Introducing Accounting in Business Overview: This chapter will mainly be a review for you, as you have covered most of the concepts in ACCT 100. You should spend your time reviewing the old concepts, and especially studying the new ones. What’s New in this Chapter? · The corporate form of business ownership. · Accounts that pertain to corporations, Common Stock, Retained Earnings, and Dividends. · Some accounting principles, or at least their names. · Two Financial Statements - Statemen...
1.0 INTRODUCTION Bookkeeping is a concept, typically defined as the systematic recording of the facts that show the position of a business. Every business organization maintains financial records through bookkeeping. This common accounting procedure normally is performed toward the end of the work day or work week. Book keeping involves recording all expenses and payments received. The time spent in performing this procedure varies according to the size of the organization. Meanwhile, a bookk...
INTRODUCTION The computer information age of the 21st century led to the use of computerized accounting systems by different organizations. This is a departure from the manual system. However, most of the accounting source documents in Nigeria such as invoices, a receipt is prepared manually by small businesses except a few organizations whose accounting system is fully computerized to the extent of generating computer-based invoices and receipts. This unit focuses on how accounting data are ...
INTRODUCTION Accounting is a system meant for measuring business activities, processing of information into reports and making the findings available to decision-makers. The documents, which communicate these findings about the performance of an organisation in monetary terms, are called financial statements. Usually, accounting is understood as the Language of Business. However, a business may have a lot of aspects which may not be of financial nature. As such, a better way to understand acc...
ACCOUNTING - INTRODUCTION Accounting is the art of identifying, measuring, recording, and communicating economic information about an organisation or other entity, in order to permit informed judgments by users of the information. Microsoft Encarta Reference Library 2004 INTRODUCTION 1 Bookkeeping: record-keeping aspect of accounting which provides data to which accounting principles are applied n Created in response to the development of trade and commerce, earliest 1340. n First published a...
Chapter 1 Accumulation and Discounting 1.1. Time Factor in Quantitative Analysis of Financial Transactions The basic elements of financial models is time and money. In essence, financial models reflect one extent or another the quantitative relations between sums of money referring to various time points. The fact that with time the cost or, better to say, the value of money changes now due to constant inflation, is obvious to everyone. The ruble today and the ruble tomorrow, in a week, month...
Chapter 1 Introduction to Accounting1.1 Introduction The purpose of accounting is to provide a means of recording, reporting, summarizing, and interpreting economic data. In order to do this, an accounting system must be designed. A system design serves the needs of users of accounting information. Once a system has been designed, reports can be issued and decisions based upon these reports are made for various departments. Since accounting is used by everyone in one form or another, a good u...
Meaning and Scope of Accounting Accounting is the language of business. The main objective of Accounting is to safeguard the interests of the business, its proprietors and others connected with the business transactions. This is done by providing suitable information to the owners, creditors, shareholders, Government, financial institutions and other related agencies. Definition of Accounting The American Accounting Association defines accounting as "the process of identifying, measuring and ...
Nature of Accounting Scope of Accounting Objective of Accounting Branches of Accounting Qualities of Accounting Information Users of Accounting Information Functions of Accounting Who is an Accountant Role of Accounting Accounting Concepts and Conventions Principles and Practice of Double Entry Bookkeeping Cash Book
It Contains assessment responses to batch and job costing in the cost accounting syllable.
Introduction Monitoring and Evaluation (M&E) is used to assess the performance of projects, institutions and programmes set up by governments, international organizations, and NGOs. It goals is to improve current and future outputs, outcomes and the impacts. Monitoring is the continues assessment of programmes based on early detailed information on the progress or delayed of the ongoing activities. An evaluation is the examination concerning the relevance, effectiveness, efficiency an...
Accounting SBA/IA
Many business managers are paid salaries to take risk and make decisions that will influence the future success of the business. Much of this book is concerned with how this decisions are made, the information needed to make them and the techniques that can assist managers in this important task. However no student of business studied can hope to make much progress in the study of the subject unless they have a good understanding of the economic environment in which a business operates. Busin...