define accounting. What are the three main characteristics of accounting? Is accounting static or dynamic? Accounting collects‚ analyzes‚ measures and records financial information about an organization and reports that information to stakeholders and decision makers. Accounting has 3 essential characteristics. Accounting is the (1) identification‚ measurement‚ and communication of financial information about economic entities to interested persons. Like social sciences‚ accounting is largely
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What is the difference between accrual-basis accounting and cash-basis accounting? The variation between accrual basis accounting and cash basis accounting‚ is how cash is documented. Cash basis is an accounting basis that is used when expenses and revenue are paid out or received. This is when the transaction will be recorded. In accrual-basis accounting‚ transactions are recorded when they actually happen. Payment does not need to be made for the transaction to be recognized in accrual-basis
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“To Rule The Night” by James B. Irwin English 10 2/14/09 “As we flew into space we had a new sense of ourselves‚ of the earth‚ and of the nearness of God. I sensed the beginning of some sort of deep change taking place inside of me” -James B. Irwin The author’s purpose in the biography‚ “To Rule The Night‚” by James B. Irwin‚ is to inform the reader of his life‚ particularly his trip to the moon and how God opened doors for him to share the word with thousands of people.
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SOME PEOPLE BELIEVE THAT CHILDREN SHOULD HAVE VERY STRICT RULES OF BEHAVIOR‚ MANY OTHER BELIEVE THAT CHILDREN ARE ALLOWED TO DO ALMOST ANYTHING THEY WANT. TO WHAT EXTEND SHOULD CHILDREN HAVE TO FOLLOW RULES? The issue that is put forward in the given statement is controversial. Many people support that children should be raised with strict rules and some other claim that children should be free to do what ever they want. I tend to agree with the former view due to a variety of reasons. It is
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Rules of the Road Naomi Pelton HS130: Anatomy and Physiology II Unit #4 Assignment Kaplan University May 11‚ 2013 As we journey from the right femoral artery to the lower lobe of the right lung‚ we see many amazing sights. Starting at the femoral vein which is located in the upper right thigh and pelvic region of the body and runs close to the femoral artery. The femoral vein returns blood in the leg to the heart via the iliac vein. As we go north pass through the external and common iliac
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RULES OF PROCEDURE The formal session will be declared by the Chair. ROLL CALL 1. Present- When delegate answers in a present‚ he can say Yes‚ No or abstain during voting for a resolution. 2. Present and voting- When the delegate answers the roll call in a present and voting‚ he has to vote decisively on a resolution and has the option of only saying a Yes or a No to the resolution during the voting. He cannot Abstain. QUORUM This is the minimum number of members required for the committee proceedings
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“All laws are rules but all rules are not laws” The fact that all laws are rules but all rules are not laws can be wholly feasible. According to the Merriam-Webster dictionary‚ a “law” is outlined as an enforceable body of official rules and regulations‚ established by people in authority who use them to govern the affairs of people in a society whereas a “rule” is a special category of law written by state agencies to support‚ clarify‚ or implement specific laws enacted by the legislature called
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The lecture last night discussed accrual accounting concepts such as timing issues‚ and the basics of adjusting entries. The discussion went into more detail on periodicity assumption and how accounting divides the economic life of a business into artificial time periods. These time periods are generally a month‚ a quarter‚ or a year‚ now whether it is a fiscal year or a calendar year that is determined by the company itself. The lecture then reviews the revenue recognition principle which expects
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Chapter 2 Discussion Questions 1. What is the meaning of cost behavior and how does the variable cost behave differently than fixed cost (per unit & total)? Cost behavior is the change of cost relative to change in some extent of activity. The total fixed cost remains constant regardless of change in the volume of activity. However‚ the fixed cost per unit is inversely related to the change in the volume of activity. As the change in the volume of activity increases‚ the fixed cost per unit
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Comparing Accounting Software Programs to Manual Accounting Manual accounting uses several paper ledgers to record financial transactions. It is very time consuming to record each single transaction onto paper‚ being very cautious not to make an error. There are several ledgers for each part of the accounting system‚ such as accounts payable‚ accounts receivable‚ and revenue accounts. Combining these ledgers into one general ledger‚ provide the balance for each ledger. The general ledger
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