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What is the accounting meaning of apprentice premium?

Apprenticeship is a system of training a new generation of practitioners of a structured competency based set of skills.


What is integration cost accounting system and nonintegrated cost accounting system?

An integrated accounting system requires a cash book and general journal, where a set of books contains inventory and cost accounting information. In non-integrated cost accounting, only a purchase account is required to record purchases.


Defination of computerized accounting system?

The computerized accounting system refers to the organized set of computerized procedures and methods used by businesses to record their financial information.


A variable cost system is an accounting system where standards are set for each manufacturing cost element?

True.


The final output of a computer accounting system is a set of financial statements and reports?

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How can you set up the system so that cardholders can reallocate only on specific accounting code segment?

Select only that segment on the accounting code view assigned to cardholders


How do you set institution accounting system?

To set up an institutional accounting system, first, define the accounting policies and procedures that align with the institution's financial goals and regulatory requirements. Next, select appropriate accounting software that can handle the specific needs of the institution, such as tracking revenues, expenses, and budgets. Implement a chart of accounts to categorize financial transactions, and ensure staff are trained on the system. Finally, establish internal controls and regular reporting mechanisms to maintain accuracy and transparency.


Who set accounting rules?

Financial Accounting Standards Board (FASB) set US GAAP (Generally Accepted Accounting Practices)


How can you set up the system so that cardholders can reallocate only one specific accounting code segment?

Select only that segment on the accounting code view assigned to cardholders


What is the difference between Accounting and Business Accounting courses?

In "Business Accounting" you will learn how to keep one set of books for yourself and another set of books for the IRS.


Basic function of accounting?

to keep a set of books for business with an information system that provides reports to users about the economic activities and condition of a business.


What rules impact a business' Accounting Information System?

The CPA rules, the tax laws, and the rules set by company management and Board of Directors.