ACCOUNTING NOTES FOR MY PERSONAL USE 4/12/2013 ELISHA VERIWA | Introduction to Accounting Accountancy is the process of communicating financial information about a business entity to users (stakeholders) such as shareholders and managers (Elliot‚ Barry & Elliot‚ Jamie: Financial accounting and reporting). Accounting has been defined as: * the art of recording‚ classifying‚ and summarizing in a significant manner and in terms of money‚ transactions and events which are‚ in part at least
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ledger a.a chronological record of all transactionsb.the balance of each account in the chart of accountsc.budget records for each account in the chart of accountsd.subsidiary details supporting a control account 2. Which steps in the Financial Accounting Process are in the correct sequence based on closing the accounts and determining timing differences prior to issuing financial statements a.record the transaction‚ post to the ledger‚ prepare the adjusted trial balance‚ enter adjusting entries
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The formation of the debit and credit concept In this simplified form we can begin to see what the mathematician and Father of Accounting (Luca Pacioli) saw in 1494 when he codified the double-entry bookkeeping system. It is his codified system that outlined the rules for applying debits and credits when recording the financial transactions of a business in the double-entry bookkeeping system. Now remember that Luca’s book in 1494 was written and published in Latin and at a time when the concept
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Milgram’s experiment is an experiment which is extremely controversial. Although many believe that this experiment was unethical‚ it was not. This experiment is thought to be unethical as individuals were hurt and there was lying and deceit involved. Therefore‚ many say that an experiment like this is unethical. Furthermore‚ besides for the students being injured‚ the teachers also did as they would develop psychological damage from what they did. Additionally‚ the fact that this experiment was done
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take a standardized test worry about the strategies other than using what they’ve learned in class to come to a conclusion on an answer. The Standardized tests that are given to students are unethical because they alienate students whose family has a low income and kids who are of ethnicity. They are also unethical because they rely heavily on false data brought in by students test scores. Schools that have high test scores are given more money by the federal government and schools that have low test
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potential and the ability to meet anticipated funds flows often can be more easily assessed by analyzing the consolidated statements. Q3-3 Parent company shareholders are likely to find consolidated statements more useful. Noncontrolling shareholders may gain some understanding of the basic strength of the overall economic entity by examining the consolidated statements; however‚ they have no control over the parent company or other subsidiaries and therefore must rely on the assets and earning power
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WorldCom: Organizational Culture and Unethical Safeguards Organizational culture is one of four influences whether an ethical or unethical behavior will be made. WorldCom’s demise‚ deliberately overstating their income by $7 billion between 1999 and 2002; and their once valued stock of $180 million becoming nearly worthless‚ can attribute a significant amount of their failure on their “dis”organizational culture. Corporations worldwide who do not think this type of fraud can happen at the hands
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A soldier has an obligation to protect their country. If this is their top obligation‚ then under deontology torture can be justified. Some‚ however‚ may have an obligation to God. If this obligation out ranks the first then deontology would say that torture is not justified. Categorical imperative would not be followed by all people. There are people willing to commit torture‚ but would not want others committing torture. On the other hand‚ some people believe torture is wrong all around. They
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MAA103 & MAAP103 - Accounting for Decision Making ASSIGNMENT – TRIMESTER TWO‚ 2011 (Relates to Topic 4) Represents 20% of the assessment for this unit DUE DATE: ASSIGNMENT PLANNER: MONDAY 1 AUGUST‚ BY 5.00pm FINAL ASSIGNMENT: THURSDAY 8 SEPTEMBER‚ BY 5.00pm NOTE the following general submission points: 1. 2. 3. 4. 5. Assignment can be completed in groups of no more than THREE students. Students CAN NOT complete assignment with students from other lecturers classes. Only ONE hardcopy of
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quality and is a huge supply‚ thus climbed Shell Oil-Nigeria to the top in 1994 as the company that made more money than any company globally. However‚ the company fell short of its corporate social responsibility by 1996 by getting involved with unethical practices (Arvidsson‚ 1996). This paper discusses how shell abused the environment and the human right of the Nigerian people and manipulated local government for profit. According to Draft‚ CSR is an extension of the idea of managerial ethics and
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