Use and Abuse of Credit The use of credit cards is much more dangerous than use of checks or cash. Paying with cash is very easy; for knowing how much money is available and how much can be spent makes it very hard to get into debt. When paying with a check the process is a bit trickier; the exact balance has to be kept on the account at all time. Knowing what this balance is and continuously replenishing it can be quite hard. Nevertheless‚ even with a check consumers cannot get into a lot of trouble
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-09:30 PM Location: Baskin Engineering Building Room 109 Instructor: TAs. * Due to space limit: you should arrange Date and time(All class are same) Class Objectives • What is Competitive Advantages • Porter’s competitive forces model • Companies develop competitive strategies using information systems • The value chain and value web models‚ strategic information system applications • synergies‚ core competencies‚ and networkbased strategies to achieve competitive advantage? • Competing
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Liabilities + Incomes Asset named Cash Balance created and Liability Shareholder’s Capital gets created 100000 + 0 = 100000 + 0 b Purchased inventory on account for $200‚000. Assets + Expense = Liabilities + Incomes Asset named Inventory created and Liability Vendor payable gets created 200000 + 0 = 200000 + 0 c Sold inventory for $200‚000. $75‚000 of the sales were for cash and $125‚000 were on account. The inventory sold had cost Stewart
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CONTENTS OF LETTER OF CREDIT 1. 2. 3. 4. 5. 6. Name and Complete address of opening bank‚ with other contacts etc. Test Code. Number of Letter of Credit. Date of issue of Letter of Credit. Sequence of Total (Number of L/Cs being transmitted) Form of documentary credit. Revocable or Irrevocable. 7. Applicable rules. Latest UCP 8. Date and place of expiry. 9. Applicant’s Name and Complete address. 10.Beneficiary’s Name and Complete Address. 11.Currency Code and amount. EUR 50000 12.Bill of Exchange
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SAMPLE BALANCE SHEET Most accounting balance sheets classify a company’s assets and liabilities into distinctive groupings such as Current Assets; Property‚ Plant‚ and Equipment; Current Liabilities; etc. These classifications make the balance sheet more useful. The following balance sheet example is a classified balance sheet. Sample Balance Sheet: Example Company Balance Sheet December 31‚ 2010 ASSETS | | | LIABILITIES | Current Assets | | | Current Liabilities | | | Cash
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Since the advert of credit cards‚ using them as a means of purchasing goods has increasingly become adopted by a growing number of consumers. We have witnessed incredible advances in the field of credit cards that make our life easier. Nevertheless‚ there are disadvantages that must also be taken into account. There are many benefits to shopping on credit. To begin with‚ owing a gredit card gives you the convenience to buy now whatever you want and pay in the future. For example‚ a newly married
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lending proposals banks apply certain general principles of good lending‚ often referred to as the canons of lending. Although not all of the principles can be applied by corporate credit managers to requests for trade credit‚ most are generally applicable. They provide an excellent framework for assessing all credit proposals. Because the purpose of lending is to earn interest and make a profit‚ it follows that principles of good lending should be concerned with ensuring‚ so far as possible
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A balance sheet is a financial statement that reports the assets‚ which are resources owned by a business‚ liabilities‚ and stockholders’ equity at a specific date. Examples of assets would be computers‚ delivery trucks‚ furniture‚ and buildings. A balance sheet has two categories: Assets‚ liabilities‚ and stockholders’ equity. Liabilities are the debts and obligations of a business. Liabilities represent c claims of creditors on the assets of business. Examples of liabilities would be notes
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Final Assessment Question 1 Carey Manufacturing‚ Inc.‚ is considering reorganizing its plant into manufacturing cells. The following estimates have been prepared to evaluate the benefits from the reorganization: Before the change After the change Total annual sales $ 700‚000 $850‚000 Costs as percentage of sales: Direct materials 10% 9% Direct labor 6% 4% Support costs 9% 7% Work-in -process inventory $200‚000 $120‚000 Inventory carrying costs are estimated
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ACCT 3512 Chart of Accounts Accounts & 4 Characteristics by 6 Acct Types: FS‚ Real vs. Nominal & Normal Acct Bal (NAB) mjm cpa 9/13 (Contra Accts) [Historical Cost Exceptions] (ACCT 3512 emphasized accts in italics) by Marco J. Malandra‚ CPA 1. ASSETS: BS‚ Real‚ Dr NAB‚ (Cr if contra) 3. SHs’ EQUITY: BS‚ Real‚ Cr NAB (Dr if contra) Current [generally]: IC accts: Preferred Stock [at Par Value] Cash (Money Orders‚Checks‚Checking‚ Savings‚ Petty) Additional-paid-in-capital
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