“Generally Accepted Accounting Principles (GAAP) is the methods‚ rules‚ practices and other procedures that have evolved to govern the preparation of financial statements” Justify the statement with suitable examples. Accounting is the language of business and it is used to communicate financial information. In order for that information to make sense‚ accounting is based on some fundamental concepts. Transactions are recorded in accounts‚ following certain fundamentals concepts and conventions
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Accounting Assumptions‚ Principles‚ and Constraints The basic assumptions of accounting provide a foundation for recording the transactions and preparing the financial statements. There are two main assumptions of accounting: Monetary unit assumption and Economic entity assumption (Weygandt‚ J. J.‚ Kimmel‚ P. D.‚ & Kieso‚ D. E. (2008)). The monetary unit assumption requires a company to include accounting records that show transaction data. Next‚ is the Economic entity assumption. It requires
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The right against cruel and unusual punishment and the death penalty is a highly discussed matter‚ especially with the Supreme Court. The death penalty is a highly controversial topic being discussed all over the country. There are 32 out of the 50 states that consent to execution for first degree murder‚ treason‚ kidnapping‚ aggravated rape‚ the murder of a police or corrections officer‚ and murder while under a life sentence are punishable by the death sentence in some jurisdictions. Where states
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How has the church threatened medical science? In the beginning there was a prohibition against anyone other than a Doctor of Theology making pronouncements on that subject and many unsuccessful attempts to ensure medical work was carried out only by qualified physicians. The church has hindered medicine because it taught superstitious causes; the ancient greeks had looked for rational explanations. The church taught the opposite - that there were supernatural explanations for everything. People
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ukessays.com http://www.ukessays.com/essays/accounting/history-of-accounting-traces-to-ancient-civilizations.php History of Accounting -Traces To Ancient Civilizations Various attempts have been made to locate the place and time of the birth of the double-entry system resulting in various scenarios. Most of these scenarios recognize the presence of some form of record keeping in most civilizations dating back to about 3000 BC. Included are the Chaldean-Babylonian‚ Assyrian and Sumerian
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Basic Accounting Principles and Concepts http://misscpa.com/basic-accounting-principles-and-concepts/ Accounting is called the language of business that which communicates the financial condition and performance of a business to interested users‚ also referred to as stakeholders. In order to become effective in carrying out the accounting procedure‚ as well as in communicating the financial information of the business‚ there is a widely accepted set of rules‚ concepts and principles that
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set of accounting criteria used to develop medical centers financial statements are known as generally accepted accounting principles (GAAP). GAAP are a mixture of respected criteria created by Securities and Exchange Commission (SEC) and accountants. The SEC has authority granted by The Securities Act of 1933 and the Securities Exchange Act of 1934‚ to determine reporting and disclosure requirements. Oversight is the general functions of the SEC‚ granting the Governmental Accounting Standards
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representations of perspectives are designed to provoke an intended response.” To what extent does this statement relate to your study of at least one of Hughes’ poems and one related text of your own choosing? In some texts authors have the intention to evoke a personal understanding in the audience. However‚ the personal experience varies between each individual creating conflicting ways in response to a text. These responses to the messages from the authors are shaped through personal experience and
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part in the game of Football. The game of football has allowed my life to become more enjoyable and exciting for three reasons. One reason football has been so impactful on my life is due to all the great relationships I have gotten out of it. Whether engaging in two a days in 85 degree heat or coming off a painful loss; the friends I have made from football have helped all of us to stick together and support one another. Secondly‚ football has been so impactful on my life due to the lessons the
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My lecture is about unusual festivals. Could you give me some examples for unusual festival? -Yes that’s true -Don’t you have any idea? I’m sure you have seen some unusual festivals on TV but now you might forgot them. Forexample you imagin a lot of people gathering in a city throwing tomatos at each other just for fun. Have you ever participated in an unusual festival? -Yes: great this is such an interesting experience I’m sure you never fogot that day. -No: no problem
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