References: University of Phoenix . (2013). PowerPoint 2013. Retrieved from University of Phoenix ‚ XACC/291 website.
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Accounting Assumptions‚ Principles‚ and Constraints XACC/280 Accounting Assumptions‚ Principles‚ and Constraints The basic assumptions of accounting include the monetary unit assumption and economic entity assumption. The monetary unit assumption is described as what companies require as only transactional data that can be expressed in terms of money (Weygandt‚ Kimmel‚ & Kieso‚ 2008). The purpose of the monetary unit assumptions is to only reflect the financial impact of the business
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The Effects of Information Systems in an Organization XACC/210 - Accounting Information Systems 2013 The Effects of Information Systems in an Organization The company that I am going to speak about is the “xxxxxxxxxxx.” I worked in a managerial position for upward of 12 years for their chain store called “xxxxxx.” In the first five years of my employment‚ my company required me to count the number of cases received each week in our shipment. The delivery driver would scan the
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Cash Flow Week 7 Checkpoint XACC/291 Cash Flow 2 Generally‚ two approaches are used to prepare the statement of cash flows direct and indirect method. Of both these methods‚ the direct method results in a more easily understandable report. The direct method for preparing statement of cash flows emphasizes on reporting major classes of gross cash receipts and payments. A method of creating a statement of cash flow during
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Career Opportunities for Accountants Shirley Scott XACC/280 August 17‚ 2013 Toral Kapur The two business sectors I would want to work in is manufacturing and sales and services. Manufacturing as an audit accountant because‚ first auditing is an important aspect of any business‚ also an audit accountant check accounting ledgers and financial statements. It gives an accountant some great experience in the business world and I would want to do internal audit accounting because it is important
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Sarbanes-Oxley Act Matthew Greenwell Professor Eric Weitner XACC-291 January 23‚ 2015 In any society there will be people that will do anything to succeed in life which includes breaking the law or even finding loop holes within laws. Now the Sarbanes-Oxley Act is a federal law to try and protect shareholders and the general public from fraudulent practices but in the end it is just a law and all laws can be broken. Some critics have pointed out the “Madoff scandal as a prime example of how the
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Week 4 Checkpoint March 17‚ 2013 XACC/290 Resource: Ch. 4 of Financial Accounting Complete Exercise BE4-1. Complete Problems 4-2A & 4-3A. BE4-1: |Cash |Net Income | |-$100 |$0 | |-$20 |$0 | |+$1‚300 |$1‚300 | |+$800 |$800 | |-$2‚500 |$0 | |-$600 |$0 | | |
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ACCOUNTING/291 Capital Expenditure vs Revenue Expenditure Carlos Flannigan XACC/291 Instructor: Tameka Johnson October2 ‚2014 Expenditures are unavoidable for any company to exist in the competitive market‚ to expand the business or to find new opportunities to open up beneficial business
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Juliana Borges Connie Robin Gibson XACC/290 June 9‚ 2013 BE5-1: A. $181‚500 B. $41‚200 C. $38‚000 D. $17‚900 E. $8‚500 F. $63‚400 BE5-2: Pocras Company buys merchandise on account from Wedell Company. The selling price of the goods is $900 and the cost of the goods sold is $590. Both companies use perpetual inventory systems. Journalize the transactions on the books of both companies. Pocras Company: Accounts Receivable: Debit = $900‚ Credit = $900. Cost of Goods Sold: Debit = $590
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Preferred Stock Benita Becton XACC/291 08/23/13 Lisa Pendleton Preferred Stock Preferred stock is capital stock that has some contractual preferences over common stock. These particular stocks give stockholders a priority in distributions of earnings and assets in the event of liquidation. Dividend preferences are one of those features that make preferred stock attractive to investors. If the dividend rate on preferred stock is 5.00 per share‚ then common stockholders don’t receive their
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