Problem 1: You are the Senior Accountant for the Patty Corporation which has several divisions. They each keep their own accounting books and have chosen the appropriate method of revenue recognition based on their operations. | | | | Pat’s Electronics Division | | | | | Pat’s Electronics Division sells computers through agents in various cities. Agents send orders and down payments to our company. The division then ships the goods F.O.B. shipping point directly to
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TOPIC 1: PERSONAL IDENTIFICATION (THÔNG TIN CÁ NHÂN) My name’s Ha. I’m a teacher and I work in the air force and air depend academy. I’m thirty two years old. I live in Son tay town. My telephone number is 0985812676. In my family there’re three people: my wife‚ my son and I. My wife is a teacher‚ too. She’s thirty one years old. My son is six. I like music and sports espessionly football and volleyball. I’m friendly with other people. TOPIC 2: HOUSE AND HOME (NHÀ CỦA TÔI) My house is small
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ACCOUNTING THEORIES 1. What is the difference between a positive theory of accounting and a normative theory of accounting? 2. What do we mean when we say that ‘theories are abstractions of reality’? Do you agree that theories of accounting are necessarily abstractions of reality? 3. Identify and explain 5 different criteria we might use to establish a theory as being suitable for use in our research. 4. Is the study of financial accounting theory a waste of time for accounting
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Company Background L B Spices Trading (Private) Limited founded in 1930 as a cinnamon buying and selling shop‚ now produces excellent quality spices mainly cinnamon‚ garcinia‚ nutmeg‚ coffee‚ ginger‚ aricanut‚ cloves and pepper from Sri Lanka. LBS also produce essential oils such as cinnamon bark oil‚ and leaf oil through distillation process. LBS’s current market includes South America‚ Europe‚ Japan‚ USA‚ Singapore and Malaysia. Opportunity for ‘Going International’ LBS’s Mission and Vision itself
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“The theories we use to help us understand standard-setting in national arenas (such as Australia) don’t work so well at the international level where the . . . International Accounting Standard Board (IASB) is taking a leading role. We will have to modify them or expand our theoretical repertoire” Discuss the above statement‚ clearly indicating your agreement or otherwise about the basis for your views. Abstract: The theories that are presented in this paper all assume the importance of a
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The lean accounting method was first developed and introduced by Toyota and other Japanese companies. Toyota executives claim that the famed Toyota Production System was inspired by what they learned during visits to the Ford Motor Company in the 1920s and developed by Toyota leaders such as Taiichi Ohno and consultant Shigeo Shingo after World War II. As pioneer American and European companies embraced lean manufacturing methods in the late 1980s‚ they discovered that lean thinking must be applied
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strategy. Patents is an obvious example of a firm specific advantage Location-advantage‚ (or Country-Specific Advantage) on the other hand is immobile and is of a public-good nature as firms have access on equal terms (putting aside congestion problems). As location-advantage is bound to regions‚ it may lead to geographical fragmentation of value-added activities. We can see the relationship between Firm and Country Specific Advantage by reference to the quadrant below. In Quadrant one firms
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Substance Abuse In B.C The overdose problem in B.C has seen a recent spike in the last four years‚ this has been largely due to overdoses related to fentanyl use. There has been a steady increase in overdose fatalities since 2014; the amount of deaths caused by overdose in B.C were 119‚ in 2015 the number was 136‚ and in 2016 the number reached 256 (Britten‚ L. 2016). Another major problem that corresponds with illegal substance use is criminal behaviour. Illegal drugs are often linked in the involvement
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ACTG2010 Exam-AID session. It is intended for students enrolled in any section of Introduction to Financial Accounting – ACTG2010 course who are looking for an additional resource to assist their studies in preparation for the exam. References Friedlan‚ John. Financial Accounting: A Critical Approach. Toronto: McGraw-Hill Ryerson‚ 2010. Print. Richardson‚ Alan J. Cases in Financial Accounting: A Principles-based Approach. Toronto‚ ON: Nelson‚ 2007. Print. Contents Chapter 1: page 2 Chapter
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CASES Real World Case 5-1 Requirement 1 A bill and hold strategy accelerates the recognition of revenue. In this case‚ sales that would normally have occurred in 1998 were recorded in 1997. Assuming a positive gross profit on these sales‚ earnings in 1997 is inflated. Requirement 2 A customer would probably not be expected to pay for goods purchased using this bill and hold strategy until the goods were actually received. Receivables would therefore increase. Requirement 3 Sales that would
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