Assignment #2: First Steps Educational Program 08/15/2013 Financial Accounting Professor: Dr. Wendy Achilles Abstract First Steps Educational Program is a program that will incorporate traditional educational methods and Montessori methods. The program will educate students from the age of 2 – 17 years old. Teachers will identify their learning styles early in the program and will create a program that best fits their
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lOMoARcPSD Exam 28 March 2013 FINANCIAL ACCOUNTING FOR INTERNATIONAL BUSINESS Income Statement = Total revenues of a company minus the company’s total expenses during a certain so-called accounting period. NET INCOME = REVENUES – EXPENSES Income Statement Revenues -Expenses =Net Income Revenues = increases in stockholder’s equity resulting from selling goods, rendering services, or performing other business activities. Expenses = decreases in stockholders’ equity resulting from the
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MISSIE DUNLAP HSM/260 DR. MARY JOHNSON WEEK 1 5/25/2013 1. GGAP- (Generally Accepted Accounting Principles) These are a set of rules, standards ,conventions, and procedures that were established by The Financial Accounting board for reporting financial information. www.investorworld.com 2. Basic accounting formula- Assets = Liabilities + Capital This formula is for double entry bookkeeping systems. This formula must always balance so that the company has the assets and
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Single-entry: Any bookkeeping system that does not include the complete results of each transaction. It is usually used by small companies or to keep track of specific accounts: for example, a checkbook which only keeps a record of the cash balance. Debit: An amount entered on the left-hand side of an account. Asset and expense accounts
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New delivery channels such as interest and phone have also emerged. With the consolidation and centralization of information, the risk management capabilities of the banks have been strengthened. Electronic Payment Systems through the use of credit and debit cards provide ease of use and convenience to the customers. All this has led to increasing banking activity. Recently, an expert from the Boston Consulting Group quoted “The Indian banking sector is poised to become the world's third largest
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1) General Rules a) If it sounds too good to be true, it is. b) Need to know. Only give information to those people who need to know it and whose identity and security rights are known. c) People visiting our company in person should be watched carefully. 2) Around the Office d) Do not leave your computer logged in while you are not present. e) Do not allow a visitor to access your computer. f) Do not allow a visitor to plug a flash drive or CD into
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Concept Check 5-1 (p. 120) 1. | What is Consumer Credit? | | | | | Consumer credit refers to the use of credit for personal needs (except a home mortgage) by individuals and families. (p. 118) | | | 2. | Why is consumer credit important to our economy? | | All economists now recognize consumer credit as a major force in the American economy. Any forecast or evaluation of the economy includes consumer spending trends and consumer credit as a sustaining force. To paraphrase an old political
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Chapter 02 Investing and Financing Decisions and the Balance Sheet ANSWERS TO QUESTIONS 1. The primary objective of financial reporting for external users is to provide useful economic information about a business to help external parties, primarily investors and creditors, make sound financial decisions. These users are expected to have a reasonable understanding of accounting concepts and procedures. Usually, they are interested in information to assist them in projecting future cash inflows
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Principles of Accounting: Volume I Principles of Accounting: Volume I Editor-in-Chief: Steve Wainwright Sponsoring Editor: Christina Ganim Director of Editorial Technology: Peter Galuardi Development Editors: Denis Ralling and Dan Moneypenny Assistant Editor: Nick Devine Editorial Assistant: Laura Wilson Media Editor: Kimberly Purcell Composition: Lachina Publishing Services Cover Image: © T-Pool/Stock4B/Corbis ISBN-10: 1-62178-014-7 ISBN-13: 978-1-62178-014-4 Copyright © 2012, Bridgepoint
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bank account as of Dec. 31. The bank reconciliation for this Company indicated a negative $5,000 book balance after the check was recorded. Issues: Can the Company use the savings account to offset the negative balances in the checking accounts? Rules: 405-20-40-1 A debtor shall derecognize a liability if and only if it has been extinguished. A liability has been extinguished if either of the following conditions is met: a. The debtor pays the creditor and is relieved of its obligation for
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