1. Introduction Increasingly‚ we are seeing many firms from various industries allowing their customers to pay on credit. This action will inevitably have a direct implication on the financial statements of these firms‚ in terms of accounts receivables‚ allowance for bad debt and uncollectible debt expense. This is especially so when customers are unable to repay their debts. In this paper‚ we will examine the 2008 financial statement of four companies in the retail industry‚ namely
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detailing the benefits and defects of both types of rules. More recently‚ the Rule of Law encompasses both rules (mainly Statutes) and judiciary-made rules. Statutes are necessary to limit judges’ ultra vires but at same time‚ judiciary precedents are needed to ’complete loopholes’ within these general statutes. As seen throughout the discussion‚ notwithstanding defects/benefits statutes and judiciary-made rules have‚ both are incident to the Rule of Law. Greek Debate over what is incident to
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Introduction: This cash management report will analyze and interprets the trends for a business called “SERENA’S WORLD OF SHOES“ financial performance in terms of liquidity and efficiency with which it will focus on the assets and liabilities of the business. This report will describe the trends‚ causes of these trends and strategies for improvement with the help of various analytical tools. Findings Liquidity Liquidity analytical ratios (Key performance indicators) 2011 2012 Working
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FUNDS FLOW STATEMENT Meaning The term “Flow” means change and therefore‚ the term “Flow of Funds” means “Change in Funds” or “Change in Working Capital “. In other works‚ any increase or decrease in working capital means “Flow of Funds”. There are two concepts of working capital – gross concept and net concept. • Gross working capital refers to the firm’s investment in current assets • Net working capital means excess of current assets over current liabilities. In business several
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Solving problems and making decisions Background As the Head Phlebotomist at the RD&E Wonford site I oversee the day to day running and supervision of 32 members of staff. 20 staff members are contracted‚ working between 12 and 37.5 hours per week and the remainder are bank workers working on an ad-hoc basis when required. Daily we have a minimum of 15 phlebotomists working throughout the site. The role of the phlebotomist is primarily to obtain blood samples from inpatients and outpatients as requested
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Chapter 9 – Auditing the Expenditure Cycle Summary Purchases and Cash Disbursement Procedures Using Batch Processing Technology Many batch system functions are the same as those in a manual purchase system. The main difference is that the routine accounting tasks are automated. Data Processing Department: Step 1 – the purchasing process begins in the data processing department‚ where the inventory control function is performed. The revenue cycle (in retailing firms) or the conversion cycle
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introduced. However‚ there have been issues associated with the efficiency and effectiveness of the same. Rampant leakages and corruption have made many of the schemes and programs dysfunctional. Direct Cash Transfer to the poor has been aimed to mitigate these malaises. Need for Direct cash Transfer: Recent studies by the Planning Commission have shown that the Public Distribution System has become so inefficient that 58% of the subsidized grains do not reach the targeted group and almost
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Analyse the benefits to Kate’s business of using a consultant. A consultant is some one who is there to offer advice to those in need of assistance. One benefit of Kate using a consultant to help with her business is that she is able to find out what steps are needed to be taken to help the business run smoothly. A consultant is able to help let Katie know what legal steps need to be taken and what is needed to be done to keep the business safe e.g. Having Insurance. According to the case study
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Cash account and accrual accounting are two separate methods that are similar in many aspects except when it comes to debits and credits. Cash accounting is also known to be called cash basis accounting. This approach allows for the recognition of income at the time it is received. That means that invoiced income is not counted as an asset until payment for the invoice has been received and vice versa for debits and expenses. Accrual accounting does not recognize any income until it is actually earned
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What Benefits Can Traveling Give? Leisure traveling has many benefits. It is no wonder that many people love to travel. It is very common‚ nowadays‚ for people to just get away on a vacation trip any time. Some even consider traveling as part of their routine lifestyle. Perhaps‚ the reason for its popularity is because more people have come to realize the benefits of traveling. People from all walks of life‚ both young and old‚ enjoy traveling. Most of the younger travelers tend to seek for
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