Chapter 1 CA1-1 (FASB and Standard-Setting) Presented below are four statements which you are to identify as true or false. If false‚ explain why the statement is false. 1. GAAP is the term used to indicate the whole body of FASB authoritative literature. 2. Any company claiming compliance with GAAP must comply with most standards and interpretations but does not have to follow the disclosure requirements. 3. The primary governmental body that has influence over the FASB is the SEC. 4. The FASB
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AC301: Intermediate Accounting II CPA Exam and Qualifications Wendy Roy 10/20/2014 I went and visited a few websites to understand completely California laws for the CPA‚ some of the websites I visited were; California Board of Accountancy‚ CalCPA‚ and This Way to CPA. These websites gave insight to the education standards that California requires before taking the exam. There are many different advantages to becoming a CPA board member‚ some of these advantages are; salary‚ demand‚
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on the riverbank‚ but Michael must be at the river to fish. Why can’t Michael also sit on the riverbank? 8) Why does Michael take out his creel to share? 9) What did Michael reel in while fishing? 10)Why does the narrator end his story with a kiss? 1) Answers to basic content questions Blonde hair is sexy and virtuous‚ black hair is just sexy‚ it could be equated with trouble 2) The heroine takes off her engagement ring. It creates suspense because the reader does not know whether she will jump
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CA 1-4: (a) Differentiate between Financial Accounting and Managerial Accounting. While financial accounting is the process that culminates in the preparation of financial reports on the enterprise for use by both internal (as managers) and external parties (as investors‚ creditors‚ unions‚ and government agencies)‚ managerial accounting is the process of identifying‚ measuring‚ analyzing‚ and communicating financial information needed by management to plan‚ control‚ and evaluate a company’s operations
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L3 HSC vTechnical Certificate unit worksheet Unit 306 - Understand health and safety in social care settings The numbers after each question relate to the assessment criteria in the standards 1. Identify legislation relating to health and safety in a health and social care setting (1.1.1) Health and Safety at Work Act 1974 Is an Act of the Parliament of the United Kingdom that as of 2011 defines the fundamental structure and authority for the encouragement‚ regulation and enforcement
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Governmental Acct. Chapter 1 Homework 1-1) What justifies the different accounting & financial reporting practices of gvmt. & not-for-profit organizations as compared with business organizations? The fact that governments may have a monopoly on the services that they provide and the taxpayers must provide resources to them regardless of what they are‚ and efficiency is hard to measure as well as the quantity or quality of the services. 1-2) Describe the principal differences that distinguish
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Chapter 1 Case 1-6 During the early 2000s‚ the roles of accounting and the auditing profession changed and several accounting scandals were uncovered. A. What conditions caused accounting and the auditing profession role to change during this time? In the mid 80s‚ the AICPA lift on the ban on advertising caused revenue generation to become more critical to partner’s compensation. The profit structure of CPA firms changed‚ and in 1999‚ revenues for management consulting accounted for more
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Unit # 1 – Accounting and Finance 1. A convertible bond is one which a. can be exchanged for shares of stock b. may be called ahead of maturity date by the issuer c. has a maturity less than 90 days d. makes no coupon payments and is initially priced at a deep discount 2. The Statement of Cash Flows addresses a. assets‚ liabilities‚ and equity b. dividends and retained earnings c. operating‚ investing‚ and financing activities d. working capital and float 3. The cash flow for three
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------------------------------------------------- Subject: Managerial Accounting Case 1 Seligram In the Seligram case‚ the existing cost accounting system measured two components of cost: direct labor and burden. All burden cost‚ which is the overhead‚ was grouped into a single cost pool and was calculated only by using a burden rate per direct labor dollar. This may cause problems since direct labor and overhead are not consumed by the products in the same proportion. Simply using the same burden
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applicants) Application – options Dr 10 000 Options Cr 10 000 (Issue of options) 31/12 Cash Dr 63 000 Share capital Cr 63 000 (Issue of shares on issue of options) Options Dr 10 000 Share Capital Cr 9 000 Options lapsed reserve Cr 1 000 (Transfer of lapsed options) Exercise 2.6 ISSUE OF ORDINARY AND PREFERENCE SHARES Prepare journal entries and ledger accounts to record the following transactions for Kuwait Ltd: KUWAIT LTD 2015 01/4 NO ENTRY 10/4 Cash trust Dr 210
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