|Term-Concepts |Definition | |Purpose of Accounting |Communicating financial information to end users so they can make informed decisions. | |Accounting Entity |The financial affairs of the business are separate and distinct from the financial affairs of the owner. | |Monetary Concept |All transactions are recorded in
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General Accounting Department to reduce hundreds of millions of dollars in line cost expenses and increase capital asset accounts by the same amount through fraudulent adjustments and entries in WorldCom’s general ledger to mask WorldCom’s true performance. These entries were made after the close of the quarter and lacked any business justification or supporting documentation. Sullivan explained to Ebbers that to meet Wall Street expectations the Company would have to engage in accounting practices
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INTRODUCTION TO ACCOUNTING ACNT 1303 Lecture Notes GENERAL INFORMATION FOR COMPLETING THE CLASS The following is a summary of the twelve chapters that you will be completing this semester. Be sure that you are taking the time to read and STUDY each chapter. It is important to go through each of the examples in the book and to complete the Review Quiz. Spending time reading and understanding before you start the homework assignment will help you to complete in the exercises and case problems
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------------------------------------------------- Movie Accounting By Steven Anderson ------------------------------------------------- Movie Accounting By Steven Anderson MGMT 505 MGMT 505 * Contents 1. Introduction 2. Movie Life Cycle in Business Terms 2.1. The Pitch – Literary Property 2.2.2. The Budget as an indicator of revenue 2.3. Principle Photography 2.3.1. Completion Guarantor 2.4. Post-Production 2.4.1 Negative Cost 2.5. Distribution 2.5.1. Distribution
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Accounting historians have attempted to relate their knowledge of the variety of accounting practices at various points of time‚ and in various places. It is to wider questions of the role of accounting in reflecting and shaping not only business and management practice‚ but also economic and social organization more generally. Finley’s classic ¡§The Ancient Economy¡¨ ‚ which analyzed the embedded-ness of ancient economic activity in the social structure‚ and in the status concerns of the free citizens
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Introduction The place of measurement is crucial in accounting. Measurement is vital to accountants for recording‚ summarising‚ reporting financial transactions and preparing financial statements that should indicate the true position of an entity. However‚ accounting measurement issues are seen to be problematic as many measurements are derived. According to Mary E. Barth (2007)‚ an analysis regarding the latest activities of the International Accounting Standard Board (IASB) have revealed that the
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Government accounting system (SAPP) Government accounting system is a set of procedures‚ both manual and computerized‚ ranging from data collection‚ recording‚ overviewed‚ to report the financial position and financial operations of the central government Government accounting system purpose: 1. Safeguarding asset government to ensure that assets can be maintained through a series of processes of recording‚ processing‚ and financial reporting consistent with the standards 2. Relevance
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The outcome must be defined in terms of measurable or assessable performance (criteria). This includes the time allowed‚ level of proficiency and minimum number of correct answers required (eg 10 out of 12...90% accuracy [how well]). The conditions under which the objectives have to be achieved must be spelled out and clearly understood by everybody. These include both restrictions and the media to execute the actions contained in the outcomes‚ say‚ if the teacher requires a task to be performed without
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| |1. |Which of the following is the best definition of personality? | | | |a. | | | |Personality is an aggregate set of traits that are mostly determined at birth. | |
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Dividends on the arrears on the preferred stock for 3 years is calculated as: 100‚000 shares * $100 par value * 6% dividend rate * 3 years = $1‚800‚000 The amount of dividends in arrears must be disclosed in the financial statements. They are generally written in the notes section at the end of the financial statements. They can be formally included in the statement as a liability once they are declared by th board of directors of the company. Brief Exercise 11.4 Dividend on 6% preferred
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