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Module 01 Written Assignment – The Accounting Equation The conceptual framework reminds you that revenues are recognized when earned and not necessarily when collected. Also, expenses are recorded when incurred (used), not necessarily when paid. This is known as accrual accounting. Bill Smith opened Smith Construction on April 1, 2010. Review the transactions and financial position of Smith Construction for April in the Excel Template. Requirements: Enter the transactions for May into the accounting equation, calculating new balance after each entry. Prepare the Income Statement for the month of May. Prepare the Statement of Retained Earnings for the Month of May. Prepare the Balance Sheet as of May 31, 20xx. Submit your completed assignment by following the directions linked below. Please check the Course Calendar for specific due dates. Save your assignment as a Microsoft Excel document. (Mac users, please remember to append the ".xlsx" extension to the filename.) The name of the file should be your first initial and last name, followed by an underscore and the name of the assignment, and an underscore and the date. An example is shown below: Jstudent_exampleproblem_101504

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AFE5008-B Financial Accounting Assignment

Question: Assignment instructions 1. This is an Individual Assignment and please remember to include your student number in the heading of your work. 2. This assignment is based on four different scenarios covering various financial accounting topics (therefore there are four separate eleme ...

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Management

Question 1  (30 marks) (200-300 Words) Identify specific strategies used by Westpac to ensure conformity to appropriate financial services industry legislation, policies, procedures and guidelines. (You will need to interpret the information in the links above and relate it to your studies). Ar ...

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Strategic Performance Measurement Systems

REQUIRED Strategic Performance Measurement Systems (SPMSs) have long been recognized as a crucial element for improving business performance. Maxims such as “What Gets Measured Gets Done” reflect the view that implementing appropriate SPMSs ensures that actions are aligned to strategies ...

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Management

 Students with their team will create their own business and account for their business operations. Business ideas and accounting knowledge for partnership is the fundamental part of the assessment. In addition, students are required to use Accounting application MYOB to record for their busine ...

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