PGDM I Semester I MANAGEMENT ACCOUNTING -1 (MA-1) 1. Course Objective: The objective of the course is to acquaint the students with the language of Accounting and to develop in them the ability to evaluate and use accounting data as an aid to decision making. The main purpose is to assist the students in developing skills in problem solving and decision making in the financial area. Emphasis is laid on analysis and utilization of financial and accounting data for planning and control. 2.
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Unit 1 Introduction to Financial Accounting Learning Outcome After reading this unit, you will be able to: • Explain succinctly financial accounting concepts • Elucidate on different principles of financial accounting • Explicate the importance and scope of financial accounting • Understand Generally Accepted Accounting Principles(GAAP) • Identify limitations of Financial Accounting Time Required to Complete the unit 1. 2. 1st Reading: It will need 3 Hrs for reading a unit 2nd Reading
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1. Introduction - The role of Human Resource During the early 20th century, the primary role of human resource is a care taker. Primarily they are involve in record keeping of the employee personal information, the most administrative job scoop. Hence during that period of time most human resource personnel is not required to go through formal training. Moving forward to 21st century, the primary role of human resource has been shift from a care taker to strategic planner which is vital for all
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Accounting Concepts MODULE - 1 Basic Accounting 2 ACCOUNTING CONCEPTS In the previous lesson, you have studied the meaning and nature of business transactions and objectives of financial accounting. In order to maintain uniformity and consistency in preparing and maintaining books of accounts, certain rules or principles have been evolved. These rules/principles are classified as concepts and conventions. These are foundations of preparing and maintaining accounting records. In this lesson
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dispute now surrounds the question of measurement method in financial reporting to as whether a traditional basis of measurement, which is the historical cost should be use or a new basis which is the fair value should be considered. Historical cost accounting records the value of an asset on the balance sheet as the price at which it was originally purchased, which is the date of acquisition. Therefore, it is based on its nominal or original cost. In an era market by the widespread use of complicated
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Accounting Concepts MODULE - 1 Basic Accounting 2 ACCOUNTING CONCEPTS In the previous lesson, you have studied the meaning and nature of business transactions and objectives of financial accounting. In order to maintain uniformity and consistency in preparing and maintaining books of accounts, certain rules or principles have been evolved. These rules/principles are classified as concepts and conventions. These are foundations of preparing and maintaining accounting records. In this lesson
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financial position it is in and for directors or people who run the business to make important financial decisions to ensure the survival of a business. The function of accounting allows a company to keep records of all its financial history and allows the organisation make decisions based on the information. A well known definition of accounting is ‘The process of indentifying, measuring, and communicating economics information to permit informed judgements and decisions by users of the information’ (Wood
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description of which concept? | duality | | separate valuation | | business entity | | objectivity | 0 out of 1 Your answer is incorrect. The correct answer is business entity Question 6 of 20 A firm's trial balance.... | shows its financial position. | | establishes whether its accounting records are correct. | | lists all of the entries in its double-entry accounting records. | | is a list of all the balances brought down in its double-entry accounting records. |
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Relevance Concept: Information should be relevant to the decision making needs of the user. Information is relevant if it helps users of the financial statements in predicting future trends of the business (Predictive Value) or confirming or correcting any past predictions they have made (Confirmatory Value). Same piece of information which assists users in confirming their past predictions may also be helpful in forming future forecasts. Reliability Concept: Information is reliable if
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Library. Students can also check with their departments or lecturers for on-campus Harvard referencing support. Acknowledgement A significant component of the Master of Accounting (MAcc) program is the Language for Professional Communication in Accounting Program (LPCA). The LPCA program is a collaboration of the Master of Accounting program and The Centre for Macquarie English (CME), formerly the National Centre for English Language Teaching and Research (NCELTR). The LPCA program provides tailored
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