Accounting Assumptions, Principles, and Constraints XACC 280 It can be said that when dealing with all aspects of accounting one would have their own assumptions of what exactly accounting can be interpreted to be. Along with assumptions, there are certain principles and constraints that are established in the accounting field. A clear explanation of principles, assumptions, and constraints can be done. The assumptions in accounting are first the monetary unit assumption which is the requirement
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Week 7 Checkpoint: Ratio, Vertical, and Horizontal Analyses XXXXXXXXXX XACC/280 June 28, 2014 Zenos Gavales A financial statement analysis is the process of review financial statements that can include balance sheets and profit or loss statements. The three tools of financial statement analysis are ratio analysis, horizontal analysis and vertical analysis. With ratio analysis we can analyze data and determine the overall financial strength of a company. Horizontal analysis is a procedure
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Accounting Nightmare The Fall of Enron Karen Shuler 10/16/2013 XACC/280 Enron started as an energy company that sold natural gas to gas companies. Energy markets changed in 1996, instead of the price being fixed, the price was now decided by competition among energy companies. This is when Enron stated trading contracts instead of selling natural gas. The quick growth this company experience brought in many investors and drove the price
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Recognizing Differences N. Jackson XACC/291 May 14, 2014 Christopher Severson Recognizing Differences Accounting requires that the most accurate numbers be recorded as they relate to specific assets and liability accounts. In order to ensure that those items have been properly identified and aligned with the proper costs, various processes are used based on the type of item that needs to be recorded. Four processes
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Recognizing Differences Johnny T Russell XACC/291 Paula Hill 06/22/2014 Abstract There are differences between depreciation, valuation, amortization, and depletion. This short essay will show how they different from each other and whether it is ok to calculate depreciation by using two different methods. Depreciation, depletion, and amortization may have a different way of being presented. Each one is are accounting terms and are listed within the Generally Accepted Accounting
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Career Opportunities for Accountants Janie Goins XACC - 280 January 20, 2013 Mark Detka Public accounting and financial advising would be two business sectors that I might want to work in if I were an accountant. Per the website, “The Free Dictionary”, it takes “A person who has the requisite skill and experience in establishing and maintaining accurate financial records for an individual or a business” to be in an accounting role (The Free Dictionary, 2012). Taxation would be the part
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Week 1 Relational Database Creation Anita A Basdeo XACC/210 November 9, 2014 DONNA TENNYSON In this paper I will be creating a relation database from Scratch, it will show you the table that have common keys filed. Referring to chapter Four In order to create a relation database we have to make sure that we “enables designers to identify relationships at the time
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Accounting Information System Requirements XACC/210 The requirements for developing an accounting information system are not unlike the design of an IT system. There are specific steps to adhere to in order to have a successful outcome. 1. Planning and investigation- It is important to determine what is required by each individual company in order to be successful. A company cannot skip this step and jump into a new system. The outcome would surely fail. 2. Analysis- It is important
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Deanna Cain XACC/280 CheckPoint: Subsidiary and Special Ledgers Journals The four different special journals consist of the Sales Journal, Cash Receipt Journal, Purchases Journal, and the Cash Payments Journal. Each of the Journals is a very important part in the final outcome. The Sales Journal is chronological entries of all goods sold as well as services provided; which ever the case may be. Keep in mind that the cash sale entries are not entered here. The advantage of using
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Clive Williams Capstone Question XACC/291 September, 11th 2014 Shontell Chrisman There are many different elements that involved with operating a successful business. The world of “moving money” or financing is derived of a host of complex mathematics, but with one simple goal in mind, “Profits.” One of the most dangerous, but commonly known viruses to the banking world is the fraud. In chapter 7 of “Financial Accounting” describes fraud as a dishonest
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