Chapter 2: The Use of Funds in Governmental Accounting Multiple Choice 1. To what does basis of accounting refer? a. whether an entity is trying to measure the excess of inflows over outflows b. how much cash an entity received in a particular reporting period c. the timing of recognition of assets‚ liabilities‚ revenues‚ and expenditures/expenses in financial statements d. the ownership of the assets‚ liabilities‚ and equities reported in a balance sheet Answer: c
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legal systems. They are Common Law and Civil Law. Per the World Fact book‚ China and the Czech Republic follow the Civil Law System while Gambia practices a Mixed Law. China: The Republic of China is the most heavily populated country in the world. They follow the Civil law Legal system. Chinese accounting standards were set when China was a socialist country. Thus asset availability was more in playing that profit and loss. The Ministry of Finance requires companies to following the China GAAP
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CONTENTS INTRODUCTION What is Accounting Branches of Accounting Definition of Environmental Accounting Definition of Management Accounting Functions of Management Accounting LITERATURE REVIEW MANGEMENT ACCOUNTING SYSTEM Features of Useful Management Accounting AN INTRODUCTION TO ENVIRONMENTAL ACCOUNTING {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item}
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"What is responsibility accounting? Is it used at your current (or former) place of employment‚ and if not‚ would it work? Why‚ or why not?" According to allbusiness.com‚ responsibility accounting is defined as a “collection‚ summarization‚ and reporting of financial information about various decision centers (responsibility centers) throughout an organization” (allbusiness.com). The article also explains that responsibility accounting helps an organization trace costs‚ revenues and profits to
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The world is filled with many diverse media systems. These media systems are built on many elements from cultural characteristics to media content. China‚ for instance has very distinct news reporting guidelines and regulations that affect the media content. In the United States media regulations affect what media we are exposed to and the news reporting that is present. These two media systems have some similarities but they differ greatly from each other in the way and extent that their media
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Re Kingston Cotton Mills Auditors are watchdogs not bloodhound Entitled to trust the officers and employees of the co being audited Entitled to rely on the figures presented to them Have any reason to be suspicious‚ should personally make enquiries or checks APPOINTMENT Approved co and consent to act as auditor S8 appoint approved co auditor applied to Minister to Finance satisfied Minister of good character and competent to perform the duties of auditors i) granted with approval to act or ii)
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1. Examine the underlying historical and economic reasons as to why the quest for alternatives to incarcerating offenders in jails and prisons. 2. Describe three alternatives to incarceration that juvenile courts currently use. 3. Discuss the significant and societal and individual benefits of imposing sanctions or punishments that do not involve removing an offender from his/her family or community. Strayer University Historical and Economic reasons In the early 1920’s and 1930’s instead of placing
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objectives. In doing its work‚ an organization uses resources – labor‚ materials‚ various services‚ building and equipment. These resources need to be financed‚ or paid for to work effectively‚ the people in organization need information about the amounts to these resources‚ the means of financing them‚ and the results achieved through using them. Parties outside the organization need similar information to make judgments about the organization. Human beings have limitations. Everyday transactions cannot
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The study aims to help and assess the effectiveness of computerize accounting system for organizations. It applies a case study plan to create the appropriate system for the Mimosa Company which is chosen by the proponents to be the case of the study. This chapter includes related literature to support the development of the proponents study and. The following literatures are to affirm the need to create a computerize system for the said company. In our generation‚ computers are widely
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ENVIRONMENTAL FACTORS External environmental factors include sociocultural‚ Legal‚ Economic‚ Political‚ and Technology. The micro environment on the other hand comprises the industry and market. SOCIOCULTURAL FACTORS. Religion‚ education‚ ethnicity‚ education and language‚ age group‚ family‚ cross cultural differences. In 1978‚ the Chinese government introduced a birth control policy of one child per family. (Newsweek 2014) This in the long run will reduce both sales and labor availability
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