Homework Week 2 Exercise E1-1 SEC – K Audit – G Sole Proprietorship – I Corporation – E Accounting – A Accounting Entity – D Audit Report – J Cost Principle – F Partnership – C FASB – L IASB – H Unit of Measure – B GAAP – N IFRS – M E1-2 Accounts receivable – Asset Cash and cash equivalents – Asset Net sales – Revenue Notes payable – Liability Taxes payable – Liability Retained earnings – Stockholders’ Equity Cost of products sold – Expense Marketing‚ administrative
Premium Balance sheet Generally Accepted Accounting Principles Asset
Australian Dollar Analysis History: * The Australian Dollar is the currency of the Common Wealth of Australia‚ including Christmas Island‚ Cocos (Keeling) Islands and Norfolk Islands as well as the independent Pacific Island States of Kiribati‚ Nauru and Tuvalu. Within Australia it is almost always abbreviated with the dollar sign ($)‚ with A$ sometimes used to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents. * Prior to 1983‚ Australia maintained
Premium Inflation Foreign exchange market United States dollar
(A) Rules-based accounting standard Rule-based systems are fairly simplistic‚ consisting of little more than a set of if-then statements‚ but provide the basis for so-called "expert systems" which are widely used in many fields. The concept of an expert system is this: the knowledge of an expert is encoded into the rule set. When exposed to the same data‚ the expert system AI will perform in a similar manner to the expert. Rule-based systems are a relatively simple model that can be adapted to
Premium Expert system Artificial intelligence Accountancy
Master of Business Administration- MBA Semester 1 MB0041 – Financial and Management Accounting Q1. Accounting is one of the oldest‚ structured management information system. Give the meaning of accounting and book keeping? Explain the objectives of accounting? ANS. Meaning of Accounting- The systematic and comprehensive recording of financial transactions pertaining to a business. Accounting also refers to the process of summarizing‚ analyzing and reporting these transactions. The financial statements
Premium Balance sheet Generally Accepted Accounting Principles Income statement
interesting concept. If you are waiting for the results of the October examinations‚ I do so hope that your journey was successful. Dr Philip E Dunn Editor Head of Education Trainee Certified Bookkeepers need to develop competence in the procedure for writing off a bad debt and also dealing with the creation of a provision for doubtful debts together with its review on an annual basis. As an examiner I find this an area that often causes difficulty‚ however if you master the principles any examination
Premium Debt Balance sheet Generally Accepted Accounting Principles
Competition in the Movie Rental Industry in 2008: Netflix and Blockbuster Battle for Market Leadership 2. What forces are driving changes in the movie rental industry and are the combined impacts of these driving forces likely to be favorable or unfavorable in term of their effects on competitive intensity and future industry profitability? -The economy is one of the reasons why rental industry went down. Less people are able to rent a lot of movies. -Second and main reason that drives
Premium Generally Accepted Accounting Principles Netflix Balance sheet
Jefferson Animal Rescue is a private not-for-profit clinic and shelter for abandoned domesticated animals‚ chiefly dogs and cats. At the end of 2011‚ the organization had the following account balances: [pic] .:. The following took place during 2012: 1. Additional supplies were purchased on account in the amount of $15‚000. 2. Unconditional (and unrestricted) pledges of support were received totaling $95‚000. In light of a declining economy‚ 5 percent is expected to be uncollectible. The remainder
Premium Generally Accepted Accounting Principles Asset Depreciation
1. DTE is wrong 2. Capex 3. Defrev 4. Contributed capital 5. Retained earnings Cash received 1. DTE is wrong 2. Capex 3. Defrev 4. Contributed capital 5. Retained earnings Cash received 1. DTE is wrong 2. Capex 3. Defrev 4. Contributed capital 5. Retained earnings Cash received 1. DTE is wrong 2. Capex 3. Defrev 4. Contributed capital 5. Retained earnings Cash received 1. DTE is wrong 2. Capex 3. Defrev 4. Contributed capital 5. Retained earnings Cash received
Premium Generally Accepted Accounting Principles Capital
ACC 509 Case 5-2 Response Justin Tammany Grennell Farm Income Statement (Sales/Delivery Method) ------------------------------------------------- Year Ending December 31‚ 2009 Sales Revenue $522‚000 Less Expenses Cost of Sales 92‚340 Wages 72‚500 Insurance 4‚500 Taxes 32‚500 Depreciation 28‚500 Other 45‚000 Total Expenses 275‚340 ------------------------------------------------- Net Income $246‚660 Grennell Farm Balance
Premium Generally Accepted Accounting Principles Balance sheet Asset
Case 2-1 Maynard Company (A) 2013 1 Diane Maynard made the following request of a friend: My bookkeeper has quit‚ and I need to see the balance sheets of my company. He has left behind a book with the numbers already entered in it. Would you be willing to prepare balance sheets for me? Also‚ any comments you care to make about the numbers would be appreciated. The Cash account is healthy‚ which is a good sign‚ and he told me that the Net income for the month of June was $19‚635. The book
Premium Generally Accepted Accounting Principles Accounts receivable