You Are an Entrepreneur Abstract In this paper I am going to speak and focus on a business called My Health. My Health is a home healthcare agency ran by my business partners and I. Stephanie Robinson, who is a Registered Practitioner, Ashley Manns, who is a Medical Assistant and I, Ashlee Burns. I am a Registered Nurse with my Master’s Degree in Business Administration with a concentration in Healthcare Management. My Health will have all different types of staffing from an Office Manager
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Enirogroup is a well-known internet search company in the media industry, the company branches are located in Sweden, Norway, Denmark, Finland and Poland. The digital media (excluding directory assistance services) carry’s 80 percent of the company’s revenue in 2013. The company is into local search and Eniro’s notable brands, products and services design customer value for a broad number of customer’s each day. Nordic region has the biggest sales force from market and sell advertisements to thousands
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questions) • Debits/Credit Rules and normal balances • Financial statements: Income Statement, Statement of Retained Earnings and Classified Balance Sheet - know how each is composed and how they are affected by journal entries • Application of Revenue Recognition, Matching Principle, Cost Principle Chapter 5 • Perpetual Inventory Systems • Recording all transactions involving Inventory under perpetual inventory system • Recording collection of Accounts Receivable, with or without a discount •
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how to properly record and report economic events. The revenue recognition principle dictates that companies should recognize revenue in the accounting period in which it is earned. In other words, do not record revenues in a timeframe that were not collected until another time frame. The Matching Principle (Expense Recognition) dictates that companies match expenses with revenues in the period in which efforts are made to generate revenues. The Full Disclosure Principle requires that companies
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WA 1-8 Explain who the stakeholders are that would be interested in the financial reporting of the company and what information would be most relevant to these stakeholders. Stakeholders: - Investors o Investors would be interested in their financial reporting because they would need to see if the company is making profits, their current situation, losses that they could have incurred and why this has happened, current and future projects, and etc. This information is important to the investors
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report, prepared by the consignee for the consignor, that shows the merchandise received, merchandise sold, expenses chargeable to the consignment, and the cash remitted. Account, 68 A systematic arrangement that shows the effect of transactions and other events on a specific element (asset, liability, and so on). Companies keep a separate account for each asset, liability, revenue, and expense, and for capital (stockholders' equity). accounting cycle, 73 Standard set of accounting procedures to
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Accrued Expense “Accrued expenses are expenses that have occurred but are not yet recorded through the normal processing of transactions. Since these expenses are not yet in the accountant's general ledger, they will not appear on the financial statements unless an adjusting entry is entered prior to the preparation of the financial statements.” (What are accrued expenses, n.d. pg.1) If an adjusting entry is made it should be journalized in the period in which it occurred and not the period which
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Morningstar Document Research FORM 10-K ORACLE CORP - ORCL Filed: June 28, 2011 (period: May 31, 2011) Annual report with a comprehensive overview of the company ® ℠ Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ⌧ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended May 31, 2011 OR � TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
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P R E FAC E THE ACCOUNTING ENVIRONMENT Accounting is the most employable, sought-after major for 2009, according to entrylevel job site CollegeGrad.com. One reason for this interest is found in the statement by former Secretary of the Treasury and Economic Advisor to the President, Lawrence Summers. He noted that the single-most important innovation shaping our capital markets was the idea of generally accepted accounting principles (GAAP). We agree with Mr. Summers. Relevant and reliable financial
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been used for centuries. d. The practice of accounting requires considerable professional judgment. 2. Which statement is incorrect regarding Philippine Financial Reporting Standards (PFRSs)? a. PFRSs set out recognition, measurement, presentation and disclosure requirements dealing with transactions and events that are important in general purpose financial statements. b. PFRSs are based on the Framework, which addresses the concepts underlying
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