MAA103 & MAAP103 - Accounting for Decision Making ASSIGNMENT – TRIMESTER TWO‚ 2011 (Relates to Topic 4) Represents 20% of the assessment for this unit DUE DATE: ASSIGNMENT PLANNER: MONDAY 1 AUGUST‚ BY 5.00pm FINAL ASSIGNMENT: THURSDAY 8 SEPTEMBER‚ BY 5.00pm NOTE the following general submission points: 1. 2. 3. 4. 5. Assignment can be completed in groups of no more than THREE students. Students CAN NOT complete assignment with students from other lecturers classes. Only ONE hardcopy of
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Can You Call A Nine Year Old A Psychopath? A psychopath is someone who is callous and someone that has no concern for others. Based on the New York Times article “Can you call a nine-year old a psychopath” by Jennifer Kahn‚ it is difficult to determine whether you can truly be judged a psychopath or not as a child. We like to automatically put a label on people who are a little bit off center from the rest of us whether there is something really wrong with them or not. This is hard for the kid
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What is a theory? In this book we consider various theories of financial accounting. Perhaps‚ there¬fore‚ we should start by considering what we mean by a ’theory’. There are various perspectives of what constitutes a theory. The Oxford English Dictionary provides various definitions‚ including: A scheme or system of ideas or statements held as an explanation or account (description) of a group of facts or phenomena. Explanation or Account (description) of a group
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A STICH IN TIME SAVES NINE This proverb is a counsel of prudence. Timely action very often prevents a great loss. Steps taken early means less labour‚ better success‚ less chance of loss or damage. Suppose their is a slight rent‚ in your garment or crack in the enbankment. If you put in a few timely stitches and repairs‚ further mischief may well be prevented. Similarly‚ if you do not attend to your books at the proper time‚ when the examination comes‚ you are at sea‚ you will be unable to cope
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Introduction to Accounting Accounting is a profession used to make financial and business decisions. Billions of dollars exchange hands every day‚ in millions of separate business transactions. These are recorded and reported on using a comprehensive set of guidelines‚ referred to as Generally Accepted Accounting Principles (GAAP). Brief History of Accounting Accounting was born before writing or numbers existed‚ some 10‚000 years ago‚ in the area known as Mesopotamia‚ later Persia‚ and today the
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Training Material on Internal Auditing Internal Auditing Handbook 1 Session 1 – External Audit........................................................................5 1.1 Definition and Objective.....................................................................5 1.2 Responsibilities of External Audit ......................................................5 1.3 Scope of the Audit .............................................................................6 1.4 Auditor’s Report Basic
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A stitch in time saves nine The meaning of this age old proverb is quite literal. It effectively warns us against neglect‚ small faults‚ imperfections which may develop into big trouble. A small timely effort will prevent more work later. A poet says‚ “Shun delays‚ they breed remorse”. Just as it takes a small spark to start a fire‚ if not put out in time causes great devastation. Similarly the minutest problem if not attended immediately could cause major catastrophe. Time waits for no one ‚
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Chapter 8 Activity-Based Costing: A Tool to Aid Decision Making Solutions to Questions 8-1 Activity-based costing differs from traditional costing systems in a number of ways. In activity-based costing‚ nonmanufacturing as well as manufacturing costs may be assigned to products. And‚ some manufacturing costs—including the costs of idle capacity—may be excluded from product costs. An activity-based costing system typically includes a number of activity cost pools‚ each of which has its
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A. What is the difference between accrual-basis accounting and cash-basis accounting? The difference between the two types of accounting is when revenues and expenses are recorded. In cash basis accounting revenues are recorded when cash is actually received and expenses are recorded when the expenses are actually paid. B. Why would politicians prefer the cash basis over the accrual basis? The accrual basis system deals with deprecation of the value of equipment‚ land and such. Politicians would
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employees is fair. In most cases when a union is involved‚ there is a percentage of compensation that has been agreed upon. 1.7) Financial accounting (i) Management accounting (h) Financial reporting (g) Financial statements (f) General-purpose assumption (b) Integrity (c ) Internal control (e) Public accounting (d) Bookkeeping (a) 2.3) Amber Company’s assets total $150‚000 and its liabilities total $85‚000. What is the amount of Amber’s
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