yin Kheng S3-01C-88 Nanyang Business School Nanyang Technological University Email: yklau@ntu.edu.sg Tel: 67905694 2-2 LO 2 Lecture Outline 1. Analyzing Business Transactions 2. Recording Process a. b. c. d. e. f. The Source Document The journal The accounts Debit and Credit rule Recording process illustrated Unadjusted trial balance 3. Adjusting entries
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The Supreme Court ruled that the death penalty is not a violation of the Eight Amendment’s ban on cruel and unusual punishment. The death penalty is when a convicted criminal is put to death by the court. The execution method may not inflict unnecessary pain on the criminal. The criminal sentenced to death can wait several years or sometimes decades on death row before being executed. The juvenile death penalty is a controversial issue all over the country. Studies show that the characteristics
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Corporate Accounting III Assignment 2 Question 1: What is the difference between direct and indirect NCI? Under AASB127‚ the group is required to prepare the consolidation statement when parent entity acquires shares in the subsidiary. There are two parties who own shares in the subsidiary if it’s not a wholly-owned subsidiary consolidation. One is the parent entity while the other is non-controlling interest. Non-controlling interest (NCI) is defined as “the portion of the profit or loss and
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Evolution of Management Accounting discipline and its relationship with other functions in organizations The challenges of the competitive environment in the 1980s should cause us to examine our traditional cost of accounting and management control systems. The DuPont Corporation (1903) and the reorganization of General Motors (1920) provided the opportunity for major innovations in the management control of decentralized operations‚ including the ROI criterion for evaluation of performance and
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The world of technology is undoubtedly changing very fast and every day. It has become involves or even attaches to our everyday life. Most of the times‚ technology are useful; it allows us to do things faster‚ better‚ and differently from the way our parent did ten years ago. However‚ everything in life seemed to have a bad thing attached to it. Every day it becomes more obvious that people use technology as a short cut to their every task‚ especially in the world of communication. Such as Email
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an event which has influenced you or a family member/friend/person who had a significant influence on you. Last September 2012‚ my brother came to Singapore. Hence I spent most of the weekends with him. During our free time‚ he shared with me what he fathomed from his reading. Among that were his lessons about “Principles”. My first lesson was that principles‚ which are invariant
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Health Organization Case Study Research a health Health Organization Case Study Research a health care organization or a network that spans several states within the U.S. (Example: United Healthcare‚ Vanguard‚ Banner Healthcare‚ etc.). Harvard Business Review Online and Hoover’s Company Records‚ found in the GCU Library‚ are useful sources. You may also find pertinent information on your organization’s webpage. Review "Singapore Airlines
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The basic principles of an accounting information system include all of the following except | | | Student Answer: | | cost effectiveness. (Cost effectiveness is one of the basic principles of accounting information systems.) | | | | flexibility. (Flexibility is one of the basic principles of accounting information systems.) | | | | useful output. (Useful output is one of the basic principles of accounting information systems.) | | | | periodicity. (Correct! Periodicity
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Mr. Malter exhibits a quality of insightful and scholarly understanding which makes him looked up to especially by his son. Possessing remarkable intellect‚ Reb Saunders‚ his son Danny‚ and Mr. Malter display their various kinds of knowledge in The Chosen by Chaim Potok. (respected‚ admirable‚ appreciated‚ honored‚ valued) By family inheritance‚ Reb Saunders acquires the position of tzaddik in his community‚ a righteous one‚ and obtains
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