Intro to accounting Business Activites Financing Investing Operating Types of Financing Equity investors: Stockholders Hope to receive dividends or increase in stock price—no guarantees! Public versus private company Debt investors: Creditors of the business Expect principal and interest payments SEC (Securites and exchange commission) Established in 1933 Requires of public companies: Form 10-K (annually) Form 10-Q (quarterly) Audited financial statements (annually) by an “independent
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of government accounting Government accounting Government accounting refers to the different accounting systems that the different entities in the public sector use. Government Accounting Standards Board (GASB) set the accounting standards to be used by the state and local government. The role of the Governmental Accounting Standards Board (GASB) is to set up and improve the accounting standards of state and local government. It also ensures that financial reporting gives accurate and reliable
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Careers in Accounting One of the major careers being practiced today is accountancy. Thousands of people are completing their degrees in accounting because there seems to be a bright future for accountants with the appropriate qualifications. Accountants‚ in their career‚ help ensure that the organizations are running more efficiently‚ public records are kept more accurately‚ and taxes are paid properly and on time. They perform important functions by offering a wide volume of business and accounting
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prepared financial statements The International Financial Reporting Standards or better known as IFRS‚ are generally principal-based standards‚ interpretations‚ and framework which is taken up by the International Accounting Standard Board (IASB) (Accounting Standards‚ 1997). The IFRS financial statements include the presentation of a set of statement of financial position‚ an income statement‚ a statement of cash flows and a statement of changes in equity. Information that are presented
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investor. To obtain funding‚ you need to convince a lender / investor that your business is more than a hobby. You need to demonstrate that you have a firm grasp of your business‚ the accounting practices that impact your business‚ the controls needed to safeguard assets‚ and which accounting system will produce accurate and relevant financial information. Write a six to eight (6-8) page business plan in which you: 1. Describe the type of business you have created including: a. The product or service
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Electronic Health Records was developed around the 1960’s and 70’s. An Electronic Health Record is a digital collection of patient health information compiled at one or more meetings in any care delivery settings. A patient’s health record includes their vital signs‚ past medical history‚ demographics‚ their laboratory data‚ immunizations‚ progress notes‚ problems and medication. EHR is often referred to the software platform that manages patient records maintained by a medical practice or hospital
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Introduction Traditionally‚ cash basis of accounting has been used in the public sector; however‚ in recent years extensive debates have emphasised whether a move to accruals basis of accounting would be more feasible. The proponents argue for such a change due to the benefits accruals basis has to offer. There are still heavyweight supporters for cash basis such as IFAC – a body that issued 21 IPSAS based on IMF‚ EU Commission‚ and IFRS / IAS (Jorge Faustino‚ 2008). Moreover‚ there are several organisations
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for you will depend upon your career goals. Earning one of the accounting-related professional certifications is no easy task; however‚ earning and maintaining your certification can increase your chances for advancement and promotion‚ enhance your reputation among colleagues and within the profession‚ and result in salaries that are higher than your non-certified peers as long as you remain ethical. The Profession of Accounting When most people go to college they think of what major would
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1.0 Introduction According to The Environment Agency in the United Kingdom (2006)‚ Environmental Accounting can be defined as: “The collection‚ analysis and assessment of environmental and financial performance data obtained from business management information systems‚ environmental management and financial accounting systems. The taking of corrective management action to reduce environmental impacts and costs plus‚ where appropriate‚ the external reporting of the environmental and financial
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define accounting. What are the three main characteristics of accounting? Is accounting static or dynamic? Accounting collects‚ analyzes‚ measures and records financial information about an organization and reports that information to stakeholders and decision makers. Accounting has 3 essential characteristics. Accounting is the (1) identification‚ measurement‚ and communication of financial information about economic entities to interested persons. Like social sciences‚ accounting is largely
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