...This report deals with business to business transaction models and various types systems that businesses implement to achieve efficiencies. It details how the increases in technology has made certain possibilities of business to business interactions that were impossible before, whether it was due to the lack of efficiency or lack of tools needed for such interactions to be possible. The internet has ushered in a whole new world of possibilities in business to business interactions. It is one of the major reasons why the expansion of business activities into the digital cyberspace have been an absolute necessity for an organization to be competitive in its market. What business to business transactions mean in the digital age is the interaction of commerce between two businesses electronically either through the internet, intranet, extranet or some other private network, which can also include VAN (value added network). The introduction and advancement of many web based technologies has given more companies the ability to have their influence felt in cyberspace. This includes communicating between other businesses and their customers and also made their transactions between the various parties much more efficient and simpler. It has gone as far as some business models incorporating business to business transactions in to their supply chain theories. This makes sense because the business to business transaction systems are quickly becoming a normality in the business market and...
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...Financial Accounting For Dummies From Financial Accounting For Dummies by Maire Loughran Financial accounting is the process of preparing financial statements for a business. The three key financial statements are the income statement, balance sheet, and statement of cash flows, and they serve two broad purposes: to report on the current financial position of the company, and to show how well the company performs over a period of time. Investors, creditors, and other interested parties rely on such information to find out whether a business is making or losing money, and they depend on financial accountants to help ensure that these statements are materially correct and understandable. Accounting Details in Different Kinds of Financial Statements The three key financial statements are the income statement, balance sheet, and statement of cash flows. All three record the same daily accounting transactions occurring in a business, but each presents the facts slightly differently. • Income statement: The income statement shows a company’s results of operations. Using this statement, you can see if a business has income or loss during the financial period. All the company’s revenue, expenses, gains, and losses appear on this financial statement. • Balance sheet: The balance sheet shows the health of a business from the day it started operations to the specific date of the balance sheet report.Therefore, it reflects the business’s financial position. The balance sheets lists...
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...|[pic] |Syllabus | | |School of Business | | |ACC/290 Version 3 | | |Principles of Accounting I | Copyright © 2011 by University of Phoenix. All rights reserved. Course Description This course covers the fundamentals of financial accounting as well as the identification, measurement, and reporting of the financial effects of economic events on an enterprise. Students will learn to examine financial information from the perspective of management. Other topics include decision making, planning, and controlling from the perspective of a practicing manager. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning...
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...|[pic] |Class Syllabus | | |School of Business | | |ACC/290 Version 3 | | |Principles of Accounting I | Copyright © 2011 by University of Phoenix. All rights reserved. Course Description This course covers the fundamentals of financial accounting as well as the identification, measurement, and reporting of the financial effects of economic events on an enterprise. Students will learn to examine financial information from the perspective of management. Other topics include decision making, planning, and controlling from the perspective of a practicing manager. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning...
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...Principles The health care industry is a business but unlike most business; the primary goal of health care organizations is to provide medical care to patients. The secondary goal is to have the financial means to provide care by earning a profit. The financial statement of an organization measures how the business did in the past, present, and has the potential to predict the future status. All businesses need to keep track of revenue and cost, including a having a consistent method to share and present information to stakeholders and outside entities. Generally Accepted Accounting Principles (GAAP) is the standards, procedures, and rules organizations use to record and report financial information and ensures consistency in financial statements. The Financial Accounting Standards Board (FASB) establishes the standards and rules of GAAP (Finkler, Kovner, & Jones, 2007). A few of the most common GAAP are reviewed in this paper. Financial accounting yields four financial statements. “The statements are … balance sheet, statement of operations (or income statement of revenues and expenses, statements of cash flows,[and] statement of changes in new assets (or statements of changes in net assets)” (Cleverley, Song, & Cleverley, 2011,p.182) . GAAP is used to form the structure of these statements. The following are common GAAP that organizations follow. The first major GAAP is the entity principle. The financial report presented focuses solely on one organization...
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... GAAP |IFRS |Similarities | |Purpose of Framework |The FASB framework resides lower in hierarchy. |Management is explicitly required to |Both the frameworks are similar in | | |Management is not required to prioritize it if no|prioritize the IASB framework if there is |their purpose to assist in developing| | |standard is available. |no standard or interpretation available. |and assisting standards. | |Objectives of |It provides different objectives for business |It gives one objective for different |Both frameworks have a broad focus to| |financial statement |entities versus non business entities. |business entities. |provide relevant information to a | | | | |wide range of users. | |Underlying assumptions|Although it recognizes, but not given much |Give importance to accrual and going | | | |prominence is given to accrual and going concern |concern basis | | | |basis. In fact going concern assumption is not | ...
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...Topic 1: Overview of AIS & Business Processes Characteristics that make information useful: 1. Relevant: Reduces uncertainty, improves decision making, or confirms or corrects prior expectations 2. Reliable: Information free from bias 3. Completeness: Does not omit important aspects of events or activities 4. Timely: Information needs to be provided in time to make the decision 5. Understandable: Information must be presented in a meaningful manner 6. Verifiable: Two independent people can produce the same conclusion 7. Accessible: Available to users when when they need it Business processes (“All cycles are related”): 1. Revenue - Goods & services are sold for cash or a future promise to receive cash. Transactions in Revenue cycle: Handle customer inquiries | Update sales & A/R for sales | Take customer orders | Receive customer payments | Approve credit sales | Update A/R for collections | Check inventory availability | Handle sales returns, discounts & bad debts | Initiate back orders | Prepare management reports | Pick and pack orders | Send info to other cycles | Ship goods | | Bill customers | | 2. Expenditure - Companies purchase inventory for resale or raw materials to use in producing products in exchange for cash or a future promise to pay cash. Transactions in expenditure cycle: Requisition goods and services | Approve invoices for payment | Process purchase...
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...Project Report on PESHAWAR ELECTRIC SUPPLY COMPANY (PESCO) Submitted by: WAHAJ QADIR BBA Hon’s (FINANCE) Reg.No;2009-ICMS-224 Submitted to: Controller of Examinations University of Peshawar INSTITUTE OF COMPUTER & MANAGEMENT SCIENCES (ICMS) HAYATABAD PESHAWAR Session 2010-2013 Project Report on PESHAWAR ELECTRIC SUPPLY COMPANY (PESCO) A Project Report submitted to the Institute of Computer & Management Sciences (Affiliated with) University of Peshawar, in partial fulfillment of the requirements for the award of the degree of BACHELOR OF BUSINESS ADMINISTRATION (HONS) (FINANCE) Submitted By: WAHAJ QADIR BBA Hon’s (FINANCE) Reg.No;2009-ICMS-224 Submitted to: Controller of Examinations University of Peshawar INSTITUTE OF COMPUTER & MANAGEMENT SCIENCES (ICMS) HAYATABAD PESHAWAR Session 2010-2013 APPROVAL SHEET Project Report On PESHAWAR ELECTRIC SUPPLY COMPANY (PESCO) Submitted by: WAHAJ QADIR BBA HON’s (FINANCE) Reg.No.2009-ICMS- Of Institute of Computer and Management Sciences has been approved for submission to the controller of Examinations, University of Peshawar in partial fulfillment of the requirements for the degree of BACHELOR OF BUSINESS ADMINISTRATION (Hon’s) (Finance) __________________ ___________________ Mr.MUHAMMAD KHALIL Dr. Saad Ullah (Internal Supervisor)...
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...|[pic] |Syllabus | | |School of Business/Graduate | | |ACC/546 Version 2 | | |Auditing | Copyright © 2009, 2008, 2007 by University of Phoenix. All rights reserved. Course Description In this course, students focus on the auditing practice performed by public accountants. Topics include the CPA profession and the auditor’s role, planning the audit, audit reporting and required communications, evaluating internal controls, audit programs for current assets and liabilities, and audit programs for other business cycles. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies...
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...Business Models for Internet Based E-Commerce B Mahadevan Introduction The meteoric growth of Internet based E-commerce at the turn of the last century is truly baffling. During the last one decade, this market space has grown in several directions. In its first generation, it saw the emergence of portals and search engines. However, in due course more and more organisations began to cater to the Business to Customer (B2C) market. In the last two years, there is significant growth in the Business to Business (B2B) segment. As several organisations began to operate in the Internet market space, they innovated unique propositions to create value in the process. These were either not found or difficult to replicate in the traditional brick and mortar operation. This course will help the students understand these unique propositions in a unified framework. The framework is collectively referred to as "Business Models". An Internet based business has several dimensions: · · · · the technology aspect primarily comprising of telecommunication, networking and other infrastructure issues the software domain that includes programming languages, web page design, customer interface and transactions management, security and privacy management, and large scale data mining the management aspect that deals with the business strategies for value creation, growth and customer development and retention the statutory and legal dimension that addresses various cyber laws dealing with security...
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...Audit theory and true and fair view The Primary objective of auditing is to produce a report by the auditor of his opinion of the truth and fairness of financial statements so that any person reading and using them can have belief in them. Different methodology can be used to arrive at his opinion: Vouching audit: Vouching means "such examination of the ledger entries as will satisfy an auditor not only that the entry is supported by documentary evidence but that it has been properly made upon the books of account". b. The emphasis is on ascertaining- i) That every entry in the books of account is supported by a voucher and that no voucher has gone unrecorded in the books of account; ii) That the transaction is genuinely concerned with the business iii) That the amount involved in the transaction has been accurately recorded and iv) That the entry has been made correctly in the appropriate account C. The main objectives of vouching are: a. All transactions connected with the business have been properly recorded in the books of account b. The entries in the books of account pertain to transactions which are genuinely connected with the business c. The vouchers in support of the entries are legally valid, in the sense that they are authentic, properly dated, addressed to the business of the client, and are not fraudulent in any respect d. The vouchers have been carefully processed through each stage of an effective system of internal check e. The vouchers...
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...• • • • • • • • Post Graduate in Business Management; Doctorate in MIS Over 29 years of experience in teaching, research, consulting & executive training Published more than hundred research papers in national / international journals of repute Published 18 books including three well acclaimed text books one each on MIS from Macmillan; ERP from McGraw-Hill; and IT project Management from Macmillan Have supervised 13 Ph.D. research scholars Completed many sponsored research projects On the Board of Governors; Advisory Board; Academic Council; Board of Studies of many business Schools/Universities Member of editorial board and review panel of several referred journals OBJECTIVES OF THE COURSE The main objectives of the course are to provide the management student a broad understanding of: • • • • • Information Systems (such as Transaction Processing Systems, Management Information Systems, Decision Support systems, etc) from a Business Perspective Information Systems Planning Key IT Technologies, and the implications of these technologies for managers Identifying Information Requirements and Systems Analysis Issues & Challenges in managing ISs/IT such as Enterprise Resources Planning (ERP), Supply Chain Management (SCM), Customer Relationship Management (CRM), Business Intelligence (BI) etc. MAIN ISSUES The purpose of any Information System is to help an organisation manage its business better. For instance, an Inventory Management...
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...high school, completion of college/CEGEP/vocational or technical training • Experience: 3 years to less than 5 years • Languages: Speak English, read English, write English • Specific skills: Confer with clients to identify and document requirements, conduct business and technical studies, design, develop and implement information systems business solutions, provide advice on information systems strategy, policy, management and service delivery, develop and implement policies and procedures throughout the software development life cycle, conduct reviews to assess quality assurance practices • Computer and technology knowledge: Windows, Intranet, Internet, Multimedia software, Word processing software, Spreadsheet software, Presentation software, Office suites, Electronic mailing software • Work conditions and physical capabilities: Fast-paced environment, work under pressure, tight deadlines, repetitive tasks, attention to detail, combination of sitting, standing, walking • Essential skills: Reading text, document use, numeracy, writing, oral communication, working with others, problem solving, decision making, critical thinking, job task planning and organizing, computer use, continuous learning • Job title: Business systems analyst Skills and knowledge requirements: • Education: Completion of high school, completion of college/CEGEP/vocational or technical...
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...Assignment 2 AU2 Advanced External Auditing Question 2 a) Three specific business strategies that explain eBay’s decision to offer good for sale at fixed prices: 1. Expand into New Markets: With the shrinking market of auction bidders on eBay and a growing market of fixed price buyers, customers may not prefer to go in the direction of purchasing goods in an online auction. Since, in an online auction the customer has to wait till the end of the auction to see which buyer with the highest bid wins that item. Whereas, in a fixed price type of format, there are no bids placed and the price remains constant. Customers may prefer the idea of price stability over waiting to see if they get the item as they may be time-sensitive and want the item right way. Therefore, eBay may want to focus and expand its market to customers who do not prefer online auctions. 2. Fixed price “Buy-It-Now” format is beginning to dominate eBay and is a key to future growth. Fixed price items make up of 42% of the gross merchandise sold on eBay. Over the past six years, this fixed price format has been growing at a faster rate than auctions. (Trouble at eBay) 3. Meet consumer expectations in the marketplace by matching its competitors who also offer products at fixed prices online through their websites. Customers who are not interested in purchasing goods in online auctions will then purchase goods from eBay at fixed prices. Since eBay acts as the ‘middle man’ the concept...
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...220 My business partner and I are considering starting a small, brick and mortar, nostalgic record store. My business partner, however, has not had much experience with information systems or technology and needs a basic understanding of the different types of information systems available to businesses. For our business to be an effective business, we must use the necessary tools and technology. According to the reading, “ Computer based information systems is an information system that uses computer technology to perform some or all of its intended tasks. There are many different types of information systems, but the five basic information systems are: hardware, software, network, procedures, and people. The hardware is the equipment you purchase that makes up the physical part of the computer. Hardware may include the monitor, keyboard, mouse, speakers, external microphones, and etc. The software are the codes or programs that the hardware uses to process data. The network is the connectivity that provides a link of exchanges of data between different users. Procedures are instructions that navigate users to combine all the other information systems to produce an effective product. People are the users who use the software through the usage of hardware. Microsoft Word would be a great feature to use to start our nostalgic record store. Word assists in the daily production of activities in the workplace. Microsoft Word will allow my partner and I to draw up business propositions...
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