will I am sure be of interest not only to our student audience but as a refresher to those of you in practice that may be required to deal with this concept. In most businesses debtor balances represent an important element of working capital. Accounting principles dictate that the supply of goods or services is accounted for as sales‚ at the point at which the buyer has a legal obligation to pay for them. Total debtors represent the value of credit sales for which payment has yet to be received
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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
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Content 1 Introduction 1 1.Task one 2 The models and concepts affecting the pricing decisions taken by organisations‚ critically reflecting upon their usefulness 2 2‚ Task two 6 The role of standard costing and variance analysis in management accounting and a critically discussion of the value and limitations of variance analysis as a means of identifying key areas which have contributed to the overall profit figure. 6 3‚ The advantages and disadvantages of introducing an Activity Based Costing
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com (2011) Anatomy of a Dolphin. Retrieved on April 21‚ 2013 from http://www.theanimalfiles.com/anatomy/dolphin_anatomy.html EO.Reddit.com (2013) Evolution Timeline of a While and Dolphin. Retrieved on April 21‚ 2013 from eo.reddit.com/r/todayilearned/comments/dq4v7/til_the_evolution_ timeline_of_whales_and_dolphins/ Looney‚ Z. (1996) Dolphin Evolution. Retrieved on April 21‚ 2013 from http://tursiops.org/dolfin/guide/dolphinevo.html
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The Evolution of Education through Time Shauna Hammond Grand Canyon University: The Philosophical and Social Issues in Education October 1‚ 2013 The Evolution of Education through Time The right for all children to receive a sound education was once just an idea. The public school did not even exist until the 1800’s. Several leading theorists and many movements that span several hundred years made education what it is today. John Calvin‚ Horace Mann‚ John Dewey and Sputnik are just
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In a constructionist perspective Abstract This essay addresses the relationship between professional ethics and financial statement disclosure. The public should change its view on the objectivity of accounting profession because in no means can anyone be absolutely objective. The reason to this will be articulated thoroughly in the essay. Then how to maximize relative objectivity is discussed and the conclusion is that being honest and credible as the premise
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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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Chaddie Dimiati October 17th‚ 2011 Evolution of Technology: Reinventing Today’s Society One Discovery at a Time “Men are only so good as their technical developments allows them to be” (Orwell 56). When the technology boom occurred in the 1990s and beyond‚ a typical student’s backpack would consist of a boondoggle‚ leather-bound planner‚ pager‚ cassette player‚ 3.5 inch floppy disk‚ and a hardcover textbook. Time advanced‚ and eventually made its way into the 2000s‚ when then a backpack would
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correct picture on the firm’s financial performance and financial position. We have to recognize all transaction occurring in that accounting period‚ irrespective of whether cash has been received or paid. The ultimate objective of adjusting entries is to ensure that the revenues (income) earned in the accounting period are matched by all costs incurred for that same accounting period (Monash College‚ 2011). Prepayment There are two types of adjusting entries‚ prepayments and accruals. Prepayment is
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Objective 1. Determine the total considerations transferred. 2. The land and buildings should be recorded on the premise of “in-use” or “in-exchange”. 3. Determine the fair value recorded for the intangible assets. Applicable accounting pronouncement ASC 805-20-25 Business Combinations-Identifiable assets and liabilities and any non controlling interest-Recognition Recognition Conditions 25-2 To qualify for recognition as part of applying the acquisition method‚ the
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