Accounting Homework Individual Chapter 7 Question 1&2 1. (a) What are generally accepted accounting principles (GAAP)? In the U.S.‚ generally accepted accounting principles‚ commonly abbreviated as US GAAP or simply GAAP‚ are accounting rules used to prepare‚ present‚ and report financial statements for a wide variety of entities‚ including publicly-traded and privately-held companies‚ non-profit organizations. (b)What bodies provide authoritative support for GAAP
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Nature of Accounting and the Accounting Standard Background Accounting is an important part for business and it is dubbed “language” of business activities conducted by firms. People think it is used to communicate business transactions per se to all stakeholders. However‚ some people argue that the functions of accounting are not that easy. Except the communication tool‚ accounting acts as many other difference roles in business. When doing accounting‚ different standard may be used. There are
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Objectives Accounting and the Business Environment 7111AFE Topic 1 1. Use accounting vocabulary. 2. Apply accounting concepts and principles to business situations. 3. Use the accounting equation to describe an organisation’s financial position. 4. Use the accounting equation to analyse business transactions. 5. Preparation of financial statements. 1-2 Objective 1 Accounting... is an information system that... Use accounting vocabulary measures business activities‚ processes information‚ and
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fatalism Grade: User Responses: Feedback: b. c. d. e. Government should be involved in protecting the health of the financial industry over individual citizens’ rights. Government should allow the market economy to be free and unrestricted. Government should not obstruct individuals’ efforts to obtain property. Government should promote equality only to those who were born in the country. The national government should become more involved in state politics. Grade: User Responses: Feedback:
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1. Which of the following statements regarding fire-retardant treatment of wood is MOST accurate? A. the fire retardant is intended to occur at temperatures lower than those developed in fires. B. the fire retardant is intended to occur at temperatures higher than those developed in fires C. all chemicals used as fire retardants can be used for exterior applications D. fire retardant treatment of wood increases its strength 2. Most fire-retardant chemicals operate by: A. accelerating the
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Internet in Malaysia. Your report should integrate all the information given below. You should write 150 to 200 words. Computers have become a part of life for Malaysians. Findings show that there are 10 million Internet users in Malaysia who surf the net on an average of 9 hours per week. Males make up 50.2% and females 49.8% of internet users. Distribution of Internet Users [pic] Distributions of Internet Users by Activity in Malaysia (2005) (based on multiple responses)
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Department of Accounting Detailed Syllabus of Third Year Four-Year B.B.A. (Honours) Course Effective from the Session: 2009–2010 National University Syllabus for 4 years BBA Honours Course Subject : Accounting Third Year (Honours) Third Year: 32 Credit Hours Course Code COURSE TITLE Marks Credit Hours Audit and Assurance 100 4 Advanced Accounting-I 100 4 Cost Accounting 100 4 Management Accounting (in English)
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BUSN1002 Financial Accounting Processes Semester 2‚ 2013 LECTURE OUTLINES 1 – 6 Topic Coordinator: Philip Palmer Room 3.70 Law and Commerce Building Email: philip.palmer@flinders.edu.au Ph: 8201 2013 FLINDERS UNIVERSITY FLINDERS BUSINESS SCHOOL BUSN1002 Financial Accounting Processes Philip Palmer Lecture Outline 1 Introduction to Financial Accounting Reading: Hoggett et al.‚ Chapters 1 and 2 1 Introduction to Accounting Accounting is an information system designed to
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100 multiple-choice questions from the information presented in Chapter 1 through Chapter 13. Each question is worth 2.5 points. This study guide indicates the items you should review before taking the exam. GOOD LUCK! CHAPTER 1 1. Know the 3 forms of business entities 2. Know the definitions of revenues and expenses 3. Know the difference between internal and external users 4. FASB – responsible for GAAP (accounting principles) 5. Accounting Equation 6. Know the 3 activities that
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Contents Introduction …………………………………………………………………………………… Page 1 Roles of accounting ………………………………………………………………………… Page 1 Jobs available in accounting field …………………………………………………… Page 1 Salary …………………………………………………………………………………………….… Page 2 Computerised accounting ………………………………………………………………… Page 2 Source documents …………………………………………………………………………… Page 3 Conclusion ……………………………………………………………………………………… Page 3 Appendix 1 ……………………………………………………………………………………….. Page 4 Appendix 2 ………………………………………………………………………………………
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