“certificate of achievement for excellence in financial reporting” by the Government Finance Officers Association? What is the significance of this award? Yes‚ it is significant because it is the highest form of recognition in the area of governmental accounting and financial reporting‚ and its attainment represents a significant accomplishment by a government and its management. (Page 13) b) What are the key issues addressed in the letter of transmittal? Major initiatives in the city of Charlotte
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Week One Exercise Assignment Basic Accounting Equations 1. Concepts. Jean ’s Marine Supply specializes in the sale of boating equipment and acces¬sories. Identify the Basic items that follow as an asset (A)‚ liability (L)‚ revenue (R)‚ or expense (E) from the firm ’s viewpoint. a. The inventory of boating supplies owned by the company. – Asset (A) b. Monthly rental charges paid for store space. – Expense (E) c. A loan owed to Citizens Bank. – Liability (L) d. New computer equipment
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costs Labor costs of assembly-line workers $110‚000 – Direct labor Sales commissions $35‚000 – Period costs Factory supplies used $13‚000 – Direct materials Salaries paid to sales clerks $50‚000 – Period costs (b) Explain the basic difference in accounting for product costs and period costs. Product costs are manufacturing costs‚ direct components‚ direct labor and manufacturing overhead‚ do not become expenditures until the company sells inventory. Period costs are non-manufacturing costs‚ including
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DIPLOMA IN FINANCIAL ACCOUNTING INTRODUCTION TO FINANCIAL ACCOUNTING 1A SUPPLEMENTARY EXAMINATION November 2010 THIS PAPER CONSISTS OF 5 PAGES | DURATION: 2 hrs TOTAL MARKS: 150 PASS MARK: 50% INSTRUCTIONS TO CANDIDATES: 1. Read the following instructions CAREFULLY before answering the paper‚ as failure to act upon them will result in a loss of marks. 2. Please be neat – illegible handwriting cannot be marked. 3. The assessment must be written in either black or blue ink
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Forum #2: Linear Equations in Real Life Pick one of the following problems. Show how you would solve it using a system of linear equations. 1) John spent $201 shirts and pants for work. Shirts cost $27 and pants cost $22. If he bought a total of 8 articles of clothing‚ then how many of each kind did he buy? 2) A school dance has 228 students. There are 63 fewer girls than twice as many boys. How many boys and girls attended the dance? 3) There are 15 animals in the barn. Some are ducks and some
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Jasmine Chai Grade 10 196298501 Patterns within systems of linear equations Systems of linear equations are a collection of linear equations that are related by having one solution‚ no solution or many solutions. A solution is the point of intersection between the two or more lines that are described by the linear equation. Consider the following equations: x + 2y = 3 and 2x – y = -4. These equations are an example of a 2x2 system due to the two unknown variables (x and y) it has. In one of
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(a) Briefly explain what prompted some countries over the world to strongly advocate harmonization of accounting. The important reasons which necessitate harmonization of accounting practices are well contained in the observation made by Saudagaran. “While the initial efforts at harmonization were mainly championed by political bodies and professional accounting organizations‚ current pressures to harmonize are driven by investor groups who use financial statements‚ multinational companies which
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American Intercontinental University Unit 1 Individual Project ACCT 311 – Managerial Accounting March 25‚ 2012 Abstract This paper describes a company who has just started in the month of March called Cats and Dogs Company started by D.C. Dawg. It gives a summary of the cash transactions that took place during the month of March. It also shows how each cast transactions affects the accounting equation and an additional piece of information that is related to the transaction other than the
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Chapter 8 Activity-Based Costing: A Tool to Aid Decision Making Solutions to Questions 8-1 Activity-based costing differs from traditional costing systems in a number of ways. In activity-based costing‚ nonmanufacturing as well as manufacturing costs may be assigned to products. And‚ some manufacturing costs—including the costs of idle capacity—may be excluded from product costs. An activity-based costing system typically includes a number of activity cost pools‚ each of which has its
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17. In a sample of solid Al(NO3)3‚ the ratio of aluminum ions to nitrate ions is (1) 1:1 (2) 1:2 (3) 1:3 (4) 1:6 19. What is the total number of atoms in (NH4)2SO4? (1) 10 (2) 11 (3) 14 (4) 15 22. Write the correct formula for the following binary ionic compounds. (a) Lithium fluoride LiF (b) Calcium oxide CaO (c) Aluminum nitride AlN (d) Beryllium chloride BeCl2 (e) Potassium iodide KI (f) Aluminum oxide Al2O3 23. Write the correct formula for the following binary molecular
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