TO FINANCIAL ACCOUNTING Code ACFI101 Coordinator Mr LW Gordon Economics‚ Finance and Accounting L.W.Gordon@liverpool.ac.uk Year CATS Level Semester CATS Value Session 2013-14 Level One First Semester 15 Pre-requisites before taking this module (other modules and/or general educational/academic requirements): None Modules for which this module is a pre-requisite: ACFI 201‚ ACFI301‚ ACFI305‚ ACFI320 Programme(s) (including Year of Study) to which this module is available on
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Biltrite Practice Case Module III: Control Testing – Sales Processing 1. The sampling plan in the design of controls does not provide tests about revenues and accounts receivables. The weakness that I could see is the fact that goods that were delivered to customers were not billed which result in bill of lading not being pre-numbered. Because of this‚ bills of lading do not count as an effective sampling unit. For a successful audit‚ auditors need to evaluate orders randomly and check to see
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CHAPTER 3 The Accounting Cycle QUESTIONS Q3-1. Much more judgement is required for accrual accounting than for cash accounting because there is greater uncertainty at the time events are recorded in the accounting system. There is no uncertainty around the point in time when the cash is paid or collected. Accrual accounting records economic events‚ not cash flows. When an economic event occurs can be ambiguous. It’s less certain when revenue has been earned than when cash is received. It
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Module 301. What are your roles‚ responsibilities and relationships of a Social purpose educator in your chosen teaching context? 1.1 Explain the teaching role and responsibilities in education and training. I teach as a hair and makeup artistry to my students. The very first thing this I always follow health and safety for both myself and the students. Never put them in danger and strict confidentiality rules are to be followed by myself‚ keeping my relationships with students and also colleagues
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Module Ten: Text Questions Review Questions 1. What is a questioned document? Describe at least one example of something that might be a questioned document. A questioned document is any document that might be under question or suspected of being a forgery. Many times they can be letters‚ driver’s licenses and sometimes lottery tickets. 2. What is an exemplar? What are the best types of exemplars? An exemplar is an original document that is used as comparison for the questioned document. The best
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D1 – Demet Sahin – Business Accounting For this part of the task I have been asked to look at the case study of Superflex UK. Recommend and justify ways in which Superflex could address these problems and improve the cash position of the business. A cash flow forecast is estimation of cash coming into the business and of cash going out of the business over a set period of time. A cash flow forecast should demonstrate that your business will have access to enough money to survive. But when estimating
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had a single client with a large share of the business. The previous accounting system focused on two variables: direct labor and burden. For the latter‚ costs were grouped into a single cost pool that included burden costs associated with of the testing rooms i.e. mechanical and electrical; as well as engineering burden costs related to software and tooling development alongside administrative costs of the division. As the case mentions‚ total burden costs are then divided by the sum of testing and
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Case 3: Vietnam: Questions: 1) Does Vietnam represent an attractive investment opportunity? A: Yes‚ does it. Vietnam is the 12th most populous nation in the world. Its economy rapidly grows and substantial inbound foreign direct investment. Then‚ there is an ongoing series of liberalizing economic reforms. Plentiful‚ well educated and low-cost labor force. 2) Is it too late for U.S. companies to enter Vietnam? A: NO‚ it won’t too late. There are several reasons: 1. Government encourages foreign
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Reflective response of the progression module The progression module is a course which I would recommend for anyone. It has a numerous amount of benefits‚ one of the main benefits is it allows you to explore a broad range of courses at a variety of university. I feel the progression module has prepared me for university as I have discovered many courses that interest me. The progression module has also helped me understand other vital things that need to be considered when going university‚ such
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company uses a process cost accounting system. Its Assembly Department’s beginning inventory consisted of 50‚000 units‚ 3/4 complete with respect to direct labor and overhead. The department started and finished 127‚500 units this period. The ending inventory consists of 40‚000 units that are 1/4 complete with respect to direct labor and overhead. All direct materials are added at the beginning of the process. The department incurred direct labor costs of $24‚000 and overhead costs of $32‚000 for
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