Financial information is needed for decision making purpose. * Book keeping and Accounting will provide such information. * Meaning of Financial Accounting * Process of identifying, measuring, classifying, recording, summarizing and interpretation of the transactions of a business in terms of money to ascertain the result and financial position of business activities of particular period. * Accounting is the art of recording, classifying and summarizing, in a significant manner and
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Accounting is not the same as it used to be. Advancements in information technology have transformed the accounting process and the ways in which accountants undertake their roles. Bookkeeping, calculations and data storage that were previously maintained on paper are now all processed on computers through the use of accounting information systems. It is a known fact that accounting is influenced by external factors such as the economy, laws and society and it must persist to remain current with
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ACC 321 Reflection Essay After I take ACC 221 and ACC 222, this semester I decide to take ACC 321. The name of the class is intermediate financial accounting. Before I took the class, I heard the class is the most difficult class among accounting class because of there is a lot of materials to cover in very short time. There are around 15 chapters to cover in a semester so that we have to learn a chapter in a week because we have to use some classes to take the exams and quizzes. And if I want to
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I الجامعة اإلسالمية -غزة كليــــــة التـــجــــــــارة قســــم المحــاسبـــــــــة Islamic University – Gaza Faculty of Commerce Department of Accounting A Graduation Research Proposal Presented to the Faculty of Commerce The Islamic University of Gaza Prepared By Mosa zuhair al-nassan Mosbah al-shaghnobi Mohammed Nabaheen 120091941 120092552 120102597 Supervisor's name Mr. Salah Shubir 3102 I I A Holy Qur'an Verse A Holy Qur'an Verse
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safeguard its assets from theft, robbery and any unauthorized use by any employee. The second is to “enhance the accuracy and reliability of its accounting records,” (Weygandt, Kimmel, Kieso 2008). This is achieved by decreasing the risk of error or unintentional mistakes and irregularities which are purposeful mistakes and falsifications in the accounting process. In 2002, one of the most important laws to be past in many years was the Sarbanes-Oxley Act. This law forces companies to keep a more
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Syllabus School of Business ACC/340 Version 4 Accounting Information Systems I ACC/340 Schedule 10/10/2013 – 11/07/2013 Campus: Puerto Rico Campus Group ID: BA0913RE 3 Credits 36 Hours Copyright © 2009, 2007, 2005, 2004, 2003, 2001 by University of Phoenix. All rights reserved. Course Description This course is designed to provide accounting students with the proper mix of technical information and real-world applications. Areas of study include fundamental concepts and technologies
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office staff people has their responsibility in particular work area. One of the employee is handles office payroll, tax reporting and profit distribution among the associates. Another one handles most of paperwork concerning insurance reporting and accounting. For the third employee, he is responsible in appointment book, and her duties include making reminder calls to patients and preparing daily appointment lists. Besides that, all six office workers are helping recording patient's information, insurance
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intangible asset which is research and development costs. After identify the scope that has been imposed, it was a limitation on condition-imposed. The results of trials on the developing a new drug would be a crucial element for audit work, the development costs will effect to future economic benefit if the necessary results not shown, the correct accounting treatment is impossible to be concluded. In the audit report, there is no explanation for the limitation of condition-imposed. If the auditor modifies
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to decide what to test and perhaps the areas for attention but is not persuasive. B. An audit may include computation of various balance sheet and operating ratios for comparison to prior years and industry averages. Discuss the validity and limitations of ratio analysis in an audit. Ratio analysis and analytical review is helpful to get the big picture and find areas that do not meet expectations and therefore are higher risk. The validity is fair, better then inquiry but it is indirect evidence
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II. responsibility accounting Preview of Chapter 10 Budgetary Control and Responsibility Accounting Budgetary Control Budget report Control activities Reporting System Static Budget Reports Examples Uses and limitation Flexible Budgets Why flexible budgets Development Case study Reports Responsibility Accounting Controllable vs noncontrollabe Performance Evaluation Reporting System Types of Responsibility Centers Cost Centers Profit Centers
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