Auditing Class – Intake 52 | Assignment Report | Abt. Thu Duc Centrifugal Concrete Joint-Stock Company | Group 4: | Duong Thi Phuong ThaoLe Duy AnhNguyen Thi HangNguyen Mai HuongLe Khanh Ly | | 10/4/2012 Contents A. General information 2 I. Establish and Development 2 II. Description of business 3 B. Description of accounting system 4 I. Summary of significant accounting policies 4 II. Description of recording process 6 C. Brief look at financial statements 15
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of this essay... Introduction to Computerized Accounting Over the past two decades the way accounting data is entered‚ ... Computerized Accounting Essay - College Essay - Bruun123 www.studymode.com › Home › Business & Economy › Accounting Abstract The objectives of the report are to investigate the perceived threats of computerized accounting information systems (CAIS) and to discuss how the ... Advanatges of Computerized Accounting - College Essays ... www.studymode.com ›
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1 ACCOUNTING 1 (ACN101- M) STUDY UNIT 1: THE NATURE AND FUNCTION OF ACCOUNTING DEFINITION: • • • Accounting can be defined as the orderly & systematic recording of the monetary values of financial transactions of a business The reporting of results Providing financial information as a basis for decision making 3 main processes define the accounting process: 1. IDENTIFYING: Selecting evidence of economic / financial activity (transactions) 2. RECORDING transactions to provide a permanent
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E9-7 Brainiac Company purchased a delivery truck for $30‚000 on January 1‚ 2011.The truck has an expected salvage value of $2‚000‚ and is expected to be driven 100‚000 miles over its estimated useful life of 8 years.Actual miles driven were 15‚000 in 2011 and 12‚000 in 2012. Instructions (a) Compute depreciation expense for 2011 and 2012 using (1) the straight-line method‚ (2) the units-of-activity method‚ and (3) the double-declining balance method. (b) Assume that Brainiac uses the straight-line
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and creativity were nothing new to Hubble‚ which became evident as he excelled in his studies -in college- and went on to discover how the universe is constantly expanding. Hubble leads a relatively normal life as he grew up in the late 1800’s; he moved from his hometown to Missouri with his parents and siblings to Chicago‚ where he blossomed as an athlete. (Biography‚ 3) Not long after Hubble had been awarded the Rhodes scholarship to Oxford University for his academic standing and skill in track
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Chapter 2 Selected Solutions Job-Order Costing for Manufacturing and Service Companies P2. [LO 3]. a. Terra Cotta Designs Schedule of Cost of Goods Manufactured For the Year Ended December 31‚ 2011 Beginning balance in work in process $ 600‚000 Add current manufacturing costs: Direct material: Beginning balance $ 400‚000 Purchases 1‚000‚000 Ending balance (200‚000) $1‚200‚000 Direct labor 2‚100‚000 Manufacturing Overhead 600‚000 3‚900‚000 Total 4‚500
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Accounting System Controls In accounting systems‚ certain controls are needed to ensure that employees are doing their jobs properly and ensure that the system runs properly. These checks are in the best interest of the organization. These controls come in the form of internal and external controls for the system. The internal controls are the checks that are placed in the system my the company ’s own management and directors. Today more and more companies are moving from the manual accounting
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Office Product was a regional distributor of office supplies to institutions and commercial businesses. The company offered a comprehensive product line like simple writing implements and fasteners to specialty paper for modern high-speed copiers and printers. Warehouse personnel in the company’s distribution center unloaded truckload shipments from manufactures‚ and moved the cartons into designated storage location until customers request the items. Typically‚ the company shipped products to its
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Question 1 a) On January 1‚ 2011 the Batista Company budget committee has reached agreement on the following data for the 6 months ending June 30‚ 2011: Sales units: 1st quarter – 5 000 2nd quarter – 6 000 3rd quarter – 7 000 Ending raw materials inventory – 50% of the next quarter ’s production requirements. Ending finished goods inventory – 30% of the next quarter ’s expected sales units. 3rd quarter actual production – 7 250 units Three pounds of raw materials
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External Users of Accounting Data Accounting data is important to the many stakeholders of a business. By analyzing the data‚ stakeholders can determine many things about a business‚ including its profitability‚ current cash position‚ whether it might be able to repay loans‚ and much more. Users of accounting data fall into two categories: internal users‚ and external users. Internal users of accounting data are actually employed within the business‚ and use the data to “plan‚ organize
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