Week 1 - Nature & Regulation of Companies & Company Operations Legal nature of company Separate legal identity‚ distinct from owners Companies act through ‘agents’. eg. shareholders elect board of directors to act on their behalf Public Company (Ltd.) Limited liability of owners • Raises funds from public Types of companies Private Company (Pty. Ltd.) • • • • • • • • • Regulation of companies Corporations Law: Companies must keep proper accounting records; prepare yearly & half-yearly FS;
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The Impact of Assets Impairment on Company Accounts Assignment 1 ACCT 20054 – Company Accounting Term 2‚ 2012 Prepared & Submitted by Jobish Mathew S0214315 Tutor: Davood Alizadeh Due date: 24th August 2012 Submitted date: 24th August 2012 Executive Summary The study ‘The Impact of Assets Impairment on Company Accounts’ presents the cotemporary issues facing by major five Australian companies Qantas‚ Ten Networks‚ Billabong‚ Bluescope steel and Harvey Norman. This research
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procedures in collection‚ processing‚ and communication of financial information. There are 7 basis steps of accounting cycle which comprise of source documents‚ prima entry‚ ledger‚ draft trial balances & financial statement‚ adjustments‚ adjusted trial balance & financial statement and closing entries. At first source documents‚ are things like invoice‚ credit note‚ debit note‚ cash bill‚ payment voucher‚ official receipt‚ cheque counterfoil and memo. All this document are related
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History October 11th‚ 2013 The Crusades: Motivation behind the Movement. Patrick Geary’s “Readings in Medieval History” contains four accounts of the invasion of the Middle East by the Europeans in 1095 A.D. These accounts all cite different motives for the first crusade‚ and all the accounts are from the perspective of different sides of the war. The accounts all serve to widen our perspective‚ we hear from the Christian and Middle Eastern side of the conflict. Fulcher of Chartres claims‚ Pope
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EXERCISE 2-14 Journal Entries and T-accounts The Polaris Company uses a job-order costing system. The following data relate to October‚ the first month of the company’s fiscal year. a. Raw materials purchased on account‚ $210‚000. b. Raw materials issued to production‚ $190‚000 ($178‚000 direct materials and $12‚000 indirect materials). c. Direct labor cost incurred‚ $90‚000; indirect labor cost incurred‚ $110‚000. d. Depreciation recorded on factory equipment‚ $40‚000. e. Other manufacturing overhead
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5th Grade /Summarize Main Idea • Summarize the main ideas and supporting details Summarize stated and implied themes Identify the main incidents of a plot sequence and explain how they influence future action Clarify steps in a set of instructions or procedures for proper sequencing and completeness and revise if necessary Summarize the information in texts‚ recognizing that there may be several important ideas rather than just one main idea and identifying details that support each List questions
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Key Events: The first Eaton store was founded in 1869. Eaton was the first retailer to sell merchandise for cash at fixed prices rather than by the credit and barter system. What once was an advantageous strategy to the brand‚ has slowly become the source of its progressive revenue losses. Now‚ due to specialized stores and increased competition‚ Eaton’s must restructure itself in order to continue being a major player in the retail industry. Problem Statement: Eaton’s must figure out its
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Globesco while Manor and Canadian caters to mid-level and low-level income class‚ respectively. Each of these brands has numerous sub-types which caters different needs of the consumers. The paint industry is divided into two distinct sectors. The first sector is the architectural sector‚ which is composed of decorative paints for homes‚ offices and buildings; while the other sector is the industrial sector‚ which composed of paints that are factory-applied to manufactured goods as part of the production
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A subsidiary ledger is a ledger that includes all of the details of a general ledger‚ and it holds accounts with similar attributes. The purpose is that is can contain things such as accounts receivable and accounts payable and it can show the sum total. The advantages of using subsidiary ledgers is that the sum of all the accounts is kept in the General Ledger and all of the details of the accounts are kept in the subsidiary ledger which is separate so you can keep them in different columns so to
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8General Ledger‚ Financial Reporting‚ and Management Reporting Systems TRUE/FALSE 1. The most common means of making entries in the general ledger is via the journal voucher. ANS: T PTS: 1 2. Individuals with access authority to general ledger accounts should not prepare journal vouchers. ANS: T PTS: 1 3. The journal voucher is the document that authorizes entries to be made to the general ledger. ANS: T PTS: 1 4. Each account in the chart of accounts has a separate record in the general ledger master
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