Financial contro Samenvattingen, Aantekeningen en Examens

internal controls paper, module 4, financial accounting. topics covered: role of internal controls. recommendations. alerting the owner. financial statements. balance sheet. income statement.

SOC1502 EXAM PACK $0C1502 MAY/JUNE 2019 QUESTION 1 Which of the following statements correctly describe how human beings became differentiated? @m@ = Epidemics played a role in shaping the genetic inheritance of population groups 2 Darker skin protected against skin cancer in areas where there was little sunshine 3 There was extensive inbreeding between early humans and modern human beings 4 The period from the rise of the first humans to the present was too short for any g...

SOLVED- ELABORATED-CMCA Budgets, Reserves, Investments, and Assessments-Financial Controls for 2021 SOLVED- ELABORATED-CMCA Budgets, Reserves, Investments, and Assessments-Financial Controls for 2021CMCA Budgets, Reserves, Investments, and Assessments/Financial Controls for 2021 Assessment - |Ans| >> The owner's financial obligation to the community association during a given period of time—usually one year. It covers the owner's share of the common expense, also known as "common e...

SOLVED- ELABORATED-CMCA Budgets, Reserves, Investments, and Assessments-Financial Controls for 2021 SOLVED- ELABORATED-CMCA Budgets, Reserves, Investments, and Assessments-Financial Controls for 2021CMCA Budgets, Reserves, Investments, and Assessments/Financial Controls for 2021 Assessment - |Ans| >> The owner's financial obligation to the community association during a given period of time—usually one year. It covers the owner's share of the common expense, also known as "common e...

Assessment - ANSWER-The owner's financial obligation to the community association during a given period of time—usually one year. It covers the owner's share of the common expense, also known as "common expense liabilities" in some states. Baseline funding - ANSWER-The goal of this funding strategy is to keep the reserve cash balance above zero. Chart of accounts - ANSWER-An organized list of titles, descriptions and assigned numbers of all accounts in an organization's general ledg...

Financial Statements, Audits, Income Taxes & Investments for 2022 Liabilities - |Ans| >> Liabilities consist of what is owed to others or collected in advance (e.g. owner assessments received prior to the billed month). Members' equity - |Ans| >> Members' equity is called the fund balance under the fund method of reporting. It equals the difference between the community association's assets and liabilities. Modified cash basis of accounting - |Ans| >> This method records...

SOLVED- ELABORATED-CMCA Budgets, Reserves, Investments, and Assessments-CMCA Financial Controls II for 2021 SOLVED- ELABORATED-CMCA Budgets, Reserves, Investments, and Assessments-CMCA Financial Controls II for 20211. Actual cash value (ACV) The depreciated value of an item. 2. Advertising injury __________ provisions in CGL (comprehensive general liability) include language providing coverage to the community association with respect to damages resulting in "misappropriation of advertising ...

SOLVED- ELABORATED-CMCA Budgets, Reserves, Investments, and Assessments-CMCA Financial Controls II for 2021 SOLVED- ELABORATED-CMCA Budgets, Reserves, Investments, and Assessments-CMCA Financial Controls II for 20211. Actual cash value (ACV) The depreciated value of an item. 2. Advertising injury __________ provisions in CGL (comprehensive general liability) include language providing coverage to the community association with respect to damages resulting in "misappropriation of advertising ...

Baseline funding

Chapter 3. Internal Control over Financial Reporting, Responsibilities of Management and the External Auditor