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Sheila Is a Regional HR Manager for a Large Bank

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Sheila is a regional HR manager for a large bank. One of her responsibilities is to hire co-op students ready to graduate. The students work on a variety of tasks ranging from marketing and finance functions mostly using their own computers linked to the bank's system. Based on each student's productivity, Sheila determines which students the bank will pursue for full time employment. What is the formal term for what Sheila is doing?


Definitions:

Accounting Principle

Fundamental guidelines or rules that govern the accounting process, ensuring that financial statements are accurate, reliable, and consistent.

Accounting Estimate

An approximation of a financial statement element, item, or account in the absence of exact data.

Prospective Approach

A method of accounting that applies new standards or changes in accounting policy to transactions occurring after the date of the change or standard implementation.

Debit

An entry on the left side of an account, representing an increase in assets or expenses, or a decrease in liabilities, equity, or revenue.

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