Nadiah has a partnerships business with his cousins, Husna and Bari. Three of them has good...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Nadiah has a partnerships business with his cousins, Husna and Bari. Three of them has good relationships and have different skills. However, they have very lack knowledge in accounting records. Nadiah has hired you to provide training on accounting records. The training consists of the following: a) Explain the accounting process or cycle in a definition. b) Explain accounting concepts and assumptions that shall be practiced by an accountant in Malaysia. c) Identify accounts related to the business and classify it under Assets, Liabilities and Owner's Equity. d) Explain double entries rules and accounting equation to the business. Nadiah has a partnerships business with his cousins, Husna and Bari. Three of them has good relationships and have different skills. However, they have very lack knowledge in accounting records. Nadiah has hired you to provide training on accounting records. The training consists of the following: a) Explain the accounting process or cycle in a definition. b) Explain accounting concepts and assumptions that shall be practiced by an accountant in Malaysia. c) Identify accounts related to the business and classify it under Assets, Liabilities and Owner's Equity. d) Explain double entries rules and accounting equation to the business.
Expert Answer:
Answer rating: 100% (QA)
a The accounting process or cycle refers to the sequence of steps followed to record classify summarize and report financial transactions of a business It involves a series of activities that begin wi... View the full answer
Related Book For
Auditing A Practical Approach with Data Analytics
ISBN: 978-1119401742
1st edition
Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton
Posted Date:
Students also viewed these accounting questions
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
In 2011, BNSF rolled out a plan to hire more than 4,000 new employees-one of the most ambitious hiring plans ever for the company. Of the new hires, the majority of them (about 2,400) were being...
-
List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...
-
Calculate and compare the efficiency of the two turbines of Prob. 14123. They should be the same since we are assuming dynamic similarity. However, the larger turbine will actually be slightly more...
-
Process costing Journal Entry: The Geneve Chocolate company is located in French Speaking Switzerland. The company makes truffles that are sold in propular embossed tins. The company has 2 processing...
-
Might some managers attempt to implement a particular intervention, such as TQM, without first diagnosing whether the intervention would be appropriate for their organizations problems?
-
Use the LIL (Corollary 12.2) to give an alternative proof for the fact that a onedimensional Brownian motion oscillates in every time interval \([0, \epsilon]\) infinitely often around its starting...
-
Fierro Company received a bank statement showing a balance of $12,800 on November 30, 2016. During the bank reconciliation process, Fierro's accountant noted the following bank errors: 1. A check for...
-
You push horizontally on a 150-N box that is initially resting on a horizontal table. The coefficient of static friction between the box and the table is 0.75, and the coefficient of kinetic friction...
-
Angela Petrillo recendy opened her own law office, which she operates as a corporation. The name of the new entity is Angela Petrillo, Attorney. Petrillo experienced the following events during the...
-
Write the following in your own words In the biblical story, it's helpful to portray Gods unfolding plan of redemption through four acts: creation, fall, redemption and glorification. The story...
-
What type of networking opportunities are available via your college or university, or entrepreneurial-minded organizations in the city or town that you live in, which could be helpful to you in your...
-
From the following information prepare trading and profit and loss account of M/s Indian sports house for the year ending December 31, 2005. Adjustments 1. Closing stock was Rs.45,000. 2. Provision...
-
Explain why recruiting a well-known and highly respected board of directors lends legitimacy to a firm.
-
Charlie Berry, Shelly Jones, Nancy Harder, Keith Hawkins, Jennifer Atwood, and Cliff Barnes are all experienced software engineers. For some time, theyve been talking about starting a companythe six...
-
Spend some time studying Kim Levine, the homemaker who created Wuvit, a pillow filled with 100 percent natural grain. Describe how the Wuvit was created and the steps that Levine took to bring it to...
-
Android Studio Edit the appropriate files to create an Update function.Specifically: 1.When a user clicks a list item, display the list items textin the input text area 2.When a list items text has...
-
Inexhaustible collections of ONPOs are not required to be capitalized or depreciated, if certain criteria are met. Why is this so, and what accounting and reporting recognition, if any, is required...
-
What are the audit file assembly deadlines and the audit file retention policies for public and private company audits? Provide an analysis of why you think the deadlines and policies are different...
-
Companies use profitability measures to assess performance and to: a. Assess their ability to compete. b. Maintain consistency in operations each month. c. Measure their ability to pay short term...
-
Explain a typical control preventing, or detecting and correcting, duplicate payment of a vendors invoice in a purchasing system.
-
Find at least three advantages and three disadvantages of the HSMC architecture (see Fig. 9.2 ). Based on those findings, evaluate your confidence (scale 0 1) on this particular hardware vision. By...
-
What are the advantages and disadvantages of writing a BAM object class in an object - oriented language like C ++ ?
-
What are the main challenges or even obstacles behind the suggested design and implementation procedure of Figure 9.5 ? Based on the identified challenges, evaluate your confidence (scale 0 1) on...
Study smarter with the SolutionInn App