PRINCIPLES OF ACCOUNTING(POA)/ACCOUNTING FOR MANAGERS(AFM) Basic Accounting Concepts & Terminologies ACCOUNTING- DEFINITION Accounting means the various technical activities performed by accountants‚ including financial accounting‚ bookkeeping and management accounting. Accounting is considered to be as old as money. However in 1494 Lucas Fra Pacoili‚ an Italian Merchant is universally regarded as the father of modern system of accounting or double entry system of accounting. Accounting has
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An Analysis of Ethical Principles in The Evaluation The term ‘ethical’‚ as I have come to apprehend it‚ is not just conforming to putative standards of conduct‚ but dealing with what is good or bad and with moral duty and obligation. Thomas A. Schwandt‚ a professor at the University of Illinois‚ notes that “while we can live in a world without standards and guidelines‚ we cannot live in a world without ethics.” Although‚ standards and guidelines have become prominent and are important guides in
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Archimedes’ & Pascal’s Principle Purpose In this lab‚ we will prove Archimedes’ Principle by finding the density of a Metal Cylinder‚ a cork‚ and an unknown fluid by using Archimedes’ Principle. We will also use the PASCO Pascal’s Principle Lab Setup to investigate the use of fluid pressure as a hydraulic system to do work and we will find its mechanical advantage. Procedure For the first part of the lab we will be verifying case 3 as explained by professor. We
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Nashik What is Tax Planning? Tax planning is an essential part of your financial planning. Efficient tax planning enables you to reduce your tax liability to the minimum. This is done by legitimately taking advantage of all tax exemptions‚ deductions rebates and allowances while ensuring that your investments are in line with your long-term goals. However in a broader sense tax planning is not to save the tax for current financial year but also make an effective planning of the sources of your
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1. How can using personal financial planning tools help you improve your financial situation? Describe changes you can make in at least three areas. Personal financial planning helps you create a stable future and improve helps create a stable future and improve your financial status by creating a plan that lets you save and invest your money so that it can start working for you. A comprehensive financial plan can enhance the quality of your life and increase satisfaction by reducing uncertainly
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Unit 12 Principles of diversity‚ equality and inclusion in adult social care setting The Equality Act 2010 From 1 October 2010‚ the Equality Act 2010 came into effect. The Act replaces previous legislation (such as the Race Relations Act 1976 and the Disability Discrimination Act 1995) and ensures consistency in what workplaces need to do to comply with the law and make working environments fair. The main purposes of the Equality Act are: • Establish the Commission for Equality and Human
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preparation in the principles of teaching and learning is an important part as there is much knowledge and skill to be acquired as educator with efficiency and effectiveness. “A learner cannot be made to learn‚ but an effective approach in educating others is to actively involve learners in the education process.” (Bodenheimer et al. 2002 cited in Bastable 2008: 13). By working as a team a partnership philosophy
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Theories and Principles for Planning and Enabling Learning Assignment Task 1 “The single most characteristic about human beings is that they learn” (Bruner‚ 1960:113). This may be true‚ but to what extent do they learn? Lockitt (1997) suggests that both good and bad learning experience can affect learning. By the time learners’ reach adult or further education they would have already met with a range of learning experiences‚ good or bad. “Many learners wrongly believe that learning comes with age
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3 planning techniques adopted for planning the business strategy are: Boston Consultancy Group Matrix. According to the BCG matrix‚ companies’ business units can be categorized into 4 categories. These categories are based on the amalgamations of market share and market growth relative to the biggest competitor. Based on BCG matrix‚ it is very good for the company when its products have large market share or the product’s market is growing very fast. The Boston Consulting Group Portfolio Matrix
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war is an example of the importance of managerial accounting and the possible implications of mismanagement. FINANCIAL ACCOUNTING MANAGEMENT ACCOUNTING Assists with investment decisions Assists management to make decisions Is governed by GAAP principles (USA) No specific format Used externally by investors‚ customers‚ creditors Used internally by management Based on historical data Based on the present and is forward looking Well defined reporting period Reported as needed PROBLEMS IN
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