Letter of credit is an assurance by a bank to guarantee payment to a specified person under specified conditions. Letter of credit is mostly used in international trade, due to the risk of default by the buyer. A letter of credit as such provides complete financial security to the seller (the beneficiary). In a letter of credit, the bank assumes payment obligations on behalf of the buyer.
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The labor department on Thursday released a report on the US labor productivity for the second quarter 2017 (Q2 2017) and the actual figures were slightly higher than estimates for the period. Also, in addition to the above, the unit labor cost rose by less than initially expected. So, getting down to business, the productivity rose by 1.5 percent annualized rate. However, it should be noted that the initial figure reported was at 0.9 percent increase but was upwardly revised to 1.5 percent due to greater output spikes than initially estimated, which saw output spike by up to 4.0 percent while increase in hours worked was unchanged at 2.5 percent (NB: All quarterly percent changes in this release are seasonally adjusted annual rates.)
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Hello people, still continuing with our stock watch, today we would be taking a look at Nigerian Companies scheduled to make dividend payment in the month of September. We would also take a look at the closure of register dates for the shares. Before we begin, let’s take a look at what closure of register means for companies. For those who do not know, closure of register is the period when a company will not handle adjustments to the register or requests to transfer shares. When dividend payments are fast approaching, companies set a date for the closure of registers to indicate to investors that any intending request to transfer shares should be made before the date else it would not be processed and dividends would be paid to the original shareholder (i.e. Owner of shares before sending the request). So effectively, the request is put on hold until the dividends are transferred.
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Case Abstract
Dr pepper Snapple group (DPS) is the leading producer of flavoured beverages in North America and the Caribbean, offering more than 50 brands. It is the third largest producer of carbonated drinks with an estimated market share of 5%. DPS trails behind only coca-cola and Pepsi co which have estimated market shares of 47% and 21% respectively. DPS specializes in Cola and flavoured soft drinks, with well known brands such as 7up, Canada dry, Schweppes and Clamato. DPS operates 24 production plants, with almost all beverage concentrates produced in a plant in St. Louis Missouri. The business model includes both the company- owned, direct-store delivery (DSD), and third party distribution.
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Audit working papers comprise of documents, records and information which the auditors comes across in the course of their audit. i.e. audit of the financial statements, internal management audits, information systems auditing and investigations. Audit working papers gather documents which records all audit evidence the auditor uses to have a reasonable basis of arriving and forming an opinion on the truth and fairness of an enterprise’s financial statements.
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Social research is a way of finding true , valid and useful information about a particular domain or phenomenon or about problems in our universe. It is a method of getting some assurance about another researcher’s proposition, work or assertions. It is a method of securing some credible or reasonable information, or reasonable answers about some questions or social problems. It is a way of satisfying oneself about issue or phenomenon which seems unbelievable at first.
Functions of social research
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To keep track of transactions, we need to continuously record entries into their respective ledger accounts. Depending on the size of the business, an organization may have millions of cash or bank entries as receiving from debtors and payment to creditors occur on a daily basis. To keep the ledger from getting too congested, a separate book dedicated to recording cash and bank entries are usually maintained. This dedicated book is known as the cash book.
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Basically there are two broad sources of funding educational programs in Nigeria. They are:
A pension is a benefit that is available to employees only on leaving employment. It is a fund to which contributions both from the employee and employer are added to support the employee during retirement from work. In addressing pension related transactions, it can be looked at from pension scheme accounting and accounting for pension costs.
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The administrative and economic functions of management include planning, counseling, directing and decision making. Management accounting plays the following roles in ensuring the effective performance of those functions:
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