paper works. Information systems have been deployed by organizations for achieving efficiency‚ effectiveness‚ enhancing quality and gaining competitive advantage. Similarly‚ the proponents aim to achieve similar objectives for the proposed Personnel Record Management System of DepED‚ Silay City Division. Department of Education aims to provide access to quality and relevant Basic Education through informed and responsive policies and plans‚ effective Technical Assistance to Divisions‚ ensuring productive
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and Preparing Financial Statements QUESTIONS 1. The cash basis of accounting reports revenues when cash is received while the accrual basis reports revenues when they are earned. The cash basis reports expenses when cash is paid while the accrual basis reports expenses when they are incurred (and matched with revenues they generated). 2. The accrual basis of accounting generally provides a better indication of company performance and financial condition than does the cash basis. Also‚ the
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’Stock Records Accuracy’ means: (1) a correspondence between what is present on the computer file and what physically exists‚ in reality‚ (2) that activities which have been recorded as taking place against stock are truly what in fact occurred‚ and (3) that no activity which took place is unrecorded in the system. As we shall see‚ the central stock file is a most important element of any system within the company. The records within the file are ’keyed’ on each product’s unique item code**. That
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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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The Satire of Jonathan Swift Revealed During the eighteenth century there was an incredible upheaval of commercialization in London‚ England. As a result‚ English society underwent significant‚ "changes in attitude and thought"‚ in an attempt to obtain the dignity and splendor of royalty and the upper class (McKendrick‚2). As a result‚ English society held themselves in very high regards‚ feeling that they were the elite society of mankind. In his novel‚ Gulliver ’s Travels‚ Jonathan Swift
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David Blaine Revealed: Magician‚ Stunt-Man‚ Illusionist David Blaine is an iconic American street-performer who has wowed audiences all over the world by doing his terrifying stunts. Blaine has done everything from being buried alive‚ to having stood on a 90 foot pillar for days with no safety net‚ just to name a few. However‚ these outrageous attempts of doing the impossible do not just happen; they require months of training‚ practicing‚ and experimenting. Back in 2003‚ David Blaine attempted
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were made. During the twentieth and twenty-first centuries collaboration was done especially after numerous corporate and accounting disgraces occurred. The purpose of the SOX was to reinforce accountability‚ improve financial reporting and governance in corporations. In addition implementing effective auditing and the encouragement of careful observation of public accounting followed by an enforcement of intense criminal and civil charges liabilities for violations of the securities law was also
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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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of the times‚ people find it difficult to understand the various accounting Concepts. In this coursework‚ I shall analyze these concepts and explain them. First of all I shall discuss the materiality concept. WHAT IS MATERIALITY? Authoritative accounting bodies in the USA such as Financial Accounting Standard Board (FASB)‚ Securities and Exchange Commission (SEC)‚ General Accounting Office (GAO)‚ American Institute of Certified Public Accountants
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Dont make me guess‚ I wont award credit if it isnt obvious. 1. What type of data is found in the general 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
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