An accounting information system (AIS) is the system of records a business keeps to maintain its accounting system. This includes the purchase‚ sales‚ and other financial processes of the business. The purpose of an AIS is to accumulate data and provide decision makers (investors‚ creditors‚ and managers) with information to make decision While this was previously a paper-based process‚ most modern businesses now use accounting software such as UBS‚ MYOB etc. Information System personnel need basic
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Accounts receivable is a legally enforceable claim for payment from a business to its customer/clients for goods supplied and/or services rendered in execution of the customer’s order. These are generally in the form of invoices raised by a business and delivered to the customer for payment within an agreed time frame. Accounts receivable is shown in a balance sheet as an asset. It is one of a series of accounting transactions dealing with the billing of a customer for goods and services that the
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Fund Flow Statements Meaning of Fund Fund Flow Statement is widely used tool in the hands of financial executives for analyzing the financial performance of a concern. Funds keep on moving in a business which itself is based on a going concern concept. In broader sense‚ the term “fund” refers to money values in whatever form it may exits. Meaning of Flow of Fund The term ‘Flow’ means change. Thus flow of fund means change in fund or change in working capital. Flow of fund is said to have taken
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National integration is the mean by which the people constituting a nation are brought together so that the whole people are unified by the leadership on the basis of their common system of symbols and institutions which these groups select‚ standardize‚ maintain arid transmit from generation to generation. National integration has two important aspects; firstly‚ the existing pattern of state and government and secondly; the formation and development of the character‚ mind and consciousness of every
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Caribbean integration movement I read with great interest a March 4‚ 2012 article in the Jamaica Gleaner by former Assistant Secretary General of the CARICOM Secretariat‚ where he argues that poor leadership – political‚ institutional‚ and business – has failed the Caribbean integration process. In a recent Facebook discussion I was engaged in‚ a learned colleague questioned the relevance of regionalism. That regionalism is now being put up to question is not only troubling‚ but also speaks to low-level
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EXAMPLES OF ACCOUNTS FALLING UNDER EACH ACCOUNTING EQUATION ELEMENT: Current Assets Cash - A current asset account which includes currency‚ coins‚ checking accounts‚ and undeposited checks received from customers. The amounts must be unrestricted. (Restricted cash should be recorded in a different account.) Petty Cash Fund - A current asset account that represents an amount of cash for making small disbursements for postage due‚ supplies‚ etc. Notes Receivable - An asset representing the
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Chapters Calculus II Home Integration Techniques Applications of Integrals Parametric Equations and Polar Coordinates Series & Sequences Vectors 3-Dimensional Space Misc Contact Me Downloads FAQ About OpenStudy Links My Students Site Map Terms of Use Online Notes / Calculus II (Notes) / Integration Techniques / Integration by Parts Internet Explorer 10 Users : If you
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with the intention of selling them on‚ this would be seen as trading. This should be applied for Ali’s circumstances. Length of ownership If the asset(s) are purchased and resold within a short period of time‚ courts are more likely to consider it trade as in Wisdom V Chamberlin (1968). As Ali buys the vehicles and resells them within a short period of time‚ it would be considered trade under this badge. This should be applied. Frequency of Transactions If a transaction is repeated it is
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|Does depreciation generate actual cash flow in a company and if so how? | |In: Business Accounting and Bookkeeping [Edit categories] | [pic]CFA Designation Certified Financial Accountant Designation www.socfa.org [pic] [Improve] [pic] Answer Depreciation does not generate cash flow. If a million dollar piece of equipment is purchased‚ an accountant
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Environment a. Requires auditors obtain sufficient knowledge to assess the attitude and awareness of the organizations management b. Audit planning c. How do you know they are effective – Corporate governance code pg. 13 i. Board of directors should adopt provisions of SOX ii. Separate CEO and chairman – no role duality iii. Establish independent Audit committee iv. Compensation committee v. Nomination Committee 1. Nominate independent directors e. SAS 78 = COSO framework (FILL OUT) f
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