600 119 Department of Business Administration MANAGEMENT ACCOUNTING 1. What is book keeping? 2. What are the concepts of Accounting? 3. What is a Business Entity concept? 4. What is money measurement concept? 5. What is cost concept? 6. What is going concern concept? 7. What is dual aspect concept? 8. What is realisation concept? 9. What is accrual concept? 10. What are the various conventions regarding Financial statements? 11. What is a Ledger?
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FASB measurement conventions affect presentationsdifferent sectors: manufacturing, service, and retail sales. The team will analyze the companies based on the computations of the quick and current liquidity ratios, the DuPont ratio, profit margin, asset utilization, and financial leverage of each company. These values , which are computed using publicly available financial statements. We The team will also discuss differences in industries, IASB and FASB measurement conventions, and determinante
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According to the datas that I have gathered, there are many types of regulations such as Conventions , Tax law , Inflation Theory , External Environment and Culture , The Role of Government . Accountancy is a profession, as described above, and its members and its professional institutes have the obligations outlined. Members of the accountancy profession contribute to their communities in a wide variety of different roles, and within a range of different organizations.Every profession is
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MATERIALITY http://www.solutionmatrix.com/materiality-concept.html The materiality concept is the principle that trivial matters are to be disregarded in accounting, and all important matters are to be disclosed. Items that are large enough to matter are material items. The materiality concept is an established, recognized accounting convention The materiality concept addresses omissions and misstatements in accounting reports and in business case analysis In the US, the predominant approach to deciding
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statements is presented to give a background to the reader. In the introductory part, the fundamental accounting concepts used in the preparation of financial statements are included together with the explanation of their basis. Examples are also given as an illustration of its application. This consist the first part. On the other hand, the second part is about the evaluation of the role of financial accounting in aiding the decision-making processes of the four different non-management stakeholder groups
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THE USE OF ACCOUNTING INFORMATION AND DECISION-MAKING IN ORGANISATION (A CASE STUDY OF MUXOL PAINT DEPORT, BENIN CITY) BY DAVID UYIGUE UNAD/ACC5/2007/371 A PROJECT SUBMITTED TO THE DEPARTMENT OF ACCOUNTING, FACULTY OF MANAGEMENT SCIENCE, UNIVERSITY OF ADO-EKITI, NIGERIA. IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF BACHELOR OF SCIENCE (B.sc) DEGREE (HONS.) IN ACCOUNTING FEBRUARY, 2014 CERTIFICATION This is to certify
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Introduction to the Theory of Accounting and Control ••••••••••••••••••••••••••••••••••••••••••••• Three ideas are central to understanding accounting and control in organizations. First, all organizations are sets of contracts among individuals or groups of indi viduals. Second, provision of shared information among the contracting parties helps design and implement these contracts. Finally, control in organizations is a sustainable balance or equilibrium among the interests of its participants
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INTERNATIONAL STANDARD ON AUDITING 200 OBJECTIVE AND GENERAL PRINCIPLES GOVERNING AN AUDIT OF FINANCIAL STATEMENTS (Effective for audits of financial statements for periods beginning on or after June 15, 2006)∗ CONTENTS Paragraph Introduction .................................................................................................... 1 Objective of an Audit of Financial Statements .............................................. 2-3 Ethical Requirements Relating to an Audit of Financial
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Of Modern Accounting ...................................................................................... 2 1.2 19th Century – The Beginnings of Modern Accounting in Europe and America ............................... 3 1.3 20th Century – The Development of Modern Accounting Standards................................................. 4 1.4 21st Century – Accounting Regulation in Modern Commerce ........................................................... 4 2. DEVELOPMENT OF ACCOUNTING .......
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particularly focus on loyal and creative workforce which is an asset that is not included in the balance sheet. Balance sheet consist of assets (fixed and current), liabilities (short and long term) and owners equity. According to money measurement convention financial statement are prepared by ‘measuring items in monetary value’. Businesses consider loyal and creative employee as an asset because it meet all the criteria to be an assets e.g. providing future economic benefit, can be controlled. A loyal
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