Basic Accounting Principles and Concepts http://misscpa.com/basic-accounting-principles-and-concepts/ Accounting is called the language of business that which communicates the financial condition and performance of a business to interested users‚ also referred to as stakeholders. In order to become effective in carrying out the accounting procedure‚ as well as in communicating the financial information of the business‚ there is a widely accepted set of rules‚ concepts and principles that
Premium Business Generally Accepted Accounting Principles Accountancy
between principles-based accounting and rules-based accounting? Almost all companies are required to prepare their financial statements as set out by the Financial Accounting Standards Board (FASB)‚ whose standards are generally principles-based. Recently‚ there has been much debate on whether principle-based accounting would be more efficient than the popular rules-based accounting - especially in response to accounting scandals‚ such as Enron and Worldcom‚ the current way of accounting has been
Premium Financial Accounting Standards Board Enron Accountancy
SUBJECT: ANALYSIS OF FINANCIAL STATEMENT TOPIC: ACCOUNTING PRINCIPLES ACCOUNTING Generally Accepted Accounting Principles refer to the standard framework of guidelines for financial accounting used in any given jurisdiction; generally known as accounting standards. GAAP includes the standards‚ conventions‚ and rules accountants follow in recording and summarizing‚ and in the preparation of financial statements. Financial Accounting is information that must be assembled and reported
Premium Generally Accepted Accounting Principles
Module 3 Text Questions Review Questions 1. What are the four types of evidence in a criminal investigation? 1. Physical Evidence 2. Demonstrative Evidence 3. Documentary Evidence 4. Testimony 2. What are individual characteristics? Give an example of an individual characteristic? -Individual Characteristics is evidence that have special characteristics that make it possible to trace the evidence back to a specific person‚ place or item. Some examples are fingerprints‚ body fluids‚ tread from shoes
Premium Critical thinking Evidence law Evidence
Accounting Principles i Running head: GENERAL ACCEPTED ACCOUNTING PRINCIPLES General Accepted Accounting Principles Accounting Principles ii Abstract My paper is about the GAAP (General Acceptance of Accounting Principles) which were created by the Accounting Principles Board (APB). The board was created by American Institute of Certified Public Accountants (AICPA) in 1959. APB issued 31 Opinions from 1959 to 1973 and those Opinions created GAAP. I think GAAP is interesting
Premium Balance sheet Generally Accepted Accounting Principles Income statement
Accountants use generally accepted accounting principles (GAAP) to guide them in recording and reporting financial information. GAAP comprises a broad set of principles that have been developed by the accounting profession and the Securities and Exchange Commission (SEC). Two laws‚ the Securities Act of 1933 and the Securities Exchange Act of 1934‚ give the SEC authority to establish reporting and disclosure requirements. However‚ the SEC usually operates in an oversight capacity‚ allowing the FASB
Premium Generally Accepted Accounting Principles
University-Bangladesh Summer 2007 Principles of Accounting (Section B) For CS‚ CSE‚ COE‚ EEE Students Course Outline |Course Teacher : |Shamarukh Aziz Bhuiyan (Angela) | | | | |Credit: |3 Credit Hours
Premium Decision making Decision theory Education
Learner name Learner Journey Module 1 melanie daley Vocational Learning Advisor name delise leahy Module 1 - Induction - your learning programme Tick all that apply 1. Who is funding your learning programme? babcock 2. What is your Learning Agreement / Individual Training Plan / Personal Training Plan? ✔ ✔ ✔ a. A detailed outline of your agreed learning programme b. A review of your targets and progress c. A summary of your achievements 3. Confirm which qualification and level
Premium Psychology Vocational education Skill
Trident University FIN501 Module 3-SLP Dr. Glenn Tenney Risk and return‚ portfolio diversification and the Capital Asset Pricing Model; The cost of equity Session Long Project company: Target Corp. 1. Beta of Target= .43 Yield to Maturity (Risk free rate)= 0.19% Risk premium=7% Cost of equity of Target= Risk free rate +Beta*Risk premium =.19%+.43*7% =.032%= Answer 2. Beta of Wal-Mart: 0.4 Cost of equity of Wal-Mart= Risk free rate +Beta*Risk premium =.19%+.4*7%
Premium
Accounting Assumptions‚ Principles‚ and Constraints XACC/280 Accounting Assumptions‚ Principles‚ and Constraints The basic assumptions of accounting include the monetary unit assumption and economic entity assumption. The monetary unit assumption is described as what companies require as only transactional data that can be expressed in terms of money (Weygandt‚ Kimmel‚ & Kieso‚ 2008). The purpose of the monetary unit assumptions is to only reflect the financial impact of the business
Premium Business Economics