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Resources, events, agents (REA) is a model of how an accounting system can be re-engineered for the computer age.REA was originally proposed in 1982 by William E. McCarthy as a generalized accounting model, [1] and contained the concepts of resources, events and agents (McCarthy 1982).
A key goal of the object-oriented approach is to decrease the "semantic gap" between the system and the real world, and to have the system be constructed using terminology that is almost the same as the stakeholders use in everyday business. Object-oriented modeling is an essential tool to facilitate this. Useful and stable abstraction
IAS 1 was originally issued by the International Accounting Standards Committee in 1997, superseding three standards on disclosure and presentation requirements, [1] and was the first comprehensive accounting standard to deal with the presentation of financial standards. [3]
SlideBoom turns slide presentations into Adobe Flash so they can be viewed without slide presentation software. [11] [12] SlideOnline allows the user to upload PowerPoint presentations and share them as a web page in any device or to embed them in WordPress as part of the posts comments. [13] Another way of sharing slides is by turning them ...
The specific functions and principles followed can vary based on the industry. Management accounting principles in banking are specialized but do have some common fundamental concepts used whether the industry is manufacturing-based or service-oriented. For example, transfer pricing is a concept used in manufacturing but is also applied in banking.
For example, consider the accounts payable department when processing an invoice. With an accounting information system, an accounts payable clerk enters the invoice, provided by a vendor, into the system where it is then stored in the database. When goods from the vendor are received, a receipt is created and also entered into the AIS.
The above principles are incorporated into the Managerial Costing Conceptual Framework (MCCF) along with concepts and constraints to help govern the management accounting practice. The framework ends decades of confusion [1] surrounding management accounting approaches, tools and techniques and their capabilities.
Examples of nonauthoritative accounting guidance and literature include the following: [4] Practices that are widely recognized and prevalent either generally or in the industry; FASB Concepts Statements; American Institute of Certified Public Accountants (AICPA) Issues Papers