FINANCIAL STATEMENTS Questions LG1 1. List and describe the four major financial statements. The four basic financial statements are: 1. The balance sheet reports a firm’s assets, liabilities, and equity at a particular point in time. 2. The income statement shows the total revenues that a firm earns and the total expenses the firm incurs to generate those revenues over a specific period of time—generally one year. 3. The statement of cash flows shows the firm’s cash flows over a given
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FINANCIAL STATEMENTS Questions LG1 1. List and describe the four major financial statements. The four basic financial statements are: 1. The balance sheet reports a firm’s assets, liabilities, and equity at a particular point in time. 2. The income statement shows the total revenues that a firm earns and the total expenses the firm incurs to generate those revenues over a specific period of time—generally one year. 3. The statement of cash flows shows the firm’s cash flows over a given
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B120 An Introduction to Business Studies Assignment Booklet Contents 1 Introduction 3 1.1 How to pass B120 3 1.2 The purpose of assignments in B120 1.3 What tutors are looking for in the assignments 3 4 1.4 Word processing 4 1.5 Word limits 1.6 Referencing 5 7 1.7 Plagiarism – what it is and how to avoid it 1.8 Completing and sending in your assignments 7 8 1.9 The structure of each assignment 2 TMA 01 11 13 2.1
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Management's attitude toward aggressive financial reporting and its emphasis on meeting projected profit goals most likely would significantly influence an entity's control environment when [pic][pic] A. The audit committee is active in overseeing the entity’s financial reporting policies. Answer A is incorrect. An active audit committee tends to temper management's aggressive stance. [pic] B. External policies established by parties outside the entity affect its accounting practices. Answer
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TB EXAM QUESTIONS Chapter 1 True False 1.Napoleon found the Italian system of accounting to be inefficient. 2.Venice’s commerce was driven by sea traffic. 3.The Genoese system was the first to imply that unlike items could be compared in terms of a common monetary unit. 4.Double entry bookkeeping quickly had world-wide acceptance, as the British accepted it in the 1400s. 5.When hyperinflation exists, alternative systems to historical cost become necessary. 6. The International
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and Auditors prepare and assess financial records to declare the fairness and accuracy of a company’s financial records. Auditors perform what is known as an audit which is a close inspection of a company’s financial records to ensure they are correct; during a financial audit all financial records of a company including ledgers, internal financial reports, official published reports, accounts payable, and accounts receivable will be examined. This type of inspection keeps a company honest and also
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MANCOSA(MANAGEMENT COLLEGE OF SOUTHERN AFRICA)ASSIGNMENT COVER SHEET | | Surname | TSHIOMA | First Name | THILIVHALI | Student Number | 110570 | Subject | PROJECT MANAGEMENT | Assignment Number | 6 | Tutor's Name | | Examination Venue | COLLEGE OF EDUCATION AT WITS | Date Submitted | 21 MARCH 2011 | Submission | First submission | X | Re-submission | | Postal Address | 4 Wilzen Road | | Modder East | | Springs | | 1559 | e-mail | quidditch@webmail.co.za | Contact Numbers |
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Chapter 2 organization strategy and project selection Chapter Outline 1. The Strategic Management Process: An Overview A. Four Activities of the Strategic Management Process 2. The Need for a Project Portfolio Management System A. Problem 1: The Implementation Gap B. Problem 2: Organizational Politics C. Problem 3: Resource Conflicts and Multitasking 3. A Portfolio Management System A. Classification of the Project 4. Selection Criteria A. Financial Criteria
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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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global IFRS manual provides comprehensive practical guidance on how to prepare financial statements in accordance with IFRS. Includes hundreds of worked examples, extracts from company reports and model financial statements. IFRS 3R: Impact on earnings – the crucial Q&A for decision-makers Guide aimed at finance directors, financial controllers and deal-makers, providing background to the standard, impact on the financial statements and controls, and summary differences with US GAAP. IFRS disclosure
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