"Assets are defined as broad resources‚ having their own distinctive economic value that might be owned and facilitated to produce income for the business. Assets are traditionally shown on the right-hand side of a company balance sheet‚ and are largely made up of two very distinct divisions‚ each having their own merits and utilities to the business. The two types of assets are current assets and non-current assets."(Tondom‚2010)A current asset is a type of asset that can be sold or can generate
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Today’s business environment is becoming increasingly complex. Companies are new constantly implementing new technologies processes to help with output and efficiencies. With every technology and process the correct controls must be put in place. In addition to these self implemented tools‚ companies are under increased government regulation to validate their internal processes and controls. All of this activity needs a point person. That point person is the internal auditor. The purpose of this
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Week 5 Assignment: Community Landscape Project (page 1/5) Student: Tony Donnelly Student ID Number: 15505693 Risk Analysis: Introduction: Milestones are indicators that are inserted into a programme at points of strategic activity. These milestones enable us to track specific events so we can identify certain conditions through the course of a project. In the case of our landscape project we have five milestones inserted into our Gantt chart. They are at task 2 Design backyard‚ task
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Week 4 Assignment ACC 305 E8-13 Altira uses a periodic inventory system. Determine the inventory balance Altira would report in its August 31‚ 2011‚ balance sheet and the cost of goods sold it would report in its August 2011 income statement using each of the following cost flow methods: 1. First-in‚ first-out (FIFO) 2. Last-in‚ last-out (LIFO) 3. Average cost E8-14 Altira uses a perpetual inventory system. Determine the inventory balance Altira would report in its August 31‚ 2011‚ balance
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Sandra Wilson Week 2 Discussion 1 Dreams Do Come True Imagine that you have decided you need a new car‚ but not any car will do; you have decided to purchase the car of your dreams. Conduct some research as to the cost of this car. You have determined in this imagined scenario that you could afford to make a 10% down payment. You can borrow the balance either from your local bank using a four-year loan or from the dealership’s finance company. If you purchase from your dealership’s finance
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Colorado State University Global Campus Macroeconomics Final Project week 8 Econ 400 The first thing we learn in our macroeconomic class is that people face trade offs. It is hard to gage which trade off is better for us as a whole‚ when economists and politicians are split between both positive and normative‚ in
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site was acquired. 2. Paid $200 insurance to cover possible accident loss on new factory machinery while the machinery was in transit. 3. Paid $850 sales taxes on new delivery truck. 4. Paid $17‚500 for parking lots and driveways on new plant site. 5. Paid $250 to have company name and advertising slogan painted on new delivery truck. 6. Paid $8‚000 for installation of new factory machinery. 7. Paid $900 for one-year accident insurance policy on new delivery truck. 8. Paid $75 motor vehicle license
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------------------------------------------------- Week Three: The Evolution of Organized Crime and the Drug Business | | Details | Due | Points | Objectives | 1 2.1 Analyze the social disorganization in mid-19th-century America that created the climate for certain types of organized crime. 2.2 Explain the evolution of organized crime. 2.3 Describe the history‚ structure‚ and multinational operating methods of the drug business. 2.4 Analyze the relationship
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sold is $590. Both companies use perpetual inventory systems. Journalize the transactions on the books of both companies. Pocras Company: Accounts Receivable: Debit = $900‚ Credit = $900. Cost of Goods Sold: Debit = $590‚ Credit = $590. BE6-5: In its first month of operation‚ Moraine Company purchased 100 units of inventory for $6‚ then 200 units for $7‚ and finally 140 units for $8. At the end of the month‚ 180 units remained. Compute the amount of phantom profit that would result if the
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The International Accounting Standards Committee was formed in 1973. This committee was the first international standard-setting body. In early 2001‚ this Committee was reorganized and became the the International Accounting Standards Board (IASB) to independently develop and establish a single set of accounting procedures for international business. Since the reorganization of the IASB‚ the use of these international financial reporting standards (IFRSs) have been required or permitted in over 100
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