LECTURE ILLUSTRATIONS & ADDITIONAL ILLUSTRATIONS ONLY AVAILABLE ON CAPTIVATE Index of contents Page Budgets -Elvstrom Company (captivate only)..….………………………………….2 Budgets – Manx Pty. Ltd (captivate available)…………………………………..….4 CVP – Tarrant Ltd (captivate available)….………………………………..…..…...6 Make/Buy – Hobart Technology……………………….………..……..……………..7 Costing – Cravings for Cake (captivate available)..………………………….……..8 Recording–Henrys Hardware (captivate available).…….……………….….……10 Recording
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Accounting Principles Related to Nursing Olasumbo Dada University of Phoenix Abstract The continuing rise in technological advancement in the health care industry has led to a rising cost in the industry. Hospitals and other healthcare sectors face a major challenge in managing the massive change in respect to cost and still being able to provide excellent care for their patients considering the expansion that the industry is continuously facing. As a result, the financial accounting aspect
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objectives of accounting is to keep track of transactions and recording revenue and expenses are important business processes often assigned to an accounting department or a financial manager. Accounting is a business discipline that allows companies to record analyze and retrieve critical financial information that can be used to determine a company's financial status and provide reports and insights needed to make sound financial decisions. There are four basic terms in accounting they are assets
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Basic assumptions of accounting Going concern assumption proposes that the financial statements are normally prepared on the assumption that an entity will continue its operations in the foreseeable future. If this is not applicable the financial statements needs to be revised and assets and liabilities should be measured at their current net realizable value. Additional disclosures about the basis of preparation must be made in the financial statements. Accounting entity or business entity assumption
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E2-9 (Accounting Principles—Comprehensive) Presented below are a number of business transactions that occurred during the current year for Gonzales, Inc. Instructions In each of the situations, discuss the appropriateness of the journal entries in terms of generally accepted accounting principles. (a) The president of Gonzales, Inc. used his expense account to purchase a new Suburban solely for personal use. The following journal entry was made. Miscellaneous Expense 29,000 Cash 29,000 (b) Merchandise
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Generally Accepted Accounting Principles Tonya Krell Phoenix Generally Accepted Accounting Principles Accounting standards that record and report financial information in a consistent manner is known as Generally Accepted Accounting Principles (GAAP). There are four primary financial statements in which GAAP is used to guide the rules and requirements. The financial statements include a balance sheet, statement of operations, statement of cash flow, and statement of changes in net assets (Cleverley
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Financial Accounting Systems Tracy Pankey HCS/571 August 20, 2012 Professor Debra Vaughn Financial Accounting Systems The profession of nursing has enveloped itself into the development of gaining the skill and knowledge of health care financial systems within the health care arena. With government regulations and measures needed to improve the health care reform, it is expected that all members of the health care organization become actively involved in terms of the aspect of financial
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Generally Accepted Accounting Principles INTRODUCTION Generally accepted accounting principles (GAAP) are procedures, standards and accounting principles that an organization uses to complete financial statements. It is important for nurses seeking roles in the position management to understand the financial concepts and include themselves in the process of creating the organizational budget. This paper will describe the GAAP as related to healthcare and the intention of each principal. Within
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Generally Accepted Accounting Principles Carrie Scrivner HCS/571 March 10, 2014 Dr. Patricia Jenkins Generally accepted accounting principles, also known as GAAPs, are a set of rules and regulations that organizations use to prepare and maintain their financial statements. These principles are guidelines that all publicly held companies must use. They protect investors from financial misuse. GAAP in health care aids the organization show its financial strength and establish its ability
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Generally Accepted Accounting Principles Introduction Need of Accounting Principles Generally Accepted Accounting Principles Characteristics of Accounting Principles Objectivity Application Reliability Feasibility Understandability Accounting Concepts Separate Entity Concept Money Measurement Concept Dual Aspect Concept Going Concern Concept Cost Concept Period Accounting Period Concept Periodic Matching of Costs and Revenues Concept Realisation Concept Accounting Conventions Conservatism
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