+0)26-4 Accounting Theory NEED FOR ACCOUNTING Business is one of the sources of earning income. Whenever a business is started‚ it requires investment of certain amount which is called as capital. With this amount of capital the businessman may deal either with trading business or manufacturing business. In a trading business‚ he will buy goods at a lesser price and sells the same to others at a higher price. In case of manufacturing business‚ he has to buy raw materials and incur other
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Anthony van Dyck‚ Lucas van Uffel‚ illustrates a man whom appears to be distinguished as an intelligent artistic person. Although‚ it was compared to another portrait of the same ‘sitter’ but instead of signifying intelligence the man is seen to be overlooking the sailing of ships off a “Mediterranean coast”. The intelligence is displayed by the objects positioned around the merchant ( the globe‚ worn out book also argued to be a recorde‚ and the pages). Rembrandt van Rijn‚ Aristotle with a Bust
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14 Accounting publications and research in twentieth-century Japan1 14.1 Introduction Japan’s interest in modern accounting began in the late nineteenth century with Alexander Shand [1844–1930].2 The Japanese translation of Shand’s (1873) Bank bookkeeping proved to be so important that his system of bank accounting became legally obligatory for the newly established banking system of the Meiji era. In the same year‚ Fukuzawa (1873–74) published a Japanese translation of Bryant and Stratton’s (1871)
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of Hardship and Marriage Eugene O’Neill’s play "Before Breakfast" shows an unhappily married couple living out sad lives that they never imagined when they were first married. The story tells of what could happen when dreams and aspirations are dashed by cold reality and hardship. As a result‚ we see two desperate people struggling with one another in a downward spiral‚ and can conclude that perhaps they were never meant to be married. “Before Breakfast‚” which is one of O’Neill’s earliest plays
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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
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101-00128 Oct 2014 Accounting Accounting is the recording‚ measurement‚ and interpretation of financial information (Business 286). This financial information is used to evaluate the organization’s operations. To carry out these interpretations of financial information a public or private accountant is able to do this. To become a public accountant you must earn your CPA (certified public accountant) by passing a test and means you are certified by the state in which you provide accounting services where
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Independent University‚ Bangladesh (IUB) In Partial Fulfilment of the Requirements of EMBA Course-513E Management Accounting By Mohammed Shamsuddin Student ID: 1110805 Summer Semester‚ 2012‚ Management Accounting‚ EMBA INDEPENDENT UNIVERSITY‚BANGLADESH July 26‚ 2012 Dr.Dilip kumar Sen Professor School of
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CHAPTER 3 THE REPORTING ENTITY AND CONSOLIDATED FINANCIAL STATEMENTS ANSWERS TO QUESTIONS Q3-1 The basic idea underlying the preparation of consolidated financial statements is the notion that the consolidated financial statements present the financial position and the results of operations of a parent and its subsidiaries as if the related companies actually were a single company. Q3-2 Without consolidated statements it is often very difficult for an investor to gain an understanding
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Lucas Jackson and R.P. McMurphy are two completely different people when comes to being a rebel. To be a rebel it means to go against the law which fits Lucas Jackson but not McMurphy he only acted the way he did because it was in the best interest of the patients in the ward. Lucas jackson repeatedly broke the law simply because he could. R.P. McMurphy is a man who likes to get into fights cause chaos and escape the ward sometimes but he never broke the law. When McMurphy bashed his big hands
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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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