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Tiffany Watson Applied Managerial Accounting Colorado Technical University Dr. Margareta Moczynski Part 1 – Memo to New Assistant Memorandum To: Susan Thompson Date: October 6, 2017 Re: Financial Accounting vs. Managerial Accounting Susan, Welcome to Eddison Electronic Company. I am very happy to have you on the team. I look forward to mentoring you and educating you in managerial accounting. I am glad to see that you have a strong background in financial accounting and I am sure that…

agree to share in the profits of a partnership without having a voice in partnership management. · Liability: General partners are seen as legally the same entity as the partnership. They are jointly and severally unlimitedly liable to their creditors. Creditor may go after the assets of partnership unit, and further may go after each individual general partner’s personal assets to satisfy a liability. A limited partner’s liability is limited to the amount of their investment. · Income…

amounts were recorded to the wrong customer account in error or because customers' checks were stolen, mailing a monthly statement to customers with outstanding balances will help control this error or fraud because the customer is likely to let the creditor know that the amount they are reported as owing is incorrect, especially if the statement says they owe more than what they actually owe. b. Control G. If employees were required to compare documents required to ship the goods with the…

Inside Chobham is the name of a carpet and fabric shop located in the centre of Chobham, this research report will identify and analyse various sources of finance which are suitable to fund the expansion plans of it’s owner. It’s situated in a town which is primarily populated by families with an above average household income, which makes it an ideal location for a carpet shop which stocks expensive carpets such as Brintons and Couristan. It has been operating for many years now and has managed…

It is thus a complete cycle because it is a two way process. Until the full process has been gone through the process of communication is considered to be incomplete. (3) Information as a one-way process Information flow is another related process. Information is knowledge; it comes from the processing of raw data which records the events as they take place in every miniscule of an organization or an institution. Knowledge is power. The flow of information is considered to be an extremely…

fund required for the business. It is the easiest and simplest form of business structure in which the owner keeps all the profit and maintains privacy. However, it has unlimited liability meaning if the business fails or results in loss the creditors have access to all the business…

Justice is the quality of being fair and reasonable. Hammurabi’s Code, found in Mesopotamia, was the first set of laws written and followed by a society. Hammurabi was an ancient king who ruled Babylonia, a city-state located in Mesopotamia. Hammurabi made a Code of 282 laws carved on stele, a large stone column. These laws touched on topics such as: Family, Property, and Personal Injury Laws. In my opinion, all of these laws were unjust, unfair, and in some cases unnecessary. The Laws were…

continues to kiss his feet and anoint them with ointment. As this is going on, the pharisee turns to Jesus and informs him that a sinner is touching him. Jesus, well aware of the fact that a sinner is washing his feet, replies to the pharisee, “A certain creditor had two debtors; one owed five hundred denarii, and the other fifty. When they could not pay, he canceled the debts for both of them. Now which of them will love him more?” (Luke 7:41-42). And, of course, the pharisee’s response is that…

stolen. Second, law 48 states that if you borrow money to plant crops, but water floods or carries away your crops, you don’t have to pay your creditor (Doc D). These laws aren’t fair. Law 23 isn’t fair because cities get money from the citizens, so it would technically mean the citizens are paying for the victim’s stuff. Law 48 isn’t fair because the creditor needs their money to plant their own crops. Without the crops, the supply of food for them, their family, and possibly part of the…

In law 48 it states: “If a man has borrowed money to plant his fields and a storm has flooded his field or carried away the crop, … in that year he does not have to pay his creditor.”(Doc D). That law is just because the creditor gets his money back eventually and the farmer gets that money to increase how good his crops are. Law numbers 53,54 state: “If a man has opened his trench for and the waters have flooded his neighbor’s field, the man must…