Accounts Receivable And Increase

Accounts Receivable and Increase
Question 1
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The effect on the accounting equation of the business buying a computer worth $900, paying $450 cash and owing $450 to be paid in 30 days' time is:
Select one:
a. decrease the asset computers, increase the asset cash, decrease the liability accounts payable.
b. increase the asset computers, increase the asset cash, decrease the liability accounts payable.
c. increase the asset computers, decrease the asset cash, increase the liability accounts payable.
d. increase the asset computers, decrease the asset cash, decrease the liability accounts payable.
Question 2
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If only one side of a $100 transaction is ... Show more content on Helpwriting.net ...
decreases assets and increases liabilities.
c. decreases assets and liabilities.
d. decreases assets and equity.
Question 5
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Which of these would be classed as a transaction on credit?
Select one:
a. Payment of salaries.
b. Sale of goods on account.
Question 6
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An example of a personal transaction would be:
Select one:
a. buying an iPad for the owner's children on a company credit card.
b. lunch paid for by the business.
c. an owner buying flowers with their own money.
d. the business hiring a personal assistant.
Question 7
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For the cash account to decrease and the profit to decrease, the transaction occurring could have been a/an:
Select one:
a. agreement with a supplier on the value of the next delivery.
b. purchase of a new printer for the owner's home computer.
c. payment of an electricity bill.
d. repayment of a loan.
Question 9
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An owner pays her private motor vehicle insurance from the business bank account. This is:
Select one:

a. none of the above.
b. a business event.
c. a business transaction.
Question 10
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Evidence that would not be of help in recording a transaction would be:
Select one:
a. an
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Disadvantages Of Account Receivables
Account receivables are used as a type of asset – financing to determine the outstanding invoices or the money owed by the customers. The account
receivables can help finance companies by boosting its cash flows. It focuses on trying to collect bills from customers. The unpaid invoices are also
considered in the account receivables and referred as bad debts. Bad debts are debts that customers are not able to pay either because they are bankrupt.
In account receivables financing also known as factoring, gives the company an amount equal to a reduced value of the unpaid invoices. This type of
financing helps the company to free up the capital that is stuck in unpaid debts. The account receivables financing companies advances 70 to 90 % of
the value of the outstanding invoices, then the factoring company collect the debts and pays the original company the remainder of the amount collected
minus a fee for the services. This ... Show more content on Helpwriting.net ...
Asset based lending is an on–balance sheet technique and typically comes with significant fees. Companies commit the majority of their receivables to
the program and have limited flexibility about which receivables are committed. Interest rates on these loans, as you can imagine, are less than interest
rates on an unsecured loan or line of credit because if the borrower defaults the lender has the ability to seize assets and attempt to recoup their lending
costs. If companies goes bankrupt, companies that cannot meet their financial obligations can either dissolve or reorganize and start anew. Federal laws
provide bankruptcy protection, govern the right to file and have jurisdiction over all bankruptcy cases. State laws determine what company assets are
protected in bankruptcy. A bankruptcy filing immediately halts a company's creditors from debt collection efforts. Collection efforts resume when the
bankruptcy court allows

Confirmation Procedure of Account Receivable
Steps In Confirmation Process
The steps in the process of confirming receivables follow: Step–1. Obtain Aged Schedule of Accounts Receivable
The auditor should obtain an aged schedule of accounts receivable as of the confirmation date. He or she should apply the following procedures to this
schedule:
Determine that totals are correct.
Compare all or a selected sample of account balances with the account balances in the accounts receivable subsidiary ledger.
Investigate credit balances. Step–2. Select Accounts for Confirmation
Auditors have used, and some continue to use, judgment in selecting accounts for confirmation. Statistical sampling methods, however, are ideal for the
selection process.
Whatever method of selection is ... Show more content on Helpwriting.net ...
The confirmation requests always should remain in the auditor's custody or under his or her supervision until mailed. Step–4. Process Responses to
Confirmation Requests
When confirmation replies are received, the auditor should do the following:
[1]. Enter for each account the following:
Date received.
Amount confirmed.
[2]. If the amount confirmed differs from the account balance, the following should be done:
Photocopy confirmation reply.
Give photocopy to client and request that the difference be reconciled and provide documentation for reconciling items.
Review documentation for reconciling items.
If documentation is satisfactory, enter reasons for difference in receivable confirmation schedule.
[3]. If the amount confirmed differs from the account balance and the client cannot satisfactorily reconcile the difference, the auditor should do the
following:
If the difference is small, the auditor may ignore it. If there are a significant number of small differences, however, the auditor should analyze them. If
the analysis of the significant number of small differences indicates a deficiency in the receivable controls, the auditor may have to apply additional
auditing procedures to satisfy himself or herself of the accounts receivable balance.
If the difference is significant, request the client to correspond with the debtor. Make certain the correspondence states that the

Total Accounts Receivable
Bradmark Wholesale
General Supply
ACL Case Study
This paper contains the summary of the details and results of the audit tests on
Bradmark's Revenue and Expenditure Cycles. The audit tests were performed through the ACL Program.
2005
Rachelle Cultura | Trixia Ebol | Christine Fonseca
Mary Rose Samas | Nadaine Tongco
Ross & Specter Co.
October 24, 2012
1 | P a g e
REVENUE CYLCE
Assessment of Internal Controls over the Revenue Cycle
The assessment of Bradmark's internal controls over its revenue cycle procedures were done through the analysis of the processes each department is
undertaking.
For the Sales Department, it is but right that the clerk will seek the approval of the credit manager for customers
with ... Show more content on Helpwriting.net ...
After taking into account the results for these two tests, the should–be balance for the Total Sales of the period was computed to be $5,317,470.36.
Valuation or Allocation
The total Accounts Receivable balance in the records of $4,752,257.70 was verified by setting a filter of
"Remit_Num = 0" and then getting the total amount due. By doing this, only those sales which do not yet have a remittance advice are part of the
accounts receivable. The figure below is the outcome of this procedure.
4 | P a g e
However, if the difference between the total sales and the total cash received (for the period ending December
31, 2004) was computed, then the total Accounts Receivable balance would be $4,578,008.14. This indicates that the Accounts Receivable is misstated
in the financial statements.
Moreover, from the analyse tab and the function "Age", an aging of the Accounts Receivable was performed.
The summary of this analysis can be seen in this figure:
5 | P a g e
It should be noted that based on this test, the allowance for doubtful accounts should be adjusted to reflect the actual accounts, which can be considered
as uncollectible, i.e. those that are already over 90 days. The balance would then be $1,945,870.20.
6 | P a g e
Compared to the current estimation method of the Allowance for Doubtful Accounts of Bradmark, this method of aging the Accounts Receivable is
more appropriate. This also ensures that the

Accounts Receivable and Franklin Company Essay
The transactions completed by Franklin Company during January, its first month of operations, are listed below. Assume that Franklin Company uses
the following journals: Cash Receipts (CR), Cash Payments (CP), Revenue (R), Purchases (P), and General (G). Assume that it uses Accounts
Receivable and Accounts Payable Subsidiary Ledgers as well as a General Ledger. Indicate by letters which journal would be used for each transaction.
Also indicate if the entry requires a posting to a subsidiary ledger.
the following journals: Cash Receipts (CR), Cash Payments (CP), Revenue (R), Purchases (P), and ... Show more content on Helpwriting.net ...
Assume that Franklin Company uses the following journals: Cash Receipts (CR), Cash Payments (CP), Revenue (R), Purchases (P), and General (G).
Assume that it uses Accounts Receivable and Accounts Payable Subsidiary Ledgers as well as a General Ledger. Indicate by letters which journal
would be used for each transaction. Also indicate if the entry requires a posting to a subsidiary ledger.
The transactions completed by Franklin Company during January,

Nvq Bank Account
Continuing with the local merchant I covered in Unit 5. The merchant is a general retail store that sells everything from homeware, home entertainment
such as DVD's and speakers, stationary and small business supplies, plants, sporting items, toys, adult and children's clothes. The store uses physical
barriers, alarms, cameras, store personal for during store hours and external security personal for outside of store hours to protect asset loss from
external theft. For asset protection from internal theft, the store uses cameras and internal staff to monitor other staff to address this. Internal to external
exists including ones in other parts of the building which are staff access only are also alarmed to prevent and deter internal theft. ... Show more content
on Helpwriting.net ...
This multi–person double checking system reduces the risk of employees altering records or signing off on cash counts by themselves for self–interest.
Accounts and Bank Accounts This also applies to staff handling accounts. The staff that work on day to day journal entries and record keeping do not
have access to the firm's bank accounts or bank reconciliation. Bank Accounts are accessed by senior accountants at the head office placing a different
group of people to check bank records and transactions match the accounting system. Authorised Bank Transactions It would be safe to assume that the
head office also has different access levels and not all accounting staff would have access to make payments via the bank system. While I don't know
this side it would be logically as a security mechanism to implement it this way. By implementing and maintain multi–person checking systems,
physical and electronic barriers and only allowing the minimum number of necessary people access to areas, cash and the ability to do certain tasks it
helps ensure the safety of the company's assets. Different employees in the accounts department having checks in place to confirm balances match
ensures that cash and equivalents are

Accounts Receivable and Correct Marks
1
Marks: 5
Which of the following events involves an accrual?
Choose one answer. | a. Recording interest that has been earned but not received | | | b. Recording supplies that have been purchased with cash but not
yet used. | | | c. Recording revenue that has been earned but not yet collected in cash. | | | d. A. and C. | |
Correct
Marks for this submission: 5/5.
Question 2
Marks: 5
Which resource provider typically receives first priority when resources are divided as part of a business 's liquidation?
Choose one answer. | a. stockholders | | | b. owners | | | c. the company 's managers | | | d. creditors | |
Correct
Question 3
Marks: 5
Which of ... Show more content on Helpwriting.net ...
| | | c. Allowance for doubtful accounts. | | | d. The present value of accounts receivable. | |
Correct
Question 3
Marks: 5
The practice of reporting the net realizable value of receivables in the financial statements is commonly called:
Choose one answer. | a. the cash flow method of accounting for bad debts. | | | b. the direct write–off method of accounting for bad debts. | | | c. the
allowance method of accounting for bad debts. | | | d. Both a and b are correct. | |
Correct
Question 4
Marks: 5
What does the accounts receivable turnover ratio measure?
Choose one answer. | a. How quickly the accounts receivable balance increases. | | | b. How quickly inventory turns into accounts receivable. | | | c. How
quickly accounts receivable turn into cash. | | | d. Average balance of accounts receivables. | |
Correct
Question 5
Marks: 5
Which of the following businesses would most likely have the longest operating cycle?
Choose one answer. | a. A national pharmacy chain. | | | b. A discount store. | | | c. A producer of wine. | | | d. A chain of pizza restaurants. | |
Incorrect
1
Marks: 5
What is the name used for the type of secured bond that requires a pledge of a designated piece of property in case of default?
Choose

Health Savings Account Essay
You might be wondering what a Health Savings Account is and whether or not it can be used in conjunction with Medicare. A health savings account or
HSA is an account that was created for employees with a high–deductible health plan (HDHPS). The funds that are contributed to an HSA do not get
taxed when put into the account or when withdrawn as long as the funds are used to pay for any qualified medical expenses that you incur.
It is possible that your HSA will be overseen by your employer, but it can also be looked after by your bank, insurance company or credit union as well.
If you will be eligible for Medicare soon and you have an HSA, you need to understand how enrolling in Medicare will affect your account and how
you can use it.
How Do HSAs Work with High–Deductible Health Plans? ... Show more content on Helpwriting.net ...
Once the deductible is reached, the HDHP will cover your costs for the rest of the year.
Using an HSAAccount with a High–Deductible Health Plan
When you use an HSA account with a high–deductible health plan there are a few things you need to keep in mind. Once you enroll in Medicare it will
affect how you are able to use your HSA. For example, you can't be enrolled in Medicare Part A and/or Part B and still contribute pre–tax dollars to
your HSA.
In order to keep contributing to your HSA, you are not able to have any other type of health insurance other than an HDHP. On the month you are first
eligible for Medicare, your account should be changed over to zero dollars a month in order to avoid any tax penalties.
You may be able to still withdraw money, however, from your HSA once you enroll in Medicare in order to help pay for any medical expenses you may
incur. These expenses can include deductibles, copayments, premiums and coinsurances. If you use the account for any qualified medical expense,
these funds will be

Control Accounts Act : Mini Trial Balances
A control account is a summary account in the general ledger. This account comprises of combined totals for transactions that are discretely stored in
subsidiary–level ledger accounts. It's called a control account because it controls a section of the ledger. For instance a sales ledger control account
controls the sales ledger while a purchase ledger controls the purchase ledger. (Accountingtools.com, 2015)
Control accounts act as mini trial balances since they are summary accounts hence they are used to summarize the accounts receivable and accounts
payable because these areas contain a huge volume of transactions hence need to be divided into subsidiary ledgers rather than being mixed–up in the
general ledger which contains too much ... Show more content on Helpwriting.net ...
Responsibilities should be divided whereby the person keeping the sales or purchase ledgers will not have access to the control account in the general
ledger and another person posting entries to the accounts will act as a check on a different person whose job is to post entries to the sales and purchase
ledger accounts.
The control accounts can help identify ledgers in which errors have been made when there is a difference in a trial balance. It assists in the location of
errors where posting to the control accounts are made daily or weekly or even monthly. However if a clerk fails to record an invoice or a payment in a
personal account or makes a transaction error, it would be a difficult task to locate the error at the end of a year given the fact that many transactions
have been made during the year. By using the control account, a contrast with the individual balances in the sales or purchase ledger can be completed
in a week or a day of the month and the error can be detected much more quickly.
The use of control accounts makes it much quicker and simpler when the debtors and creditors figures can be determined quickly for construction of the
trial balance than having to balance off each individual personal account in the sales and purchases ledgers which is quite time saving.
ANSWER 1
(B)
A control account is so called because it controls a section

Current Account On National Economic Development
Current Account Sustainability
"Does a Current Account deficit Matter?"
Political Science 412: International Political Economy
The Pennsylvania State University
Yun Shik Park
07.28.2015
Current Account Sustainability
Does a current account deficit matter?
Yun Shik Park
Abstract: Sometimes a country will export their goods to another country, rather than importing them and it causes current account deficits. The
purpose of this paper is to examine the role of current account in national economic development. As the world becomes more interdependent and
globalized, we cannot ignore the importance of a country's income and expenditure records–the current account. The current account is the point at
which international economics collide with political reality. When countries hold large deficits, businesses, trade unions, politicians, and countries are
often quick to blame their opponents and make changes regarding unfair practices.
Some economists argue that "A large current account deficit is not a cause of concern if the fiscal accounted are balanced," – Lawson's Doctrine.
Therefore, we don't need to worry about the current account. However, the paper researched this matter for a more in–depth understanding of the
economic concept of current account deficits.
I. Introduction
The current account balance is a part of the balance of payments. A country's current account balance provides a measure of how much the country's
position in international wealth

Managing Accounts Receivable, An Essential Part Of...
Financial managers have typically been involved in the high–level decision making regarding the financial health of a company. However, the function
of the financial manager has changed over time to include more detailed aspects of the company's cash flow, including accounts receivable. Accounts
receivable is vital to a company's cash flow operations, if you cannot collect the money from your customers, you cannot pay for materials, expenses, or
employees. If your customers are not paying on time, or not paying whatsoever, a business will inevitably lack the cash flow it requires to pay its own
expenses. Consequently, it is essential for companies to have comprehensive policies on the managing of their accounts receivable because it has
proven to be an essential part of business activities. The management of accounts receivable has a direct influence on shareholder value, on the
capability of a company to meet its short–term obligations, such as, paying expenses and creditors. This paper will address how to effectively manage
accounts receivable, by use of a credit policy and why it so critical.
Credit policy refers to procedures that outline how the company will determine which customers are extended credit and how much, the credit terms,
the thresholds to establish on unpaid balances and how to manage delinquent accounts. A company should have a comprehensive, practical, and reliable
credit policy established, prior to offering credit to its customers.
The amount

The Role Of Current Account Deficits On Its Sustainability
The world economy has witnessed some of the biggest crises throughout the course of its history, of which failure to predict in the earlier days and the
severe consequences due to that have urged many economists in number of think tanks, financial institutions, and governments to develop effective
"early–warning" models focusing on numerous predictors (Edwards, 2001) including current account deficits. Noticeably, the role of the deficits behind
major financial collapses has been in the centre of great controversy. On one hand, some scholars have argued that current account deficits should be
seen as a threat towards the stability of the world economy and thus should be properly dealt with while on the other hand, the view that significant ...
Show more content on Helpwriting.net ...
From this point of view, a deficit is thusly the point where the value of imports exceeds that of exports, in other words, the country is importing more
than exporting.
Another definition of the current account balance indicates that it is the "difference between the national (both public and private) savings and
investment" (Ghosh and Ramakrishnan, 2006). Hence, it can be inferred that a deficit takes place when there is a higher level of investment compared
to the level of savings in the state. In particular, this type of behaviour is apparent in countries which enjoy increasing GDP growth rate, leading to the
boom in consumption power.
The third viewpoint concerns with intertemporal trade, or to put it simply, "the exchange of goods today for goods tomorrow" (Corden, 2007). In this
case, a country would be buying goods today (running a deficit) and selling goods in the future (running a surplus) through financial claims such as
bonds, equities and so on.
Current account deficit – Is it persistent?
There have been implicit as well as explicit arguments about the persistence of the current account deficits, some of which have agreed that it is just a
temporary phenomenon and cannot be sustained whilst others evidently illustrated that it could be sustainably maintained at a level which is consistent
with that of solvency (Milesi–Ferretti and Razin, 1996 cited in Edwards, 2001).
For the latter, US is exemplary model of how

Aging Schedule of Accounts Receivable
ANSWERS TO QUESTIONS: 1. Table 1: Aging Schedule of Accounts Receivable AGE OF ACCOUNT | BALANCE OUTSTANDING | % OF
TOTAL BALANCE OUTSTANDING | 0–15 days | $ 20,000 | 19.59 % | 16–30 days | 30,000 | 29.39 | 31–60 days | 40,000 | 39.19 | 61–90 days | 10,000
| 9.80 | Beyond 90 days | 2,071 | 2.03 | TOTAL | $ 102,071 | 100.0 % |
2. To evaluate the credit quality of Aero–Strip's accounts receivables portfolio, we turn to their average collection period (ACP) and aging of accounts
receivable. Knowing the ACP enables the firm to determine whether there is a general problem with the accounts receivable. The firm has credit terms
of 2/10, net 30 so it would expect its ACP to equal about 30 days. Calculating the ACP of the ... Show more content on Helpwriting.net ...
If Aero–Strip decides to sell its new invoices to a factor, the total financing available for 90 days is $ 35,200. CUSTOMER | AMOUNT | Ace Aviation,
Inc.Express ShuttleLomax CharterMiller Aerial SurveyingPointers Aviation, Inc. | $ 7,290 18,554 2,497 13,121 8,532 | TOTAL | $ 50,000 |
$ 50,000– ($50,000 x 80%)= $ 40,000 Less: reserve ($40,000 x 10%) 4,000 Commission ($40,000 x 2%) 800 TOTAL FINANCING $ 35,200
6. Effective Annual Rate=Total interest paid+Toal fees paidUsabel funds×36590
a. i=9%36590=2.22%
Total interest paid=2.22% × $58,668.49=$ 1,301.96
EAR= $ 1,301.96$58,668.49× 36590=9% b. i= 8%36590=1.97%
Total interest paid=1.97% ×$35,200=$694.36
EAR= $ 694.36+$800$35,200×36590=17.22%
The effective annual rate for pledging accounts receivable and factoring accounts receivable is 9% and 17.22%, respectively. 7. If I were to represent
the commercial bank I would tell Howard that pledging his accounts receivable is better than factoring because there will be no transfer of the
ownership of the accounts receivable and customer remittances will go directly to the company. In addition, hiring a credit manager would be

Verifying And Developing Accounts Receivables Accounting...
A Project Report
On
Customizing and Developing Accounts Receivables in Accounting Software developed using salesforce
Submitted to
Amity University Uttar Pradesh
In partial fulfillment of Industrial Training of the degree of
Bachelor of Technology
In
Computer Science and Engineering
By
Surbhi Singh
Under the guidance of
Mrs. Monika Bhalla
DEPARTMENT OF COMPUTER SCEINCE AND ENGINEERING
AMITY SCHOOL OF ENGINEERING AND TECHNOLOGY
AMITY UNIVERSITY UTTAR PRADESH
Declaration
I, Surbhi Singh of B.Tech (Computer Science and Technology) hereby declare that the project work entitled "Customizing and Developing Accounts
Receivables in Accounting Software developed using salesforce" submitted to the Amity University Uttar Pradesh, is a record of an original work done
by me under the guidance of Mr. Ashish Tomar, Director, Versatile Knowledge Consultants Private Limited(Jaipur), and this project work has not
performed the basis for the award of any Degree or diploma/ associate ship / fellowship and similar project if any.
NOIDA
DATE: Surbhi singh
Certificate
On the basis of declaration submitted by Surbhi Singh of B.Tech (Computer Science and Technology), I hereby certify that the project titled
Customizing and Developing Accounts Receivables in Accounting Software developed using salesforce which is submitted to Department of computer
Science and Technology, Amity School of engineering and

The Pros And Cons Of Current Account Deficit
The current account is an important component of the balance of trade system of our country. It is a measurement of a country's trade where the value
of the goods and services it exports. A current account deficit represents negative sales abroad. A country undergoing current account deficit results in
foreign liabilities and debt with the rest of the world. This further leads to payback of foreign current account reserves. Current Account includes
imports and exports of goods and services and unilateral transfers of goods and services. Current account deficit in simple words is the economic
situation when the total imports are more than the exports. This means that the country is importing more than exporting which requires the country to
pay for the goods and services it imports. This leads to an unfavorable economic situation. The present record is a ... Show more content on
Helpwriting.net ...
A positive current record adjust demonstrates that the country is a net moneylender to whatever is left of the world, while a negative current record
adjusts shows that it is a net borrower from whatever is left of the world. A present record surplus builds a country's net remote resources by the
measure of the overflow, and a present record shortfall diminishes it by that sum. A nation's adjust of current account is the net or distinction between
the nation's exports of products and enterprises and its imports of merchandise and ventures, disregarding all money related current accounts,
speculations, and different segments, over a given timeframe. A nation is said to have a current account surplus if its export surpass its imports and a
current account deficit if its imports surpass its current account. Positive net deals abroad, by and large, adds to a present record overflow; negative net
deals abroad, for the most part, adds to a present record

Disadvantages Of Flexible Saving Account
Flexible saving Accounts (FSAs) are a kind of cafeteria plan letting employees to choose cash and specified welfares by the method of a payroll
inference that they designate each year. Such plan enables the company to expand benefit selections on a tax–advantaged foundation to employees with
negligible extra out–of–pocket expenses. Flexible spending accounts provides several advantages to Blue Post Company and the employees. Though,
there are some difficulties to be aware of. The most common one is the "utilize it or lose it" characteristic. Any amounts donated to an account besides
not consumed during the span of the year are lost to the Blue Post Company. FSA can be set up as compensation degeneration plans which are financed
totally with representative commitments from their pay checks. The duty law restricts what amount can be contributed every year by representatives to
their adaptable spending accounts (Johnson et al, 2013). The following are the types of ... Show more content on Helpwriting.net ...
Without this sort of arrangement, the employees may need to think of cash for co–pays when they visit the specialist, remedy costs, and numerous other
little expenses. Nonetheless, by utilizing a Flexible Saving Account, the employees can maintain a strategic distance from a considerable measure of
these little costs and secure their financial plan (John et al., 2014). Another point of preference of this sort of arrangement is that they can pay for over–
the–counter medications. There is a rundown of particular over–the–counter medications that can be paid for with assets from the Flexible Saving
Account. Numerous different sorts of health arrangements do not cover over–the–counter medications in any structure. This furnishes employees with a
considerable measure of adaptability by the way they can utilize the assets from their Flexible Saving Account (John et al.,

Account
SCHEDULE B (Form 1040A or 1040) Interest and Ordinary Dividends ▶ OMB No. 1545–0074 Attach to Form 1040A or 1040. Department of the
Treasury Internal Revenue Service (99) ▶ Information about Schedule B (Form 1040A or 1040) and its instructions is at www.irs.gov/scheduleb.
Name(s) shown on return Attachment Sequence No. 08 Your social security number 2013 Amount Part I Interest (See instructions on back and the
instructions for Form 1040A, or Form 1040, line 8a.) Note. If you received a Form 1099–INT, Form 1099–OID, or substitute statement from a
brokerage firm, list the firm's name as the payer and enter the total interest shown on that form. 1 List name of payer. If any interest is from a seller–
financed ... Show more content on Helpwriting.net ...
Financial account located in a foreign country. A financial account is located in a foreign country if the account is physically located outside of the
United States. For example, an account maintained with a branch of a United States bank that is physically located outside of the United States is a
foreign financial account. An account maintained with a branch of a foreign bank that is physically located in the United States is not a foreign financial
account. Signature authority. Signature authority is the authority of an individual (alone or in conjunction with another individual) to control the
disposition of assets held in a foreign financial account by direct communication (whether in writing or otherwise) to the bank or other financial
institution that maintains the financial account. See the FinCEN Form 114 instructions for exceptions. Do not consider the exceptions relating to
signature authority in answering Question 1 on line 7a. Other definitions. For definitions of "financial interest," "United States," and other relevant
terms, see the instructions for FinCEN Form 114. Line 7a–Question 2. See FinCEN Form 114 and its instructions to determine whether you must file
the form. Check the "Yes" box if you are required to file the form; check the "No" box if

Should Couples Have Separate Bank Accounts?
Kw: couples have separate bank accounts
Meta: You are thinking about marriage and just had the money talk. Now you need to know: Should couples have separate bank accounts?
There is no clear cut answer to, "Should couples have separate bank accounts?" When it comes down to it, it is all about what works for the couple.
Other than infidelity, finance and arguments about money are one of the biggest reasons for getting a divorce. Because of this, it is always best to make
a decision that leaves both partners happy.
Some couples have separate bank accounts. Others find that it is too difficult to figure out who withdrew from the account and if there is money left.
There are considerations to think about like your differing salary levels, spending habits and banking preferences. In many cases, couples have separate
bank accounts because it makes their lives easier. If your money is held in separate accounts, you do not have to argue over who withdrew too much
from the account.
There are several options that you can consider. You could have separate checking and savings accounts so that both partners are completely
independent. On the opposite side of the spectrum, you could have joint checking and savings accounts. An in–between option would be to have some
separate accounts as well as a joint account. This last option may be best because it allows for you to pay your bills from a joint account and save for
mutual goals while still retaining some of your independence.
Have You Talked About Money Matters?
The main goal should be to talk to your partner about your personal savings goals and budget. When couples have separate bank accounts, there is a
tendency to treat finances as an individual matter. As long as you are together, your spending or saving habits will impact each other. Because of this, it
is important to have an honest talk about your monetary needs and goals. You need to make sure that you are working toward the same goals as you
handle your joint expenses.
Possibly the best option is to choose to have one or more joint accounts while also having your independent accounts. You don't want to text

The Health Savings Accounts By Linda J. Blumberg
The health savings accounts were created in 2003, and the main purpose was to cover out of pocket medical expenses during the year and to obtain
wellness and greater quality of care. To open health saving account, the person should buy an inexpensive health insurance plan which usually has a
high deductible. Therefore, the Health saving account provides the opportunity to cover out of pocket costs. The American Benefits Council, from
"Statement before the Subcommittee on Health of the House Committee on Ways and Means" believes that health savings accounts are working
successfully and help many millions of Americans. In contrast, Linda J. Blumberg, from "Testimony before the Subcommittee on Health of the House
Committee on Ways and Means" ... Show more content on Helpwriting.net ...
Most recent data shows that people benefit from health saving accounts and that they have sufficient amount on the account to cover out of pocket
expenses. Furthermore, data indicates that health saving accounts are not being used as tax shelters by people with high income. It reveals that majority
of individuals who has an account has incomes below $60,000. The most important that the same survey establishes that 41% of health saving accounts
purchasers did not have medical insurance in the past six months period. Many people point out that money on those accounts may be used for many
reasons. However, the early data showed that customers of the accounts are using their HSAs as proposed – mostly to cover qualified medical costs.
The council has confidence in those imposing third–party substantiation requirements on HSAs will increase expenses and limit Americans'
opportunities for health care coverage. These additional costs will limit the attractiveness and efficacy of health savings accounts. Linda J. Blumberg
has a diverse opinion about health savings accounts. She demonstrates that those accounts could be beneficial only for high–income customers. She
states that "The GAO analysis found that the average adjusted gross income of HAS participants was about $139,000 in 2005, compared with $57,000
for all other

Accounts Receivable and Information
chapter 1
accounting information systems: An overview
Suggested Answers to Discussion Questions
1.1 The value of information is the difference between the benefits realized from using that information and the costs of producing it. Would you, or
any organization, ever produce information if its expected costs exceeded its benefits? If so, provide some examples. If not, why not? Most
organizations produce information only if its value exceeds its cost. However, there are two situations where information may be produced even if its
cost exceeds its value. a. It is often difficult to estimate accurately the value of information and the cost of producing it. Therefore, organizations may
produce information that they expect ... Show more content on Helpwriting.net ...
While this active learning activity takes more time than a lecture does, it drives the point home much better than a lecture would. It also keeps the
students more engaged in the material.
1.4 How do an organization's business processes and lines of business affect the design of its AIS? Give several examples of how differences among
organizations are reflected in their AIS. An organization's AIS must reflect its business processes and its line of business. For example: * Manufacturing
companies will need a set of procedures and documents for the production cycle; non–manufacturing companies do not. * Government agencies need
procedures to track separately all inflows and outflows from various funds, to ensure that legal requirements about the use of specific funds are
followed. * Financial institutions do not need extensive inventory control systems. * Passenger service companies (e.g., airlines, bus, and trains)
generally receive payments in advance of providing services. Therefore, extensive billing and accounts receivable procedures are not needed; instead,
they must develop procedures to account for prepaid revenue. * Construction firms typically receive payments at regular intervals, based on the
percentage of work completed. Thus, their revenue cycles must be designed to track carefully all work performed and the

What Is MAHINDRA 2.4 Accounts Receivables?
5.2.2.1.4 Accounts Receivable Turnover
Net Sales Accounts Receivables Accounts Receivable Turnover
TATA 36,294.74 1,114.48 32.6
MAHINDRA 38,945.42 2,558.03 15.2
5.2.2.1.5 Collection Period
Period (Days) Accounts Receivable Turnover Collection Period (Days)
TATA 365 32.57 11
MAHINDRA 365 15.22 24
5.2.2.1.6 Inventory Turnover
Cost of Sales Inventory Inventory Turnover
TATA 25,922.90 4,802.08 5.4
MAHINDRA 27,854.49 2,437.57 11.4
5.2.2.1.7 Conversion Period
Period Inventory Turnover Conversion Period
TATA 365.00 5.40 67.6
MAHINDRA 365.00 11.43 31.9
5.2.2.2 Long Term
5.2.2.2.1 Total Debt to Total Capital
Total Debt Total Capital Total Debt to Total Capital
TATA 20,080.97 27,181.55 0.74
MAHINDRA 2,620.38 21,769.22 0.12
5.2.2.2.2 Long Term Debt ... Show more content on Helpwriting.net ...
But the real reflection of the performance of the management lies in the Operating profit margin (OPM) and in this case M&M has done fairly well and
their OPM for FY2014–15 is similar to their last years OPM. Whereas Tata Motors has increased their non–operating expense by spending to the tune
of 4K crore on R&D (for Jaguar and Land Rover) and has hence garnered losses for FY 2014–15 (OPM: TM –5.4% M&M 10.4%). Although

Design a Proposal for Appropriate Controls to Cover Cash,...
Controls for Outflows
ACC/544
November 12, 2012
Controls for Outflows
Small, midsized, and large businesses need effective controls to ensure that the business has the lowest risk rate possible. The lower the risk, the less
likely that fraud would occur. In this analysis, Learning Team B will provide a proposal for appropriate controls to cover cash, sales, accounts
receivable, inventory, and production. The team will discuss some prevention techniques to reduce these risks and make recommendations in areas that
will help controls within the organization.
Cash Controls
Internal controls for cash is essential to ensure that transactions are properly recorded, fraud risk is managed, and management have given the proper ...
The threats could cost the business customers and money which will reflect on the financial statements. Management should stress the importance of
these controls and make sure they are being upheld with monitoring and evaluation.
Accounts Receivable Controls
One of the main assets of an organization is the accounts receivable department. It is a vital part of the organization. The information collected from
start to the complete of the accounts receivable cycle is important in making sure every step was followed according to the proper procedures made by
the organization. Setting up new customers in the database system correctly is important when the credit and billing process takes place. When
customer orders are made on the customer's account proper authorization is needed to safeguard unauthorized orders and the ability to pay for good
received (Louwers, Ramsay, Sinason, & Strawser, 2007).
The separation of duties is significant to ensuring that not the same person is issuing credit and billing the customer. Once the goods or services has
been received and verified for each customer the invoice can be printed. Distributing the monthly statements for the customer accounts showing what
activity was taken during the month will help discover discrepancies if there are any made. The customer will know if any unauthorized activity was
made on the account and notify the organization
Inventory

Account Transfers And Uses Of A Fraud System
o Account Transfers– movement of funds between internal accounts o ACH (Automated Clearing House) o Approval and Authentication– wire and
ACH payments are programmed to require one or more approval to maximize fraud protection o Balance Reporting– displays both prior and current
day balances and activities o Business Dashboard– provides a financial snapshot of the user account o Check Service– check inquiries and stop
payment orders o Controlled Disbursement Reporting– beginning of the day notification of total require funds for the day o Import and Export–
companies are enabled to add payment information to the system by importing files from local or network drive. They can also export ACH and wire
information in several formats o System ... Show more content on Helpwriting.net ...
Get their first and last name, email and phone number. If TMO could not receive much information, let the potential customer know TMA will send the
client a questionnaire. o Prepare a proposal/ pro forma cost analysis and discuss with RM on alternative pricing scenarios o After determining the client
is suitable for Treasury Internet Banking, determine the CSA (Company System Administrator). There needs to be at least 2 CSA for security reason.
CSAs can add/remove user and determine who has access to which feature. o Prepare package for implementation and archive client executed
documents submitted with enrollment forms. 3.4.2 Documentation Package: TMO/TMA will receive complete the Treasury Internet Banking package
and will compile all required documents for implementation. Document packages may vary based upon the of enrollment but should generally include:
o ACH Origination Specification (if applicable) o Addendum to Treasury Management Master Services Agreement: Third Party ACH Sender (if
applicable) o ACH Due Diligence Worksheet (if applicable) o ACH Maintenance Coversheet (if applicable) o E–Statement Enrollment: Alternative
Delivery

Individual Retirement Accounts: Why Bother? Essay
Individual Retirement Accounts: Why Bother?
Outline
Thesis: When planning for retirement, Individual Retirement Accounts offer several benefits; however, careful planning is essential to ensure that: upon
retirement there is an adequate amount of money saved, that the heirs to the IRA are chosen carefully, and that unnecessary taxes and penalties are
avoided.
I. Upon retirement there is an adequate amount of money saved.
A. How much money necessary to retire?
1. Social Security verses retirement.
2. Savings Accounts verses retirement.
3. Advantages of starting an IRA early.
II. Careful selection of the heirs to the Individual Retirement Account.
A. Advantage of leaving IRA to spouse
1. Special rights as a spouse. ... Show more content on Helpwriting.net ...
Thus, regular savings accounts are not a practical method to save for retirement; however,
IRA's offer deferred taxes on the interest earned until the money is withdrawn from the account. Therefore for a given amount of money, there is a
considerable advantage when saving in an IRA. For example, according to Heady: if you were to save $2000 dollars a year at 6% for 30 years under the
terms of a regular savings account, the total earnings would be approximately $120,900 after paying taxes; however, if you were to shelter $2000 a year
at 6% in an
Individual Retirement Account that amount would increase by $48,000 dollars to a total of $168,000 because of the tax–deferred feature (60).
Using this example, the tax deferred feature of an IRA is easily recognized as having a considerable edge over regular savings plans.
Another advantage to consider when planning an IRA is to start the account as early in life as possible. It is obviously an advantage to use the program
that is going to give the best overall return; however, the advantage of starting early should not be taken lightly either. As with all savings plans, a key
factor in the final results is the overall length of time that has been exhausted investing into the account. People often think that there is an age
requirement to start an IRA; however, this is not the case. There are several
Banks that will even allow teenagers

Type of Bank Accounts
Survey of Various types of Bank Accounts, rate of interest offered
Mr. Pinto (name changed on request) of Axis Bank Limited of Nerul Branch was very co–operative when I visited their branch and introduced myself
as a 10th Std. student of Ryan International School, Nerul and inform my purpose of visit of carrying out a survey on various types of bank accounts
available and commonly used in India.
He offered me a place to sit and called for water and request to give him some time to complete his urgent in–hand work. Since the day was Saturday
hence visibly the no. of public was less. After half an hour, he turned up, excuse for keep me waiting and then first go thru the paper containing Project
Topics. After going thru the entire paper he ... Show more content on Helpwriting.net ...
The account has an average quarterly balance of Rs. 2500/– for branches in Urban / Metro / Semi Urban areas and average quarterly balance will be Rs.
1000/– for branches in Rural areas.
The Average Quarterly Balance shall be NIL if a Fixed Deposit of Rs 25,000/– or Recurring Deposit of Rs. 2000/– per month is maintained. The fixed
deposit should be for a minimum period of 6 months and the recurring deposit should be for a minimum period of 12 months.
Free personalized cheque book.
For Children below the age of 12 years, the account is to be operated by the guardian on behalf of the minor. Free ATM Card with a daily withdrawal
limit of Rs 1500/– will be issued in the name of the guardian.
Visa Classic Debit Card for children above the age of 12 years will be offered at Issuance Fee of Rs. 95/– and with annual fee of Rs. 100/–.
The child of age 12 years and above can also opt for an Image debit card with his / her own attractive picture or any other photo they choose.
Automated Facility for transferring funds to the child?s account from the parent?s account on a monthly basis.
Free Internet banking facility : The idea is to make the child internet savvy and expose them to the online banking environment.
Online forums with interactive tutorials and games about money.
Free SMS Banking.
Free monthly e–statements / Quarterly

Bank of Baroda Account Opening Form for Individuals
Bank of Baroda
ACCOUNT OPENING FORM FOR INDIVIDUALS
Branch:
Account No.
F. No.–401
Y Y Y
_________________________________________________
Date:
Branch ALPHA
D
D
M
M
Y
Scheme Code
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
I/We request you to open my/our deposit account with your branch/bank as under: (Tick (√) relevant type of account)
Type of Account Scheme Name Type of Account Scheme Name Savings Bank A/c Term Deposit A/c Current A/c Other A/c FULL NAME, in
CAPITAL Letters (In the order of first, middle and last name, leaving a space between words)
M/F
1
2 3
Date of Birth (dd/mm/yyyy) PAN (if not available, please attach Form 60/61) ... Show more content on Helpwriting.net ...
[ ] I/We wish to be informed about the various features/ products and promotional offers made by the Bank from time to time. [ ] Please do not call/
contact me/us for various features/ products and promotional offers made by the Bank from time to time. Please issue Multi–city / Normal cheque book
and recover charges from my/our account as per norms of the bank (Give Option) Account will be operated and balance along with interest payable as
per operational instructions given above. I shall represent the said minor in all future transactions of any description in the above account until the said
minor attains majority. I will indemnify the Bank against the claim of the above minor of any withdrawal/transactions made by me in his/her account. I
/ We understand that in the event of the death of the depositor(s), premature termination of term deposit would be allowed without any penal charges to
the claimant(s) after following the due procedure. I / We also agree to maintain the minimum / quarterly average balance which the Bank may prescribe
as the minimum / quarterly average balance to be maintained to avail the facilities and agree to pay the charges if minimum / quarterly average balance
is not maintained and any other

Reflective Account On Account
I have assisted in yearend in all my previous roles. I was involved in preparing financial statements in my previous role as Assistant Financial
Accountant. I was responsible to finalise figures for revenue and input them on profit and loss accounts. I was also responsible for calculating
provisions figures and input them on Balance sheet. I was also required to review full financial statements to check for any errors and ensure additional
notes coincide with figures in financial statements. I also reviewed backing documents for journals and workings for assertions in financial statements
before presenting them to auditors for external audit. I was also involved in stock valuation process to determine the final figure for inventory.
My current

Oc 360 Account
The unique deposit product that OCBC offers is the OCBC 360 account. It is basically a deposit account that pays bonus interests to depositor when
they complete any or all of the different criteria that are being set by them. The criteria includes crediting salary through GIRO, paying of bills through
online or GIRO, save or increase your account balances, invest with OCBC and spend using your OCBC credit card. Different interest rates are being
issued depending on the criteria that are being met. As a result, there are 2 types of interests that a depositor can receive if they were to open a 360
account with them; which are the base interest and bonus interest. The main purpose of OCBC setting up a 360 account is not only to meet customer's

Fdi Inflow, Current Account Balance, Inflation and...
Masters of Science (Banking)
UUM–IBBM
WBB 6013: SEMINAR IN BANKING
FDI Inflow, Current Account Balance, Inflation And Interest Rate: How Do They Impact The Malaysian Economy?
By
Siva Kumar Kandiah (Matric No: 89306)
___________________________________________________________
Abstract
This article seeks to find which of the macroeconomic variables among FDI inflow, current account balance, inflation and interest rate play a significant
role in economic growth in Malaysia using the SPSS Regression method for a time period of 14 years from 1995 to 2008 (Oct). The results of the
research indicated that FDI and inflation are not significantly related to economic growth in Malaysia during the period of study. However, CA ... Show
more content on Helpwriting.net ...
In fact, FDI is said to be the most important contributing factor for Malaysia's economic performance. The early beginnings of luring foreign investors
to Malaysian soil started with the introduction of the Investment Incentives Act 1968, and followed by the establishment of the Free Trade Zones
(FTZs) during the Second Malaysia Plan (1971–75). Since then, Malaysia has attracted a large portion of the investment dollar that flowed into Asia. In
1995, for example, Malaysia was the second largest FDI recipient among Asian economies at US$ 5.8 billion.
Malaysia recorded inward FDI of USD 7.3 billion and USD 6.3 billion in 1996 and 1997 respectively. The lower figures in 1997 may be attributed to
the lack of confidence as a result of the Asian financial crisis but by 1998, figures indicate that investor confidence had improved. Malaysia's highest
FDI inflow was recorded in 2007 when the amount surged to USD 8.4 billion from USD 6.0 billion in 2006.
FDIs are private–sector investments that are made by a company into a foreign country. Foreign direct investments create a strong demand for a local
currency and help boost the economy. With money coming into a country, strong foreign direct investment is one way governments can finance current
account deficits. However, just as funds flow in, they also can flow out,

Leveraging Accounts Receivable
Accounts receivable represent the money that keeps your business afloat. When you issue an invoice, you have made a sale. When you get an invoice
payment, you have cash flowing into your accounts. When your accounts receivable file expands, your business is growing.
The down side is that outstanding accounts receivable also represent money that you could be using for other things, like payroll or increasing
inventory. Fortunately, you can free up a good deal of that money by using accounts receivable factoring.
Tips for Leveraging Accounts Receivable Factoring
Accounts receivable factoring is one way to free up cash to get through cash flow crunches or to expand your business. Making the most of factoring
starts with being smart about customer ... Show more content on Helpwriting.net ...
You may have had a customer for several years who paid in good order. But, what you may not know is that customer may have a very poor credit
history with every other creditor. Who knows when that bad credit payment history will extend to you? Don't let sentimentality blind you to potential
problems.
Use credit limits for new customers.
When you decide to extend credit to a new customer, use credit limits at first. This lets you get a solid picture of their payment habits before extending
further credit. You should be up front about the credit terms and limits. Also provide information on how they can work up to better terms and limits.
Build a strong relationship with each customer.
When you build a strong, ongoing relationship with a customer, there is a personal connection made. And it is less likely that a customer is going to do
something to jeopardize a close business relationship.
You need to know the people behind your customer's logo. Follow them on social media. Send emails just to check in and see how things are going.
Make note of birthdays and anniversaries. Show them that you care.
Use accounts receivable factoring wisely.
Invoice factoring allows you to get cash out of your outstanding invoices so that you can do what you need to do. It is great for solving a temporary
cash flow

Tackling Current Account Deficit in India
TACKLING CURRENT ACCOUNT DEFICIT IN INDIA
INTRODUCTION
There has been a sharp increase in the Current Account Deficit in Indian economy. In previous years the current account deficit increased moderate rate
but in the fiscal year of 2011–12 there was sharp increase in current account deficit, marking a rise to nearly 4.2 per cent of GDP. High current account
deficit has always posed serious implications for an economy and therefore for India it is a matter of concern. This research paper deals with the impact
of current account deficit on the Indian economy and analyzes the causes and measures to tackle current account deficit. The researcher has studies the
current account deficit. This research paper has been divided into 5 sections. ... Show more content on Helpwriting.net ...
It is usually measured as percentage of GDP.5
1 2
T.R.Jain and V.K.Ohri, INTRODUCTORY MICROECONOMICS AND MACROECONOMICS, 275, 6th edn.(2008). Id. 3 T.R.Jain and V.K.Ohri,
Supra note 1, 276–277. 4 Id. 5 A.Ghosh and U.Ramakrishnan, CADs: Is There a Problem?, (March 28, 2012), INTERNATIONAL MONETARY
FUND, available at: http://www.imf.org/external/pubs/ft/fandd/basics/current.htm (last visited on December 29, 2012).
NATIONAL LAW SCHOOL OF INDIA UNIVERSITY
Page 3
TACKLING CURRENT ACCOUNT DEFICIT IN INDIA Causes and cures of CAD
Deficit in current account depends on many factors and it can be cure. There are measures which can correct the problem of CAD.
Fiscal deficit – When there is huge development expenditure by the government, demand of domestic goods as well as demand of imported goods
increases and causes deficit.6 So by reducing the fiscal deficit, CAD can be improved. They have a positive relation. For instance in the following
graph, as the fiscal account deficit is increasing in the US, it has led to a current account deficit.7
Figure 1
Inflation in the domestic country can led to increase in imports of essential goods. Essentially imports become more desirable in case of and make
exports less desirable because of the increase in the price of domestically produced goods. This drives the economy
6
REPORT OF THE COMMITTEE ON ROADMAP FOR FISCAL CONSOLIDATION, (September 2012), Available

Accounts Receivable and Internal Control
Assignment
Please note you have three assignments for this week. The case study, the weekly assignment and continue working on the final draft for the individual
research project.
Case Study (Knapp book):
Dollar General Stores
Questions 1–4
Weekly Assignment:
Textbook (Boynton book): Complete and submit the following questions for grading:
14–26
14–28
15–23
15–27
16–24
16–33
14–26 (Analytical procedures) the following data was taken from the production and accounting records for Casuccio Manufacturing, Inc. Unaudited
20X9
Audited 20X8
Audited 20X7
Operating Data
Capacity in Units
450,000
450,000
450,000
Production in Units
450,000
400,000
300,000
Inventory in Units
32,000
28,000
21,000
Financial Data ($000)
Total Revenues ... Show more content on Helpwriting.net ...
Calculate the following information and ratios for years 2, 3, 4, and 5:
–Purchases
–Accounts Payable turn days
–Cost of goods sold to accounts payable
–Current ratio
b. Describe the implications of the resulting ratios for the auditor's audit strategy in year 5. What specific audit objectives are likely to be misstated?
How should the auditor respond in terms of potential audits tests?
15–27 (Internal control evaluation–Cash disbursements) Management has requested a review of internal control over disbursements for parts and
supplies purchased at manufacturing plants. Cash disbursements are centrally processed at corporate headquarters based on disbursement vouchers
prepared and approved at the manufacturing plants. Each manufacturing plant purchases parts and supplies for its own production needs.
In response to management's request, a thorough evaluation of internal control over disbursements for manufacturing plant purchases of parts and
supplies is being planned. As a preliminary step in planning the engagement, each plant manger has been requested to provide a written description of
his or her plant's procedures for processing disbursement vouchers for parts and supplies. Presented below are some excerpts from one of the written
descriptions.
1. The purchasing department acts on purchase requisitions issued by

A Report on Accounts Receivable on Marysville General...
As the Chief Financial Officer of Marysville General Hospital, I have informed the hospital board members, that the accounts receivable has quickly
approached the 100th day mark. The accounts receivable had crept from the 70–80 day range within the past few months, which is greater than the
average of 55 days. There are many factors that could be a potential reason as to why the hospital accounts receivable days are rising, however,
collectively the board members will create a plan of action that will bring the accounts receivable days back in line. It will take cooperation from
everyone including the board members, medical staff, clinical departments, health information management, business office, and many others.
Therefore, each of these departments will be involved in devising a solution to reduce the accounts receivable crisis.
Before the proposal for a development plan for reducing accounts receivable, the following departments are requested to submit a current report
showing the status of their departments. The departments are: admissions; registrations; chart documentation; charge capture; claims processing;
payment posting; secondary billing and patient follow–up. All of these reports will provide further insight as to how each of the departments has
performed, and contributed to the increase of accounts receivable. Additionally, in reviewing these documents, the hospital will analyze the collection
data from the finance department, comparing the past,

Interpreting Bias Within Historical Accounts
Interpreting Bias within Historical Accounts History is often regarded as strictly defined and unyielding, particularly by those who uphold the
rationalist view that it is possible for a human being to objectively record observations of an event. However, the romantic view of reading history is
more in line with the reality that all nonfiction literature is subject to the bias of those writing it. The romantic approach embraces what those fixated on
their rationalist views try desperately to ignore, which is the fact that history is fundamentally a record of an individual's personal experience. To learn
from a historical account, one must treat an author's bias as an opportunity to uncover truths that can be even more meaningful than the unattainable
accurate representation of facts. A primary example of how history can be obscured by writers is the way in which two Englishmen, William Bradford
(1590–1657) and Thomas Morton (1579–1647), provide two very different accounts of the same events in Of Plymouth Plantation and in New English
Canaan respectively. Both men are affected by the desire to promote their beliefs and to make their tales appear authentic; therefore, both accounts are
biased. After evaluating the two authors' backgrounds and beliefs and how they affect their writing, as well as the discrepancies within the two
narratives, a critical reader may regard Morton's account as more credible. Personally, it was not the inconsistencies in either account that were

Accounts Receivable and Extermination Services Revenue Essay
Bug–Off Exterminators provides pest control services and sells extermination products manufactured by other companies. The following six–column
table contains the company's unadjusted trial balance as of December 31, 2011.
BUG–OFF EXTERMINATORS
December 31, 2011
Unadjusted Trial Balance
Cash 17,000
Accounts receivable 4,000
Allowance for doubtful accounts 828
Merchandise inventory 11,700
Trucks 32,000
Accum. depreciation–Trucks –
Equipment 45,000
Accum. depreciation–Equipment 12,200
Accounts payable 5,000
Estimated warranty liability 1,400
Unearned services revenue –
Interest payable –
Long–term notes payable 15,000
D. Buggs, Capital 59,700
D. Buggs, Withdrawals 10,000
Extermination services revenue 60,000
Interest ... Show more content on Helpwriting.net ...
Original cost 32,000
Expected salvage value 8,000
Useful life (years) 4
d. Two items of equipment (a sprayer and an injector) were purchased and put into service in early January 2009. They are being depreciated with the
straight–line method using these facts and estimates.
Sprayer Injector
Original cost 27,000 18,000
Expected salvage value 3,000 2,500
Useful life (years) 8 5
e. On August 1, 2011, the company is paid $3,840 cash in advance to provide monthly service for an apartment complex for one year. The company
began providing the services in August. When the cash was received, the full amount was credited to the Extermination Services Revenue account. f.
The company offers a warranty for the services it sells. The expected cost of providing warranty service is 2.5% of the extermination services revenue
of $57,760 for 2011. No warranty expense has been recorded for 2011. All costs of servicing warranties in 2011 were properly debited to the Estimated
Warranty Liability account.
g. The $15,000 long–term note is an 8%, 5–year, interest–bearing note with interest payable annually on December 31. The note was signed with First
National Bank on December 31, 2011.
h. The ending inventory of merchandise is counted and determined to have a cost of $11,700. Bug–Off uses a perpetual inventory system.
Required:
1. Use the preceding information to determine amounts for the following items.
a. Correct (reconciled) ending balance of Cash, and the amount of

Factors Affecting The For Verifying Accounts Receivable
6) I will address all major factors affecting sample size for confirming accounts receivable.
A) The following are factors will affect the sample size for confirming accounts receivable.
B) Tolerable accounts receivable and financial statement misstatement.
C) The Inherent risk will depend on the size of the total accounts receivable and the number of accounts, which includes prior year results, and expected
misstatements.
D) Control risk.
E) Achieved detection risk based on other substantive tests, and type of confirmation
F) Generally a positive confirmation requires a smaller number of sample sizes.
7) Another point I will address is the major issue of verifying the ending balance in property, plant and equipment is the possibility of legal
encumbrances. I will discuss any specific concerns I may have. I I will describe the procedures that I will undertake to obtain evidence about existing
legal encumbrances.
The auditors from Keller will need to perform the following steps in order to gain access to the evidence about existing legal cases include:
1. Inquiry with property, plant and equipment custodians
2. Review of minutes of meetings
3. Review of all assets noted during inventory observations (property, plant and equipment)
4. Confirmation of the client's liabilities
5. Reading and reviewing lease agreements
6. Reading and reviewing all documents related to assets purchase (property, plant and equipment)
The procedures mentioned are to determine whether there are

Flexible : Flexible Spending Accounts
Flexible Spending Accounts Nicole Harris 03–15–2017 Business Communication Introduction This report takes into consideration the requisite of a
corporation for a procurement of accommodating spending accounts for its employees. The executives of the corporation are open to question if
accommodating spending accounts are a fitting or achievable measure to abide by both the employees as well as the corporation. All things considered,
in this report declares the purpose served by the accommodating spending accounts and additionally emphasizes the benefits and drawbacks of the
same with the standpoint of the corporation as well as the employees in the same corporation. Advantages and Disadvantages An accommodating ...
Provided that the employee is ousted, resigns, or is unable to return to work he or she does not have to compensate the funds to the employer. The
employee distributes to the FSA is lesser sized amounts for the length of the year (for instance 1/26 of the yearly amount if one paid bi– weekly),
though done as a whole, all employees of a corporation make investments of the entire average gross during any given time, and no actual dangers is to
be endured by the employer. Furthermore, in place of paying payroll taxes to the government, the employer ordinarily pays only a minute rate that is
authoritative to the plan of $4–$10 per month per partaker. This is much less in comparison to what the corporation would have spent for its fraction of
payroll taxes. In addition, whatever money that is not applied by the remaining term of the plan year (or agreement period) is given back to the
employer. It is established to be up to 14% of the employees and advocates such plans, at that time if numerous employees utilize their full benefit that
us flexible they are dismissed that many provoke the corporation to have to reimburse the plan. Generally, be that as it may, employers do not declare
layoffs for certain employees to consume the benefits that are attainable and employees may in fact lose their contributions as well as being laid off. An
individual does not continue to add to

International Economics The Current Account Deficit Australia
In relation to International Economics the current account deficit Australia has, has been of some debate in recent years. The current account is the
summation of the balance of goods and services and net income and is a component of the balance of payments alongside the capital and financial
account. When a deficit occurs in the current account it means that the value of imports (debits) are exceeding the value of exports (credits). The value
of the current account has oscillated between the period 2008 to current, however despite these oscillations it has remained a deficit during this period
of time. Although a short–term CAD may not necessarily be detrimental to the Australian economy, potentially boosting economic growth beyond its ...
Graph 1 shows the trend in the Current account deficit (Economics Update, 2012).
Graph 1
The net primary income is the prevalent contributor to the Current account deficit. The servicing costs (interest on debt and dividends on shares) on
Australia's foreign liabilities are what predominantly comprise the net primary income deficit. Over the last 20 years the net primary income deficit has
averaged –3.3% of GDP. By December 2011 this increased by 0.1% to –3.2%. of GDP. Imports and exports encompass what is the Balance of Goods
and Services (BOGS). From 2008–09 and 2010–11 the BOGS recorded a surplus of Goods and Services. From 2012–13 the BOGS recorded a deficit,
however from 2013–14 the BOGS entered a surplus again despite the CAD remaining in a deficit (Graph 2) (Economics Update, 2012).
Graph 2
The current account is affected by both short term factors and long term factors. Periods of consumer led economic growth, identified by higher
consumer spending, particularly on imports will cause a deficit in the current account. Recessions, on the other hand, lead to improvements and
surpluses. (Pettinger, 2011). The impact of the GFC since 2008 has led to a temporary improvement in the deficit as consumers cut back on spending
(Graph 3).
Graph 3 Exchange rates also impact on the current account balance. A depreciation in the exchange rate

Accounts Receivable And Increase

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