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Accounting

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The Basic Principles of Accounting

Current and Long-Term Liabilities Liabilities Defined A probable future payment of assets or services a company is presently obligated to make as a result of past transactions or events. Fundamentally liabilities are measured by the cost principle however: Liabilities are comprised of known obligations of a definite amount and known obligations of an estimated amount…

Accounting,

Budget,

Finance,

Money

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Pages: 4
Words: 939

An investigation led by BBC’s Panorama identified the issues of accounting mis-declaration including an overstatement of commercial income by GBP 208 million and the cases of supplier mistreatment

An investigation led by BBC’s Panorama identified the issues of accounting mis-declaration including an overstatement of commercial income by GBP 208 million9 and the cases of supplier mistreatment. In one notable case, “L’Oreal, which led the French cosmetics giant to threaten legal action after a disputed payment of about GBP1m demanded by Tesco”.10 An extensive…

Accounting,

Business

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Pages: 2
Words: 267

Four Stages of Accounting

The accounting cycle is the accounting process of recording, summarizing and presentation of business and financial information to a company’s interested parties. The accounting process consists of a series of steps or stages of the accounting cycle, which serves as the logical progression of carrying out related accounting tasks. Important tasks in the accounting cycle…

Accounting,

Budget,

Finance,

Money

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Pages: 5
Words: 1119

The Importance of Leaders

Leadership is a process by which an executive can direct, guide and influence the behavior and work of others towards accomplishment of specific goals in a given situation. While between the leader and followers, the influence is mutual, together, they influence the environment around them in some way. To be effective leaders, managers must understand…

Accounting,

Leadership

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Pages: 5
Words: 1173

Essential of using Accounting Information Systems

By using accounting information systems, it will surely enhance the management, controlling the organization, and it makes a huge improvement in technology, which successfully will achieve the organizational goals of the company (Soudani, 2012). Each institution either concerning to have profit or not seeking for profit is in need to take part for AIS as…

Accounting,

Business,

Economy,

Management,

Technology

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Pages: 4
Words: 763

Accounting Process – Meaning and Types

Accounting is the methodical process of identifying, measuring, recording, classifying, summarizing, and understanding financial information, and communicating the results by way of the preparation of financial statements. Accounting helps in the decision-making actions of management. It is beneficial in pursuing the performance and development of a business. Without accounting, there would be no way for…

Accounting,

Budget,

Finance,

Money

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Pages: 3
Words: 672

Different Ways to Recognize Revenue Under Us Gaap and Ifrs

There is different between the way revenue is recognized under US GAAP and under IFRS before the introduction of harmonized accounting standard jointly issued by FASB and IASB. Under U.S. GAAP, Concepts Statement 6 defines revenue as “inflows or other enhancements of assets of an entity or settlements of its liabilities (or a combination of…

Accounting

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Pages: 4
Words: 873

Accounting

Subpart D Occupational Health and Environmental Controls Medical Services and First Aid (OSHA 1926.50) -Alpha Three Partners shall secure the expert advice of medical professionals in all matters pertaining to Occupational Health and Safety. -Alpha Three Partners requires that multiple employees, including supervisory employees, receive First Aid or First Responder certification. Furthermore, said employees must…

Accounting

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Pages: 3
Words: 583

Concepts and Techniques – Managerial Accounting

The main concepts of managerial accounting are focusing on several points to increase the performance of the organization financially and to lead the organization in the market by making it successful on the short and long-term projects and services. Moreover, Managerial Accounting known as cost accounting also been used to help management to have panch…

Accounting

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Pages: 4
Words: 880

Heritage assets are different from general accounting assets

Heritage assets are different from general accounting assets.This can be proved by the definition of heritage assets by HYPERLINK "https://api.turnitin.com/javascript:void(0);" UK Accounting Standards Board (ASB) at HYPERLINK "https://api.turnitin.com/javascript:void(0);" Financial Reporting Standard (FRS) 30 (ASB,2009, p.2) where inheritance assets are normally HYPERLINK "https://api.turnitin.com/javascript:void(0);" solid advantage which has a special criteria with recorded, creative, logical, mechanical, geophysical or ecological characteristics which should be keep in…

Accounting

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Pages: 5
Words: 1110
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