FASB measurement conventions affect presentationsdifferent sectors: manufacturing, service, and retail sales. The team will analyze the companies based on the computations of the quick and current liquidity ratios, the DuPont ratio, profit margin, asset utilization, and financial leverage of each company. These values , which are computed using publicly available financial statements. We The team will also discuss differences in industries, IASB and FASB measurement conventions, and determinante
Words: 2286 - Pages: 10
CSLO One: Apply the concepts, analytical techniques, and conventions of basic accounting in both the academic and practice environments. 1a. Describe THOUGHTFULLY why it is important to understand the application of concepts, analytical techniques, and conventions of basic accounting in both the academic and practice environments. (At least one paragraph.) Analytical techniques, and conventions of basic accounting In the accountants, no matter whether in public places exercise or perhaps
Words: 3262 - Pages: 14
particularly focus on loyal and creative workforce which is an asset that is not included in the balance sheet. Balance sheet consist of assets (fixed and current), liabilities (short and long term) and owners equity. According to money measurement convention financial statement are prepared by ‘measuring items in monetary value’. Businesses consider loyal and creative employee as an asset because it meet all the criteria to be an assets e.g. providing future economic benefit, can be controlled. A loyal
Words: 1026 - Pages: 5
Reporting and Regulation 2011/12 Module Handbook Module Leader: John Smith SECTION A: basic information ❑ Introduction Welcome to LUBS 5016 Financial Reporting and Regulation. This course is compulsory for MSc Accounting and Finance students. It is taught in the second semester, is worth 15 credits if successfully completed and comprises 10 lectures supported by a series of workshops or tutorials. The course
Words: 2745 - Pages: 11
1. Introduction - The role of Human Resource During the early 20th century, the primary role of human resource is a care taker. Primarily they are involve in record keeping of the employee personal information, the most administrative job scoop. Hence during that period of time most human resource personnel is not required to go through formal training. Moving forward to 21st century, the primary role of human resource has been shift from a care taker to strategic planner which is vital for all
Words: 905 - Pages: 4
Chapter – 1 Introduction to Accounting Origin and history of Accounting can be traced back to some 10,000 years ago. The population in the area known as Mesopotamia, later Persia, and today the countries of Iran and Iraq had an active trading between towns and cities up and down the two rivers started the accounting concepts. At that time there were no letters or numbers. The merchants had to ship their merchandise up and down the rivers. They have to trust the boat man with their goods
Words: 18820 - Pages: 76
SCHEME FOR POST GRADUATE DIPLOMA IN COMPUTER APPLICATIONS (PGDCA) (Effective From July 2011 Session) SEMESTER -I Subject Code Subject Name Scheme L 1PGDCA1 1PGDCA2 1PGDCA3 1PGDCA4(A) 1PGDCA4(B) Fundamentals of Computers & Information Technology Introduction to Operating Systems (Dos, Windows, Linux) PC Packages Elective - 1 Foxpro MS-Access 4 4 1 3 T P Theory Paper 80 80 Internal Evaluation 20 20 Practical Exams Total Marks 100 100 4 4 1 3 3 80 80 20 20 25 25 125 125 Semester
Words: 4021 - Pages: 17
INTERNATIONAL STANDARD ON AUDITING 200 OBJECTIVE AND GENERAL PRINCIPLES GOVERNING AN AUDIT OF FINANCIAL STATEMENTS (Effective for audits of financial statements for periods beginning on or after June 15, 2006)∗ CONTENTS Paragraph Introduction .................................................................................................... 1 Objective of an Audit of Financial Statements .............................................. 2-3 Ethical Requirements Relating to an Audit of Financial
Words: 6127 - Pages: 25
Executive Summary Accounting concepts are the rules and guidelines used in accountancy and one of these is the historical cost accounting. This concept is an accounting technique that values an asset on the balance sheet at the price paid for the asset at the time of its acquisition. Moreover, the historical cost accounting is the situation in which accountants record revenue, expenditure and asset acquisition and disposal at historical cost. This means the actual amounts of money, or money’s
Words: 1312 - Pages: 6
UNIT 1 ACCOUNTING AND ITS FUNCTIONS Objectives After studying this unit, you should be able to appreciate the: • • • nature and role of accounting; activities of an accountant; and roles of accounting personnel and the accounting function in an organization. Accounting and its Functions Structure 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 Introduction Scope of Accounting Emerging Role of Accounting Accounting as an Information System Role and Activities of an Accountant Accounting Personnel
Words: 23289 - Pages: 94
