ISSUES IN ACCOUNTING EDUCATION Vol. 26‚ No. 4 2011 pp. 797–806 American Accounting Association DOI: 10.2308/iace-50053 Home Heaters: A Holistic View of the Financial Statements M. Cathy Claiborne and Kirkland A. Wilcox ABSTRACT: In this case‚ two start-up companies in the same industry have identical economic transactions. Although both companies follow generally accepted accounting principles (GAAP)‚ each manager makes different choices and estimates when applying GAAP. By preparing
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INTRODUCTION Cost accounting is an important tool in the management of any business firm or organization‚ which includes those in the small scaled industry. In the cause of our research instrument indicated the maintenance of improper and inadequate records coupled with the fact that cost methods used‚ through sometimes effective‚ were unconventional. For a small scale business to approach profit maximization level‚ it must be effective in cost control procedures and appropriate books
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198 Accounting Standard (AS) 14 (issued 1994) Accounting for Amalgamations Contents INTRODUCTION Definitions EXPLANATION Types of Amalgamations Methods of Accounting for Amalgamations The Pooling of Interests Method The Purchase Method Consideration Treatment of Reserves on Amalgamation Treatment of Goodwill Arising on Amalgamation Balance of Profit and Loss Account Treatment of Reserves Specified in A Scheme of Amalgamation Disclosure Amalgamation after the Balance Sheet Date ACCOUNTING STANDARD
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Solutions to Lectures on Corporate Finance‚ Second Edition Peter Bossaerts and Bernt Arne Ødegaard 2006 LECTURES ON CORPORATE FINANCE - (Second Edition) © World Scientific Publishing Co. Pte. Ltd. http://www.worldscibooks.com/economics/6188.html Contents 1 Finance 2 Axioms of modern corporate finance 3 On Value Additivity 4 On the Efficient Markets Hypothesis 5 Present Value 6 Capital Budgeting 7 Valuation Under Uncertainty: The CAPM 8 Valuing Risky Cash Flows 9 Introduction to derivatives
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1 ACCOUNTING 1 (ACN101- M) STUDY UNIT 1: THE NATURE AND FUNCTION OF ACCOUNTING DEFINITION: • • • Accounting can be defined as the orderly & systematic recording of the monetary values of financial transactions of a business The reporting of results Providing financial information as a basis for decision making 3 main processes define the accounting process: 1. IDENTIFYING: Selecting evidence of economic / financial activity (transactions) 2. RECORDING transactions to provide a permanent
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Accounting fraud can be defined as knowingly falsifying accounting records in order to increase sales revenue and net income. Accounting fraud is committed in corporations by means of showing false information‚ using funds for illegal purposes or inflate expenses‚ overstating revenues‚ understating expenses or overstating the value of corporate assets. All these activities are entirely unethical. Behaving ethically depends on the capability to recongnize the ethical issues and to believe on their
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in the 6th grade academic team. Originally it was supposed to me and two other kids on the academic team but that day turned out very differently. It was 7:00 in the Lake Placid Middle School parking lot on a Saturday in May. I was hanging out than my Friend Jacob Sueppel and a few other kids and adults. We were waiting for the two other 6th grade members to come. It has been about 15 minutes and they still haven’t arrived. A few minutes later and Ms.Vipers got a call saying the other 6th grade academic
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Masturbation. It is a common activity practiced by billions around the world. Masturbation is sexual relief‚ learning your body‚ learning what makes you feel good. Yet‚ in every society‚ masturbation is rarely discussed. It is looked down upon by everyone; somehow you are vile for practicing self pleasure. I have always been open about masturbation with my friends‚ but as soon as I bring it up around family‚ shit hits the fan. "I don’t want to hear about that‚ that is disgusting!" I ask my family
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In- House Vs Outsourced Accounting Services We have mentioned time to time how important it is for a business entity to have a good accounting department and have up to date and accurate accounting books. A business entity will require an accounting information so as to enable it manage and control its finances and resources. It also needs it for it to be able to improve on its level of profit earning‚ should it realizes it is declining in its profitability level. But most small to midsized companies
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Jim McFie‚ a Fellow of the Institute of Certified Public Accountants of Kenya FASB (the Financial Accounting Standards Board‚ a US body) was the first organization to develop “Concepts Statements”. All the other “Concepts Statements” have been based on those developed by FASB. A new “Conceptual Framework for Financial Reporting” was worked on jointly by FASB and IASB (the International Accounting Standards Board) and was published simultaneously by FASB and IASB in September 2010. It deals with
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