Assignment 2 — Session 3 (Spring) ------------------------------------------------- Top of Form Bottom of Form If this is your first time using the Online Learning Environment, check out the Course Orientation and the quick tutorials in the Support Centre. General assignment FAQs can be found in your Assignment Submission/Group Work area. Prepare your answers to these assignment questions in Word and save them as one Word document on your hard drive. For the recommended format and filename
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receivable) General Journal= used to record infrequent or non-routine transaction, such as loan payments Specialized Journal= records large numbers of repetitive transactions such as sales, cash receipts, and cash disbursement Sequence of events in accounting cycle 1. Collect Data 2. Journalize Transactions (capture in transaction files) 3. Post transactions to accounts in ledger (G/L master file) 4. Prepare unadjusted trial balance 5. Prepare and Post adjusting entries 6.
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Management accounting From Wikipedia, the free encyclopedia | This article contains wording that promotes the subject in a subjective manner without imparting real information.Please remove or replace such wording and instead of making proclamations about a subject's importance, use facts and attribution to demonstrate that importance. (February 2012) | Accounting | | * Historical cost accounting * Constant purchasing power accounting * Management accounting * Tax accounting | Major
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------------------------------------------------- In Management accounting or managerial accounting, managers use the provisions of accounting information in order to better inform themselves before they decide matters within their organizations, which allows them to better manage and perform control functions ------------------------------------------------- Definition[edit] IFAC Definition of enterprise financial management embracing three broad areas: cost accounting; performance evaluation and analysis; planning
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The purpose of converting the SUA system to Peachtree is to see the differences between the systems and to choose the better system for the company. We can convert the SUA system to a computerized accounting system, and we strongly recommend adapting Peachtree as our accounting system. In the following pages, we show flowcharts and tables for revenue and expenditure cycles to compare both manual and Peachtree systems. Advantages: - Peachtree is an easier process compared to a manual process
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Contrary to some belief, accounting is not a “walk-in-the-park” career. Accountants do not sit at a desk one-hundred percent of the time crunching numbers that always add up perfectly. In fact, accounting fraud is one of the largest scandals found today. When an accountant enters an engagement with a client, who are they liable to? Certainly not just to the client, but also anyone who could negatively be affected by a material misstatement, as well as the government. These responsibilities are
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reducing costs. Data about the costs of production, stored in the work in process file and used in cost accounting, can be integrated with production operations information regarding the physical aspects of the manufacturing operation to give real time information to enable companies to monitor quality and correct defects before they drive up costs. This is a basis for the ABC (Activity Based Accounting) systems. ABC
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Web WorldCom: The Accounting Scandal Bob Lyke Specialist in Social Legislation Domestic Social Policy Division Mark Jickling Specialist in Public Finance Government and Finance Division Summary On June 25, 2002, WorldCom, the Nation’s second largest long distance telecommunications company, announced that it had overstated earnings in 2001 and the first quarter of 2002 by more than $3.8 billion. The announcement stunned financial analysts and, coming on top of accounting problems at other corporations
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ASSIGNMENT BRIEF EDEXCEL BTEC L3 Extended a Diploma in Business Unit 8 ACCOUNTING SYSTEMS (Task A) P1 In this assignment I am going to identify and explain the various documents that a business needs to prepare and used in its day to day activities and transactions. In first place, the price quotation is a document that an organisation submits to one or more potential clients enquiring for the price of a product or service. Typically, the price quotation presents the list of prices
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The Case of Kay Lemon Detect/Prevent Fraud in Financial Statements Professor K. Day Angela Born March 1, 2015 Case of Kay Lemon Lemon concealed her larceny by using the technique of false debits. These debits were made to the inventory account overvaluing the assets on the books. She used a billing scheme to cover her theft by inflating the amount of payment made to the vendor on the books. Per the books, the vendor was paid a larger amount than the actual invoiced amount and she was
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