comprehensive analysis of financial accounting topics involved in preparing financial statements and in external reporting. Students may receive credit for only one of the following courses: ACCT 310 or BMGT 310. Course Goals/Objectives This course should help you develop the ability to apply GAAP to a variety of complex accounting and financial reporting situations. The specific goals of this course are to: • provide a more extensive understanding of financial accounting principles and procedures
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year-end accounts receivable‚ auditors hope to accomplish the objective of obtaining evidence from third parties to evaluate the client’s assertions of year-end accounts receivable amounts. The client’s assertions that accounts receivable confirmation can effectively address are existence‚ rights‚ and valuation. (b) When performing year-end sales cutoff tests‚ auditors hope to accomplish the objective of obtaining evidence from third parties to evaluate the client’s assertions of sales recorded
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1-6 1-9 1-6 1-4 1-2 LO2 Disaggregate operating return (RNOA) into components of profitability and asset turnover. 1‚ 7-9 10-14 7-9 5-6 1-3 LO3 Explain nonoperating return and compute it from return on equity and the operating return. 1-2‚ 10-11 15-17 10 7-8 1-2‚ 4 LO4 Compute and interpret measures of liquidity and solvency. 1‚ 12-14 18-24 11-14 9-10 1-2‚ 5-6 LO5 Describe and illustrate traditional DuPont disaggregation of ROE. 1‚ 15 25 15 11 1-2‚ 7 Module 4: Analyzing
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JB Accounting Fraud‚ the Investor and the Sarbanes Oxley Act Throughout the past several years major corporate scandals have rocked the economy and hurt investor confidence. The largest bankruptcies in history have resulted from greedy executives that “cook the books” to gain the numbers they want. These scandals typically involve complex methods for misusing or misdirecting funds‚ overstating revenues‚ understating expenses‚ overstating the value of assets or underreporting of liabilities
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Chapter 1: Environment and Theoretical Structure of Financial Accounting Accounting Principles Board (APB) The Accounting Principles Board (APB) followed the CAP. Asset/liability approach With the asset/liability approach‚ recognition and measurement of assets and liabilities drives revenue and expense recognition. Auditors Auditors express an opinion on the compliance of financial statements with GAAP. Capital markets The capital markets provide a mechanism to help our economy allocate
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Machine-hours 2. The cost function in requirement 1 is an estimate of how costs behave within the relevant range‚ not at cost levels outside the relevant range. If there are no months with zero machine-hours represented in the maintenance account‚ data in that account cannot be used to estimate the fixed costs at the zero machine-hours level. Rather‚ the constant component of the cost function provides the best available starting point for a straight line that approximates how a cost behaves within the
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or answers the question. __C__ 1. Raymond Corporation reported the following information for the year ended December 31‚ 2012: | Net income | $ 10‚000 | | Dividends | 6‚000 | | Retained earnings at December 31‚ 2012 | 25‚000 | What was the economic effect of the payment of Raymond’s dividends? a. | The dividend reduced net income for 2012. | b. | The dividend should be equal to net income if the company’s accounting equation is in balance. | c. | The dividends reduce total
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Balance Cash 17‚000 Accounts receivable 4‚000 Allowance for doubtful accounts 828 Merchandise inventory 11‚700 Trucks 32‚000 Accum. depreciation-Trucks - Equipment 45‚000 Accum. depreciation-Equipment 12‚200 Accounts payable 5‚000 Estimated warranty liability 1‚400 Unearned services revenue - Interest payable - Long-term notes payable 15‚000 D. Buggs‚ Capital 59‚700 D. Buggs‚ Withdrawals 10‚000 Extermination services revenue 60‚000 Interest revenue 872 Sales (of merchandise) 71‚026
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1. What is data vis-à-vis information? When can information be deemed good and useful? How are these related/ connected to an information system? Data are facts‚ which may or may not be processed (edited‚ summarized‚ or refined) and have no direct effect on the user. By contrast‚ information causes the user to take an action that he or she otherwise could not‚ or would not‚ have taken. Information is often defined simply as processed data. This is an inadequate definition. Information is determined
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Masters of Business Administration – MBA Semester 1 MB 0041 – Financial and Managerial Accounting – Assignment Roll No. 1305015785 Name of the Student: Pallab Kakoti Email id: ksetrajna@gmail.com Mobile : 958 256 3250 Q1. Accounting is one of the oldest‚ structured management information system. Give the meaning of accounting and book keeping? Explain the objectives of accounting? Accounting‚ as an information system is the process of identifying‚ measuring and communicating the economic
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