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Formula for growth profit;Two categories of different kinds of expenses for merchandizing companies;Cost of product;Cost of running the organization;Difference between Periodic and perpetual inventory system;Definitions;All steps;Income statement;Learn everything;3 parts;gross profit;operating expenses;2/10 net 30 (Ch 5);what each represents;calculate what we learn in ch 8;returned allowances;how much they?ll receive ect;seller and purchaser;they ask what is the balance is;fob destination (Ch 5);fob shipping point (Ch 5);goods help unconcinement;why companies under perpetual inventory system have to take physical inventory;same for periodic;lifo/fifo (Ch 6);ending;costs of good sold;analysis;if prices are going up which has highest income fifo highest taxes;if prices are going down which has highest income lifo;fifo/lifo/weighted average;6 principles of internal control (ch 7?);what does it do/what is the purpose;what do internal auditors do (ch 7);what does it mean when employees are bonded;example for internal control (ch 7);what is petty cash;what type of expenses are paid from petty cash;know how to do a balance per book and balance per bank;know different types of receivables;what does receivable mean;chapter 8;calculate what cash company receives after returns and discounts;why allowance for doubtful accounts are necessary, where each goes;allowance method and direct write off method;estimate, write off, recovery;aging account receivable;where are bad debt expenses and allowance for doubtful accounts;PxRxT equation


Paper#76006 | Written in 18-Jul-2015

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