...Company. Assign Company Code to Fiscal Year Credit Control Area How much credit will u give your customers? Assign Company Code to Above Area. Create Account Groups 1) Balance Sheet Account 2) Income Statement Account 3) Reconciliation Account + Retained Earnings Account 4) Vendor Account – Will come later Create individual GL accounts 1) Bank Account – BS Account 2) A/C’s Receivable reconciliation acc – Reconciliation Group 3) Trading Goods Inventory acc – BS Account 4) Operating Supplies Acc – BS Account 5) A/C’s Payable reconciliation acc - Reconciliation Group If you put ZALL all fields will be open by default to enter data. 6) Goods Receipt A/C – BS 7) Input Tax A/C – BS 8) Output Tax A/C – BS 9) Retained Earnings A/C- BS 10) Common Stock A/C – BS – Capital Account in India 11) Trading Goods Consumption A/C – PL Account – COGS 12) Operating Supplies A/C – PL 13) Misc Expense A/C – PL Define posting periods and assign it to the company code. Create tolerance groups Create payment program to determine how do you want to pay – cash, bank. Determine Initial cash Investment by owners in Capital Account/ Common Stock Account. Create Vendor Master Record for Landlord ---- tanager leasing Create Rent Expense Account – 1500 Create Invoice Receipt to determine how much I have to pay the landlord Post payment, My Vendor Account of tanager should show 0 as...
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...destructive behavior. Conflict theory attempts to explain social conflict through the idea that all participants in a group or society attempt to maximize their personal benefits and are therefore at odds with all other members of the population. Conflict resolution is the ending of a conflict, or at least reduction of its severity. It may involve conflict management, in which the parties continue the conflict but adopt less extreme tactics; settlement, in which they reach agreement on enough issues that the conflict stops; or removal of the underlying causes of the conflict. Settlements sometimes end a conflict for good, but when there are deeper issues—such as value clashes among people who must work together, settlements are often temporary. True resolution of conflict involves not only a cessation (ending) of antagonistic (hostile) interactions, but also reconciliation—forgiveness and a new start in the relationship. Method of...
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...References Australian for Native Title and Reconciliation. (1992). Redfern Speech(Year for the World’s Indigenous People). Retrieved from: http://antar.org.au/reports/paul-keatings-redfern-speech Australian for Native Title and Reconciliation. (2013). Reconciliation. Retrieved from: http://antar.org.au/campaigns/reconciliation Australian Human Rights Commission. ( 1997). Bringing them Home Report. Retrieved from: https://www.humanrights.gov.au/publications/bringing-them-home-report-1997 Australian Indigenous HealthInfoNet. (2013). Summary of Australian health,2012. Retrieved from: http://www.healthinfonet.ecu.edu.au/health-facts/summary Creative Spirit. (2013). Racism in Aboriginal Australia. Retrieved from: http://www.creativespirits.info/aboriginalculture/people/racism-in-aboriginal-australia Eckert, A. (2002). The Global and the Local: Reconciling Universal Human Rights and Cultural Diversity. Human rights and Human welfare, 2(2), 1-7. Hollenbach, D. (2002). The common good and Christian ethics. Retrieved from: http://site.ebrary.com.ezproxy2.acu.edu.au/lib/australiancathu/docDetail.action?docID=10021347 Hunt, J., & Smith, D. ( 2005). Strengthening Indigenous Community Governance: A step towards advancing Reconciliation in Australia. Centre for Aboriginal economic policy research, 2005(4), 1-17 Kuek, V. (2012). Action on reconciliation: Turning good intensions into real actions through commitment to a business paln aims to create better relationships and opportunities...
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...error and fraud.”. Segregation of duties is to ensure that a single individual will be responsible for only one component. One of the benefits of maintaining separated duties is that it reduces the risks of fraud in the business. Other benefits are safeguarding the assets, making the financial reports fairly presented, and reducing the cost of external audit. Four functions are commonly segregated in practice. They are custody, authorization, record keeping and reconciliation. We intend to describe these functions in detail, provide examples of each control, and a real world example of what can happen when these functions are not separated. Authorization is described as, “the basis by which the authority to complete the various stages of a transaction is delegated” by the University of Washington. Authorization is a privilege that can relate to any one of the topics we are covering in this paper. Authorization can be granted by one individual to another in the areas of recording, receipt and custody, or reconciliation. The main issue at hand is the individual responsible for authorizing a transaction should not have the ability to perform any of the functions to which the authorization is...
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...GOD’S PURPOSE REVEALED: RECONCILIATION & UNITY IN THE CHURCH Table of Contents INTRODUCTION 1 THE SUPREMACY OF THE HEAD:JESUS CHRIST 1 CHRIST IN HIS PEOPLE:THE BAPTISM OF THE HOLY SPIRIT 2 THE EKKLĒSÍA:THE BODY OF CHRIST 3 THE PURPOSE OF THE EKKLĒSÍA:UNITY & RECONCILIATION 4 CONCLUSION 8 BIBLIOGRAPHY 10 INTRODUCTION We begin with the fact that God: . . .[R]aised Christ from the dead and seated him at his right hand in the heavenly realms, far above all rule and authority, power and dominion, and every name that is invoked, not only in the present age but also in the one to come, and God placed all things under his feet and appointed him to be head over everything for the church, which is his body, the fullness of him who fills everything in every way. In Ephesians 1:20-23, we see the exalted Christ, reigning in heaven, having put all things under His feet. Jesus Christ is the head of the church, which is His body. In the eyes of God, the church (ekklēsía) is so much more than traditionally thought. The church is destined for so much more than just to be saved from the wrath of God. God has purposed that the ekklēsía, his called-out body of believers, be His agents or representatives on the earth during this present age to reconcile all things to Himself. He therefore has filled his people with Himself, through the Holy Spirit. The purpose of this paper is to discuss God’s mystery revealed, unity and reconciliation. THE SUPREMACY OF...
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...Reconciliation | The story “Reconciliation” was written in 2006, by Polly Park. Laura is the narrator in the text “Reconciliation” we start in quickly into the events. We see the world from the narrator point of view, this point of view; help us to characterizing Laura, because when we see the world from her point of view. The story is told by a first person, and we see the story from Laura’s point of view. Laura is also the narrator in the text. Laura is a person there haven’t an organised life, already in this quote, we know that Laura is a person with good ideas “It saved me 20 minutes this morning” ll.15. Laura feels in the beginning that she doesn’t fit god in, “It’s a bunker in hazardous beige. The soles of my feet toil across the industrial carpet. The desks are lined up like cars in a jam, each with a driver who never looks up. There’s no sound except the clicking of computer keys and my feet, flailing across the carpet" ll. 10-12. This quote tell us that, Laura doesn’t fell comfortable with her new job, but after some times she begins to fell better with her new job. “Here and there, tinsel has been wrapped around the edges of desks and hung around whatever is on the wall: a fire extinguisher, a health and safety notice. I warm up a little" ll. 12-15. But Laura find out after some times that, her boss also is her Ex-husband. And already in the beginning when we meet Veron, Laura describe him as a person there don’t trust anybody, even his wife, “His arms in his shiny...
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...As the internal accountant for XYZ, Inc. it is my responsibility to inform you that I do support the full financial review prior to submitting our bid to the United States government. I have provided four major reasons why we should have a full financial review. Each of these four reasons is listed below as to why it is important to take action and take advantage of a full financial review. 1) The impact of occupational fraud and abuse on the company. Occupational fraud and abuse can financially damage a company. The term “occupational fraud” is defined as “The use of one’s occupation for personal enrichment through deliberate misuse or misapplication of the employing organization’s resources or assets.” There are three common types: Asset misappropriation (larceny, skimming); corruption (kickbacks, extortion); and fraudulent statements (financial statements, employment credentials)” (Akron/Canton, 2012). Without the knowledge of occupational fraud and abuse a company’s bottom line could be seriously affected. Not only does occupational fraud and abuse affect a company’s bottom line, but it can also affect employee morale, and customer loyalty. Undetected fraud and abuse can and has destroyed companies in the past and we as a company should make sure this does not happen. 2) U.S. governmental oversight of accounting fraud and abuse and its effect on the company. The United States government has implemented rules and regulations to handle occupational fraud...
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...ACCT504 Acct Fin: Managerial Use, Analysis Senior Faculty: Anita Wibbert Keller Graduate Rajesh Mahbubani Week 5: Assignment Sunday, December 1, 2013 1. Inform the President of any new internal control requirements if the company decides to go public. (7 points) Instituting a system of internal checks and balances would be foremost in my recommendations to the company president since most internal control systems provide for independent internal verification; this principle involves the review of data prepared by employees. To obtain maximum benefit from independent internal verification: * Companies should verify records periodically or on a surprise basis. * An employee who is independent of the personnel responsible for the information should make the verification. The company should also look at incorporating a Voucher Control System. Most medium and large companies use vouchers as part of their internal control over cash disbursements. A voucher system is a network of approvals by authorized individuals, acting independently, to ensure that all disbursements by check are proper. When looking to hire new employees, it is vital that the company utilize the extensive resources on the web in providing for complete background investigations. A lot of wasted time and energy could be recouped using effective human resource controls. Effective web access controls could likewise prevent embarrassing behavior and lost company time on the part of current...
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...being debited and credited in the client's transactions? Chart of Accounts Which of the following sequence of steps in the accounting cycle is correct? Prepare documents, record in journals, post to ledgers, and prepare unadjusted trial balance What are the names of Waren's three employees? Ray Kramer, Jim Adams, Nancy Ford The overall objective of the Systems Understanding Aid and this class is to help aid in the understanding and visualization of the entire accounting process How much sales tax applies to wholesale sales according to Illinois state law? No sales tax On January 15, Waren Sports Supply purchased on account $120,000 in from their vendor Velocity Sporting Goods. On February 10 they paid the vendor in full for this purchase. The correct journal entry is Debit Accounts Payable $120,000 Credit Cash $120,000 Which of the following statements are true? Original entries are recorded in journals and journal account totals are posted to ledgers periodically. According to the flowchart on page 31 of the Reference...
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...Cash Control Wilmington University June 28, 2015 This paper was prepared for Leadership Development and Change Management MGT 6503 Week 7 Final Project: Cash Control Cash Control In an organization as large as the healthcare system I work for, each clinical department has their own financial group consisting of a Chief Financial Officer and a Director who is supported by two to three accountants. To name a few, some of these many clinical departments are OBGYN, Ophthalmology, Medicine, Radiation Oncology, Dermatology, Surgery, Family Medicine, Neurology and Radiology. All together, the health system is organized into about twenty clinical departments (excluding non-clinical departments such as advertising, accounts payable, legal, human resource, etc) that report to corporation’s centralized Finance department. Some of Finance’s many duties are to book journal entries that are often generic to all departments and review all the submitted P&L from each department. Once the reviews and analyses are completed, the Centralized Finance team consolidates all of the financial statements for the organization as one. My department (OBGYN, Obstetrics & Gynecology) is made up of both full time and part time employees. The department has about eighty physicians and an additional three hundred employees supporting the work of the physicians. The other supporting staff members include practice managers& supervisors, nurses...
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...in tourism planning: racial reconciliation and sustainable community development in the Deep South Alan W. Bartona* and Sarah J. Leonardb a b Downloaded By: [University at Buffalo, the State University of New York (SUNY)] At: 06:29 3 November 2010 Social Sciences, Delta State University, DSU Box 3264, Cleveland MS 38733, USA; The College Board, Chicago, USA Tourism can serve as a vehicle for sustainable community development by contributing to equity and social justice. This happens as tourists learn about marginal groups through educational tourism, engage in development projects with host-area residents, undertake pilgrimages that bring greater meaning and cohesiveness to an ethnic identity, or encounter stories that transform their view of social injustice and spur further action to reduce inequities. Tourism planning can produce a sense of reconciliation when it brings historically divided groups together. An example is found in Tallahatchie County, Mississippi, where a group of white and African American residents are collaborating to develop tourism projects designed around a narrative of reconciliation, while they use the process of tourism planning to work towards racial reconciliation within their community. This case illustrates strategies tourism planners employ and challenges they face when they envision tourism as more than merely a means of economic growth. Keywords: heritage tourism; Mississippi Delta; racial reconciliation; social justice; sustainable...
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...Controls for Outflows Learning Team A ACC/544 June 29, 2015 La Ron Roach Controls for Outflows Misstated expenses and costs have been listed as common reasons for financial statement restatements according to a report issued by the Government Accountability Office (Louwers et al, 2007). The improper recording of costs and expenses are due to errors as well as fraud. To prevent errors and fraud, proper controls for outflows should be performed. This proposal seeks to provide recommendations and explanations of controls in the areas of purchasing, accounts payable, cash disbursements, finance, investment, and payroll. Purchasing Purchases are made based on an organization’s needs and are therefore a key component in business. The following internal control practices can help to alleviate risk and reduce fraud: • Segregation of duties • Accountability through authorizations and approvals • Security of assets • Review and reconciliation Segregations of duties can be implemented by assigning related purchasing functions to different people. This ensures that no person has complete control over all buying functions. The safest practice is to have different employees to approve purchases and receive goods that have been ordered. Also, different people should approve invoice payments, conduct inventory counts, and perform a financial records review. Without this separation, the potential for theft and fraud increases...
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...ENABLING FORGIVENESS AND RECONCILIATION IN FAMILY THERAPY Interpersonal conflicts are almost inevitable within families. The closeness and intensity of family relationships along with differences among family members in knowledge, desires, values, abilities, etc., account for much of this turmoil. Family members are often deeply hurt in the course of their conflicts and sometimes there is a significant breach of trust, Occasionally a family member will consider a certain offence unforgivable and will not seek reconciliation. Usually, however, family members try to recover a sense of personal and relationship wellbeing by endeavoring to forgive and reconcile. This can be a long and arduous process. Therapists are often consulted to facilitate such healing. My purpose in writing this paper is to share my understanding of some of the complexities involved. The perspective that I adopt is a social constructionist or ‘bringforthist’ stance. I assume that through caring conversation, it. is possible to bring forth preferred ways of thinking and interacting that can lead to forgiveness and reconciliation. MUTUAL HURTS The duration and effects of any particular conflict between family members depends on how differences are managed in the nuances of ongoing family interaction: Conflicts vary from brief disagreements that are hardly noticeable, to extremely destructive emotional and physical battles that last for years. During any major episode of conflict, all parties involved tend...
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...should be selected and installed. The modules that were selected and installed are General Ledger, Accounts Payable, Point of Sale (POS) and Bank Reconciliation. The Asset Management and Accounting module was not acquired. Auxiliary generators have been installed at each location and the corporate offices, due to the frequent power issues in Southern California, to ensure that the accounting and finance system is available 24 hours a day, 7 days a week. General Ledger Module A general ledger is a record that stores balance sheet and income statement transactions (Averkamp, 2014). The financial data listed in the general ledger is the assets, liabilities, equity, income, cost of goods sold (COGS) and expenses in this order. A systematic numbering system is used to assign account numbers to each individual account under each section. At this point, the items are considered accounts. The account numbers that are assigned to each item can be found in the Chart of Accounts (COA). Accounts Payable Module Accounts payable (AP) are debts that must be paid off within a given period of time to avoid being in default (“Accounts Payable – Ap”, 2014). AP entries are found on the balance sheet under the current liability heading. An example of an AP debt is payments on bank loans, credit accounts or suppliers. AP is also the common name for the department or division within a company that is responsible for making payments. Point of Sale (POS) Module A point of sale (POS)...
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...about occupational fraud. 1. For most large companies, occupational fraud is minimal and internal controls procedures are unnecessary. 2. Managers have a variety of reasons for manipulating the numbers in financial statements, such as maximizing their compensation, increasing the company’s stock price, and preserving their jobs. 3. Internal control procedures include formal policies and procedures related to (1) safeguarding the company’s assets and (2) improving the accuracy and reliability of accounting information. 4. “Cooking the books” is a phrase used by accountants to indicate the preparation of financial statements that are free of manipulation. 5. Most occupational fraud cases involve misuse of the company’s resources. 6. Common types of financial statement fraud include creating fictitious revenues from a phantom customer, improperly valuing assets, hiding liabilities, and mismatching revenues and expenses. Required: State whether the answer to each of the statements is true or false. Answer true-or-false questions about the Sarbanes-Oxley Act (LO1) E4-2 Below are several statements about the Sarbanes-Oxley Act (SOX). 1. SOX represents legislation passed in response to several accounting scandals in the early 2000s. 2. The requirements outlined in SOX apply only to those companies expected to have weak internal controls or to have manipulated financial statements in the past. 3. Section 404 of SOX requires both company management and auditors to document...
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