variable cost. B. Identifying cost of goods sold and operating costs. C. Identifying costs as financial or managerial. D. Identifying costs in a physical manner. E. Identifying both quantitative and qualitative cost factors. 4. A classification of costs that determines whether a cost is expensed to the income statement or capitalized to inventory is: A. Fixed versus variable. B. Direct versus indirect. C. Financial versus managerial. D. Service versus manufacturing. E. Product versus period. 5. A fixed
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creating better futures http://www.uow.edu.au/commerce School of Accounting and Finance ACCY305: Financial Accounting III Subject Outline 6 credit points Subject Information Autumn‚ 2013 Wollongong On Campus Lecture Information: Wednesdays‚ 10:30 - 12:30‚ 67-104 Wednesdays (Repeat Lecture)‚ 17:30 - 19:30‚ 20.4 Pre-requisites: ACCY201 Co-requisites: Nil Restrictions: None Contact Hours: 2 hours lecture and 2 hours tutorial Online Subject Material: http://www.uow.edu.au/student/index.html
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violence‚ but that is not always so. For example‚ Switzerland has more per capita firearms than any other country in the world has lower murder and robbery rates than England‚ where guns are essentially banned. This is stating that Switzerland with more guns has less crime and that England with less guns has more crime. It all goes back to its not the weapon or gun that commits the crime! Gun Control only takes guns away from people that are law abiding citizens. It doesn’t stop criminals from
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March 2006 Financial Reporting This Financial Reporting letter was prepared and distributed by BDO Seidman‚ LLP to help our clients anticipate and respond to questions that may arise in connection with the implementation of FASB Statement No. 123 (Revised 2004)‚ Share-Based Payment. Contents: What is the scope of Statement 123(R)? What plans does it cover?...............................3 Is the plan compensatory for financial accounting purposes? ...............................
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“Global Financial Crisis: Regulatory Arbitrage and Paradigm Shifts” In early 2008‚ the economy ground to an almost complete halt. As the stock indexes were overwhelmed by a virtual tsunami of never relenting red digits‚ it became clear that the financial markets had been hit by a crisis the scope and scale of which had not been witnessed since the Wall Street Crash of the 1930’s. Over time the causes became more clear‚ and as the dust settled‚ the world was left with several important questions
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Glossary – Financial Markets & Institutions ________________________________________ A advances A bank’s borrowings from the Federal Reserve System. Also known as discount loans. adverse selection The problem created by asymmetric information before a transaction occurs: the people who are the most undesirable from the other party’s point of view are the ones who are most likely to want to engage in the financial transaction. agency theory The analysis of how asymmetric information problems
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There are quit a few differences in financial and managerial accounting‚ the first differences has to do with the primary users of the reports; in financial accounting the reports are used by external users such as stockholders‚ creditors and regulators. On the other hand managerial accounting reports are used by internal users and include officers and managers. In addition the type and the frequency of the reports differ; financial accounting have financial statements and quarterly and annually
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impossible to "beat the market" because stock market efficiency causes existing share prices to always incorporate and reflect all relevant information. According to the efficient market hypothesis (EMH)‚ stocks always trade at their fair value on stock exchanges‚ making it impossible for investors to either purchase undervalued stocks or sell stocks for inflated prices. As such‚ it should be impossible to outperform the overall market through expert stock selection or market timing‚ and that the only
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Week 4 Checkpoint March 17‚ 2013 XACC/290 Resource: Ch. 4 of Financial Accounting Complete Exercise BE4-1. Complete Problems 4-2A & 4-3A. BE4-1: |Cash |Net Income | |-$100 |$0 | |-$20 |$0 | |+$1‚300 |$1‚300 | |+$800 |$800 | |-$2‚500 |$0 | |-$600 |$0 | | |
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Over the years the accounting profession has been subject to various forms of oversight with varying degrees of success. Nevertheless‚ it used to be self-regulating. But a series of financial scandals involving once prominent companies such as Enron‚ WorldCom and Parmalat lead the authorities to consider whether the accounting profession’s self-regulatory oversight system was appropriate to meet the necessary objectives. These corporate failures had shown that the self-regulatory system did not produce
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