第一章 & 第二章 1)會計(Accounting) 會計是一套記錄個人、企業或組織的財務活動的資訊系統，包括收集分類、綜合、分析和解 釋成本資料，並提供財務預算、核數、年結、帳目及成本等分析報告，可協助個人、企業或 組織確認、記錄及了解其經濟狀況。 Accounting is an information system that identifies, records, and communicates the economic events of an organization to interested users. a. The first part of the process, identifying, involves identifying those events that are considered evidence of economic activity relevant to a particular business organization. b. Recording is the keeping of a chronological diary
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1 2 Relationship between Finance, Economics and Accounting • Economics provides a broad picture of the economic environment for decision making in many important areas. Accounting, the language of finance, provides financial data through: Income • statements sheets Balance Statement of cash flows • Finance links economic theory with the numbers of accounting Types of Accounting 1. Financial Accounting • Provides information primarily to people outside the
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interest on building construction, the recording of gains or losses on asset disposal, and the adjusting goodwill for impairment. By referencing the accounting principles and practices, I hope that you and your company will have better insight of my analysis of this project. In regards to adjusting lower cost or market inventory on valuation, Accounting Research Bulletin No. 43 outlines it meaning. Depending on the quality and framework of the inventory, the rule of cost or market, whichever is
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the beginning process of meeting the future goals of the company and it is the desire of our committee and the company that as the C.E.O. you will find the recommendations viable. Inventory Policy Inventory management practices are varied; the accounting management is similar when it comes to inventory items. In the retail business, the shelves hold inventory until the product is purchased by the consumer. “The inventory account of a firm holds the cost of a product until the cost is released to
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The stock markets got another king-sized jolt Tuesday as WorldCom revealed what could turn out to be one of the biggest accounting scandals in U.S. history. The telecommunications company said it had fired Chief Financial Officer Scott Sullivan, and accepted the resignation of senior vice president and controller David Myers, after an internal audit found improper accounting of more than $3.8 billion in expenses over five quarters. The misstated billions are also very bad news for ordinary
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1–2 Identify and describe the five environmental differences between govern- ments and for-profit business enterprises as identified in the Governmental Accounting Standards Board’s Why Governmental Accounting and Financial Reporting Is—and Should Be—Different. 1–3 Identify and briefly describe the three organizations that set standards for state and local governments, the federal government, and nongovernmental not- for-profit organizations. 1–4 What is the definition of a government
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accepted first and nonoperating income or expenses accounting principles (GAAP) can be difficult to and nonrecurring items in the second. Such a interpret. In fact, many sophisticated investors structure would provide investors with a tell us they have to reengineer official statements clearer summary of income and expenses. It to derive something they’re comfortable would also be consistent with two core principles using as the starting point for their valuation and
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Week 8 : Final Exam - Final Exam ------------------------------------------------- Top of Form Time Remaining: | | Page: 1 2 | Page 1 1. (TCO F) The price earnings ratio is affected by _____. (Points : 3) | net income preferred dividends market price per share All of the above | 2. (TCO G) Which of the following is not a factor needed to calculate the present value of a bond? (Points : 3) | The contractual interest rate The length of time until the amounts are
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You Are an Entrepreneur! Kristina Walters Dr. Chad Greenfield ACC557 – Financial Accounting 8/11/2013 1. EXECUTIVE SUMMARY 1.1 Product Sunshine Bakery is a new bakery specializing in gluten, wheat free products. Due to the rise in celiac disease there has been a significant increase in demand for these bakery products. For many years food allergies went undiagnosed and only recently doctors have started to diagnose food allergies such as gluten. Sunshine Bakery wants to help people
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Financial Expert” A 2008 KPMG report stated that the Securities and Exchanges Commission (SEC) rules define “audit committee financial expert” as a person who has each of the following attributes: * an understanding of generally accepted accounting principles (GAAP)
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