Financial Reporting Problem Part 1 XACC/290 March 1‚ 2015 Financial Reporting Problem Part 1 J.P. Morgan is a company in the banking industry. J.P. Morgan was established in 1799 and despite multiple stock market crashes and recessions; it is a company that continues to do well in its sector (JP Morgan‚ 2014). J.P. Morgan Bank is the publicly traded company that I chose to analyze the 2013 annual report. At the end of 2013‚ the total assets of J.P. Morgan was 1‚945‚467‚000‚000; one trillion‚ nine
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Internal Controls XACC/280 Whenever having a company‚ he or she must have the right aspects so that business can run as smoothly as possible. The existence where not having the company together as supposed to‚ then there are problems that can follow. Internal control is the safeguard of the assets and the accuracy along with able to rely on he or she’s accounting records and the guide to success is making sure that he or she follows the control principles. The two sentences before this is the
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Financial Statement By Mary Baumann XACC/290 July 27‚ 2014 Jameson Monteiro Financial Statement The four main financial statement are the balance sheet‚ the income statement‚ the cash flow statements‚ and the statements of shareholder’s equity. Each statement can be used to give an insight to a company’s financial activities‚ and can provide valuable information on said company. The balance sheet provides detailed information on a company’s assets‚ liabilities‚ and their shareholder’s
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XACC/PRINCIPAL OF ACOUNTING 1 11/8/14 Shirley Ayala Prof: Watts Content and Development 7th Week 1. Analyze the element s in cost of goods sold calculation (COGS) Cost of goods sold sometimes referred to as cost of sales COGS refers to the cost of products that is man-made‚ sold‚ or purchased and resold by the business. The cost of making the product is an expense to the business and reduces the profit that the company can make when selling the products. The COGS is calculation
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Assignment The Systems Development Life Cycle Paper Jolynn Rose XACC/210 April 20‚ 2013 Jerry Eskew The Systems Development Life Cycle Paper By using different type of project management tools you can determined which tools and requirement that will be needed for the project. Project management has many tools available to help with managing projects. The
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1 Financial Reporting Problem Part 2 XACC/290 04/19/2014 Financial Reporting Problem Part 2 2 A. Are the assets included under the company’s current assets listed in the proper order? Explain your answer. Yes‚ the company’s assets are listed in the proper order. They list the order according to liquidity. The highest liquidity is at the top and the lowest liquidity is at
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Internal Controls XACC/280 April 7‚2013 Axia Internal Controls Internal controls are put into place to safeguard a company’s assets and to promote the accuracy of their accounting records. There are two primary goals of internal controls. The first goal of internal controls is to safeguard it’s assets from employee theft‚ robbery‚ or unauthorized use. When there is a large some of money there is temptation from employee’s to take some of it. Many employees believe they are underpaid
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NAME December 14‚ 2014 Week 6 Practice Problem 1 XACC/290 General Journal Date Account Titles Debit Credit July 01 Cash 12‚000 Common Stock 12‚000 1 Equipment 8‚000 Accounts Payable 6‚000 Cash 2‚000 3 Cleaning Supplies 900 Accounts Payable 900 5 Prepaid Insurance 1‚800 Cash 1‚800 12 Accounts Receivable 3‚700 Service Revenue 3‚700 18 Accounts Payable 1‚500 Cash 1‚500 20 Salaries Expense
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FINAL PROJECT 1 Final Project Assignment Shawn Ovington XACC/280 Sheila Sullivan FINAL PROJECT 2 Keeping good records is a key in any good business and it helps companies find key areas where they feel they can improve. Coke and Pepsi are two large named soda distributers that have
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actually do (Miller‚ 2015‚ pp. 291-292). In this case problem‚ Toney had no legal duty on staying in the company if he did not want to. The second element is to perform an action that we are not obligated to undertake (Miller‚ 2015‚ pp. 291-292). In this case‚ Toney had no obligation on continue doing the tasks of his job if he decided not to continue. And the third element is the refraining from an action that someone has the legal right to undertake (Miller‚ 2015‚ pp. 291-292). Toney had the right to
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