8/2/2012 Objective of Lecture 2 CLASSIFICATION OF ACCOUNTS & ACCOUNTING EQUATION • By end of lecture 2‚ all students should be able to:(a) Understand the five categories of accounts and able to classify them into the respective categories (b) Understand the accounting equation and the relationship between assets‚ liabilities and owner’s equity. Classifications of accounts • • 1. 2. 3. 4. 5. An account is used to record all information regarding an item. The five major categories
Premium Generally Accepted Accounting Principles Balance sheet Asset
Chapter 2 Cost Terms‚ Concepts‚ and Classifications Exercise 2-2 (15 minutes) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10 . 11 . 12 . 13 . 14 . 15 . Depreciation on salespersons’ cars ................ Rent on equipment used in the factory .......... Lubricants used for machine maintenance ..... Salaries of personnel who work in the finished goods warehouse.............................. Soap and paper towels used by factory workers at the end of a shift ...................... Factory supervisors’ salaries
Premium Costs Inventory USB flash drive
Nature of Accounting and the Accounting Standard Background Accounting is an important part for business and it is dubbed “language” of business activities conducted by firms. People think it is used to communicate business transactions per se to all stakeholders. However‚ some people argue that the functions of accounting are not that easy. Except the communication tool‚ accounting acts as many other difference roles in business. When doing accounting‚ different standard may be used. There are
Premium Balance sheet Business Asset
___________________________ AS-2 ( 1 ) What is a bond? A bond‚ also known as a fixed-income security‚ is a fixed interest financial asset issued by ______________________________________________________________________________ governments‚ companies‚ banks‚ public utilities and other large entities. It is a loan from ______________________________________________________________________________ private investors as opposed to a term loan‚ which is from a bank. ___________________________
Premium 1966 1970 1979
The three films Gittell analyses to make his argument clear about American’s New Favorite Villian Is a Rich Guy are Lone Ranger‚ White House Down‚ and Iron Man 3. For example‚ in the film White House Down‚ Gittell demonstrates how our “new enemy of the moment…doesn’t come from overseas” (478). Gittell indicates that our enemies do not necessary need to be from a foreign country‚ but that our enemies can be among us. In the film‚ White House Down‚ the White House is under attack by 2 domestic terrorist
Premium
U. S. Generally Accepted Accounting Principles (U. S. GAAP) and International Financial Reporting Standards (IFRS) There are numerous companies that use different types of accounting standards or rules. International Financial Reporting Standards (IFRS) and U.S. Generally Accepted Accounting Principles the most popularly used by companies. IFRS is a set of accounting standards that provides a global framework for how public companies prepare and disclose their financial statements. The U.S. Generally
Premium Generally Accepted Accounting Principles Inventory Balance sheet
1. Write a null and an alternative hypothesis for each of the following. Be sure to state each hypothesis in the context of the problem. A. A forestry textbook claims that the mean age of pine trees in Colorado is 30 years. You think the age is greater than that. (2 points) ans: Ho = mean = 30 the mean age of the pine trees is 30 years for Ho Ha : mean > 30 the mean age of pine trees is more than 30 years B. A brochure on anti-aging cream states that the mean age of people in the United
Premium Statistical hypothesis testing Null hypothesis Arithmetic mean
The film trailer explores key ideas that are shown in the movie The Help. The main key ideas portrayed in the trailer include: Women’s rights/Sexism‚ Racism‚ Courage and Friendship. The theme of Women’s rights and sexism is shown at the very beginning of the trailer. We start to see the difference of opinions between the other women in Jackson and Skeeter. A conversation between Skeeter and her mother reveals Skeeters battle for equality. Skeeter says‚ ‘I got a job today‚ writing for the Jackson
Premium Family Mother Race
competition in the market - Domination by Rob Bigbucks (CEO&chairman) - Threatened employees with no pay rises - Significant portion of sales managers salaries are paid in bonuses - The industry is in a recession and it is starting to affect the company – Potentially leading to obsolete stock and overstatement of assets 6.27 Corporate governance and the audit role (1) AC is comprised of independent non-executive directors. (2) Chair of the audit committee is a fellow of the ICAA (3) All members
Premium Auditing Audit Internal control
The Power of Words are Revealed in The Book Thief Using death as the narrator‚ in the book thief‚ demonstrated that death lives within the people. Death comes to someone two times‚ and the third time he takes them away. In the novel‚ the book thief‚ by Markus Zusak illustrates the power of words which are used to create hatred among countries and individuals‚ and also has the ability to bring society close with love‚ and happiness. The power of words is use to establish that in relationship
Premium Nazi Germany Adolf Hitler