Master of Business Administration- MBA Semester 1 MB0041 – Financial and Management Accounting Q1. Accounting is one of the oldest‚ structured management information system. Give the meaning of accounting and book keeping? Explain the objectives of accounting? ANS. Meaning of Accounting- The systematic and comprehensive recording of financial transactions pertaining to a business. Accounting also refers to the process of summarizing‚ analyzing and reporting these transactions. The financial statements
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Accounting Basics: Introduction Accounting is a glorious but misunderstood field. The popular view is that it’s mostly mind-numbing number-crunching; it certainly has some of that‚ but it’s also a rich intellectual pursuit with an abundance of compelling and controversial issues. Accountants are often stereotyped as soulless drones laboring listlessly in the bowels of corporate bureaucracies. But many accountants will tell you that it’s people skills‚ not technical knowledge‚ that are crucial to
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A. What is the difference between accrual-basis accounting and cash-basis accounting? The difference between the two types of accounting is when revenues and expenses are recorded. In cash basis accounting revenues are recorded when cash is actually received and expenses are recorded when the expenses are actually paid. B. Why would politicians prefer the cash basis over the accrual basis? The accrual basis system deals with deprecation of the value of equipment‚ land and such. Politicians would
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of the times‚ people find it difficult to understand the various accounting Concepts. In this coursework‚ I shall analyze these concepts and explain them. First of all I shall discuss the materiality concept. WHAT IS MATERIALITY? Authoritative accounting bodies in the USA such as Financial Accounting Standard Board (FASB)‚ Securities and Exchange Commission (SEC)‚ General Accounting Office (GAO)‚ American Institute of Certified Public Accountants
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Short stories came into the literature world as brief‚ single sitting stories‚ yet containing an exclusively developed subject. A short story is packed with descriptive details that form together to grab the reader’s attention in a short amount of time. The authors indulge in rich details to create the narrative into a jaw dropping meaning story from the beginning to the ending. The author begins with constructing the story with the building blocks of literary devices. Short story authors apply the
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the open market and then the reporting of results of the tests in Consumer Reports‚ a monthly publication. Examples of the types of products it tests are middle-sized automobiles‚ residential dehumidifiers‚ flat-screen TVs‚ and boys’ jeans. a.) In what ways are the services provided by Consumers Union similar to assurance services provided by CPA firms? The services provided by Consumers Union are very similar to assurance services provided by CA firms. The services provided by Consumers Union
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There are two elements of Gambling‚ including game of chance and gambling mentality. Chance means people cannot control the outcome of an event but with possibility of winning. Player wagers money on irreversible bet in which the outcome relies on chance. Gambling mentality means the willing to take risk. To gamble on something is to take a risk on something in which the stake is involved. Pathological Approach to problem gambling Problem gambling is defined as pathological gambling under APA
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ENVIRONMENT Defining Environment Is the circumstances or conditions that surround one; surroundings. It is the totality of circumstances surrounding an organism or group of organisms‚ especially: The combination of external physical conditions that affect and influence the growth‚ development‚ and survival of organisms: Is the complex of social and cultural conditions affecting the nature of an individual or community Hence therefore we can classify components of environment as follows;
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Classmates‚ According to (Oster‚ 2014)‚ "Percentage of receivables and percentage of sales are two accounting allowance methods used to reconcile customer accounts deemed noncollectable. When allowed by generally accepted accounting principles (GAAP)‚ these two strategies are preferred over direct write-off of bad debt expenses. Percentage of receivables and percentage of sales provide a business with the ability to accurately estimate the expected bad debt losses they will have in each succeeding
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Elements of Crime Team D CJA/224 Professor Martin November 20‚ 2011 Elements of Crime Throughout this paper we are going to cover several key elements of crime. We are going to look how the elements of a crime apply to the overall criminal procedure process and how we can improve the understanding of criminal elements. Then we are going to cover what are the various legal defenses which are used and how does each of these defenses apply when in court and the overall criminal procedure
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