...Checkpoint Accounting Assumptions Principles, And Constraints Diana Michalak XACC/280 Sara Carpenter August 5, 2011 The basic assumptions of accounting consist of four assumptions. Monetary Unit Assumption, which states that “only transaction data that can be expressed in terms of money be included in the accounting records(Ch 7.).” Economic Entity Assumption, which states that “the activities of the entity be kept separate and distinct from the activities of the owner and of all other economic entities. (Ch 7)” The Time Period Assumption which is an assumption that “the economic life of a business can be divided into artificial time periods (Ch 7).” The Going Concern Assumption which states that “the company will continue in operation long enough to carry out it’s existing objectives (Ch 7.).” The Principles of accounting consist of 4 principles. The first principal is The Revenue Recognitions Principle. This principle “dedicates that companies should recognize revenue in the accounting period which it is earned (Ch 7).” The second one is The Matching Principle which dedicates “that companies match expenses with revenues in the period in which efforts are made to generate revenues (Ch 7).” The third is the Full Discloser Principle which requires that companies disclose certain circumstances and events that make a difference to financial statement users (Ch 7).” The fourth one is the Cost Principle which “dedicates that companies record assets at their cost...
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...MGMT 280 Business Communica3ons Class 3 Tuesday, January 15, 13 1 But first.... A story about Love Communica3ons And Rela3onships Tuesday, January 15, 13 2 Tuesday, January 15, 13 3 A Review of the Basics 1/3 of the class did not follow direc7ons Tuesday, January 15, 13 4 (I am trying to help you get prepared for the real world) 1. All email goes to this email address only: barnesjw@seaEleu.edu 2. Meet the deadlines. One email message said, “Hey professor, sorry I was traveling.” 3. Save papers with your name, class name, and assignment name in the file name. Example: John Doe, MGMT 280, Nonverbal Assessment. Do not save your papers with file names such as: “paper” “first paper” “MGMT 280” “nonverbal paper” “280 paper” 4. All email messages must have an email signature. Tuesday, January...
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...Coca-Cola VS. PepsiCo When determining which company has the most to offer it is necessary to look at each set of numbers from several different views. For instance this paper will cover vertical and horizontal analysis, profitability, solvency, and liquidity ratios. I will be explaining how each set of results play into the decision making of which company would be best to invest in, by comparing both companies numbers in able to collect the necessary data to make a calculated decision. Coca-Cola and PepsiCo have been in competition since day one, each have a very profitable company. When running the number through and performing a horizontal analysis the numbers show Coca-Cola as being the company that is more financially sound. Not only are Coca-Cola’s current assets at $10,250.00 compared to PepsiCo’s $4,882 current assets, but their liabilities are lower and continued to decrease during the last year. Coca-Cola’s total liabilities in 2004 were $15,104.00, in 2005 their liabilities decreased by $4114.00, compared to PepsiCo’s, whose liabilities in 2004 were $14,464.00 and only continued to increase during the year by $3012.00 bringing their 2005 liabilities to $17,476.00.The rate at which Coca-Cola decreased from 2004 to 2005 was 27.2% compared to PepsiCo’s 20.8% decrease; the speed at which their liabilities decreased brought Coca-Cola to a more financially sound position. Horizontal analysis is a good tool to use when identifying changes in common statements in able...
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...Textbook Exercises Semana 5 – individual University of Phoenix Prof. Oscar Rosario-Figueroa 12 de enero de 2012 Textbook Exercises Para la realización de esta asignación se realizaran los trabajos de pregunta y ejercicios asignados en el del libro de la contabilidad financiera, de los siguientes ejercicios del capítulo 7, y 8. Pregunta 1 y 2, y el ejercicio E8-5, respectivamente. 1. (a) ¿Cuáles son los principios generalmente aceptados de contabilidad (GAAP)?. La profesión de contable ha desarrollado normas que son generalmente aceptadas y practicadas universalmente. Este conjunto común de estándares, llamados principios de contabilidad generalmente aceptados (GAAP), indica cómo se debe informar los sucesos económicos. La Comisión de Seguridad e intercambio (Securities and Exchange Commission (SEC), por sus siglas en ingles) es la Agencia del gobierno Estadounidense que supervisa los mercados financieros de Estados Unidos y órganos de fijación de normas de contabilidad. El principal órgano normativo de contabilidad en los Estados Unidos es la Junta financiera de estándares de contables (Financial Accounting Standards Board (FASB), por sus siglas en ingles). Muchos países fuera de los Estados Unidos han adoptado las normas de Contabilidad emitidas por la Junta Internacional de normas de contabilidad (International Accounting Standards Board (IASB), por sus siglas en ingles). En los últimos años el FASB y el IASB han colaborado estrechamente para intentar minimizar...
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...Financial Analysis My analysis on this paper was derived from this year’s numbers of both companies because I wasn’t able to get their averages because of data limitations. My paper contains information about the attempt I made in analyzing the biggest corporation in the beverage industry and these are PepsiCo, Inc. and The Coca-Cola Company. The type of analysis I did was vertical analysis which others may know of as a common-size analysis. Using this technique means that every item in the financial statement is expressed as one part of another base figure. The equations used in my analysis include the assets account and its base account which was Total Assets, liabilities and stockholder’s equity had its base as their stockholder’s equity and total liabilities, last, income statement had its base containing the accounts for their net revenues and sales. In this paper is my version of a horizontal analysis, it involves and evaluation of all the financial statements I have a hold of over the course of time. Behind this analysis is a purpose and it determines all the changes that took place in those figures over the years. Representation for these changes may come as different amounts or percentage changes. With the thorough examination I did on the financial reports, I gathered from these two beverage industry giants my analysis came out like this: In general, I saw improvements in all their figures over the years from the two different analysis techniques that I used on...
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...Ida Jean Orlando Ida Jean Orlando's Deliberative Nursing Process is set in motion by the behavior of the patient. According to the theory, all patient behavior can be a cry for help, both verbal and non-verbal, and it is up to the nurse to interpret the behavior and determine the needs of the patient. The Deliberative Nursing Process has five stages: assessment, diagnosis, planning, implementation, and evaluation. In the assessment stage, the nurse completes a holistic assessment of the patient's needs. The diagnosis stage uses the nurse's clinical judgment about health problems. The planning stage addresses each of the problems identified in the diagnosis. In the implementation stage, the nurse begins using the nursing care plan. In the evaluation stage, the nurse looks at the progress of the patient toward the goals set in the nursing care plan. This is the ADPIE that we use every day. Nursing care has to be flexible. Not only does a nursing care plan depend on the needs of the patient at the time of admittance, but it also needs to be able to change when and if any complications come up during the treatment and recovery process. Ida Jean Orlando's Deliberative Nursing Process directly addresses this need for flexibility, and helps nurses focus on the patient rather than simply sticking to a nursing care plan no matter what. Specialty areas Emergency Nurse- a. How to get there- ASN or BSN b. Pass NCLEX c. You need two years before you can take a licensure...
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...IT 280 COMPLETE CLASS To purchase this visit here: http://www.activitymode.com/product/it-280-complete-class/ Contact us at: SUPPORT@ACTIVITYMODE.COM IT 280 COMPLETE CLASS IT 280 Week 1 CheckPoint Computer Hardware Simulator and Computer Research IT 280 Week 2 CheckPoint Comparing Computers IT 280 Week 2 Assignment Motherboard Components Identification Paper IT 280 Week 3 CheckPoint Power Supply and Power Supply Installation IT 280 Week 4 CheckPoint CPU and Memory IT 280 Week 4 Assignment CPU and Memory Installation Paper IT 280 Week 5 CheckPoint Hard Drive and Hard Drive Installation IT 280 Week 6 CheckPoint I/O Devices IT 280 Week 6 Assignment Windows 7®Upgrade Technical Information Paper IT 280 Week 7 CheckPoint I/O and Multimedia Devices and Video Card Installation IT 280 Week 8 CheckPoint Mass Storage Devices IT 280 Week 8 Assignment External Mass Storage Letter IT 280 Week 1 DQ 1 IT 280 Week 1 DQ 2 IT 280 Week 3 DQ 1 IT 280 Week 3 DQ 2 IT 280 Week 5 DQ 1 IT 280 Week 5 DQ 2 IT 280 Week 7 DQ 1 IT 280 Week 7 DQ 2 IT 280 Week 9 Capstone IT 280 Week 9 Final Project Computer Maintenance and Training Manual Activity mode aims to provide quality study notes and tutorials to the students of IT 280 COMPLETE CLASS in order to ace their studies. IT 280 COMPLETE CLASS To purchase this visit here: http://www.activitymode.com/product/it-280-complete-class/ Contact us at: SUPPORT@ACTIVITYMODE.COM IT 280 COMPLETE CLASS IT 280 Week 1 CheckPoint...
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...Computer Maintenance and Training Manual Table of Contents Computer Safety3 Environmental Concerns3 Power Protection4 Dust, Static, and Heat issues 5 Downloading Unauthorized Software7 Maintenance and cleaning9 Tower9 Monitor/Display6 Keyboard6 Mouse6 Internal hardware installation9 Motherboard9 Power Supply6 Processor6 Memory6 Hard Drives6 Basic principles for supporting I/O devices9 I/O Device 19 I/O Device 26 I/O Device 36 Multimedia and Mass Storage Devices9 Installing a Video Card9 Installing a DVD Drive6 Computer Safety Environmental Concerns: Electronic equipment and gadgets are on the rise and are also one of the fastest growing waste around the world. It is estimated that American’s dispose of 12 million to 14 million computers each year. Most electronics become obsolete within a time span of 1 to 3 years. Electronic waste contains very dangerous materials such as mercury, lead, cadmium, and arsenic, just to name a few. The toxins in electronic waste” can cause cancer, reproductive disorders, endocrine disruption, and many other health problems if this waste stream is not properly managed.” (The E-Waste Crisis Introduction, 2010). Today, we are all becoming more aware of our carbon footprints and are trying to reduce them. It is important that we follow all the proper procedure when disposing of electronic waste. One of the most popular methods is recycling all computer parts. Most computer hardware can be reused in some way...
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...Computer Maintenance and Training Manual Table of content Chapter 1 Safety Environmental concerns Power Protection Dust, static, and heat issues Downloading unauthorized software Chapter 2 Maintenance and Cleaning Tower Monitor Keyboard Mouse Chapter 3 Internal hardware installation Motherboard Power Supply Processor Memory Hard Drives Chapter 4 Basic Principles for supporting I/O Devices and Multimedia and Mass Storage Devices Installing a Video Card Installing a DVD Drive Chapter 1 Safety * Environmental Concerns There are many methods that can be used to dispose of obsolete computer equipment. These include employee giveaways, donations to charity, and in some cases, an execution of the old mainframe. Most all old computers are considered toxic waste and must be disposed of properly. When it comes to household computer monitors they are usually not considered hazardous waste and are not included under federal regulations, however if you wish to disposed of one, you may want to make sure that the hard drive has been cleaned. Now for the heart of this issue. Since old computers are considered toxic waste, the main way that most businesses handle obsolete computers is to let a recycling company handle the dirty work. These companies are regulated by the Federal Environmental Protection Agency, but you have to use caution to make sure that the company that you choose to use is regulated. So it pays to do your research, and it is well worth...
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...ACC 280 Final Exam To Buy this Tutorial Copy & paste below link in your Browser http://www.homeworkmarket.com/content/acc-280-final-exam-4313877-2 This document of ACC 280 Final Exam includes: PART I 1) The accounting process is correctly sequenced as A. identification, communication, recording B. recording, communication, identification C. identification, recording, communication D. communication, recording, identification 2) Bookkeeping differs from accounting in that bookkeeping primarily involves which part of the accounting process? A. Identification B. Communication C. Recording D. Analysis 3) Generally accepted accounting principles are A. income tax regulations of the Internal Revenue Service B. standards that indicate how to report economic events C. theories that are based on physical laws of the universe D. principles that have been proven correct by academic researchers 4) The private sector organization involved in developing accounting principles is the A. Feasible Accounting Standards Body B. Financial Accounting Studies Board C. Financial Accounting Standards Board D. Financial Auditors' Standards Body 5) GAAP stands for A. Generally Accepted Auditing Procedures B. Generally Accepted Accounting Principles C. Generally Accepted Auditing Principles D. Generally Accepted Accounting Procedures 6) The four primary financial statements are A. the general...
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...Acc 280 Semana 3 Ejercicios Capítulo 3 / Preguntas # 2. Estado de dos principios contables generalmente aceptados que se relacionan con el ajuste de las cuentas. Principios de congruencia es que los gastos podrían ser coordinadas con los ingresos. Ingresos de los Estados principio de reconocimiento mutuo de que un contador debe reconocer los ingresos, ya que es el principio que se ocupa de lo que se ha ganado en el período contable. # 3. Rick Marsh, un abogado, acepta un compromiso legal en marzo, realiza el trabajo en abril, y se paga en mayo. Si la empresa Marsh ley prepara estados financieros mensuales, cuando debería reconocer los ingresos de este compromiso? ¿Por qué? Rick debería reconocer los ingresos en abril, porque este es el mes en que los ingresos que se obtuvo. Siendo la razón es que los estados preguntas qué mes los ingresos obtenidos, que es abril. # 4. ¿Por qué criterio de lo devengado, los estados financieros suministran información más útil que las declaraciones de caja? Base de lo devengado, los estados financieros es más útil que una declaración de valores de caja porque cuando se utiliza la base devengado, puede revelar la información necesaria para el futuro los ingresos que se han ganado, y puede ser ganado. # 8. Distinguir entre las dos categorías de asientos de ajuste, e identificar los tipos de ajustes aplicables a cada categoría. Las dos categorías de asientos de ajuste son la acumulación y aplazamientos. Ofertas de devengo de los ingresos...
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...Accounting Assumptions, Principles, and Constraints Hcemac XACC/280 · There are three major guidelines that are used in the conceptual framework of accounting also known as assumptions, principles, and constraints. Assumptions provide a foundation for the accounting process (Weygandt, Kimmel & Kieso, 2008, p. 297).These include monetary unit assumption which states that only monetary data can be reported, economic entity assumption which states that entities such as the owner’s personal finances and the business must be reported separately and the same rule applies to more than one enterprise, the time period assumption states that a businesses economic life can be divided into time periods such as monthly, quarterly, or annually, and going concern assumption works on the basis that a company will operate long enough to complete its given objectives (Weygandt, Kimmel & Kieso, 2008) . The basic principles of accounting include revenue recognition which states that organizations should recognize revenue with-in the time period that it is earned. The matching principle state that expenses should be match to revenue in the time frame in which effort were made to generate the revenue. The full disclosure principle requires organizations to disclose pertinent information from financial statements to users (including investors) and the cost principle states the organizations must record assts at...
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...Accounting Assumptions, Principles & Constraints Greg Young XACC/280 03/10/2013 Salena Ford Accounting assumptions provide a foundation for the accounting process. There are three major assumptions; the monetary unit, economic entity, and time period assumptions. The fourth assumption is the going concern assumption. The Monetary Unit Assumption makes it mandatory that only transaction data that can be expressed in terms of money be included in the accounting records. The reason for this is so that a company does not put a dollar value on something that cannot be expressed easily, such as the president of a company. The Economic Entity Assumption states that the activities of an entity be kept separate and distinct from the activities of the owner and of all other economic entities. An example of this would be the assumption that the activities of Budweiser are different from other breweries such as Coors or Guinness. The Time Period Assumption states that the economic life of a business can be divided into artificial time periods. This assumption is stating that companies are able to divide their activities in months or quarters for financial reporting purposes. The Going Concern Assumption assumes that a company will continue to operate long enough to complete their existing objectives. Accounting principles area basically a guideline on how to properly record and report economic events. The revenue recognition principle dictates that companies should...
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...Accounting Enjoli Hill 280 8/16/11 James Wood Accounting The purpose of this paper is to define accounting, and identify the four basic financial statements. The paper also explains how the different financial statements are interrelated to each other and why they are useful to managers, investors, creditors, and employees. What is accounting and why is it so important? Accounting is the financial information system that provides need to know information about your company. “Essential characteristics of accounting are identification, measurement, and communication of financial information about economic entities to interested parties” (Weygandt, p. 4, Para. 1). When you are in a business you have to identify events relevant to your company’s finances. Once you identify the facts you have to record these events. When recording you is providing a history of financial activities in a chronological diary to help you better understand your company’s revenues and expenses. After you summarize all collected information, you communicate to interested users by meaning of accounting reports. Accounting reports are referred to financial statements. Financial statements provide the overview of the financial condition of the business. Companies prepare four financial statements from the summarized accounting data. To understand the true financial state of a business one must understand the purpose of the four financial statements and what kind of information each...
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...Dugger Camp UMUC GVPT 280 – Quiz#1 – Dr. Becker 1/26/2014 Answer each of the above questions fully and completely as possible. In terms of length, no less then 3 substantial paragraphs per question. Make sure use and cite all relevant readings from the course texts, and cite them appropriately. In addition, proofread and spell and grammar check your work (two different things). Each answer should significant and long enough to answer each question. Your quiz is due back NLT next Monday, March 24, at 11:55 p.m. Let me know if you have any questions. Good luck. Question #1 -- Based on your readings up and including this week, how would you explain McCormick’s notion of the “the story of the states? “ Do you agree or disagree? Why? McCormick's Notion of the "Story of the states" is best explained as the movement of citizens realizing and wanting more control and protection from the state they reside in. This is derived from multiple influence, consisting of persecution from current government, advancement of technology, and economic change leading to various political views and enlightenments. These influences are what derive the formation of states and how the people of these states want to be governed and what will and will not be tolerated. In short the "story of states" tell how the world went from empires world as we know and the process of how all modern forms of government came to be. This is proven by McCormick transition from feudalism to the enlightenment...
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