Integrated Accounting Daniel Evan G. Ong Jan Edick M. Esconde Mark Jay A. Lapidez ongdanielevan@yahoo.com je_esconde@yahoo.com markjaylapidez@ymail.com 09262057431 09223795744 09169957560 INTRODUCTION: PROJECT CONTEXT Integrated accounting is a well-known accounting system in which the accounts are integrated and only a single set of accounts are maintained‚ basically it avoids maintenance of accounts under cost accounting &
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......................... 14 3. Income statement: Income from continuing operations ................................................................................ 17 Discontinued operations ............................................................................................... 19 Extraordinary items ..................................................................................................... 22 Accounting changes and prior period adjustments ..........................
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are (1) reduced risk of obsolescence‚ (2) little or no down payment‚ (3) shared tax advantages‚ and (4) reduced recorded assets and liabilities. 4. When only the land is to be used‚ all demolition and removal costs of the building less any proceeds from salvaged materials are necessary expenditures to make the land ready for its intended use. Any costs for clearing‚ draining‚ filling‚ and grading are also part of the cost of the land. When both the land and building are to be used‚ necessary costs
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000 under liability because we now owe a debt. After fully balancing the equation‚ we had $200‚ 00 in assets (what we invested) and $100‚000 in liabilities and shareholder’s equity. Chapter 1 Accounting in Action: E 1-5 pg. 34 Instructions: For each of the three situations‚ say if the accounting method used is correct or incorrect. If correct‚ identify which principle or assumption supports the method used. If incorrect‚ identify which principle or assumption has been violated. E1-5
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Analytical Skills | Management: Environmental Influence | Dierdorff & Rubin: Managing the task environment 5. To successfully deal with today’s external environment and to achieve strategic competitiveness‚ firms must be aware and fully understand the different segments of that environment. ANS: T PTS: 1 DIF: Easy REF: 36 OBJ: 02-01 TYPE: comprehension NOT: AACSB: Business Knowledge & Analytical Skills | Management: Environmental Influence | Dierdorff & Rubin: Managing the task environment 6. The recent
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TEST PAPER 1 Subject: Hotel Accounting 1 Serial No: 72367B Test No: 1 Edition: 1 Student Name: Cosme‚ Felicia Student Number: 10011439164 Question 1: Assets Liabilities Owner’s Equity 1. Cash (Example) √ 2. Bank Overdraft √ 3. Capital √ 4. Loans √ 5. Salaries Payable √ 6. Land and buildings √ 7. Telephone payable √ 8. Advertising payable √ 9. Stock on hand √
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the Institute of Management Accountants‚ the employee’s next step should be to A. contact the IMA. B. contact the next level of management who is not involved in the ethical conflict. C. make the president of the company aware of the ethical conflict. D. report the incident to the State Board of Accountancy. E. resign from the company. 2. A direct cost is a cost that is: A. Identifiable as controllable. B. Traceable to the company as a whole. C. Does not change with the volume of activity.
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THE UNIVERSITY OF NEW SOUTH WALES SCHOOL OF ACCOUNTING FINAL EXAMINATION‚ JUNE 2009 J ACCT 5930 FINANCIAL ACCOUNTING • Time Allowed: Reading Time: This examination paper has 3 Hours 10 minutes 16 pages Total Number of Questions: 6 Total Marks Available: Answer ALL questions The questions are NOT of equal value All answers are to be written in the examination booklet provided Candidates are to supply their own calculators All answers must be written in ink. Except where they are expressly required
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ETHICS IN ACCOUNTING Presented by: Rojina Sapkota Abhilasha Thapa Pooja Shah Sandeep Gautam Mendhala Lama Gurung AND THE ACCOUNTING PROFESSION What is ETHICS? -All about making right choices and producing good behavior What is ETHICS in ACCOUNTING? -Being responsible enough to behave as a TRUSTWORTHY accountant. ROLE/IMPORTANCE OF ETHICS IN ACCOUNTING To provide true knowledge of the financial transactions taking place. To ensure correct decision making . WHAT IS AN ETHICAL DILEMMA
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Purpose of Accounting Accounting is a service activity. Its function is “to provide quantitative information‚ primarily financial in nature‚ about economic entities that is intended to be useful in making economic decisions in making reasoned choices among alternative courses of action” (Raiborn‚& Watson 2003). The main purpose of accounting focuses on the preparation of pertinent financial reports‚ which will give internal and external parties the essential information that is needed to access
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