...Exercise E3-2 On numerous occasions, proposals have surfaced to put the federal government on the accrual basis of accounting. This is no small issue. If this basis were used, it would mean that billions in unrecorded liabilities would have to be booked, and the federal deficit would increase substantially. Instructions (a) What is the difference between accrual-basis accounting and cash-basis accounting? (b) Why would politicians prefer the cash basis over the accrual basis? (c) Write a letter to your senator explaining why the federal government should adopt the accrual basis of accounting. a. The difference between accrual-basis accounting and cash-basis accounting is under the accrual basis, companies record transactions in the periods in which the events occur. Using the accrual basis to determine net income means companies recognize revenues when earned rather than when they receive cash. It also means recognizing expenses when incurred rather than when paid. When using the cash-basis, companies record revenue when they receive cash and an expense when they pay cash. a. Politicians prefer the cash-basis over the accrual-basis because it would mean that billions in unrecorded liabilities would have to be booked, and the federal deficit would increase substantially. The budget deficit's main shortcoming is that it is calculated on the basis of cash flow, rather than economic accrual. Letter: Dear Senator, I am a constituent in your parish and...
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...Vol. 5, No. 1 International Journal of Business and Management International Market Expansion Strategies for High-Tech Firms: Partnership Selection Criteria for Forming Strategic Alliances Øystein Moen (Corresponding author) Norwegian University of Science and Technology (NTNU) Department of Industrial Economics and Technology Management N-7491 Trondheim, Norway Tel: 47-7359-3505 E-mail: Oeystein.Moen@iot.ntnu.no Ottar Bakås SINTEF Technlogy and Society, Department of Industrial Management N-7465 Trondheim, Norway E-mail: ottar.bakas@sintef.no Anette Bolstad Norwegian University of Science and Technology (NTNU) Department of Industrial Economics and Technology Management N-7491 Trondheim, Norway Vidar Pedersen Investment Office Nordic, Telenor Nordic Finance Snarøyveien 30, N-1331 Fornebu Tel: 47-9823-2599 E-mail: vidar.pedersen@telenor.com Abstract Newly established, technology-based firms entering international markets often have limited resources in terms of capabilities, time, and capital. As a consequence, these firms often use entry modes characterised by low resource commitment, including partnership agreements (strategic alliances). This paper, investigates which partner selection criteria that are important for this group of firms when they are selecting partners. Based on case studies of three Norwegian firms targeting the UK market, five selection criteria have been identified as important (trust, relatedness of business, access...
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...topic out of curiosity, people will not discourage me without witnessing or knowing it right? That’s why I want to study this topic for me to understand and to know why most accountancy students fail in the Philippines and for me not to fail my chosen course or my accountancy subjects. And I also want to study this topic for others to know that Accountancy is not that hard if you just try you’re best to understand it and give some time to answer or compute all the problems. II. Background of the Study According to my research and resources most accountancy students fail because “accounting assignments/problems are very time consuming and sometimes not easy to understand” (Francisco Vazquez, 2012). And those students don’t want their minds to explode and waste their time to come up with an answer or solution that they choose to play video games or surf the net than answering their math question/s. And these are also some habits why most accountancy students fail: 1. Not Attending Class 2. Not Doing Assignments 3. Not Taking Notes 4. Relying on Other Students 5. Not Managing Time Well 6. Procrastinating / Doing Last Minute Work 7. Not Following Instructions or Directions 8. Not Participating in Class 9. Mind-Blocking / Negative Thinking 10. Blaming Your Teacher...
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...DIFFICULTIES ENCOUNTERED BY ACCOUNTING STUDENTS SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIERMENTS OF THE SUBJECT COMMUNICATION SKILLS BY APRIL JOY ALIMAN REBECCA P. ADAPTANTE KURT JENNELE SANTOS SHENNA MAE GUZMAN MA. FRANCE MAE SANTOS MARJORIE BALINGIT MARK ALGIE BANDOJO CLAIDE JOHN ONG RAMON TAYO LA VERDAD CHRISTIAN COLLEGE BS ACOUNTING TECHNOLOGY MARCH 2015 TABLE OF CONTENTS Chapter I. INTRODUCTION A. Statement of the Problem B. Significance of the Study C. Definition of the Terms II. RELATED STUDIES III. FINDINGS IV. CONCLUSION V. RECOMMENDATION I. INTRODUCTION Accounting is concerned with collecting, analyzing, recording, and summarizing financial information. The purpose is to help people who used this information to make more informed and good decisions. One of the mistakes that many people have thought about accounting is that you have to be very strong in math. We tend to think that it is more about logic and analytical reasoning. You need to learn a lot of rules and make something fits the rules. It is considered a difficult major. Everyone has heard that accounting is all about numbers or being good in math to take accounting. Unfortunately, for many people, just mentioning the word "math" can turned off their interest in accounting and can bring back childhood memories of them having difficulties with long division and fractions or geometry homework, and later avoiding math as much as possible...
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...Accounting jobs are available in literally every possible organization one can think of. An accountant’s main task includes the preparation and examination of financial records and every business needs their finances to be managed and monitored. Also, depending on their specific role to the company, they may also provide financial advice, auditing services, and develop, maintain and analyze budgets. They ensure that the overall financial health of the organization, the company or the individual they are regulating is intact. Therefore, it is evident that accountants have an understanding of all aspects of the business and they are able to identify any possible act of fraud or misrepresentation of figures in a business financial balance. Accountants...
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...[pic] Bachelor of Business Administration in Accounting Course Work Accounting major requires a total of 120 semester hours of coursework-90 semester hours of core curriculum and general business course courses and 30 semester hours in the major area. The following is a suggested plan of taking the required coursework for full-time students pursuing a BBA degree in Accounting. The student CANNOT take course until he/she has successfully completed the designated course prerequisite(s) for that course. Freshman Year – 1st Semester |Course |Title |Hours | |ENGL 1101 |English Composition I | 3 | |MATH 1111 |College Algebra | 3 | |CSU 1022 |University Foundations | 2 | |Area B 2 |Communication | 3 | |Area E 1 |U.S. History | 3 | |Total | | 14 | Freshman Year – 2nd Semester |Course |Title |Hours | |ENGL 1102 |English Composition II | 3 | |MATH 1231 |Intro. to Statistics | 3 | |ECON 2105 |Macroeconomics | 3 | |Area C 2 |Fine Arts, Philosophy or Foreign | 3 | | |Language 2001or 2002 | | |POLS 1101 |American...
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...| People Data | Name | : | Kadzinga, Steven Tawanda | ID | : | 2013050011 | Birthday | : | 22/08/1991 | Assessment Data | Program | : | Bachelor of Business Administration Accounting | Center | : | Main Campus | Bulletin | : | 2010-2012 Bulletin | Date Start | : | 01/05/2013 | Date End | : | 31/12/2017 | Basis of Adm. | : | 2 'A' Levels Plus 6 'O' Levels | Observation | : | | Advisor | Name | : | Ndlovu, Ivonne Lec - Lecturer | Title | : | | Academic Variables | Admission Status | Date | Type | Document | 01/05/2013 | Regular | 1 | | Academic Status | Date | Type | Document | 01/05/2013 | Active | 1 | | Documents Control | Academic Record | 2013 1st Semester :: Main Campus | Mode / Type / Cond | Crd. | Grd. | Qpt. | | | MATH | 181 | Business Algebra | Reg / Core / regular | 3.00 | C | | | | INSY | 110 | Computers and Business Information Systems | Reg / Core / regular | 3.00 | B | 7.00 | | | CONV | 101 | Convocation [1st Year 1st Semester] | Reg / Core / regular | 0.00 | S | 0.00 | | | ACCT | 111 | Financial Accounting 1A | Reg / Core / regular | 4.00 | C | 8.00 | | | ORIE | 100 | Orientation | Reg / Core / regular | 0.00 | S | 0.00 | | | RELT | 215 | Philosophy of Christian Education | Reg / Core / regular | 2.00 | | 0.00 | | | MGMT | 155 | Principles of Management | Reg / Core / regular | 3.00 | B+ | 7.00 | | | ECON | 215 | Principles of Microeconomics | Reg / Core / regular | 3...
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...There many people, who have trouble choosing their career, some see it easy to choose. I have an ambition is to become a successful accountant and want to choose accounting field as my career path after graduation. In accounting field, a good knowledge in accounting, constant accuracy and working experience are important for a success. Traditionally, the accounting process involves record keeping recording, classifying, reporting, and interpreting economic events. While I was in high school, I focus on classes involving math and business. Few years ago, I was more than certain that becoming a business accounting major was what I wanted. My interest in business came from my family. There a lot of responsibility and application of high moral and ethical standards. First, while I was in high school, I focus on classes involving math and business. I was doing well in these courses gives me an indication of whether accounting is the right career for me. I spoke to my guidance counselor in high school about beginning a career in accounting field. My counselors can give me more information about accounting. I was interesting the facts she gave me. I believe that with the experience I've had in high school can help me get through a lot of challenges of being a business student. Second, my interest in business came from my family. Many in my family went to school for business and I'm here to follow. Naturally, if you love what you do, the money becomes less important. My family always...
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...Mathematics in Accounting: What you need to know Contrary to many beliefs, you do not need the math skills of a “genius” to be a successful accountant. In fact, if you know how to add, subtract, divide and multiply, you are ready to venture into learning an accounting career. “Mathematics is less related to accounting than it is to philosophy." -Leonard Adleman Accounting is the system of recording and summarizing business and financial transactions, then analyzing, verifying, and reporting the results. It involves a lot of adding numbers together in designated groups, performing the calculations necessary and coming up with an end result. Because the information is constantly changing in the financial world, accounting is done on a daily, weekly, monthly, and yearly basis on different levels. Therefore the mathematics of accounting consists mainly of basic Algebra as well as knowledge of basic Statistics. Most of the math done in accounting is done with a program that does the calculations for you or is done on a computer, so processing the math on your own is not necessary. Today I will introduce the most commonly used algebraic equation in accounting that is found on the Balance sheet of the financial statements; The Accounting Equation. Arithmetic: A branch of mathematics that deals with nonnegative real numbers including the transfinite cardinals; with the application of the operations of addition, subtraction, multiplication, and division. Algebra: Generalization...
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...Abilities and skills don’t mean anything until you can prove yourself and make the right choices in life. For instance, you could be very good at math and decide to choose a major that has a very light coursework so that you could easily graduate without any problems. Making this decision would be wrong and would show others that the real you aren’t motivated or determined in life. The major that I choose will be something that will challenge me during college and will also agree with my skills. Thinking back to August, I was choosing a major between about three different options. I knew I was interested in animals, construction, and math, but I had no idea how or if I could ever combine the three interests. In the back of my mind, I knew I wanted to challenge myself in college so that I would actually be able to get a high paying job in the future. I knew that choosing a challenging major would pay off in the long run and employers would then see who I truly was, a determined, hard-worker that will do anything to succeed. This is how I coincide with my introductory quote. When our class took the Strong Interest Inventory, I learned a lot about myself. Whether I liked the results or not, I knew they were accurate based on how I live my life. First of all, the inventory said that my top 5 interest areas were taxes & accounting, nature & agriculture, mechanics & construction, mathematics, and office management. These...
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...Introductory College Accounting Courses? * Uploaded by Audrey De Jesus * * * * 1 New Horizons in Education, Vol.59, No.3 , December 2011 How Much Do Study Habits, Skills, and Attitudes Affect Student Performance in Introductory College Accounting Courses? Darwin D. YU Ateneo de Manila University, Philippines Abstract Background: Financial accounting is a skills course which to a large extent can be best learned through deliberate practice. Teachers implement this by continuously assigning homeworks, encouraging good study habits, asking students to budget time for studying, and generally exhorting students to “work hard”. Aims: This paper examines the impact of “study habits, skills, and attitudes” (SHSAs) on the performance of students in an introductory nancial accounting college course. Sample: 395 2 nd year business students in a Philippine university. Method: Data related to variables found to have inuenced accounting performance in previous researches as well as SHSA variables are collected through student survey and school records. They are treated as independent variables using multiple regression analysis, with the accounting course nal grade as the dependent variable. The paper also examines the factors that differentiate high- from low-performing students. Results: The study found that math prociency, English prociency, high school accounting, and academic aptitude inuence accounting performance...
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...UI 100 Dr. Christ McGowan 4 November 2013 Accounting At Southeast Missouri State University, I want to pursue my degree in the field of accounting. After completing the “Choose a Major” project, it made me realize even more that accounting was indeed the right career for me. I learned a great deal during this project and the project also made me think of what I would like to do in my future after college. In the accounting program, I will be able to do it, it will benefit me after graduation, and it will please me. During my high school years, I had to make a decision on what major I wanted to pursue in college. I chose to go into accounting at Southeast Missouri State. Before making that commitment, I spent quite a lot of time deciding if I thought that this was the right major for me. Many people I know in my home town majored in accounting. Some had bachelor degrees and some had master degrees. I asked many of them what I should focus on to be successful in the accounting field. They each told me to always be a stickler for details, always do well in your math classes and be very knowledgeable with your computer programs. Also, very key to an accounting position is to have excellent communication skills. They also said it would be a challenging major and to work hard and never give up. After getting all of their input, I knew I could do it. I have always been someone that has determination and does not like to fail. I will work harder at something if I realize...
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...Studies (Friday Study Hall)HealthMedia | TERM 3: 16 July – 21 September | Week 1: 16/7-20/7Staff Day Monday 16/7 | Accounting (Friday Study Hall) | Week 2: 23/7-27/7 | LiteratureHistory Business Management (Friday Study Hall) | Week 3: 30/7-3/8 | Psychology (Monday Study Hall)Physical Education | Week 4: 6/8-10/8 | Accounting (Group A Monday Pd. 2, Group B Monday Pd. 3)Further Maths (Monday Study Hall)Chemistry (Group A Tuesday Pd. 2, Group B Tuesday Pd. 3)Math Methods (Pd. 7 – 4.00pm Tuesday)Specialist MathsItalianEnglish (Friday Study Hall)BiologyHealth | Week 5: 13/8-17/8 | Physics (Monday Study Hall)BiologyAccounting (Friday Study Hall)Physical EducationReligious Education | Week 6: 20/8-24/8Mid-Term Break Monday 20/8 | Design and TechnologyIT ApplicationsEconomics Legal Studies (Friday Study Hall) | Week 7: 27/8-31/8 | Specialist MathsChemistry (Friday Study Hall) Business Management (Friday Study Hall) | Week 8: 3/9-7/9Community Day Friday 7/9 | ItalianPsychology (Monday Study Hall)Biology | Week 9: 10/9-14/9No Senior Sport on Wednesday 12/9 | Physics (Monday Study Hall)Chemistry (Wednesday Study Hall)Business Management (Wednesday Study Hall)Math Methods (Friday Study Hall)Accounting (Group A Monday Pd. 2, Group B Monday Pd. 3)LiteratureBiologyHistorySystems Engineering | Week 10: 17/9-21/9No Senior Sport on Wednesday 19/9 | Further Maths (Monday Study Hall)English (Wednesday Study Hall)EconomicsLegal StudiesHealthSpecialist MathsReligious EducationMediaPhysical...
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...PROJECT GOAL The goal of this graded project is to create the following financial statements for J & L Accounting, Inc.: ■ Balance sheet ■ Income statement ■ Statement of retained earnings ■ Post-closing trial balance The financial statements must be created in one Microsoft Word document (.doc or .docx file). Alternatively, an Excel workbook may be used (.xls or .xlsx file). The Word or Excel file will be uploaded for grading. INSTRUCTIONS Read the following instructions thoroughly before beginning your work. This will help you to become familiar with what is involved in the project. Some students start on the project right away, thinking they’ll save time. Those students tend to get stuck and spend more time working through the project than is necessary. The material you need to know in order to complete the project has been covered in the textbook and the assigned exercises and problems. If you understand the chapters and completed the assigned homework problems, you should have no problem with the project. The project is to be done by hand with a pencil and paper. Use the blank forms provided. At the end of the project, you’ll be given instructions for creating and uploading the financial statements in a Word or Excel file for grading. 27 Graded Project Graded Project Note: The formatting of financial statements is important. They follow Generally Accepted Accounting Principles (GAAP), which creates a uniformity of financial statements for analyz- ing. This allows...
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...Naveen Jindal School of Management 2014-2015 Transfer Guide for Texas Common Course Numbering System Major: ACCOUNTING UTD Courses Degree: Bachelor of Science (B.S.) TCCNS Courses* I. UTD CORE CURRICULUM REQUIREMENTS (42 semester credit hours) A. Communication (6 semester credit hours) COMM 1311 RHET 1302 Survey of Oral & Technology-based Communication Rhetoric 010 Core Code N/A ENGL 1302* *(ENGL 1301 is prerequisite to ENGL 1302 and must be completed prior to taking ENGL 1302. ENGL 1301 can be used to satisfy three semester credit hours of the Communication core curriculum requirement.) B. MATH 1325* Mathematics (3 semester credit hours) Applied Calculus I 020 Core Code MATH 1325 or 1425 *(MATH 1325 is a major requirement that will also satisfy the three-semester-credit-hour Mathematics core curriculum requirement.) (See UTD Departmental Advisor) C. Life and Physical Sciences (6 semester credit hours) 030 Core Code Core options: BIOL 1306-1106, BIOL 1307-1107, BIOL 1308-1108, BIOL 1309-1109, BIOL 1311-1111, BIOL 1313-1113, BIOL 1324-1124, BIOL 1406, BIOL 1407, BIOL 1408, BIOL 1409, BIOL 1411, BIOL 1413, BIOL 1424, BIOL 2206, BIOL 2301-2101, BIOL 2302-2102, BIOL 2304, BIOL 2305, BIOL 2306-2106, BIOL 2316-2116, BIOL 2320-2120, BIOL 2321-2121, BIOL 2401, BIOL 2402, BIOL 2404, BIOL 2406, BIOL 2416, BIOL 2420, BIOL 2421, BIOL 2428, CHEM 1305-1105, CHEM 1307-1107, CHEM 1311, CHEM 1312, CHEM 1405, CHEM 1406, CHEM 1407...
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