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Database technology may eliminate the need for double-entry accounting Some people believe database technology may eliminate the need for double-entry accounting. This creates three possibilities: (1) the double-entry model will be abandoned (2) the double-entry model will not be …
Database technology may eliminate the need for double-entry accounting Some people believe database technology may eliminate the need for double-entry accounting. This creates three possibilities: (1) the double-entry model will be abandoned (2) the double-entry model will not be …
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Some individuals argue that accountants should focus on producing financial statements and leave the design and production of managerial reports to information systems specialists. What are the advantages and disadvantages of following this advice? To what extent should accountants be …
Accountants should focus on producing financial statements Read more »
Accountants and production of managerial reports Some individuals argue that accountants should focus on producing financial statements and leave the design and production of managerial reports to information systems specialists. What are the advantages and disadvantages of following this advice? …
Advantages and weaknesses of the minimum-cash-balance practice An advantage of maintaining a minimum cash balance is the company now has liquidity to pay bills, order inventory, and fund the payroll. This is especially critical if the business doesn’t have credit …
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Case Study: Accounting Function at Goodwill Industries international Inc. What are some similarities between the type of accounting performed at Goodwill compared to accounting at for-profit companies? The main similarity is that both tend to contribute towards the improvement of …
International Financial Reporting Standards (IFRS) The first topic that I would like to discuss here is International Financial Reporting Standards (IFRS). These are the international standards that provide a common ground to the financial transactions that occur on an international …
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Suppose you are starting a business, Wholly Shirts, to imprint logos on T-shirts. In organizing the business and setting up its accounting records, you take your information to a CPA to prepare financial statements for the bank. Name the organization that governs the majority …
Suppose you are starting a business, Wholly Shirts, to imprint logos on T-shirts Read more »