Executive Summary GAAP‚ generally accepted accounting principles‚ are the rules for preparing the financial statements. There are specialized professionals FASB‚ SEC‚ AAA‚ FEI‚ IMA‚ AIMR and others for developing GAAP. There are 13 principles for preparing Financial Statement. Business Entity Principle requires business to be separated from owner of the business. Going Concern principles requires the business to assume that the business will for long time. Revenue Recognition Principle considers
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As an undergraduate student at Indiana University‚ I hope to accomplish my goal of becoming a Certified Public Accountant by earning an undergraduate accounting degree from the Kelley School of Business. One of my goals while on campus is to live in the Kelley LLC so I can meet people with similar passions for business and accounting. I am an excellent and self-motivated high school student‚ and I expect this to continue into college. My main academic goals while I am at IU are to enroll in the Hutton
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The ethical dilemma in this case is one that Daniel Potter is faced with. Daniel is a staff accountant at a Big Eight accounting firm‚ Baker Greenleaf. He was given the duty of performing an audit on a wholly-owned real estate subsidiary (Sub) of a long-standing and important client of his firm. Oliver Freeman is Daniel’s project manager. Oliver is the one that gave Daniel the task of performing the audit‚ and he is expecting a clean opinion from Daniel on the analysis of the Sub in
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Introduction Financial accounting and management accounting both prepare and analyze financial data. However‚ certain aspects of these two fields are very different. This article discusses the various differences between financial accounting and management accounting. The differing characteristics to be discussed include the users of information‚ the types of information‚ regulatory oversight‚ and frequency of reporting. Users of Information Financial accounting and management accounting provide
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article submission) - summarize what the article/journal is about (include main ideas from the article) - what did you learn from this article? - how does this impact businesses? - how will this new information help you as a business professional/accounting professional? - include other comments (what additional questions do you have for the author based on what you read‚ what other information could have been included to make this article even more insightful) - your summary should be minimum of
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Chapter 1 1 Introduction Economics and managerial decision making 2 Economics: The study of the behavior of human beings in producing‚ distributing and consuming material goods and services in a world of scarce resources Management: The science of organizing and allocating a firm’s scarce resources to achieve its desired objectives Managerial economics: The use of economic analysis to make business decisions involving the best use (allocation) of an organization’s scarce
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Accounting (Managerial) 530 Portfolio Case Study Imagine you are applying to become a trainee in a management consulting company‚ Solutions Inc.‚ which claims to deliver innovative solutions. They are looking for innovative employees who engage with their work. The selection process will be rigorous. You know you will be asked to submit reports based on questions regarding your knowledge of management accounting practice and strategic management accounting. To provide a context for the reports
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1 Understand why communication is important in adult social care. 1.1People communicate to express their ideas‚ feelings and needs. To be able to ask questions and share opinions and to also get to know each other. 1.2 Individual communicate to express their needs and we are here to make sure they are met and as I carer I am able to discuss to the clients options with them and allow them to make their own choices. 1.3 When talking to an individual they may not indicate verbally if they have understood
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THE UNIVERSITY OF NEW SOUTH WALES SCHOOL OF ACCOUNTING FINAL EXAMINATION‚ JUNE 2009 J ACCT 5930 FINANCIAL ACCOUNTING • Time Allowed: Reading Time: This examination paper has 3 Hours 10 minutes 16 pages Total Number of Questions: 6 Total Marks Available: Answer ALL questions The questions are NOT of equal value All answers are to be written in the examination booklet provided Candidates are to supply their own calculators All answers must be written in ink. Except where they are expressly required
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Financial Statement Differentiation There are four different types of financial statements; they are balance sheets‚ income statements‚ retained earnings statements‚ and statements of cash flows. Each of these financial statements are important to investors‚ creditors‚ and management in various ways. This paper will provide further insight into these financial statements as well as explore‚ which of these would be of interest to investors‚ creditors‚ and management. Financial Statements
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