correct picture on the firm’s financial performance and financial position. We have to recognize all transaction occurring in that accounting period‚ irrespective of whether cash has been received or paid. The ultimate objective of adjusting entries is to ensure that the revenues (income) earned in the accounting period are matched by all costs incurred for that same accounting period (Monash College‚ 2011). Prepayment There are two types of adjusting entries‚ prepayments and accruals. Prepayment is
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Objective 1. Determine the total considerations transferred. 2. The land and buildings should be recorded on the premise of “in-use” or “in-exchange”. 3. Determine the fair value recorded for the intangible assets. Applicable accounting pronouncement ASC 805-20-25 Business Combinations-Identifiable assets and liabilities and any non controlling interest-Recognition Recognition Conditions 25-2 To qualify for recognition as part of applying the acquisition method‚ the
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Accounting and Finance Management Assignment 2 Semester: 3 Prepared by: Osoba Seun Student Number: Sc-Kl-00021763 Email Address: josher4real@yahoo.com Date submitted: 17/01/2014 Question 1 Sales Budget September ($) October ($) Budgeted sales (units) 9‚500 Selling price per unit $12 Total sales 90‚000 114‚000 Schedule of expected cash collections: October ($) Account
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Triage and Emergency Department Experience Triage and the emergency department is not always as the movies picture it. However‚there are also other times that triage and the emergency department become a wild place for all kinds of people at varies degrees of danger. Many people cannot distinguish between a life-threatening situation and a situation that does not require emergency intervention while in an anxiety mode. Therefore‚ those people become angry and frustrated with the waiting and are
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Although generally Inter departments’ relationship in Ernst & Young is independent of the other departments’ activities due to different working scope‚ however at certain point‚ issues and matters which are not in their scope expertise would require some level of consultation to happen between different departments. For instance‚ in order to give a correct and effective advice to clients on taxation and computation‚ members of the Audit and Assurance departments will normally consult with the team
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Table of Contents Case 1 Introduction Jill’s business is expanding while the up going GST prevent her from gaining more profits. The idea of replacing the labor with the help of new equipment will bring about an unprofitable break-even point. However Jill still insist on borrowing from bank to invest in the equipment regardless of the CVP analysis result‚ which raised some ethical issues. Analysis Question 1 Defining the stakeholders There are 5 major stakeholders arising
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Merchandise inventory is generally valued at the price for which the goods can be sold. reported under the classification of Property‚ Plant‚ and Equipment on the balance sheet. reported as a current asset on the balance sheet. often reported as a miscellaneous expense on the income statement. Items waiting to be used in production are considered to be finished goods. merchandise inventory. raw materials. work in progress. In a manufacturing business‚ inventory that is ready for sale is called store
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Ralp C. Ramos BEEd-3rd year DEPARTMENTS OF THE PHILIPPINE GOVERNMENT The following are the different departments of the Philippine government‚ and the names of their secretaries. * Department of Agriculture - Sec. Proceso J. Alcala -Proceso Jaraza Alcala (born July 2‚ 1955)‚ popularly known as "Procy" in his home province. A member of the Liberal Party‚ is the current Philippine. He was a two-term congressman of the 2nd District of Quezon Province from 2004 to 2010. On June 29‚ 2010‚ President Benigno
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Police departments have tasks of organization that is divided according to purpose‚ area and time. Work Assignments are given to certain groups that are divided amongst the department and have a distinct purpose that is unique from the other groups. For example; a police detective performs certain duties that are distinct from that of a patrol officer and vice versa. Each division has their own purpose to achieve certain functions within the department‚ to maintain effective functions within the
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Emergency Department Triage Triage is an essential element of providing care to patients who present at a hospital emergency department. Triage is defined as a brief clinical assessment that determines the time and sequence in which patients should be seen in the emergency department. During triage‚ an emergency department nurse interviews a patient or the patient’s representative about the medical problem causing concern‚ makes a brief evaluation of the patient‚ and takes the patient’s vital signs
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