Balance Sheet - the information it provides | A typical balance sheet would look something like this. Balance Sheet of M/s Free Flow Fluids as on 30th June 2007 | Liabilities | Amount | Assets | Amount | Eq. Share Capital Pr. Share Capital Reserves and SurplusCapital Reserve General Reserve Share Premium Retained Earnings (P/L Appr.) Other ReservesLong Term Loans Fixed Deposits Collected Debentures Provisions for Taxation Provisions for Dividends Outstanding Expenses
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• Direct expense: this is a strange cost that many texts don't include; but (International Accounting Standard) IAS 2, for example, includes it. Direct expenses can include the costs of special designs for one batch, or run, of a particular set of tables and/or chairs, the cost of buying or hiring special machinery to make a limited edition of a set of chairs. Total direct costs are collectively known as Prime Costs and we can see that Product Costs are the sum of Prime costs and Overheads
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FRANK WOOD’S business accounting TENTH EDITION 1 FRANK WOOD & ALAN SANGSTER Additional student support at www.pearsoned.co.uk/wood FRANK WOOD’S business accounting 1 Visit the Business Accounting, tenth edition Companion Website at www.pearsoned.co.uk/wood to find valuable student learning material including: l l l l l l Learning objectives for each chapter Multiple choice questions to help test your learning Review questions and answers Links to relevant sites on the web
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E-Business Suite SAP R/3 (FreeBalance Software, Canada) (Oracle Corporation, USA) (SAP AG, Germany) FreeBalance eFinancials www.freebalance.com Budget Preparation Budget Appropriations Management of Payments Management of Revenues Accounting (General Ledger) Cash/Fund Management Commitment/Purchasing Asset/Inventory Management Financial Reports HR Management and Payroll Interfaces and Workflow Mgmt Technology
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CHAPTER 6 Audit Planning, Understanding the Client, Assessing Risks, and Responding Review Questions 6–1 In their investigation of a prospective client, the CPAs should assess the backgrounds and reputations of the prospect and its major shareholders, directors, and officers. Thus, inquiries are made of underwriters, bankers, and attorneys that conduct business with the prospective client. Also, the CPAs are required to make inquiries of the prospect’s predecessor auditors
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CHAPTER 6 Audit Planning, Understanding the Client, Assessing Risks, and Responding Review Questions 6–1 In their investigation of a prospective client, the CPAs should assess the backgrounds and reputations of the prospect and its major shareholders, directors, and officers. Thus, inquiries are made of underwriters, bankers, and attorneys that conduct business with the prospective client. Also, the CPAs are required to make inquiries of the prospect’s predecessor
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Bank Accounting (FI-BL) Release 4.6C HELP.FIBL Bank Accounting (FI-BL) SAP AG Copyright © Copyright 2001 SAP AG. All rights reserved. No part of this publication may be reproduced or transmitted in any form or for any purpose without the express permission of SAP AG. The information contained herein may be changed without prior notice. Some software products marketed by SAP AG and its distributors contain proprietary software components of other software vendors. Microsoft , WINDOWS
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ACCOUNT CLASSIFICATION AND PRESENTATION Account Title Accounts Payable Accounts Receivable Accumulated Depreciation—Buildings Accumulated Depreciation—Equipment Advertising Expense Allowance for Doubtful Accounts Amortization Expense Bad Debt Expense Bonds Payable Buildings Cash Common Stock Copyrights Cost of Goods Sold Debt Investments Depreciation Expense Discount on Bonds Payable Dividend Revenue Dividends Dividends Payable Equipment Freight-Out Gain on Disposal of Plant Assets Goodwill Income
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Wor9 - 1 04 - 0 71 R EV: JU LY 2 6 , 2 00 4 RO BERT S. KAPLAN D A VI D KIR O N Accounting Fraud at WorldCom WorldCom could not have failed as a result of the actions of a limited number of individuals. Rather, there was a broad breakdown of the system of internal controls, corporate governance and individual responsibility, all of which worked together to create a culture in which few persons took responsibility until it was too late . — Richard Thornburgh, former U.S. attorney general1 On
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ACCT1501 Practice Exam Questions & Solutions QUESTION 1 (10 marks) 2015S2 Accounts Receivable Rupert Ltd maintains subsidiary ledgers for debtors and creditors. At 31 May 2014, the debtors control account has a debit balance of $50,120 and the creditors control account has a credit balance of $30,670. An extract of totals from the special journals for the month of June 2014 is as follows: $ Credit sales 86,500 Cash sales 6,100 Credit purchases 93,200 Cash received from debtors
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