U. S. Generally Accepted Accounting Principles (U. S. GAAP) and International Financial Reporting Standards (IFRS) There are numerous companies that use different types of accounting standards or rules. International Financial Reporting Standards (IFRS) and U.S. Generally Accepted Accounting Principles the most popularly used by companies. IFRS is a set of accounting standards that provides a global framework for how public companies prepare and disclose their financial statements. The U.S. Generally
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agricultural imports Risk of labor and utility rates increasing faster than expected There are also benefits to outsourcing the production line which include: Cheap labor Cheap electricity The risks heavily outweigh the benefits of outsourcing in this case. Thus the best option for Scott’s Miracle-Gro would be to stay in the Temecula plant in the United States. Cost Analysis An analysis of the difference of manufacturing costs in Temecula and in China reveal that Scotts Miracle-Gro saves between $4
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use of computers to present text‚ graphics‚ video‚ animation‚ and sound in an integrated way while textual data and images is a part of multimedia which will be presented Multimedia is the field concerned with the computer-controlled integration of text‚ graphics‚ drawings‚ still and moving images (Video)‚ animation‚ audio‚ and any other media where every type of information can be represented‚ stored‚ transmitted and processed digitally. Examples of multimedia text‚ audio‚ still images‚ animation
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technologies implemented in the market Advanced technology grinding down the quality-based competitive advantage. High competition from large national chains and small stand-alones Price pressures and loss of high margins‚ i.e. rent Management Accounting The Original Allocation: The company faced inaccuracy issues in identifying customer profitability‚ using of the Activity Based Costing (ABC) Calculating “rent” of Assembly Sq. ft.: We took the total amount of rent and divided it by the
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ACCT 203: Section 1 Essay Instructions The Issue: You are a partner in Acme Accounting PSC and as such are considering how to respond to a letter written to you by “Bob” a new client. In his letter‚ he stated that he heard that there are two ways he can identify cost in the normal course of his construction business operations. He would like two know what they are‚ the major differences between them and which one best fits his business in terms of performance analysis. Your partners have asked
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The formation of the debit and credit concept In this simplified form we can begin to see what the mathematician and Father of Accounting (Luca Pacioli) saw in 1494 when he codified the double-entry bookkeeping system. It is his codified system that outlined the rules for applying debits and credits when recording the financial transactions of a business in the double-entry bookkeeping system. Now remember that Luca’s book in 1494 was written and published in Latin and at a time when the concept
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Stella Omusa is another interesting case study. As she pursued early schooling‚ Stella never had any idea of her orientation. Even her parents and peers could not help Stella on the same. Luckily‚ as a bright student‚ it was not difficult to secure admission into a public university. However‚ it is not clear whether Stella pursued a degree in bachelor of commerce‚ accounting option by choice or just as a matter of natural flow of events. Most likely though‚ it was the course she was selected to
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Classmates‚ According to (Oster‚ 2014)‚ "Percentage of receivables and percentage of sales are two accounting allowance methods used to reconcile customer accounts deemed noncollectable. When allowed by generally accepted accounting principles (GAAP)‚ these two strategies are preferred over direct write-off of bad debt expenses. Percentage of receivables and percentage of sales provide a business with the ability to accurately estimate the expected bad debt losses they will have in each succeeding
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8/2/2012 Objective of Lecture 2 CLASSIFICATION OF ACCOUNTS & ACCOUNTING EQUATION • By end of lecture 2‚ all students should be able to:(a) Understand the five categories of accounts and able to classify them into the respective categories (b) Understand the accounting equation and the relationship between assets‚ liabilities and owner’s equity. Classifications of accounts • • 1. 2. 3. 4. 5. An account is used to record all information regarding an item. The five major
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GENERAL NOTIONS 1. Kinds of Literature Literature can be subdivided into various kinds according to various criteria. It can exist in oral (folklore) or written form; literary speech can be prosaic or poetic. Literature can be divided into fiction and non-fiction. Non-fiction is a prose writing that presents and explains ideas or tells about real people‚ places‚ events. The main forms/genres of non-fiction are character sketch‚ journal‚ letters‚ memoirs‚ biography‚ essay etc. Fiction is
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