Accounting
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...Accounting 08 February Accounting Standards (AS AS-6, AS-10, and AS-12) The project focuses on the different accounting standards and it mainly includes Accounting standards-1(AS-1), Accounting standards-6(AS-6), Accounting standards-10 (AS-10) and Accounting standards-12 (AS-12). “The Financial Accounting Standards Board (FASB) has been the designated organization in the private sector for establishing standards of financial accounting and reporting since 1973” (FASB Statements and Standards par. 1). The main aim of the Accounting Standards is to regulate the various accounting practices and policies, with a vision to remove, to the possible extent the reliability to the financial... Finance and...
Accounting
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...Accounting Susan Thompson, New Assistant Management Accountant October 11, 2014 SUBJECT: Financial Versus Managerial Accounting Following your recent appointment, I hereby offer to explain some useful similarities and differences between financial and managerial accounting as well as some managerial accounting reports that you can expect within EEC: Similarities 1. Both financial and management accounting are decision-making tools because they provide crucial financial information for decision making. 2. Both financial and managerial accounting portrays financial health of an organization. They allow the users of the information presented to make financial decisions... Financial Versus Managerial...
Accounting
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...Accounting. Perform the following: The __b. Accrual _ basis of accounting recognizes income when it is earned and expenditures when they are incurred. a. Primary b. Accrual c. Checkbook d. Cash Briefly explain which basis of accounting and the reasons why that basis of accounting is not desirable for most organizations. As opposed to accrual method, cash basis of accounting is the one that is not desirable for most organizations, because it does not match income to expenses which produces the income. Cash basis of accounting only recognizes income when cash is received, and expenses when cash is disbursed. Generally accepted accounting principles (GAAP) follow... Week Six Application: Bases of...
Accounting
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...Accounting AF42001 Matriculation No: Topic: Why Consistency of Accounting Standards matters: A Contribution to the Rules Versus-Principles Debate in Financial Reporting. SUMMARY The author in this article discusses the importance of the consistency of the accounting standards as the need of the hour because of the fact that the reliance placed on the principles has been, thus far, unable to ensure its application consistently and the management tends to use dissimilar treatment to cases which is, in all, identical and same. Today, after the world gained globalization, this issue has been eradicated and guidance materials such as the International Financial Reporting Standards... and the...
Accounting
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...Accounting ID Lecturer The world of accounting has been shaped up by belief that it can make for some serious understanding of the business. There is evidence for this assumption and the results have spoken just the very same for a period of time. Accounting has indeed been the cornerstone of success within the business regimes of present times, as has been vividly expressed in this paper. The field of accounting has received quite a good deal of significance in the last decade or so. This is because accounting has come out as a force to reckon with in the recent past. It has made the tasks of...
Accounting
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...Accounting Accounting is medium of communication used to interpret financial information for different users. It is based on several concepts that standardize its practices to be consistent for ease of understanding and reporting for all professionals. Although cash is a highly critical aspect of accounting, the two major parts of financial statements, the Income Statement & the Balance Sheet, are based on balances and concepts such as prudence and going concern. That is one reason why one would rarely see the same cash amount equivalent to the profit of the company. Cash flow statement is prepared separately to account for all the cash transactions and determine the hard cash position... Accrual...
Accounting
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...Accounting? College What major effects has technology had on Managerial Accounting? Computer-integrated production has had an important positive effect, particularly on cost accountants. With automated production processes, computers gather and record information at once. The outcome is “an operational information system that fully integrates manufacturing with marketing and accounting data”, that increases both the volume and regularity of the information (Hansen & Mowen, 1997, p. 8). This comprehensive information has been important in cost accounting, permitting accountants to embed function-based costing systems. These new costing systems help... What major effects has technology had on Managerial...
Accounting
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...accounting Managerial accounting Managerial accounting is an activity that is concerned with providing financial and non-financial information by the managers. The managers use the information to make internal decisions of an organization (Jackson, Sawyers & Jenkins, 2009). Manager make decisions that concern the production cost, production methods, profit cost analysis among others. The performance of an organization depends on the quality of decisions made by the managers. An organization may have good and intelligent managers, but if they are poor in decisions making, it is apparent productivity of the organisation would go down. Therefore, what matters is quality decision and hence... Managerial...
Accounting
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...ACCOUNTING THEORY Introduction To better understand accounting theories there is need to develop an understanding of what accountingis in the first place. This picture is best painted by looking at the history of accounting that will also provide insight into the various accounting theories. Among these are the ground concepts that may be used in the formulation of accounting theories among other aspects of accounting theories. Some contend that in the beginning many primitive societies, those that were in existent in the earliest days, developed the art of counting before developing the...
Accounting
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...Accounting How has IT changed Accounting in the past 5 years? Information Technology has led to the creation of significant advantages for accounting departments. Computer systems and Information Technology networks have significantly made shorter the time that is required by the accountant for the preparation and presentation of financial information to stakeholders and management (Gelinas et al 56). On top of shortening the lead-time, it has also improved overall accuracy and efficiency of the delivered information. Its biggest impact on accounting in the past five years has been the ability of...
ACCOUNTING
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...Accounting Accounting Problems at Cutter & Buck There were a number of accounting problems at Cutter & Buck, both legal and illegal. In terms of questionable -- but still legal -- accounting problems, the organization would record products as sales revenue when they were shipped. The organization then began a practice where they would send products to distributors much earlier than necessary as a means of increasing their sales figures for the current quarter. This allowed the organization to artificially meet expected revenue for the quarter. Still, this necessitated that Cutter & Buck begin each quarter already behind in...
Accounting
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...ACCOUNTING TREATMENT OF LEASED ASSETS Introduction This report sets out the basic rules for the treatment of leased assets for the lessee. It represents the financial characteristics of leasing transactions and proves its best accounting treatment. We had been following the treatment of entering assets in our balance sheet, but recently it was commented that it should be treated as liabilities in our balance sheet as we do not owe those assets for several years. Leased assets’ accounting treatment has been subjected for many discussions by accounting specialists and hence there are different views among them. Even though, leased assets are not legally owned by lessee, he has the right over... REPORT ON...
Accounting
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...accounting graduate to grow with our company. There are ways to simplify the selection process in order to narrow down the search among the many applicants. An attribute you should look for among the applicants is for students that graduate with a minimum grade point average of 3.0. Any applicants that have a GPA below that threshold should be disqualified. Another important credential that you should look for is for graduating students that have work experience in accounting. Obviously since they are new graduates you don’t expect... Boss April 8, Criteria to select new employees The recruiting process of new employees is always a tough challenge. It is my understanding that you are looking for a new...
Accounting
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...accounting and our methods of accounting, some terms and ideas need to be defined for our employees’ general use: Financial reporting refers to information that is useful to users that are making rational investment, and credit decisions related to the company; this includes financial statements, cash receipts, and a business’ economic resources. Official documents include the statement of retained earnings, the balance sheet, and the income statement. (4) Potential investors may also consult the footnotes of financial statements for a more complete picture of our finances, or more... MEMO CMC Employees RE: Clarifying Financial Reporting December 14, To help clarify some of the objectives of financial...
Accounting
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...accounting in the past years has led us to question the accounting and reporting ethics practiced by managers around the globe. Capitalization of expenses, hidden asset impairments, using off-balance sheet liabilities, inflating recognized revenues and ‘cookie jar’ accounting are few of many ways to over-state profitability by the management. So, what was the root cause of corporate fiascos such as Enron/Arthur Anderson and WorldCom and what force serves as incentives for managers to resort... Incentives to Earnings Management & Manipulation: The Manager’s Perspective Incentives to Earnings Management & Manipulation Introduction The inclination toward both legitimate and illegitimate means of creative acc...
Accounting
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...Accounting Companies should be required to use the same accounting method for inventory. That would ensure that there is no exploitation of the customers because of the inventory methods that are been used by companies. The other advantage of that is the fact that there will be uniformity in the reporting of financial statements by the various companies. Uniformity will allow for comparisons in the industry as a whole and that will ensure that the best performing entities are noted. The other advantage of uniform accounting is the fact that it will be easier for the relevant authorities to check the books of accounts when...
Accounting
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...Accounting. Mason, OH: South-Western Cengage Learning Ltd.... Pure profit Dr. Hendley’s ment that difference between the opening bank balance and the closing bank balance is pure profit is incorrect. According to Nikolai, Bazley, & Jones (2009), a statement of cash flow indicates the financial position while the income statement indicates the profitability of the organization during an identified period. The difference between opening bank balance and the closing bank balance gives a cash flow statement. Income statement on the other hand is given by the difference between revenues and expense (Gill & Chatton, 1999). A statement of cash flow cannot be used to indicate profitability of an organization...
Accounting
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...Accounting Question Dainty Ltd. Financial ments Dainty Ltd Income Statement for the year ended 31st March’2013 Sales Revenue 2,880,000 Cost of Goods Sold(105000+1500000-120000) (1,485,000) Gross Profit 1,395,000 Operating Expenses (165,000) Administration Expenses(189000+8000) (197,000) Utilities Expense(27000-6000) (21,000) Depreciation Expense (666,000) Bad Debt Expense (30,000) Provision for Bad Debt (78,000) Net Profit for the year 238,000 Dainty Ltd Statement of Financial Position as at 31st March’2013 Fixed Assets Property Plant and Equipment (600000-270000-90000) 240,000 Company Limo (2400000-1440000-576000) 384,000 624,000 624,000 Current Assets Cash (27000+30000... Introduction to Business...
Accounting
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...accounting, amortization schedule, revenue recognition at different points of recognizing, and company accounts are explained with the help of journal entries and amortization schedule. Part1 Investment in other companies Investments by the companies, give them a chance of increase their other income that will result in company’s growth. Other companies can reside their head offices in other foreign countries... . Therefore, the investment in other companies can be beneficial for the company in a manner that, the interest rate paid on the investment can be higher than the company home place. In questions below, we will record the accounting impact of investments in other...
Accounting
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...Accounting Marginal costing, also known as contribution, variable and direct costing, refers to the method ofcost accounting whereby marginal costs are the ones charged to cost units and the fixed costs are the ones treated as a lump sum. Refers to the method where only variable costs are used in making decisions. On the other hand, absorption costing refers to the method of coming up with a full product cost that sums up direct costs and a proportion of the production overhead costs through overhead absorption costs. There are various advantages and disadvantages of implementing the marginal costing method over the absorption costing method (Goektuerk,...
Accounting
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...ACCOUNTING AND AUDIT By of the of the School Introduction Globalization has become a trend that businesses should not ignore. This has therefore prompted various companies worldwide to adopt the International Financial Reporting Standards (IFRS). This process began in 2005 with various European Union states adopting these techniques so that their financial statements can be prepared in accordance with these new standards. Since 2005, the numerous states that have been planning to convert from the U.S. based Generally Accepted Accounting Principles (GAAP) actually switched their focus towards adopting the International Financial Reporting Standards (Mehta, 2013, pg. 285... INTERNATIONAL ISSUES IN...
Accounting
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...Accounting al Affiliation) 4. The ment of cash flows is important because it provides information about the annual outflows and inflows of cash of a company (Coyle, 2000). Therefore, the statement of cash flows is crucial because it helps in identifying the cash inflow’s sources and its utilization. Additionally, the statement is important because it helps in management for cash planning and maintenance of proper matching between the cash outflows and inflows. The cash flow statement also report the cash used in various investing activities like purchasing fixed assets. Companies report the received cash through various financial activities like debentures, issuing of...
Accounting
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...accountant. I always comply with the generally accepted accounting principle. To me satisfying the needs of the customer is a top priority. As an accountant it is my duty to always give a maximum effort in order to complete the tasks at hand on time. During my academic career I have demonstrated that I am a great student. It is important to me to learn as much as I can from the course material, my professor, and my fellow classmates. Doing external research is extremely important to keep up with the latest data and information. The hardest part of being an accountant is complying with deadlines. e... ?Part I a) b) c) d) In ACTG 381, 382, and 383 my grades were _____ . I believe that I am an excellent...
ACCOUNTING
9 pages (2250 words) , Download 1 , Essay
...accounting system in the firm and including adequate number of cost centers to it. After much controversy about the number of cost centers to be included in the management accounting system the chief accountant identified the cost centers on the basis of per unit product produced and how each cost center is related to one another in the entire production process. As it was an engineering company, the chief accountant successfully divided the manufacturing and service of the firm into four major cost centers like Fabrication, Assembling, Administration and Plant maintenance. He... Case Analysis of Thomela Products Limited Introduction: The case study mainly deals with the issue of introducing management...
Accounting
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...Accounting The undesirable translation adjustment in the first part of part rises due to two factors which include the exposure of the balance sheet on the net asset and depreciation of the polish zloty against U.S dollar in the second year. The exposure of the balance sheet’s net asset as all assets are changed at the current exchange rate which is more than total liabilities that are also changed at the current exchange rate. The second part of Part 1containing the remeasurement profit arises due to two factors: an exposure of the balance sheet’s net liability and there is depreciation in polish zloty against U.S dollars. In the temporal method,...
Accounting
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...accounting world International Financial Reporting Standards application On Private companies Summary Due to the diversification and the development of the financial markets across the globe, some of the major countries adopted a common set of rules to meet their reporting requirements known as the International Financial Reporting Standards. These reporting standards, since then, have been adopted by over 100 countries across the globe and now even the United States, which previously adopted Generally Accepted Accounting Principles or GAAP, are considering the adoption of IFRS as their reporting standards across... International Financial Reporting Standards application A summary and impact on...
Accounting
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...Accounting Fraud of Enron Corporation Introduction Accounting fraud is the falsifying of an organization’s financial records pertaining to its income, sales, liabilities in order to inflate its profits or assets when its actually running at a loss. Enron’s fraud is among America’s landmark cases which resulted to its bankruptcy in year 2001. Enron was a public limited company formed by Kenneth Lay in 1985 dealing with energy. The paper seeks to evaluate the causes of its financial fraud which lead to its bankruptcy. Rise of Enron In the 1990s period, Enron was considered one of the most famous companies in the world due to its innovations. According to...
Accounting
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...accounts Corporate charts of account refer to a list of all accounts that are generated an s a result of the normal day to day firms operations. It is a detailed list arbitrary generated containing all the essential detailed accounts used by the business entity majorly aimed at explaining every single class of the item which involves inflow or outflow of cash. The accounts are critically prepared with the underlying objective of maintaining the firm’s funds while segregating the revenue, equity, assets and liabilities so as to make the all the interested parties conceptualize as well as enabling them have a better understanding of the financial soundness... Developing a firm’s corporate charts of...
Accounting
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...Accounting 101FAC109 George Majdalany Due Date: Sunday, October 21, 2012 Maximum Marks: 100 Marks Weight: 10% of the course’s final grade Instructions to Students: a. This is an individual, not a group assignment b. Your assignment should have your name and student number typewritten in the allocated spaces in the cover page of this assignment c. All answers must be submitted in hard-copy type-written forms d. Late submission of assignments is not acceptable. Assignments not submitted on the 21st of October 2012 will have a grade of zero. e. Plagiarism will be penalized by a grade of zero on the full assignment f. HBMeU Academic Dishonesty... e-School of Business Assignment No Fall – Semester Financial...
Accounting
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...Accounting Accounting Flowers Foods Company has outsourced functions such as bread making, branding, transporting, and delivering the products to the consumers. The Newton Bakery Tour Company is one of the four companies operating in North Carolina. The company produces more than 125 million pounds of breads and buns in the year ending 2012. The company automates parts of the general production line. The packaging stage in the production line is run by the programmed machines, which are relatively faster and efficient. Grow sales enhance the development of new markets for utilization of customers, new products and strong brands. Technological advancements...
Accounting
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...Accounting Ever since we were children, we have had values that have been instilled in us. These values have been formed through the instruction of our closest friends and family. For me, my family was very religious, and thus I was brought up to be very conservative over all sorts of issues. My Muslim background has shown me how I should live in the world. More specifically, my faith has allowed me to feel compassion for those less fortunate than I. Growing up in Saudi Arabia helped me to learn in a safe world, yet I was also well aware of the problems in the world. I can still remember one time when my family and I had an impending ethical decision to make. The memory...
Accounting
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...ACCOUNTING Introduction A balanced scorecard is a tool that is mainly used by managers to analyze the performance of their organizations (Kaplan & David, 1992). It comprises financial and operational measures that are major indicators of a business thereby giving managers a fast overview of how the organization is performing. It gives information related to customers, their preferences and satisfaction, internal operation and innovations in a company. Discussion The balanced score card can be used to measure performance in several ways because it is a comprehensive tool containing various perspectives of an organization. Performance can be measured by using the financial...
Accounting
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...accounting practices and way of thinking accordingly in order to predict a more accurate ROI and cost saving plan from the new purchase. Gary Speed can improve the ROI from the capital expenditure by lowering down the depreciation of the assets in the first year. He can charge lower depreciation in the earlier years and higher depreciation in the future years in order to show to the board that the purchase is performing as well as expect . Gary Speed can also formulate a new plan for calculating ROI. He should make changes to the way EverGreen Corporation calculates the ROI on its Capex. One great of calculating the accurate ROI... Gary Speed can do a host of things, next time the capital acquisition...
Accounting
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...Accounting of a case fraud The former chief accountant of Stanford financial group of companies Mr.Gilbert Lopez and Mark Kurt, the global controller of the Stanford were involved in fraud. The two officials were sentenced for twenty years in prison. Gilbert Lopez was also to pay cash bail of twenty-five thousand dollars. In addition, they were to be supervised even after for a period of three years upon their release. The two were convicted of wire fraud and conspiracy on 19 November 2012. They had had actively participated underground in misusing the financial assets of Stanford International Bank. Moreover, they defraud the bank by inflating that they...
Accounting
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...accounting standards and the internal controls could also be relied upon. Investment in Toyota remains an attractive area irrespective of the fierce competition from its competitors because of the diversified portfolio. If management formulates well strategies and adheres to market demands, then the investment would be worth. Work Cited Toyota.Annual Report 2010 . Aichi. 2010. Retrieved From http://www.toyota-global.com/investors/ir_library/annual/pdf/2010/pdf/ar10_e.pdf... Toyota Motor Corporation Performance The company of my choice is Toyota. This is the largest company in the automotive industry. The choice has been propelled by the fact the...
Accounting
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...Accounting Success Introduction Ameritel is a premier wholesale company that deals in the provision of wireless services besides provision of retail partnerships. Ameritel has a direct working relationship with T-Mobile USA. It has also cultivated a network that runs across the entire nation of at least 3500 retail dealers. In Brooklyn New York where the company started, Ameritel had a single store in 1996. However, today it has expanded to one of the America most influential national wireless providers and retail partner. Activity-Based Management and Customer Success The company operates numerous warehouse stores in New York, Atlanta and Los Angeles. In addition,...
Accounting
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...account For the year ended 30th June 20X1 $ $ $ Sales 554,800 Less:return inwards 9,880 544,920 Less Cost of goods sold: Opening stock 28,690 Purchases 257,640 less: return outwards 26,220 231,420 260,110 less: closing stock 30,780 229,330 Gross profit 315,590 Less:expenses Increase in provision for bad debts 798.0 Bad debt expense 4,180 Advertising 11,400 Electricity and Gas (21090+1710+760) 23,560 Insurance (10830-3040) 7,790 Motor... Q1a) Olympic Trading and Profit and loss...
Accounting
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...Accounting FedEx Express is “a global air-and-ground” transportation company that offers a wide variety of shipping services within the United sand other 220 countries world-wide. It boasts of more international locations than any of its competitors with “unmatched air route authorities” and a guaranteed delivery that meets each particular needs of the customer. Founded in 1971 as Federal Express Corporation (FedEx n.d.). United Parcels Services, Inc. or UPS on the other hand, likewise operates in the United States and serves 200 other countries providing delivery and shipments of packages, letters, etc. It also caters to a wide variety of financial services like short...
Accounting
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...Accounting Accounting Paper The organization d as Biolea is a family-owned business that specialized in the manufacturing of olive oil that is organic in nature and they produce olive oil with the techniques of millstones and olive press. Fixed cost includes the utility payments and payments made to the permanent workers for their services. The variable cost that the company experiences include oil transportation and oil storage cost that may change with the changes in productivity. The mixed cost of the business will be the contractual workers and the utility payments that the company will experience during peak season. The company Gulf Craft is...
Accounting
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...account balances) PART B: Shown next are the last two columns of the worksheet for the Aimless Company for the period ending December 31, 2001. On the basis of the earlier three columns that you have completed, fill in these two columns of the worksheet, checking to see if the totals balance. PART C: On The basis of your work in Part B, prepare an income statement, a statement of owner’s equity and a balance sheet... P5 PART A: Shown are the first three numerical columns of the worksheet for the Aimless Company, a sole proprietorship, for the year ending December 31, 2001. Fill in the blank spaces in these three columns, where appropriate. (Look for both sides of the entry for adjustments and extend...
Accounting
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...account payable because it has built strong relationships with its suppliers and they receive credit terms longer than the industry standard of n/30. 4. a) items that can cause pre-payments are prepaid supplies, prepaid rent, and prepaid... 1. a) As a creditor of the company the deep decline of the share’s price could be interpreted that the company is facing financial problems. I would not let the them borrow money, but if other factors warrant the possibility of lending money they should charge them a high interest rate because the credit risk is high. b) As an investor the events that took place were disastrous. The company lost over 93% of its value. The fact that the company paid divideds is a sign ...
Accounting
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...Accounting Tools 2008). Characteristics of basic standards (AccountingCoach 2008) Particulars Characteristics Period These standards reflect the costs that would have been incurred in a certain past period (i.e. the base period). Change These standards are used for items or costs which are likely to remain constant over a long period. Short run vs. Long run Basic standards are set on a long term basis and are seldom revised. Effect... A Distinguish between basic, ideal and attainable standards and explain how these may be used in the Rayong factory of the Simple Shoes Company. Standard cost is the pre-determined operating cost calculated from Management’s standards of efficient operation and the relevant ...
Accounting
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...Accounting al Affiliation) Health Care Reforms Improving the performance of the healthcare system is one of themajor challenges facing the United States of America. In recent years, improvements in standards of care and medical knowledge have led to longer and more productive lives of individuals. Research and innovations promise an even better future. From a social point of view, it is the hopes of the relevant authorities that many people if not all are beneficiaries of these advances in health care system. However, healthcare is not only a social or scientific issue; it is also an economic issue. Health care reforms decisions affect aspects of the economy such as living standards... Finance &...
Accounting
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...Accounting Table of Contents Project 2- 8 Ratio 10 Project 3- 13 References 16 About Walmart Established in 1962 by Sam Walton, Walmart has become the most heralded name in the global retail industry. The company has been listed as the number one globally according to a survey of the Fortune magazine. The company has its operations located in 15 different countries and is known by different names. Initially the company was formed with a view to help customers save on their purchase. Over time, this has become the underlying business philosophy of the company that has earned a global brandname for itself. Walmart Inc. is listed on the NYSE from 1972. According to data...
Accounting
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...account to Cortez Inc. for $9,000, terms 2/10, n/30. On January 16, Cortez Inc. pays the amount due. Prepare the entries on Arnesons books to record the sale and related collection. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.) Date Description Debit Credit Jan. 6 Account Receivable (Cortez Inc.) 9,000              Sales   9,000 Jan. 16 Cash 8,820     Sales Discount 180              Account Receivable (Cortez Inc.)   9,000 On January 10, Mary Dawes uses her Pierson Co. credit card to purchase merchandise from Pierson Co. for $9,000. On February 10, Dawes is billed for the amount due of $9,000. On February 12... On January 6, Arneson Co. sells merchandise on...
Accounting
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...accounts estimates to the former concerning “Form 51-102F1’s Item 1.12 noting the importance of disclosing the probabilities of liabilities and sensitivity analyses. However, it recognizes the contingent nature of a number of environmental liabilities rendering quantification... Summary of the CSA Staff Notice 51-333 The CSA Staff Notice 51-333, aims at providing guidance to reporting issuers (apartfrom investment funds) about the environmental disclosure requirements. “The Notice draws from OSC Staff Notice 51-716, environmental disclosure guidance from CICA and the recent climate change guidance from the U.S. Securities & Exchange Commission.” The Staff Notice 51-333 gives a detailed guide and sample...
Accounting
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...Accounting – Principles and Practice. Part – 5. Ch. 3. New Delhi. Kalyani Publishers. 2006. Book Bibliography: Kendrick, Tom. The Project Management Tool Kit: 100 Tips and Techniques for Getting the Job Done Right. Ed.2. Ch.20. U.K. Amacom. 2010. Anonymous. Developing a Business Case: Expert Solutions to Everyday Challenges. U.K. Harvard Business Review Press. 2011. Nelson, Stephen. L. Quick Books 2008: All In One Desk Reference for Dummies. U.K. John Wiley & Sons. 2008. Armstrong, Michael. Handbook of Management Techniques. Ed. III. U.K. Kogan Page. 2006. Parring, Robert & Kidwell, David. S. Fundamentals of Corporate Finance. U.K. John Wiley & Sons. 2009. Gapenski,...
Management accounting
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...Accounting Table of Contents Introduction 3 Management Accounting 3 Financial Accounting 4 Comparison of management accounting and financial accounting 4 Conclusion 6 References 7 Introduction Management accounting and financial accounting are two of the most important aspects for any business organization in the context of present global business scenario. It may seems by looking at the two terms that they are very similar to each other, but the fact is that there are significant differences between these two. They play different roles in the process of satisfying the needs of the stakeholders of a particular organization. This essay attempts to provide a clear understanding regarding... Management...
Accounting Theory
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...Accounting Affiliation Introduction A critical perspective is defined as an accounting researchthat makes inquiries on whether particular methods of accounting should be applied. It pays attention to the function of accounting in maintaining the privileged positions of those who have capital and neglecting the voices of those without capital. A critical perspective of accounting is mainly concerned with promoting a better society. Critical accounting research is based on a classical technique that challenges the present structure and nature of the society. Environmental and social accounting research is likely to implement a bourgeois perspective. Critical theorist says... Critical Perspectives of...
Accounting Cycle
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...accounting field a key function that defines the way accounting operates is called the accounting cycle. The accounting cycle is a nine step process that accountants must perform in order to process accounting transaction in to achieve a defined output. The nine steps of the accounting cycle are: 1. Analyze business transactions 2. Journalize transactions 3. Post ledger accounts 4. Prepare a trial balance 5. Journalize and post adjusting entries 6. Prepared adjusted trial balance 7. Prepare financial statements 8. Journalize and post closing entries 9. Prepare post closing trial balance (Weygandt... Different professions have particular theories or methodologies that indentify the profession. In the...
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