1 2 Because… 3 4 5 6 ! " # 7 Chapter 15 The Nature of Management Accounting 8 Learning Agenda Describe the differences between financial and management accounting Measurement used in management accounting system Textbook problem exercises 9 Differences Between Financial and Managerial Accounting Financial Accounting 1. Users 2. Time focus 3. Verifiability versus relevance 4. Precision versus timeliness 5. Subject 6. Requirements External persons
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course 1) Introduction – chapter 13 2) Interest rate parity (how exchange rate is determined by the flows of capital) and exchange rate overshooting – chapters 14 & 15 3) Purchasing power parity and the exchange rate in the long run (how exchange rate is determined by the flows of goods and the determinants of exchange rate in the long run) – chapter 16 4) The DD-AA model (the model that explains how exchange rate and output are determined in general equilibrium setting) – chapters 17 &18 Flexible exchange
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09, 2008 Chapter (1) E1-3, E1-13, P1-3A E1-3 The Mill Run Golf & Country Club details the following accounts in its financial statements. a) (b) Accounts payable and accrued liabilities L O Accounts receivable A O Property, plant, and equipment A I Food and beverage operations revenue R O Golf course operations revenue
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Checkpoint 1: Accounting assumptions, principles, constraints Accounting Assumptions, Principles, and constraints The basic Assumptions of accounting are: monetary unit assumption, time period assumption, economic entity assumption, and going concern assumption. Monetary unit assumption is when records only show data that can be expressed in terms of money. Health of owners, the quality of service, and morale of employees are not included because companies cannot qualify this information in
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Chapter 1—AIS overview (3 Questions = 4.5 points) Purpose of/value provided by AIS 1. Improving the quality and reducing the costs of products or service 2. Improve efficiency and effectiveness of the value chain and supply chain 3. Share knowledge 4. Improve the internal control structure 5. Improve decision making Key Role if the AIS 1. Collecting and storing data 2. Providing information for decisions 3. Safeguarding assets Value Chain Activities
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Business" and why the accounting information system is important in business. This week, we are going to look at the mechanics of how it all works. It might be a bit easier if we started with an example which would be the Genie Car Wash, Inc. in Chapter 2 of your textbook. Pick a transaction from Genie and let us know how it impacts the accounting equation. Make sure to identify the two accounts impacted. Why is it important to record your selected transaction? Discussion 2 In this graded
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9:39 AM Page 46 chapter 2 A FURTHER LOOK AT FINANCIAL STATEMENTS ● the navigator ● ● ● ● ✓ Scan Study Objectives Read Feature Story Scan Preview Read Text and Answer Do it! p. 52 p. 53 p. 62 p. 68 Work Using the Decision Toolkit Review Summary of Study Objectives Work Comprehensive Do it! p. 72 Answer Self-Test Questions Complete Assignments Go to WileyPLUS for practice and tutorials Read A Look at IFRS p. 96 study objectives After studying this chapter, you should be able
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CHAPTER 5 Revenue Recognition after Delivery * Assumes we are able to make reasonable estimates of amounts due from customers that potentially might be uncollectible. * For product sales this also includes amounts not collectible due to customers returning the products they purchased. Installment Sales * Increasing the length of time allowed for payment usually increases the uncertainty about whether the store actually will collect a receivable * The increased uncertainty concerning
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ACC 557 Week 1 Homework Problems – Strayer NEW Click On The Link Below to Purchase A+ Graded Material Instant Download http://budapp.net/ACC-557-Week-1-Homework-Problems-Strayer-NEW-ACC557W1HP.htm Chapter 1 Exercise 1-4 Your answer is correct. The following situations involve accounting principles and assumptions. For each of the three situations, state if the accounting method used is correct or incorrect. If correct, identify which principle or assumption
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