controlling of systems in general‚ including organisational systems. Given the central importance of information and records to systems operation‚ including public sector organisations and the societies they exist to govern‚ we should not be surprised to learn that public sector reform efforts that overlook the information component often fail to meet their immediate objectives and the longer-term goal of establishing a framework for good governance. Efforts to improve the management of public sector
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system. 2. Identify and describe the steps in the accounting process. 1. Identifying the financial transaction a business may perform several transactions. Of which‚ only financial transactions are recorded in accounts. In the first step of the accounting process‚ therefore‚ financial transactions are identified. Financial transactions are those which are expressed in monetary terms. 2. Recording of Financial Transactions In the second step of accounting process‚ all financial transactions
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I am writing to analyse the company’s current balance sheet and income statement. Particularly‚ I will critique on the company’s results‚ compare it to past years‚ compare it to competitors‚ and make recommendations on how to improve its financial position. Neiman Marcus department stores offer luxurious and high-quality men’s and women’s apparel and accessories. The Neiman Marcus Group operates 35 stores in nearly 20 states. The 2004 net income was an impressive $204 million and revenue was $3
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are the financial statements. They are formal records of the financial activities of a business. There are three basic financial statements:(1) Profit & loss account(2) Balance sheet(3) Cash flow statementThe profit & loss account:The profit and loss account (also referred to as the income statement) shows the results of the flow of activity and transactions and is designed to report the profit performance of a business for a specific period of time. The profit and loss account reports total revenue
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management teams choose to not pay dividends to their owners‚ preferring to reinvest those funds in the company. Of course‚ another reason for some of the variation in reported financial results among companies is the differing competencies of management. Given the same industry characteristics and the same management policies‚ different companies may report different financial results simply because their managements perform differently. And last‚ one other reason is that some industries are more susceptible
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Table 1: Aging Schedule of Accounts Receivable AGE OF ACCOUNT | BALANCE OUTSTANDING | % OF TOTAL BALANCE OUTSTANDING | 0-15 days | $ 20‚000 | 19.59 % | 16-30 days | 30‚000 | 29.39 | 31-60 days | 40‚000 | 39.19 | 61-90 days | 10‚000 | 9.80 | Beyond 90 days | 2‚071 | 2.03 | TOTAL | $ 102‚071 | 100.0 % | 2. To evaluate the credit quality of Aero-Strip’s accounts receivables portfolio‚ we turn to their average collection period (ACP) and aging of accounts receivable. Knowing the ACP
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Constructing an Account of an Argument In the article "Against School" (2003)‚ John Taylor Gatto debates that mandatory school is not educating our children but instead the schools are teaching them how to be manageable. He supports his claim by giving us personal accounts of what he has seen‚ examples of people who have been successful in life whom were not subject to the school system‚ and he also gives us text from other authors who support his views. Gatto’s purpose is to inform his readers
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Hey just got an account here at study mode.. Ugh.. Why does this site needs payment? I just wanted to read the documents posted here about "insect repellent made from cacao leaves".. Then this site will say i need to sign up blah blah blah. K whatever. Just got an account here again. Science investigatory projects suck‚ or at least seem to at first. But you shouldn’t let school drag you down. Instead‚ use your homework assignment as an opportunity to solve a problem you’ve always been interested
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by other companies. The following six-column table contains the company’s unadjusted trial balance as of December 31‚ 2011. BUG-OFF EXTERMINATORS December 31‚ 2011 Unadjusted Trial Balance Cash 17‚000 Accounts receivable 4‚000 Allowance for doubtful accounts 828 Merchandise inventory 11‚700 Trucks 32‚000 Accum. depreciation-Trucks - Equipment 45‚000 Accum. depreciation-Equipment 12‚200 Accounts payable 5‚000 Estimated warranty liability 1‚400 Unearned services revenue - Interest payable
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in the voucher register equals the firm’s total voucher payable balance. ANS: T PTS: 1 5. The accounts payable department reconciles the accounts payable subsidiary ledger to the control account. ANS: F PTS: 1 6. The use of inventory reorder points suggests the need to obtain specific authorization. ANS: F PTS: 1 7. Proper segregation of duties requires that the responsibility approving a payment be separated from posting to the cash disbursements journal. ANS: T PTS: 1
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