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Question - Mary is the sole proprietor/owner of a cleaning service. Mary cleans private homes and bills her customers afterwards. She also has the option to give her clients a monthly contract with pre-payments made in advanced for her services. She orders her own cleaning supplies for her cleaning service. Mary has no employees or partners.
Using the information above write a detailed account on what Mary's Revenue Cycle and Expenditure Cycle should entail when recording her accounting procedures for her business.
What revenue systems are needed? Why are they important? Example: sales/accounts receivable/cash receipts.
What expenditure systems are needed? Why are they important? Example: purchasing/accounts payable/cash disbursements.
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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