Company introduction KC ACCOUNTANCY CORP is a Southern California CPA firm, found in 2000. The company offers a full range of business and consumer CPA services including financial statements preparation, IRS. FTB. EDD representation, tax return preparation, office computerization, new business start-up, general bookkeeping and tax preparation & planning. Job description During the intern period, I did four main tasks as follow 1. Bookkeeping The […]

Chapter 12 : 1. As part of the initial investment, a partner contributes office equipment that had cost $20,000 and on which accumulated depreciation of $ 12500 had been recorded. If the partners agree on a valuation of $ 9000 for the equipment, what amount should be debited to the office equipment account? a). 7500 c). 12500 b). 9000 d). 20000 2. Chip and Dale […]

ACKNOWLEDGMENT I would like to express my greatest gratitude to the people who have helped and supported me throughout my assignment. I am equally grateful to my TUTOR: IZDIHAR B. BAHRIN @ MD. DAUD and E-TUTOR: BALDEV SINGH A/L PERTAB SINGH for his continuous support for the assignment. He gave me moral support and guided me in different matters regarding the topic. He had been […]

Financial statements produced using FIRS were used to obtain startup fund. Current quarterly statements are produced using this format to maintain consistency and clarity for investors’ sake. SUBS lists balance sheet items, revenue, liabilities, and share measurements. GIBBS follows FIRS rules when reporting their financial data in every month financial statements fairly and accurately. It is good to use FIRS in the accounting process for […]

Accounting has a history that is usually discussed in terms of one seminal event- the invention and dissemination of the double entry bookkeeping processes. Paul Garner and Atsuo Tsuji (1995) report that the first printed treatise of bookkeeping in the world is the Summa de Arithemetica, Geometria, Proportioni et Proportionalita written by Luca Pacioli. The treatise was published in Venice in 1494, and was reprinted […]

Introduction The purpose of this report is to identify the items that may result in adjusting entries for both prepayments and accrual by looking at the trial balance and Income statement. Furthermore, analyzing the historical summary of financial Is to know the trend for profit or loss of the company assets. Fundamental First of all, why we have to make BAD? Balance day adjustments are […]

Place your name and the date at the top of the page, and answer the following questions making sure you SHOW YOUR WORK. 1. A hardware store bought a gross (12 dozen) of hammers, paying $602. 40 for the total order. The retailer estimated operating expenses for this product to be 35% of sales, and wanted a net profit of 5% of sales. The retailer […]

Ex 16. 2 (Basic Types of Manufacturing Costs) Into which of the three elements of manufacturing cost would each of the following be classified? a. Tubing used in manufacturing bicycles. b. Wages paid by an automobile manufacturer to employees who test-drive completed automobiles. c. Property taxes on machinery. d. Gold bullion used by a jewelry manufacturer. e. Wages of assembly-line workers who package frozen food. […]

THE ROLE OF ACCOUNTING IN ORGANIZATIONAL CONTROL By: Abdur Rehman (IIUI) Table of Contents Introduction 3 Accounting4 Key Theories in Organizational Control6 * Key Theories8 Role of Accounting in Organization’s Control10 * Working of Control Theory at Workplace12 Conclusion13 References 14 online sources15 Introduction Accounting is the gathering and compilation of information for decision makers – including investors, managers, lenders, public and the regulators. Accounting […]

ACKNOWLEDGMENT I would like to express my greatest gratitude to the people who have helped and supported me throughout my assignment. I am equally grateful to my TUTOR: IZDIHAR B. BAHRIN @ MD. DAUD and E-TUTOR: BALDEV SINGH A/L PERTAB SINGH for his continuous support for the assignment. He gave me moral support and guided me in different matters regarding the topic. He had been […]