external users 4. FASB – responsible for GAAP (accounting principles) 5. Accounting Equation 6. Know the 3 activities that business engage in and give examples of each activity. (These 4 questions also relate to Chapter 12‚ The Statement of Cash Flows) 7. The International Accounting Standards Board is responsible for developing a single set of worldwide accountings standards (IFRS). 8. These standards will help companies to reduce accounting costs‚ make it easier to acquire foreign companies
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(a) Briefly explain what prompted some countries over the world to strongly advocate harmonization of accounting. The important reasons which necessitate harmonization of accounting practices are well contained in the observation made by Saudagaran. “While the initial efforts at harmonization were mainly championed by political bodies and professional accounting organizations‚ current pressures to harmonize are driven by investor groups who use financial statements‚ multinational companies which
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—Conceptual 21.Which of the following is not considered cash for financial reporting purposes? a.Petty cash funds and change funds b.Money orders‚ certified checks‚ and personal checks c.Coin‚ currency‚ and available funds d.Postdated checks and I.O.U. ’s 22.Which of the following is considered cash? a.Certificates of deposit (CDs) b.Money market checking accounts c.Money market savings certificates d.Postdated checks 23.Travel advances should be reported as a.supplies. b.cash because
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http://smallbusiness.chron.com/difference-between-traditional-accounting-computerized- accounting-4021.html INTRODUCTION: Before the advent of fast and cheap computers‚ accounting traditionally was processed manually with all transactions recorded in columnar papers and kept in voluminous binders. Once computers became popular and software affordable‚ accounting tasks moved into this medium‚ where concepts stayed the same but mechanics changed from papers to programs. AIMS AND OBJECTIVE:
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Accounting and Life Paula Grace L. Emboltorio‚ BSA 1-5 The first semester is nearly ending and our final exams are coming soon. We have already encountered a lot of challenges‚ from floods on the roads to surprise exams from our professors. We have been surviving our course for more than five months now. We are closest to finishing our lessons but have we learned enough to apply accounting lessons into our life? Have we even thought that we can turn accounting lessons into life lessons? The first
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+0)26-4 Accounting Theory NEED FOR ACCOUNTING Business is one of the sources of earning income. Whenever a business is started‚ it requires investment of certain amount which is called as capital. With this amount of capital the businessman may deal either with trading business or manufacturing business. In a trading business‚ he will buy goods at a lesser price and sells the same to others at a higher price. In case of manufacturing business‚ he has to buy raw materials and incur other
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Week Two Quiz Chapter 4 Tissues ________________________________________ 1. The four primary tissue types are a. epithelial‚ cartilage‚ muscle‚ and brain. b. connective‚ eipithelial‚ skin‚ and blood. c. epithelial‚ connective‚ muscle‚ and nerve. d. glands‚ bone‚ lungs‚ and kidney. e. bone‚ skin‚ blood‚ and muscle. 2. Epithelial tissue is characterized by a. tightly packed cells. b. absence of any basement membrane. c. extensive extracellular matrix. d. a rich blood supply
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Week Four Quiz Chapter 9 Muscular System: Histology and Physiology ________________________________________ 1. Which of the following is NOT a function of skeletal muscle? a. body movement b. maintenance of posture c. respiration d. constriction of organs e. production of heat 2. Which of the following is true? a. Skeletal muscle is capable of spontaneous contraction. b. Smooth muscle is found in the walls of hollow organs. c. Cardiac muscle cells have multiple nuclei. d. Smooth
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CheckPoint TCP/IP LAN Plan 1‚ 2‚ 4‚ 11‚ 14‚ 15‚ 16‚ & 20 1. An IPv6 address is made up of how many bits? d. 128 IPv6 uses 128-bit hexadecimal addresses and has built-in security and QoS features. An IPv6 address is 128 bits rather than the 32 bits in an IPv4 address. This length increases the number of possible addresses from about 4 billion in IPv4 to 3.4 x 1038 addresses (that’s 34 followed by 37 zeros!) in IPv6. Unless IP addresses are assigned to every star in the universe‚
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a standard of methods that accountants and others use to prepare their financials. http://www.suite101.com/content/what-is-gaap-a28142 * Basic accounting formula: The formula or equation takes what a owner might owe to creditors and others adds it to what the owner might already own and factors in what the business owns. The equation can be done in different ways‚ but no matter there is always a balanced outcome. http://www.moneyinstructor.com/lesson/accountingtransaction.asp
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