Explaining Basic Accounting Concepts and Business Structures Matthew Philip Moshi ACC/537 September 17, 2012 Joseph P McDonald Basic Accounting Concepts and Business Structures The catastrophic collapse of the stock market in 1929, subsequently resulting in the great depression will forever coincide with the private sector’s formulation and subsequent issue of formal accounting standards (Keiso, Warfield, & Weygandt, p. 6, 2007). Appeals for heightened governmental regulation over financial
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assists in meeting the required features. The regulations develop rules for documenting information for the purposes of bookkeeping. The “revenue recognition principle” stipulates that income must be documented in the period it has been made. The “matching principle” states that an organization must couple expenditures with income in the time the income is received. The” full disclosure principle” necessitates that an organization must allot monetary dealings that may present a variety to its users
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Generally accepted accounting principles (GAAP), created with authoritative support, are principles, rules and guidelines required to follow by accountants when preparing financial statements. The Hierarchy of GAAP is a structure consists of four different categories of well- developed accounting principles. The categories are from A to D with category A containing principles with the most authoritative support and category D having the lease. Major sources of The Hierarchy of GAAP are FASB Standard
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Selenium Reference Concepts A command is what tells Selenium what to do. Selenium commands come in three 'flavors': Actions, Accessors and Assertions. Each command call is one line in the test table of the form: |command |target |value | Actions are commands that generally manipulate the state of the application. They do things like "click this link" and "select that option". If an Action fails, or has an error, the execution of the current test is stopped. Many Actions can
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long-term contracts. c9.Percentage-of-completion method. b10.Percentage-of-completion method. c11.Classification of progress billings and construction in process. b12.Calculation of gross profit using percentage-of-completion. a13.Disclosure of earned but unbilled revenues. c14.Revenue, cost, and gross profit under completed contract. b15.Disadvantage of using percentage-of-completion. a16.Loss recognition on a long-term contract. c17.Accounting for long-term contract
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principle and the matching principle. The revenue recognition principle requires that companies recognize revenue in the accounting period in which it is earned. For example, in a service company, revenue is considered to be earned at the time the service is performed. When recognizing expenses, a simple rule is followed; “Let the expenses follow the revenues.” Which means expense recognition is tied to revenue recognition. The practice of expense recognition is referred to as the matching principle because
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|School of Electronic Engineering and Computer Science | |ELE569 Microwave Electronics | |CAD Techniques for RF Electromagnetic – The Network Analyser | |
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shape of the eyes, nose, cheekbones, and jaw. These features are then used to search for other images with matching features. Other algorithms normalize a gallery of face images and then compress the face data, only saving the data in the image that is useful for face recognition. A probe image is then compared with the face data. One of the earliest successful systems is based on template matching techniques applied to a set of salient facial features, providing a sort of compressed face representation
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of chance (such as rolling a dice). A strategic game represents a situation where two or more participants are faced with choices of action, by which each may gain or lose, depending on what others choose to do or not to do. Nash Equilibrium is a term used in game theory to describe equilibrium where each player's strategy is optimal given the strategies of all other players. A Nash Equilibrium exists when there is no unilateral profitable deviation from any of the players involved. In other words
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general contextual factors. 4. Analyze the company’s options by matching its resources with the external environment. 5. Identify the most desirable options by evaluating each option in light of the company’s mission. 6. Select a set of long-term objectives and grand strategies that will achieve the most desirable options. 7. Develop annual objectives and short-term strategies that are compatible with the selected set of long-term objectives and grand strategies. 8. Implement the strategic choices
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