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
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DAGMAR is Defining Advertising Goals for Measured Advertising Results. It is basically an approach to advertising planning and a precise method for selecting and quantifying goals and for using those goals to measure performance. Russel H. Colley (1961) pioneered this approach where to establish an explicit link between ad goals and ad results‚ Colley distinguished 52 advertising goals that might be used with respect to a single advertisement‚ a year’s campaign for a product or a company’s entire
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CHAPTER 1 FINANCIAL ACCOUNTING AND ACCOUNTING STANDARDS Multiple Choice—Conceptual Answer No. Description d 1. Users of financial reports. d 2. Identify the major financial statements. a 3. Financial reporting entity. d 4. Efficient use of resources. d 5. Capital allocation process. c 6. Financial statement information. c 7. Objectives of financial reporting. b 8. Common set of standards and procedures. c 9. Role of SEC. c 10. Powers of the SEC. d 11. SEC enforcement
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Chapter 1 Question 1-18 Consumers Union is a nonprofit organization that provides information and counsel on consumer goods and services. A major part of its function is testing of different brands of consumer products that are purchased on the open market and then the reporting of results of the tests in Consumer Reports‚ a monthly publication. Examples of the types of products it tests are middle-sized automobiles‚ residential dehumidifiers‚ flat-screen TVs‚ and boys’ jeans. a.) In what ways
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Advocacy The deficit approach in family policy advocacy occurs when actions are taken to solve current failures within a family. The problem with this type of approach focuses on the failures‚ and can often occur to late to change the behavior. The asset approach focuses on the strengths of the family. By focusing on strengths‚ this type of approach allows families‚ individuals‚ and community leaders to become emotionally attached to the cause‚ unlike the deficit approach‚ which focuses more on
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The Psychodynamic Approach encompasses both Freud’s theories and methods and those of his followers. Freud’s own theory was called Psychoanalysis which is both a theory and a therapy. The Psychodynamic Approach focuses upon the role that internal processes and past experience have in shaping a persons personality. These theorists believe that behaviour is guided by unconscious urges not rational thought. Freud’s theories are derived from what his patients told him during treatment. According to Freud
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COMMUNICATIVE APPROACH The communicative approach was developed by Robert Langs‚ a revolutionary psychoanalyst who is the author of 47 hands-on books on emotional life‚ the human condition‚ dreams‚ and the evolved design and operations of the emotion-processing mind. His books are written for both the general public and mental health professionals. They are distinguished by his highly original approach to the human mind and by the recognition of its extremely influential unconscious activities
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There is no generally accepted theory of accounting. There are a number of accounting theories (though a systematic attempt has been made by Financial Accounting Board (FASB) of USA and IASC and other to formulate a comprehensive theory of accounting). The definition of Accounting Theory given by Hendriksen as “a set of broad principles that (i) provide a general frame of reference by which accounting practice can be evaluated‚ and (ii) guide the development of new practices and procedures” lead
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ACCOUNTING THEORIES 1. What is the difference between a positive theory of accounting and a normative theory of accounting? 2. What do we mean when we say that ‘theories are abstractions of reality’? Do you agree that theories of accounting are necessarily abstractions of reality? 3. Identify and explain 5 different criteria we might use to establish a theory as being suitable for use in our research. 4. Is the study of financial accounting theory a waste of time for accounting
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study: the areas of focus they choose to approach in distinct ways. As a result‚ challenges encountered in a particular academic sphere are met head on by the experts in that particular department. However‚ many problems have been solved only as a result of combining the unique features of a variety of academic subjects. In other words‚ an interdisciplinary approach was adopted. Despite this‚ there have been many situations in which this interdisciplinary approach has led to difficulties in the production
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