organisational plan and all the related measures that an entity adopts to: * safeguard assets * encourage adherence to company policies * promote operational efficiency * ensure accurate and reliable accounting records. It is either an administrative control or an accounting control Characteristics of an effective internal control system include: * Competent‚ reliable‚ and ethical personnel * Assignment of responsibilities * Proper authorisation * Separation of duties
Premium Depreciation Balance sheet Expense
History is the study of the past‚ specifically how it relates to humans. It is an umbrella term that relates to past events as well as the memory‚ discovery‚ collection‚ organization‚ presentation‚ and interpretation of information about these events. Scholars who write about history are called historians. Events occurring prior to written record are considered prehistory. History can also refer to the academic discipline which uses a narrative to examine and analyse a sequence of past events‚ and
Free History
ACCOUNTING SUBSTANCE OVER FORM Substance over form is an accounting concept where the entity is accounting for items according to their substance and economic reality and not merely their legal form. It is one of the key determinants of reliable information. For most transactions there will be no difference and in some cases however‚ the two diverge and the choice of how to present the transactions can give very different results. This differences occurs when an asset or liability is not recognized
Premium Generally Accepted Accounting Principles Balance sheet Accounts receivable
Before and After It is Death that consoles yea‚ and causes our lives. “The Death of the Poor” Charles Baudelaire What was a firm stone before magically transformed into two birds that immediately flew away. They had been caged in the stone for years and could finally obtain freedom. The old one immediately fell dead and got rid of all the sufferings she had had before. The young one flew away searching for a new life. But sometimes life plays bad tricks; a stone fist is always stronger than separate
Premium Hatred Hair
The basic accounting concepts have defined the conception of the preparation of financial statements and the process of preparation in the UK is well regulated. But financial accounting requires a fair amount of flexibility in some certain areas‚ so the need of judgements and estimations for accounts preparers is demand. Meanwhile it leaves a significant approach in accounting treatments. For example‚ when organizations decide which of several inventory valuation methods to utilize; managers make
Premium Generally Accepted Accounting Principles Balance sheet Financial statements
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
Premium Balance sheet Goodwill Asset
Chapter 3-1 The Accounting Information System Chapter 3-2 Financial Accounting‚ Fifth Edition Study Objectives 1. Analyze the effect of business transactions on the basic accounting equation. 2. Explain what an account is and how it helps in the recording process. 3. Define debits and credits and explain how they are used to record business transactions transactions. 4. Identify the basic steps in the recording process. 5. Explain what a journal is and
Premium Double-entry bookkeeping system Bookkeeping Asset
YARMOUK UNIVERSITY FACULTY OF ECONOMICS AND ADMINISTRATION SCIENCES DEPARTMENT OF ACCOUNTING COURSE SYLLABUS FALL SEMESTER 2011/2012 COURSE: Title: ACC471— Accounting Information System Instructor:Dr. Iaad Sartawi Class Time: Section (1) – 8:00-9:00 Sunday‚ Tuesday‚ & Thursday. Section (2) – 10:00-11:00 Sunday‚ Tuesday‚ & Thursday. Section (3) – 8:00-9:30 Monday & Wednesday. Class Room: LAB 104A Office Hours: 11:00-12:00 Sunday‚ Tuesday‚ & Thursday. 9:30-10:30
Premium Relational model Classroom Information systems
Compare and Contrast: "Dune" by Herbert and "Star Wars" by Lucas The novel Dune by Frank Herbert‚ and the novel Star Wars by George Lucas have many comparisons and contrasts. Even though they were written more than 10 years apart‚ they are both very entertaining. In Dune the story takes place on a dry desert planet called Arrakis‚ where water is very scarce‚ and only the rich own it. Similarly‚ in Star Wars the story starts out on a desert world called Tatooine‚ where water is very scarce and
Premium Star Wars Episode IV: A New Hope Darth Vader Star Wars Episode VI: Return of the Jedi
July 15 Speaker Critique of George Lucas Inspirational Speech This video is in the speech held by Academy of Achievement. The Academy of Achievement is a Washington‚ D.C.-based non-profit organization that aims to bring high profile‚ successful people from various fields together with "young achievers" to inspire them to succeed. The speaker of this video is George Lucas‚ which is the creator of Star Wars and it is in Aug 12‚ 2013‚ Washington D.C. George Lucas talk about his life experience and
Premium Personal life Happiness Talk radio