Principles of Accounting Sample Clauses

Principles of Accounting. 8 2.6 Reporting Value of the Property..............................8 2.7
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Principles of Accounting. Managerial Accounting (1)
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Principles of Accounting. Managerial Accounting (1) Course Description: Principles of Accounting provide students with the knowledge that accounting is a process of providing data and information that serves internal and external stakeholders. The second half of this course introduces the fundamentals of management accounting, including manufacturing and cost accounting, budgeting, accounting for managerial decision-making, and financial statement analysis. Students learn how to use accounting information for internal decision-making and planning and control. Students also examine career opportunities and the professional certifications and designations earned by individuals in the accounting profession. Upon completion of this course students will know and be able to: Explain the importance and role of accounting within the broader organizational framework including the regulatory agencies and policies as well as various decision-makers (e.g., managers, investors, and creditors); Demonstrate understanding of business structures and business types; Identify and describe the conceptual framework of accounting and generally accepted accounting principles (GAAP), and explain how the application of GAAP impacts the recording of financial transactions; Apply the steps in the accounting cycle in order to prepare the financial statements; Analyze and interpret financial statements; Identify, distinguish between, and apply internal and external controls; Describe career opportunities in the accounting profession; Explain the objectives of financial reporting and describe generally accepted accounting principles (GAAP); Develop the ability to read an annual report and interpret and analyze the information provided in financial statements; Analyze the financial position (balance sheet) and operating results (income statement) of a company; Apply accounting information to analyze costs and profitability; Identify the sources for financing a company’s operations and analyze the impact on the financial statements of using debt versus equity; Compare the professional certifications in the accounting profession, and the education and experience requirements needed to earn those certifications; and Identify the competencies needed to enter and be successful in the accounting profession. End of Course Assessment Check the assessment instruments that will be used to document student attainment of the course knowledge and skills. Teacher-designed end-of-course assessment School system-designed end-of...
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Principles of Accounting. Except as otherwise provided in this Article I, the Preliminary Settlement Statement was prepared, and the Final Settlement Statement will be prepared,
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Principles of Accounting. 8 ARTICLE 3.
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Principles of Accounting. Unit 1 Introduction to Accounting Chapter 1 You and the World of Accounting Chapter 2 The World of Business and Accounting Unit 2 The Basic Accounting Cycle Chapter 3 Business Transactions and the Accounting Equation Chapter 4 Transactions that Affect Assets, Liabilities, and Owner's Equity Chapter 5 Transactions that Affect Revenue, Expenses, and Withdrawals Chapter 6 Recording Transactions in a General Journal Chapter 7 Posting Journal Entries to General Xxxxxx Accounts Mini Practice Set 1 Xxxxxx.xxx Web Sites/online Accounting software (FrontAccounting or Akaunting) Chapter 8 The Six-Column Work Sheet Chapter 9 Financial Statements for a Sole Proprietorship Chapter 10 Completing the Accounting Cycle for a Sole Proprietorship Chapter 11 Cash Control and Banking Activities
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Related to Principles of Accounting

  • Financial Accounting Practices The Borrower shall, and shall cause each of its Subsidiaries to, make and keep books, records and accounts which, in reasonable detail, accurately and fairly reflect its transactions and dispositions of its assets and maintain a system of internal accounting controls sufficient to provide reasonable assurances that (a) transactions are executed in accordance with management's general or specific authorization, (b) transactions are recorded as necessary (i) to permit preparation of financial statements in conformity with GAAP and (ii) to maintain accountability for assets, (c) access to assets is permitted only in accordance with management's general or specific authorization and (d) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

  • Accounting Principles Where the character or amount of any asset or liability or item of income or expense is required to be determined or any consolidation or other accounting computation is required to be made for the purposes of this Agreement, the same shall be done in accordance with GAAP, to the extent applicable, except where such principles are inconsistent with the requirements of this Agreement.

  • Change in Accounting Principles If, after the date of this Agreement, there shall occur any change in GAAP from those used in the preparation of the financial statements referred to in Section 6.5 hereof and such change shall result in a change in the method of calculation of any financial covenant, standard or term found in this Agreement, either the Borrower or the Required Lenders may by notice to the Lenders and the Borrower, respectively, require that the Lenders and the Borrower negotiate in good faith to amend such covenants, standards, and terms so as equitably to reflect such change in accounting principles, with the desired result being that the criteria for evaluating the financial condition of the Borrower and its Subsidiaries shall be the same as if such change had not been made. No delay by the Borrower or the Required Lenders in requiring such negotiation shall limit their right to so require such a negotiation at any time after such a change in accounting principles. Until any such covenant, standard, or term is amended in accordance with this Section 5.3, financial covenants shall be computed and determined in accordance with GAAP in effect prior to such change in accounting principles. Without limiting the generality of the foregoing, the Borrower shall neither be deemed to be in compliance with any financial covenant hereunder nor out of compliance with any financial covenant hereunder if such state of compliance or noncompliance, as the case may be, would not exist but for the occurrence of a change in accounting principles after the date hereof.

  • Statements of Reconciliation after Change in Accounting Principles If, as a result of any change in accounting principles and policies from those used in the preparation of the Historical Financial Statements, the consolidated financial statements of Holdings and its Subsidiaries delivered pursuant to Section 5.1(b) or 5.1(c) will differ in any material respect from the consolidated financial statements that would have been delivered pursuant to such subdivisions had no such change in accounting principles and policies been made, then, together with the first delivery of such financial statements after such change, one or more statements of reconciliation for all such prior financial statements in form and substance satisfactory to Administrative Agent;

  • Generally Accepted Accounting Principles Wherever in this Agreement reference is made to generally accepted accounting principles, such reference shall be deemed to be the recommendations at the relevant time of the Canadian Institute of Chartered Accountants, or any successor institute, applicable on a consolidated basis (unless otherwise specifically provided herein to be applicable on an unconsolidated basis) as at the date on which a calculation is made or required to be made in accordance with generally accepted accounting principles. Where the character or amount of any asset or liability or item of revenue or expense is required to be determined, or any consolidation or other accounting computation is required to be made for the purpose of this Agreement or any document, such determination or calculation shall, to the extent applicable and except as otherwise specified herein or as otherwise agreed in writing by the parties, be made in accordance with generally accepted accounting principles applied on a consistent basis.

  • Accounting Practices All matters concerning this FuturesAccess Fund’s accounting practices shall be determined by the Sponsor on a fair and equitable basis, and all such determinations shall be final and conclusive as to all Investors. However, the Sponsor shall be under no obligation whatsoever to make any deviations from the allocations set forth in this Article II. In reporting Net Asset Values to Investors and third parties on an interim basis, the Sponsor shall be entitled to accrue fees and payments due at the end of a period as if such fees or payments were due (on a pro rata basis, if appropriate) as of the end of an interim period within such period.

  • Tax Accounting Practices The Tax Return shall be prepared consistently with past Tax accounting practices to the extent permissible under applicable Tax Law.

  • Accounting Practice Except as otherwise provided herein, all Mortgage Loan account records must be maintained according to (a) the Uniform Single Attestation Program for Mortgage Bankers and (b) where applicable, sound and generally accepted accounting practices.

  • Operating Principles The operations of the Bank shall be conducted in accordance with the principles set out below.

  • Governing Principles 1. The implementation of this Memorandum of Understanding shall in all aspects be governed by the Regulation and subsequent amendments thereof.

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