8/2/2012 Objective of Lecture 2 CLASSIFICATION OF ACCOUNTS & ACCOUNTING EQUATION • By end of lecture 2‚ all students should be able to:(a) Understand the five categories of accounts and able to classify them into the respective categories (b) Understand the accounting equation and the relationship between assets‚ liabilities and owner’s equity. Classifications of accounts • • 1. 2. 3. 4. 5. An account is used to record all information regarding an item. The five major
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ACCOUNTING SUBSTANCE OVER FORM Substance over form is an accounting concept where the entity is accounting for items according to their substance and economic reality and not merely their legal form. It is one of the key determinants of reliable information. For most transactions there will be no difference and in some cases however‚ the two diverge and the choice of how to present the transactions can give very different results. This differences occurs when an asset or liability is not recognized
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-Magic Carpet trip around the world in 40 minutes. -SECURITY -Europe -> Security Challenges; airlines served Europe‚ they put less money into their air security. -Saudi Arabia -> concerned about oil out of control. Could hurt badly. Instability is there in general. Iran and Saudi Arabia= enemies . Nuclear weapons. -Persian Gulf-> -Iran sponsors terrorism‚ better than Alkada. Doesn’t believe in the state of Israel and they pursue nuclear weapons. Iranian Sheia endure pain Conflict
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Rikitha Muppala Ms. Kinzer English 9H 2/2/15 My Personal Strengths and Weaknesses Everyone has their own personal strengths and weaknesses. I believe that life is a learning experience and being able to recognize our own strengths and weaknesses can help us become better individuals. Knowing yourself and what you can do‚ can help you overcome your weaknesses. One of my greatest strengths that I have recognized is my ability to be a well-organized individual. Being organized
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Weakness 1. Increases in costs of goods sold (85m) and inventories(18m) disproportionate with growth of sales 2. Current purchasing system contributed to redundant purchasing and high inventory holding costs 3. Siti Aminah (CFO) has no experience in system and technology 4. Internal control weaknesses: Purchasing system Current purchasing system contributed to redundant purchasing and high inventory holding costs and caused increases in costs of goods sold and inventories disproportionate
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101-00128 Oct 2014 Accounting Accounting is the recording‚ measurement‚ and interpretation of financial information (Business 286). This financial information is used to evaluate the organization’s operations. To carry out these interpretations of financial information a public or private accountant is able to do this. To become a public accountant you must earn your CPA (certified public accountant) by passing a test and means you are certified by the state in which you provide accounting services where
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The Strengths and Weaknesses of the Declaration of Independence The Declaration of Independence was written by Thomas Jefferson and four other writers. It was written in June 1776. The Second Continental Congress appointed these men to make a document declaring the colonies independent from Britain. They were first called the Articles of Confederation and after the Revolution‚ the document was questioned. With the questioning the Constitutional Congress made some major changes. These changes although
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comparison of a job order cost system and a process order system will be analyzed to decide which would be the best fit for Super Bakery‚ Inc. Super Bakery... Save Paper Case 19-1 Bennet Body Company simplicity of computation. Under our present production‚ it is preferable to stick with Job Order costing‚ unless we change our products to a more standard design... Save Paper Cost Methods Finally‚ the paper will divulge why a job order cost system or a process order cost system would or would not work
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Constitution Paper The Constitution is the backbone of American. It is the freedom‚ rights‚ and laws of every American. The Constitution is one of the most important documents to this country. It helped to develop the Great Compromise‚ it confronted the weaknesses in the Articles of Confederation‚ and it also addressed the grievances in the Declaration on Independence. The Great Compromise The Great Compromise was created by Roger Sherman in order to settle a debate between the large states and the small
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I am an ISTJ‚ and I have some strengths and weaknesses. Here are some of my strengths. I’m very honest and direct. And I’m strong willed and dutiful. Working hard and staying focused is my goal. Very patient and responsible. Promise means everything and I’m very calm and practical. I keep my feet on the ground and won’t lose my temper. And I make clear rational decisions. People’s preferences are a factor to consider. I believe that if everyone is involved and knows what is going on you will get
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