Capston In Accounting Unit

  • Premium Essay

    Accounting

    Accounting for non-accounting students eighth edition John R. Dyson ACCOUNTING FOR NON-ACCOUNTING STUDENTS Visit the Accounting for Non-Accounting Students, eighth edition Companion Website at www.pearsoned.co.uk/dyson to find valuable student learning material including: G G G G Multiple choice questions to help test your learning Extra question material Links to relevant sites on the web Glossary explaining key terms mentioned in the book We work with leading authors to develop

    Words: 200572 - Pages: 803

  • Premium Essay

    Accounting

    the equity method of accounting for investments Chapter Outline I. Three methods are principally used to account for an investment in equity securities along with a fair value option. A. Fair value method: applied by an investor when only a small percentage of a company’s voting stock is held. 1. Income is recognized when dividends are declared. 2. Portfolios are reported at fair value. If fair values are unavailable, investment is reported at cost. A. Consolidation: when

    Words: 3522 - Pages: 15

  • Premium Essay

    Accounting

    Before taking any actions relating to your business, always consult your accountant or a business law/tax attorney. The Need for Accounting Every organization needs to maintain good records to track how much money they have, where it came from, and how they spend it. These records are maintained by using an accounting system. Accounting for Windows Accounting Basics • 5 These records are essential because they can answer such important questions as: • Am I making or losing money from

    Words: 10549 - Pages: 43

  • Premium Essay

    Accounting

    Cassandra Lang BA510-1A-78 Financial Accounting Theory & Analysis Week 6 Case 9-6 a. Capital expenditure can be defined as expenditure incurred on the purchase, alteration or improvement of fixed assets. These expenditures last for a long period of time and permanently increase the profit making capacity of the business. Capital expenditures appear in the balance sheet as an increase to the value of assets. For example, the purchase of a car to be used to deliver goods is capital expenditure

    Words: 1114 - Pages: 5

  • Premium Essay

    Accounting

    Ashley American InterContinental University Unit 3 Discussion Board Managerial Accounting ACCT310-1205B-06 January 27, 2013 Job order costing is used in situations where there are different products that are being produced each period. According to accounting for to management (2000), the costs are traced to the jobs and then the cost of the jobs that are divided by the number of the units in the job that are arrive at the cost per unit (para. 1). The type of industry that uses this type

    Words: 491 - Pages: 2

  • Premium Essay

    Accounting

    BS) + Purchases (All costs to buy including Transportation-in, less any Purchase Discount accounts) = Cost of Goods available for Sale (CGAS: Total cost that can be sold, split between EI & CGS) – Ending Inventory (EI: Year-end physical count * unit costs based on system & method used) = Cost of Goods Sold (CGS: Cost of inventory sold this period, switch BS asset to 1st IS expense) 4. What is a common way that a Co. overstates NI (“cooks the books”) & what are FS effects? If Co.

    Words: 4264 - Pages: 18

  • Premium Essay

    Accounting

    INTERVAL CONCEPT, in accounting, requires that financial statements be prepared at regular intervals, e.g. monthly, quarterly, annually. Final accounts are prepared at the end of the accounting period ie one year. Internal accounts can be prepared monthly, quarterly or half yearly. DUAL ASPECT CONCEPT Dual aspect concept states that every transaction has two effects if there is any debit entry then there must be credit entry. This state that there are two aspects of accounting, one represented by

    Words: 1337 - Pages: 6

  • Premium Essay

    Unit 1 Managerial Accounting

    Unit 1 IP By Amber Brooker June 14, 2013 ACCT310 Abstract In this essay I am a manager in an accounting department and would like to hire another managerial accountant. The CEO is not convinced, so I must convince him. Manager Report Accounting has two different purposes: the first is reporting for external users and other is for internal users like management. Because of this, accounting can be put into two different categories: financial accounting and managerial accounting. Financial

    Words: 499 - Pages: 2

  • Premium Essay

    Accounting

    MANAGMENT ACCOUNTING Launchbreak LTD 1. Be able to analyse cost information within a business 1.1 classify different types of cost 1.2 use different costing methods 1.3 calculate costs using appropriate techniques 1.4 analyse cost data using appropriate techniques 2. Be able to propose methods to reduce costs and enhance value within a business 2.1 prepare and analyse routine cost reports 2.2 use performance indicators to identify potential improvements 2.3 suggest improvements

    Words: 2183 - Pages: 9

  • Premium Essay

    Accounting

    Conceptual framework includes objectives, qualitative characteristics, elements, measurement, and recognition concepts. The FASB Concepts Statements guide the board in developing accounting principles and provide understanding. These concept statements are non-authoritative and do not establish generally accepted accounting principles. Entities do not use the FASB Concept Statements in routine preparation of financial statements. (8,2) The IASB and the Interpretations Committee use conceptual framework

    Words: 3445 - Pages: 14

  • Premium Essay

    Kaplan Intermediate Accounting Unit 2

    these rules, where can a person find them, and which ones are more important?” One of the most common rules for financial reporting is GAAP, which is Generally Accepted Accounting Principles. GAAP are and is a combination of authoritative standards and simply the common accepted ways of recording and reporting accounting information from companies. GAAP can be found and imposed by companies so that investors have minimum level of consistency in the area of financial statements when analyzing

    Words: 469 - Pages: 2

  • Free Essay

    Accounting

    accounted as, separate units of accounting? • Yes, it is a multiple element arrangement since it is a sales arrangement that involves delivery of multiple products and services over extended period of time. • The following would quality for separate units of accounting: a. Equipment b. Installation c. Maintenance & Support 2. If the arrangement consists of more than one unit of accounting, how should the arrangement fee be allocated between the separate units of accounting? Assume Manini early

    Words: 272 - Pages: 2

  • Premium Essay

    Accounting

    Accounting FOR DUMmIES 4TH ‰ EDITION By John A. Tracy, CPA Accounting For Dummies®, 4th Edition Published by Wiley Publishing, Inc. 111 River St. Hoboken, NJ 07030-5774 www.wiley.com Copyright © 2008 by Wiley Publishing, Inc., Indianapolis, Indiana Published by Wiley Publishing, Inc., Indianapolis, Indiana Published simultaneously in Canada No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical

    Words: 151136 - Pages: 605

  • Premium Essay

    Accounting

    The graph shows the break-even point in both units and dollars of sales. The equation method uses some variation of the equation Sales = Variable expenses + Fixed expenses + Profits, where profits are zero at the break-even point. The equation is solved to determine the break-even point in units or dollar sales. In the contribution margin method, total fixed cost is divided by the contribution margin per unit to obtain the break-even point in units. Alternatively, total fixed cost can be divided

    Words: 4175 - Pages: 17

  • Free Essay

    Accounting

    to use direct labor hours, the product cost per unit will be as follows: Deluxe Camera Box is $740.00 and the Standard is $100.10 The decision to allocate the overhead based on machine hours is an alternative. The individual product cost per unit will be as follows: Deluxe Camera Box $526.53 and the Standard is $153.52. After calculating the above product costs per unit using the machine hours and direct labor costs, the costs per unit are different for each allocation base. This is

    Words: 597 - Pages: 3

  • Premium Essay

    Accounting Average Cost Per Unit

    statement for the year. 2. Assume that the dollar amounts given above are for the equivalent of 40,000 units produced during the year. Compute the average cost per unit for direct materials used and the average cost per unit for manufacturing overhead. 3. Assume that in the following year the company expects to produce 50,000 units and manufacturing overhead is fi xed. What average cost per unit and total cost would you expect to be incurred for direct materials? For manufacturing overhead? (Assume

    Words: 550 - Pages: 3

  • Premium Essay

    Accounting

    per hour Expected Production Level = 50 000 units Labor Hours Required = 200 000 hours Activity (Cost Driver) | Budgeted Costs for 2010 | Cost Driver Used as Allocation Based | Cost Allocation Rate | Material Handling | $ 325 000 | Number of parts used | $ 0.25 per part | Cutting & Lathe Work | $ 2 340 000 | Number of parts used | $ 1.80 per part | Assembly & Inspection | $ 5 000 000 | Direct labor hours | $ 25.00 per hour | Units Produced | Direct Materials Costs | Number of

    Words: 1235 - Pages: 5

  • Premium Essay

    Accounting

    Accounting Exam #1 Chapter 1 Organizing a business Proprietorship – proprietor – one, proprietor is personally liable Single owner, small retail stores, Partnership – Partnerss – two, partners are personally liable Not a taxpaying entity, income passes through to partners Governement by an agreement Mutual agency – each partner can act on behalf of the entity Unlimited liability Involve risk – limited liability partnerships lessen risk LLC – Members, Members are not personally

    Words: 3535 - Pages: 15

  • Premium Essay

    Accounting

    1. Exam Question Number: 3 Facts: asymmetric information of capital market Issue: Which of the following best illustrates the concept of asymmetric information in a capital market? Analysis: In the article “ Transparency Financial Accounting Information and Corporate Governance” Robert and Abbie stated that “In the investigation of the economic effects of private information acquisition and dissemination, future research can consider the independent effects of the private information

    Words: 1270 - Pages: 6

  • Premium Essay

    Unit 5 Business Accounting

    CV FASHIONS/T-SHIRT MANIA 2013 BTEC L3 BUSINESS DIPLOMA UNIT 5 BUSINESS ACCOUNTING TINOTENDA MARECHA LAMBETH COLLEGE CV FASHIONS/T-SHIRT MANIA 2013 BTEC L3 BUSINESS DIPLOMA UNIT 5 BUSINESS ACCOUNTING TINOTENDA MARECHA LAMBETH COLLEGE CONTENTS DETAILS PAGE NUMBER PURPOSE OF ACCOUNTING-P1 |

    Words: 4454 - Pages: 18

  • Free Essay

    Accounting

    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

    Words: 275 - Pages: 2

  • Premium Essay

    Accounting

    Unit 4 Assignment 1 1. Accrual Basis Accounting: Under the accrual basis accounting, business transactions specifically those relating to income and expenses are recognized and recorded in the books the moment the substance of the transaction has been perfected. Generally Accepted Accounting Principles (GAAP) prefers that financial statements are based entirely on the accrual basis accounting instead of the cash basis accounting. In its simplest terms, the accrual basis accounting assumes that

    Words: 1239 - Pages: 5

  • Premium Essay

    Accounting

    WHAT IS ACCOUNTING? Identify Communicate What is the purpose of accounting ? Measure Record 9 3 8/13/2014 WHAT IS ACCOUNTING?  Accounting information is important because it…  Assists decision making  Provides information about the past, present and future performance of an entity  Measures business activity 10 WHO USES ACCOUNTING DATA? Internal users External users  Managers who plan,  Investors who make organise and run the decisions to buy, hold or

    Words: 1330 - Pages: 6

  • Premium Essay

    Accounting

    Chapter 10 Accounting for Derivatives and Hedge Accounting IFRS 9 defines a derivative as a financial instrument or other contract within the scope of IFRS 9 that meets three criteria: 1. Its value changes in response to a change in an "underlying". The underlying can be the price of a commodity, such as soybeans, or a financial instrument, such as a fixed rate bond. It can also be a rate such as a foreign exchange rate or a specified interest rate, for example, the London Interbank Offer Rate; It

    Words: 5555 - Pages: 23

  • Premium Essay

    Accounting

    Seventh Edition Accounting for Decision Making and Control Jerold L. Zimmerman University of Rochester To: Conner, Easton, and Jillian ACCOUNTING FOR DECISION MAKING AND CONTROL, SEVENTH EDITION Published by McGraw-Hill, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY 10020. Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. Previous editions © 2009, 2006, and 2003. No part of this publication may be reproduced or distributed

    Words: 209552 - Pages: 839

  • Premium Essay

    Accounting

    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

    Words: 1222 - Pages: 5

  • Premium Essay

    Accounting

    Management Accounting IEX Prof. Dr. Michael Lederer . Dr © Copyright : Prof. Dr. Michael Lederer Hochschule Furtwangen – Furtwangen University © Copyright : Prof. Dr. Michael Lederer Page 1 Contents overview management accounting A. Introduction and basic concepts A.1 Cost terms A.2. Costing systems and cost allocation A.3 Cost-volume-profit analysis A.4 Operations accounting 5 11 26 63 78 B. The budgeting process B.1 Budgeting B.2 Variance analysis © Copyright : Prof. Dr

    Words: 9677 - Pages: 39

  • Premium Essay

    Accounting Unit 7

    Fran Mackenzie | Management Accounting | Unit 7 | | Zahra Ali | 10/30/2014 | | Assessor's comments | Qualification | BTEC Level 3 Extended Diploma in Business | Assessor name | Fran Mackenzie | Unit number and title | Unit 7 Management Accounting ( J/502/5419) | Learner name | Zahra Ali | Assignment title | Tasks 1, 2 and 3 Regional Business Support Agency. Costs and Break Even | | Grading criteria | Achieved? | Comments | P1 | | | P2 | | | M1 | | | D1

    Words: 3696 - Pages: 15

  • Premium Essay

    Capston in Accounting Unit

    SHEILA SHAW CONSULTING Balance Sheet August 31, 2011 Assets Liabilities Current assets: Current liabilities: Cash $ 21,300 Accounts payable $ 1,250 Accounts receivable 3,800 Salaries payable 150 Supplies 875 Unearned fees 1,150 Prepaid Rent 2,050 Total liabilities $ 2,550 Prepaid insurance 1,670 Total current assets $ 29,695 Property, plant, and equipment: Owner’s Equity Office equipment $ 21,250 Sheila Shaw, capital 47,720 Less accum

    Words: 335 - Pages: 2

  • Premium Essay

    Accounting

    ------------------------------------------------- BUSINESS ACCOUNTING AND FINANCE (ACC501) ASSIGNMENT ONE Question 1 Answer A: Qualitative factor: Qualitative factor are element and these elements highlights company performance. These elements include profit margin, turnover rates, and management style. Qualitative factors highlight by incremental analysis. Qualitative factor may include :( 1) effect on staff member confidence, routine

    Words: 2811 - Pages: 12

  • Premium Essay

    Accounting

    ------------------------------------------------- BUSINESS ACCOUNTING AND FINANCE (ACC501) ASSIGNMENT ONE Question 1 Answer A: Qualitative factor: Qualitative factor are element and these elements highlights company performance. These elements include profit margin, turnover rates, and management style. Qualitative factors highlight by incremental analysis. Qualitative factor may include :( 1) effect on staff member confidence, routine

    Words: 2811 - Pages: 12

  • Premium Essay

    Accounting

    Accounting Assignment BUSN2036 Financial Accounting Issues 1.Determine if the assets of the CGU are impaired and, if so, by how much. Show all workings The total assets; Fixed Assets Land $150,000 Buildings $280,000 Machinery $140,000

    Words: 535 - Pages: 3

  • Premium Essay

    Accounting

    Inventory Study Objectives. • Describe the steps in determining inventory quantities. • Explain the basis of accounting for inventories and apply the inventory cost flow methods under a periodic inventory system. • Explain the financial statement and tax effects of each of the inventory cost flow assumptions. • Explain the lower of cost or market basis of accounting for inventories. • Compute and interpret the inventory turnover ratio. • Describe the LIFO reserve and

    Words: 4827 - Pages: 20

  • Premium Essay

    Accounting

    Chapter Contents Book Title: Survey of Accounting Printed By: Jean Mette (jeanlucmette@gmail.com) © 2015, 2013 Cengage Learning, Cengage Learning Chapter 11 Cot ehavior and Cot-Volume-Profit Anali Chapter Introduction 11-1 Cost Behavior 11-1a Variable Costs 11-1b Fixed Costs 11-1c Mixed Costs 11-1d Summary of Cost Behavior Concepts 11-2 Cost-Volume-Profit Relationships 11-2a Contribution Margin 11-2b Contribution Margin Ratio 11-2c Unit Contribution Margin 11-3 Mathematical

    Words: 14685 - Pages: 59

  • Premium Essay

    Accounting

    Chapter 8 Segment and Interim Reporting Chapter Outline I. FASB Accounting Standards Codification Topic 280, Segment Reporting (FASB ASC 280), provides current guidance on segment reporting. A. ASC 280 follows a management approach in which segments are based on the way that management disaggregates the enterprise for making operating decisions; these are referred to as operating segments. B. Operating segments are components of an enterprise which meet three criteria.

    Words: 7852 - Pages: 32

  • Premium Essay

    Accounting

    When comparing Managerial Accounting information and Financial Accounting information, which of the following, related to Managerial Accounting information, would be true?(It is concerned with estimates of the results of future activities) 2.In which account are the costs of manufacturing a product (that is ready for sale) accumulated until such time as the product is sold? (Finished Goods Inventory)3. Fardohnya Industries, Inc. reports the following information at 12/31/2012: -Acquired $75,000 cash

    Words: 3325 - Pages: 14

  • Premium Essay

    Accounting

    General Education Transfer Curriculum (IGETC for CSU). 3. Completion of a minimum of 90 CSU-transferrable quarter units (De Anza courses numbered 1-99) with a minimum 2.0 GPA (“C” average). 4. Completion of all De Anza courses combined with courses transferred from other academic institutions with a minimum 2.0 degree applicable GPA (“C” average). Note: A minimum of 18 quarter units must be earned at De Anza College. Major courses for certificates and degrees must be completed with a letter

    Words: 547 - Pages: 3

  • Premium Essay

    Unit

    Unit 5: Business Accounting Keneth Andres Veces Batista S335375 5 June 2015 S. Kommers Table of Content P1: Describe the purpose of accounting for an organisation……………….. (page 3) P2: Explain the difference between capital and revenue items of expenditure and income……………………………………………….……………………………….(page 3/4) P3: Prepare a 12-month cash flow forecast to enable an organisation to manage its cash………………………………………………………...………………………..(page 4) P4: Prepare a profit and loss account and

    Words: 1351 - Pages: 6

  • Premium Essay

    Accounting

    ACC 312 Fundamentals of Managerial Accounting Midterm Exam 1, Spring 2014 Test Form A SOLUTION Name ______________________________________________________________________ UTEID ____________________________________ Instructor ____________________________________________ Class Days ___________________ Time ______________________ DO NOT OPEN until given instructions to do so. Instructions Pages are numbered sequentially, including this page. Confirm that you have 11 pages. 1. Answers

    Words: 4291 - Pages: 18

  • Premium Essay

    Accounting

    document is authorized for use only in ACCT3323 Strategic Management Accounting 2016-1-1 by Asst/Prof Stijn Masschelein, University of Western Australia from February 2016 to August 2016. TCG129 • Converse Health System 2 of 8 _____________________________________________________________________________________________ Converse Organization Exhibit 1 shows Converse’s organizational structure. As it indicates, the provider units (St. Luke’s Hospital Mansfield Memorial Hospital, Lakeview Medical

    Words: 4159 - Pages: 17

  • Premium Essay

    Accounting

    | |1, 2 |3 | |3. |Qualitative characteristics of |3, 4, 5, 6, 8 |1, 2, 3, 4 |2, 3, 4 |4, 9 | | |accounting. | | | | | |4. |Elements of financial statements. |9, 10, 11 |6, 10, 12 |5

    Words: 15256 - Pages: 62

  • Premium Essay

    Accounting

    THEORY OF ACCOUNTS ACCOUNTING CONCEPTS 1. Which of the following statements is/are true? I. Accounting is a service activity intended to fulfill a useful function in society II. Accounting involves the art of recording, classifying and summarizing transaction and events, and interpreting the results thereof. III. Accounting is an art but not a science IV. Accounting provides quantitative financial information intended to be useful in making economic decisions a. I, II, III, IV

    Words: 1052 - Pages: 5

  • Premium Essay

    Accounting

    Acct 340-Midterm Review Multiple Choice Identify the choice that best completes the statement or answers the question. ____ 1. Which of the following is NOT a process associated with an accounting information system? |a. |auditing existing data | |b. |collecting and recording data | |c. |providing information

    Words: 7056 - Pages: 29

  • Premium Essay

    Accounting

    Shapiro: Chapter 2: Capital-Budgeting Principles and Techniques QUESTIONS 1. a. What is the relationship between accounting income and economic profit? Answer: Accounting income is calculated by taking revenues and subtracting all cash and non-cash expenses (such as depreciation). Accounting income also often recognizes losses for tax purposes as well, even though the economic loss may have taken place at another time. Economic profit is the sum of the present values of all the cash

    Words: 5013 - Pages: 21

  • Premium Essay

    Accounting

    UNIT INTRODUCTION FOR GSB 701: INTRODUCTORY ACCOUNTING Unit aims GSB 701 - Introductory Accounting aims to give you an understanding of: • The theory and application of concepts relating to the accounting discipline at the introductory level; • The double-entry book-keeping system; and • All major financial statements prepared by business organisations. In addition, the unit encourages you to: • analyse; and • apply these principles to simulated problems. Prerequisites This unit should

    Words: 2713 - Pages: 11

  • Premium Essay

    Accounting

    ACCT310-1202A-05 Managerial Accounting Unit 2 Individual Project Stephanie Davenport American Inter Continental University Details: Unit 2 - Cost Management Dr. Stephanie White, the Chief Administrator of Uptown Clinic, a community mental health agency, is concerned about the dilemma of coping with reduced budgets next year and into the foreseeable future but increasing demand for services. To plan for reduced budgets, she must first identify where costs can be cut or reduced and still keep

    Words: 521 - Pages: 3

  • Premium Essay

    Accounting

    Accounting is a common thread which unites even the smallest neighborhood business with an organization identified as a Fortune 500 company. Every company, regardless of size or mode of operation, needs to support this function. If accounting is so universal, then, how do companies involved in diverse industries with unique processes prepare their books in the same manner? Well, there exist a common set of standards for entities to follow, but there are also standards specific to organizations

    Words: 1214 - Pages: 5

  • Premium Essay

    Accounting Unit 3

    AC113-Accounting-Unit 3-Assignments Exercise 2-21 (pg.70 &71) Describe how each transaction of Lucent Technologies Inc. affect the three elements of the Accounting Equation Assets Liabilities Stock Holders Equity a Received Cash from issuing stock Increase in stock holder equity and increase in asset of cash b Made cash sale Increase in Asset of cash c Received cash from issuance of long term debt Increase in Asset of cash and Decreased Liability

    Words: 251 - Pages: 2

  • Free Essay

    Accounting

    Below is a small sample set of documents: ACC Week 1 Chapter 17 Abu Dhabi University - ACCOUNTING - 101 ACC 2403Week 1 AssignmentE17-1, E17-3, & E17-21E17-1 (Investment Classifications) For the following investments identify whether they are:1. Trading Securities2. Available-for-Sale Securities3. Held-to-Maturity SecuritiesEach case is independent of Acc Week 5 Abu Dhabi University - ACCOUNTING - 101 E21-1, E21-14, & E21-16.E21-1 (Lessee Entries, Capital Lease with Unguaranteed Residual

    Words: 3165 - Pages: 13

  • Premium Essay

    Accounting

    Objectives..................................................................................................... 2 Basic Accounting Concepts ....................................................................................... 3 Cash versus Accrual Accounting................................................................................7 Qualitative Characteristics of Accounting Information ...........................................9 Valuations on the Balance Sheet .............................

    Words: 10125 - Pages: 41

+
-