"1 discuss the accounting standards and concepts that dictate the proper accounting of sales returns" Essays and Research Papers

Sort By:
Satisfactory Essays
Good Essays
Better Essays
Powerful Essays
Best Essays
Page 49 of 50 - About 500 Essays
  • Better Essays

    FUNDAMENTALCONCEPTS OF ACCOUNTING Accounting is the language of business and it is used to communicate financial information.  In order for that information to make sense‚ accounting is based on 12 fundamental concepts.  These fundamental concepts then form the basis for all of the Generally Accepted Accounting Principles (GAAP).  By using these concepts as the foundation‚ readers of financial statements and other accounting information do not need to make assumptions about what the numbers mean

    Premium Depreciation Generally Accepted Accounting Principles Balance sheet

    • 990 Words
    • 4 Pages
    Better Essays
  • Better Essays

    Accounting Principles

    • 779 Words
    • 4 Pages

    Running head: ACCOUNTING PRINCIPLES Generally Accepted Accounting Principles P G HCS 571 June 5‚ 2013 Generally Accepted Accounting Principles Generally accepted accounting principles (GAAP)‚ are standards and guidelines for financial accounting‚ and reporting‚ (Office of Financial Management‚ 2012). There are guidelines in effect for most organizations; GAAP ensures that the finances of an organization are correct. According to Cleverly‚ Song‚ and Cleverly (2011)‚ GAAP describes the “body

    Premium Finance Balance sheet

    • 779 Words
    • 4 Pages
    Better Essays
  • Good Essays

    Accounting

    • 320 Words
    • 2 Pages

    Case 10-2 1. Ida needs to test the U.S. commercial building for recoverability under both U.S. GAAP and IFRSs. Recoverability test is one of the requirement tests for impairment. As a result‚ we need to verify if impairment should be recognized.   2. The impairement is $600‚000. GAAP methodology of determining impairment uses a two-step recoverability test. Step one‚ requires a company to estimate the future undiscounted cash flows expected from the use of that asset and its eventual disposition

    Premium Generally Accepted Accounting Principles Goodwill Depreciation

    • 320 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    Lean Accounting

    • 1514 Words
    • 7 Pages

    Essay Question 1 What are the main benefits and challenges of implementing a lean accounting system in a lean manufacturing environment? Do you anticipate interest in lean accounting will grow‚ the methods will change‚ or the concepts will fade out and be replaced with another ‘flavor of the month’? How do you perceive lean principles affecting your career? Justify your answers. I. Lean Accounting Lean accounting often refers to more simplified accounting practices that focuses

    Premium Lean manufacturing

    • 1514 Words
    • 7 Pages
    Powerful Essays
  • Powerful Essays

    Managerial Accounting

    • 2814 Words
    • 12 Pages

    1. Basic Concepts Product cost = Direct Labor (DL) + Direct Materials (DM) + Manufacturing Overhead (MOH) Financial accounting Managerial Accounting + Sales + Sales - COGS - Variable Costs = Gross Profit = Contribution Margin - SG&A - Fixed Costs = Net Profit = Net Profit COGS (Cost of Goods Sold) is an “inventoriable cost” ( recorded in the Balance Sheet as inventory and expensed (Income Statement) when goods are sold SG&A (Selling‚ General & Administrative) are

    Premium Costs Management accounting Cost

    • 2814 Words
    • 12 Pages
    Powerful Essays
  • Best Essays

    Accounting Theory

    • 2816 Words
    • 12 Pages

    Scoring level | The depth and quality of the research undertaken by you | The application of the research to the WIL task | The ability to apply appropriate accounting theories to the context of the task | The ability to synthesise information into a coherent and engaging report | The ability to correctly acknowledge sources using the Harvard Referencing system | Score | | 8 marks | 6 marks | 6 marks | 6 marks | 4 marks | | 4- AccomplishedHigh Distinction | * Materials referred to are

    Premium International Financial Reporting Standards Financial statements

    • 2816 Words
    • 12 Pages
    Best Essays
  • Powerful Essays

    Intermeidate Accounting

    • 4342 Words
    • 18 Pages

    CHAPTER 4 INCOME STATEMENT AND RELATED INFORMATION IFRS questions are available at the end of this chapter. TRUE-FALSe—Conceptual Answer No. Description T 1. Usefulness of the income statement. F 2. Limitations of the income statement. F 3. Earnings management. T 4. Transaction approach of income measurement. T 5. Single-step income statement. T 6. Revenues and gains. F 7. Multiple-step vs. single-step income statement. F 8. Multiple-step income statement. T 9. Multiple-step

    Premium Income statement Revenue Income

    • 4342 Words
    • 18 Pages
    Powerful Essays
  • Good Essays

    Introduction Accounting is an important means for an enterprise to implement efficient management‚ and the main basis to draft policies and plans. With the development of economy and the improvement of modern corporate system‚ the significance of accounting is becoming more and more obvious. This essay will discuss the main functions of accounting in business contest‚ thus prove that accounting is really essential and indispensable for an enterprise. Following this‚ it will explain why it is important

    Free Decision making Economics Management

    • 646 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Accounting Ethics

    • 1109 Words
    • 5 Pages

    Assignment 1: Review of Accounting Ethics The New Zealand Institute of Chartered Accounts (NZICA) represents over 33‚000 members in New Zealand and overseas. The organization audits private companies and public companies that are members of the organization (Graham‚ 1960). In October 2012‚ the organization was found to be practicing breaches of accounting with its members when an employee of the organization was found investing in different companies using client’s money. The loans were supposed

    Premium Ethics

    • 1109 Words
    • 5 Pages
    Better Essays
  • Good Essays

    financial accounting

    • 7173 Words
    • 42 Pages

    ACCOUNTING FOR INCOME TAXES F 1. Taxable income is a tax accounting term and is also referred to as income before taxes. F 2. Pretax financial income is the amount used to compute income taxes payable. T 3. Deferred tax expense is the increase in the deferred tax liability balance from the beginning to the end of the accounting period. T 4. A deferred tax liability represents the increase in taxes payable in future years as a result of taxable temporary differences existing at the end

    Free Income tax Tax Taxation

    • 7173 Words
    • 42 Pages
    Good Essays
Page 1 42 43 44 45 46 47 48 49 50