Accounting plays an important role in the life of organizations. There are several types of accounting such as financial‚ management and governmental accounting‚ taxation‚ audit. These types are usually focusing on different types of users that are interested in different types of information. In this essay I will examine the differences between financial accounting and management accounting. The basic difference between financial and management accounting is their target group. Management accounting
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ACCG 399 Reflection Learning Log Lecture 1 Financial Accounting is highlighted in the lecture. There are two key points of financial accounting. Firstly‚ financial accounting is a process involving the collection and processing of financial information to meet the decision-making needs of parties external to an orgnisation. The other one is related to laws and accounting standards‚ external reporting‚ financial statements‚ values and material‚ independent audit opinion‚ overview general purpose
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CASE ASSIGNMENT INTERNATIONAL FINANCIAL REPORTING STANDARDS MASTER OF SCIENCE IN BUSINESS EK337EPERSPECTIVES ON INTERNATIONAL ACCOUNTING SPRING 2013 CANDIDATE NUMBERS: 28 32 76 87 UniversitetetiNordland 1 CONTENT Introduction……………………………………………………..3 Theoretical Framework………………………………………….5 Advantages……………………………………………………....5 Disadvantages…………………………………………………....6 Challenges………………………………………………………..6 Analysis………………………………………………………….7 Conclusion………………………………………………………10
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codification section that addresses transfers of receivables is the following: FASB ASC 860-10-05-15. C. Provide definitions for the following: 1) Transfer: The conveyance of a noncash financial asset by and to someone other than the issuer of that financial asset. A transfer includes the following: selling a receivable‚ putting a receivable into securitization trust‚ and posting a receivable as collateral. A transfer excludes the following: the origination of the receivable‚ settlement of a receivable
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Task 2 CYP 3.1-3.1 How to monitor children and young people’s development using different methods The main methods are health assessments from health visitors and doctors‚ to check children are healthy and reaching health and development targets. For example the Apgar score assesses the condition of baby at birth. Childcare practitioners and teachers monitor in education‚ through early years foundation stage profiles to ensure children are achieving developmental goals in all aspects of learning
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Review of Accounting Fundamentals The Accounting Equation Assets = Liabilities + Equity Equity = Contributed Capital + Retained Earnings Retained Earnings = Beginning Retained Earnings + Net Income for the Period – Dividends Net Income = Revenues – Expenses + Gains – Losses Assets ( Probable future economic benefits obtained or controlled by a particular accounting entity as a result of past transactions or events Liabilities ( Probably future sacrifices of economic benefits
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between accrual-basis accounting and cash-basis accounting? The variation between accrual basis accounting and cash basis accounting‚ is how cash is documented. Cash basis is an accounting basis that is used when expenses and revenue are paid out or received. This is when the transaction will be recorded. In accrual-basis accounting‚ transactions are recorded when they actually happen. Payment does not need to be made for the transaction to be recognized in accrual-basis accounting unlike cash-basis
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Current Location ? .HBLC_4124_ACC_202_J002_32368 ACC 202: Managerial Accounting (4124_J002) Quizzes Take Test: Chapter 05 . . Menu Management Options Expand AllCollapse All ..Course Menu:BLC_4124_ACC_202_J002_32368 (ACC 202: Managerial Accounting (4124_J002)) H Announcements . Syllabus . PowerPoint Slides . Tutoring Schedule . Connect . Extra Class Exercises . Quizzes . Exams . My Grades . Help . Take Test: Chapter 05 .Content Assistive Technology Tips [opens in
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“The theories we use to help us understand standard-setting in national arenas (such as Australia) don’t work so well at the international level where the . . . International Accounting Standard Board (IASB) is taking a leading role. We will have to modify them or expand our theoretical repertoire” Discuss the above statement‚ clearly indicating your agreement or otherwise about the basis for your views. Abstract: The theories that are presented in this paper all assume the importance of a
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When to Use One-Way‚ Single Factor ANOVA In a manufacturing or service environment‚ you might wonder if changing a formula‚ process or material might deliver a better product at a lower cost. Saving a penny a pound on five million pounds a month can really add up. Saving ten minutes of wait time in hospital might add $100‚000 to the bottom line and deliver better patient outcomes. Comparing two or more drug formulations might pinpoint the best drug for a desired result. How can you compare the
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