in a cashless society as a society that does not have both physical bank notes and minted coins as well as personal cheques. All purchases in a cashless society would be made through electronic funds transfer. Examples of such include credit or debit cards‚ online Internet and mobile phone banking. The first argument to support the fact that we are moving towards a cashless society is that people are using less cash. This is evidenced by a decrease in the total number of withdrawals made by
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D I S S E R T A T IO N P R O P O S A L Student Name: NAZLIN QASAM BT MOHD RAFEKK Student Number:1070392 Degree Programme: Accounting & Finance Managing Field: Accounting Dissertation to be submitted: May Area of Dissertation: COMPARISON OF FINANCIAL INNOVATION IN MALAYSIAN BANKING AND AMERICAN BANKING INTRODUCTION RESEARCH OBJECTIVE LITERATURE REVIEW RESEARCH METHODOLOGY RESEARCH SCHEDULE This research will take some time to finish it. It is because the research
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Knowledge management Year 2012-2013 Final assignment MasterCard Product Knowledge University of Groningen Faculty of Economics and Business Page 3………………………………………………………………. The company Page 4……………………………………………………………….. The research Page 5……………………………………………………………………… Question Page 5 …………………The products and commercial departments Page 5 ………………………………………………………………………………………………………………………Processes Page 6 ……………………………………………………………………………………………………………………………Tasks
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instead of loans and discounts‚ there would be an itemized list of the loans with the names of the borrowers. With such a sheet spread out over a floor space of great area‚ we might imagine the clerks crawling up and down the columns like flies making debits and credits. This is‚ of course‚ absurd‚ but it is precisely what happens‚ except that the entries are made on books‚ loose leaves or cards‚ and the final results are posted on the statement of condition which is thus altered day by day. As in other
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Lucas Pacioli in 1494 A.D. According to J.R.Batliboi “Every business transaction has a two-fold effect and that it affects two accounts in opposite directions and if a complete record were to be made of each such transaction‚ it would be necessary to debit one account and credit another account. It is this recording of the two fold effect of every transaction that has given rise to the term Double Entry System”. Golden Rules of Accounting Illustration Solution Journals • The book
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journalize. When the company journalizes the accountant applies the rules of double-entry accounting. Remember that double-entry accounting means that each transaction must be recorded in at least two accounts or that the debits must equal the credits. After applying the rules of debits and credits‚ the accountant should then record the transactions in a journal‚ or journalize. A journal is a complete record of each transaction. It’s easy to remember‚ because journal entry has the word journal in it
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more convenient for them to shop by introducing a new payment option. Under a tie-up with e-payments service provider NETS‚ Chinese nationals will be able to use their China UnionPay (CUP) bank debit cards to pay for their groceries at all 23 Sheng Siong outlets. CUP is the largest domestic debit card network in China‚ with more than 1.9 billion cards issued to date. The card is a vital payment tool for Chinese nationals overseas‚ as they can only bring out of the country a maximum US$50
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the following two ways: (i) First method (Starting with the cash book balance) (ii) Second method (Starting with the bank statement balance) First Method (Starting With the Cash Book Balance): |(a) |If the cash balance is a debit balance‚ deduct from it all cheques‚ drafts etc.‚ paid into the bank but not collected | | |and credited by the bank and added to it all cheques drawn on the bank but not yet presented for payment. The new | | |balance will agree
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of recording transactions consists of determining what accounts are affected‚ whether they are asset or liability and equity accounts‚ and whether they are to be increased or decreased. With this information‚ any transaction can be recorded. • Debits and Credits. It is awkward to speak of entries “to the left side
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com/basic-accounting-formula 3. Transaction‚ t-account: debits and credits are entries made in account ledgers to record changes in value which is caused by business transactions‚ all of this is done in double entry bookkeeping. http://en.wikipedia.org/wiki/T_accounts 4. General Ledger: This is the main ledger that will have all of the financial accounts of a business; contains the offsetting debits and credit accounts. http://wordnetweb.princeton.edu/perl/webwn?s=general ledger 5. Debit: An entry that is recorded of
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