of art as much as a science. The person who conducts‚ supervises or manages a business or household affairs is known as manager. According to the Oxford English Dictionary (2010)‚ Manager is the person responsible for controlling or administering an organization or group of staff. However‚ there is a big difference between being a manager and being a “good” manager. A good manager should have some very basic qualities. He or she must have a strong communication skills‚ good imagination‚ high level
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198 Accounting Standard (AS) 14 (issued 1994) Accounting for Amalgamations Contents INTRODUCTION Definitions EXPLANATION Types of Amalgamations Methods of Accounting for Amalgamations The Pooling of Interests Method The Purchase Method Consideration Treatment of Reserves on Amalgamation Treatment of Goodwill Arising on Amalgamation Balance of Profit and Loss Account Treatment of Reserves Specified in A Scheme of Amalgamation Disclosure Amalgamation after the Balance Sheet Date ACCOUNTING STANDARD
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Accounting for Decision Making Mohammad Jamal an IT graduate who is currently pursuing his MBA formed a computer service business Jamal’s Computer Services as a holiday job. To start the business on May 1‚ he deposited $7‚000 of his own money into a new bank account in the name of the business. In addition the business borrowed $3‚000 at 5% per annum from CIMB bank. He rented a small pace for $300 per month‚ and hired 2 students with a monthly salary of $1‚500 each per month to service customers’
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Run a Better Business with Accounting Jesse Pulley Man-104 June-06-2013 Instructor Natalie Rufa Accountants are a crucial part to my business success. The key is finding the right professional to provide the services that my business needs to advance.( http://www.wahm.com‚ paragraph 1) I as a business owner/manager must educate myself on the questions to ask and the services that will help me achieve my goals. I realize that it can become a little overwhelming‚ but here are 5 things
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A sole trader business: • is owned by one person • has unlimited liability • is regarded as a separate entity for accounting purposes • is not a legal entity in its own right. A sole trader is a person who is the only owner of a business. A sole trader enjoys many advantages‚ including inexpensive start-up costs and a relatively simple process of establishment. The owner makes his/her own decisions and is entitled to all the profits of the business. However‚ a sole trader must bear all losses
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Multiple Choice: 1. In general terms‚ financial assets appear in the balance sheet at: a. Face value b. Current value c. Cost d. Estimated future sales value 2. Which of the following practices contributes to efficient cash management? a. Never borrow money – maintain a cash balance sufficient to make all necessary payments. b. Record all cash receipts and cash payments at the end of the month when reconciling the bank statements
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1. The accounting process involves all of the following except a. identifying economic transactions that are relevant to the business. b. communicating financial information to users by preparing financial reports. c. recording nonquantifiable economic events. d. analyzing and interpreting financial reports. 2. Financial accounting provides economic and financial information for all of the following except a. creditors. b. investors. c. managers. d. other external users. 3.
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generating unit. A. Corporate assets B. Subsidiary C. Service departments D. Exclusive cash generating unit 7. Assume that employees confessed to a P500‚000 inventory theft but are not able to make restitution. How should this material fraud be shown in the company’s financial statements? A. Classified as loss and shown as a separate line item in the statement of comprehensive income. B. Initially classified as an account receivable because the employees are responsible for the goods
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False 4. All costs incurred in a merchandising firm are considered to be period costs. True False 5. Depreciation is always considered a product cost for external financial reporting purposes in a manufacturing firm. True False 6. In external financial reports‚ factory utilities costs may be included in an asset account on the balance sheet at the end of the period. True False 7. Advertising costs are considered product costs for external financial reports because they are incurred in order to promote
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Contents THE IN-HOUSE HELP DESK AND ITS PURPOSE 1 Conclusion 2 Computer Help Desk Support In this article‚ we will be defining what an in-house help desk is‚ many of us may be aware of the term help desk but not what the term in-house means. We will look at how the in-house help desk is beneficial to employees of organizations that implement them‚ the general purpose of in-house help desk‚ the important features of the in-house help desk and hot the help desk can save time for
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