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Before RCI pays a vendor invoice, the invoice must be matched against the purchase order used to request the goods and the receiving report that the receiving department prepares. Because all three of these documents enter the accounts payable department at different times, a separate file is kept for each type of document. The purchase orders that are forwarded from the purchasing department are stored in a purchase order file. The receiving reports are stored in a receiving report file, once they are received from the receiving department. When the vendor invoice is received, the accounts payable clerk records the amount due in the accounts payable database and files the invoices. When it is time to pay a bill, the accounts payable clerk retrieves the vendor invoice, and the matching purchase order and receiving report, and sends those documents to the cashier.The accounting manager reviews the documents to ensure their accuracy. The accounting manager then prepares a check, also creating a second copy and records the check in the cash disbursements journal. Then both copies and all the three matching documents are sent to the controller.The controller reviews the documents again and signs the checks. The original copy of the check is then sent to the vendor and the copy, along with all the other documents are returned to the accounts payable department. Accounts payable then updates the accounts payable ledger and files all the documents, including the check copy.At the end of the month accounts payable uses the accounts payable ledger to update an accounts payable report that is sent to the controller who reviews and files it.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.
Term Structure of Interest Rates
Write a report on Internal Controls
Prepare the bank reconciliation for company.
Create a cost-benefit analysis to evaluate the project
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Distinguish between liquidity and profitability.
Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
Simple Interest, Compound interest, discount rate, force of interest, AV, PV
CAPM and Venture Capital
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