Executive Summary Non-Bank Financial Institutions (NBFIs) play a significant role in meeting the diverse financial need of various sectors of an economy and thus contribute to the economic development of the country as well as to the deepening of the country’s financial system. According to Goldsmith (1969), financial development in a country starts with the development of banking institutions. As the development process proceeds, NBFIs become prominent alongside the banking sector. The major
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A tutorial in managerial accounting concepts and financial modeling using Excel Assignment 1: Introduction We will begin our work this semester with a case called Caribbean Internet Café [hereafter, CIC]. In the CIC case, David Grant wants to open an Internet Café in Kingston, Jamaica. This simple business setting is familiar; how many coffee shops, drive-up or otherwise, can you think of that are within walking distance of campus? Even if you are not a coffee-holic, the operation of one of these
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organizations throughout the year. In addition, accounting includes provisions of a balance sheet replicating the monetary positions of a business at a specific time period. It should provide clear and precise figures about the proprietary and financial condition in a specific entity. Finance is a wider view and uses information, which is obtainable in the accounting area such as “profit and loss, balance sheet, and cash flow statement” (Parikh, 2011, p. 1) to decide upon financially linked judgments
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difference between this period and last period from Balance Sheet) - Increase in CURRENT Asset accounts other than cash (calculate the difference between this period and last period from Balance Sheet) + Increase in CURRENT Liabilities accounts (calculate the difference between this period and last period from Balance Sheet) - Decrease in CURRENT Liabilities accounts (calculate the difference between this period and last period from Balance Sheet)+ Loss on Disposal of PPE/Fixed Assets used in normal
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Profit and loss account The profit and loss account is a record of revenues and costs of the business over a period like a year. It shows how much profit the business has made over the past year and what has happened to the profit. The profit and loss account is a record of past costs and revenues. However, it can still help people in the business to make decisions about the future because the account says something about where the business has been in the recent past. On the whole though, other
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| 3 | Current liabilities: | are due within one year or one operating cycle, whichever is longer | must be of a known amount | must be of an estimated amount | are subtracted from long-term liabilities on the balance sheet | 4 | The treasury stock account is shown on the balance sheet as a(n) | contra asset | contra stockholders' equity account | contra liability | liability | 5 | After the receipt of the stock dividend, a corporation's cost basis per share in the stock of the invested will:
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adjusting journal entries 5. Prepare a trial balance 6. Prepare financial statements by transferring balances from the trial balance to appropriate financial statements 7. Close temporary accounts and transfer revenue and expense account balances to retained earnings account | Accounting cycle | Accounting cycle by key word 1. Analyze the transaction 2. Journal entries 3. Posting to accounting ledger 4. Adjusting journal entries 5. Trial balance 6. Financial statements 7. Close temporary
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* Background * A business is a continuous economic activity carried out to earn profit through: * Production and sales of goods and services to customers * Generating and rendering services * It may be- Manufacturing, Merchandising/Trading Companies, Services or Hybrid companies. * Business Organizations will be of different forms- Sole Proprietorship , Partnership Firm, Joint Stock Company and Others like cooperative, non-profit making etc. * Such organizations need to
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Introduction: Introduction: Doing this organizational analysis, I wanted to further my knowledge about the car industry. The first prospect that came to mind was General Motors. I picked General Motors because of its popularity in the United States. I had some interesting general knowledge of the company like the dependability and quality of their cars. Some comments were, “I rather have a Chevy Truck than a Ford” and “The general motors cars are more dependable than Ford.” These comments made
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CHAPTER 7 ALTERNATE PROBLEMS Problem 7.1A Bank Reconciliation The cash transactions and cash balances of Flagg, Inc., for August were as follows: 1. The ledger account for Cash showed a balance at August 31 of $9,200. 2. The August bank statement showed a closing balance of $7,480. 3. The cash received on August 31 amounted to $3,100. It was left at the bank in the night depository chute after banking hours on August 31 and therefore was not recorded by the bank on the August
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