TABLE OF CONTENTS - CHAPTER 11 I. CHAPTER 11 – INVENTORY 1 II. OVERVIEW AND OBJECTIVES 1 A. Overview 1 B. Objectives 1 III. DEFINITION OF INVENTORY 1 IV. INTERNAL CONTROLS 2 V. ESTABLISHING AND MAINTAINING AN INVENTORY 2 VI. VALUING THE INVENTORY 4 A. FIFO 5 B. Weighted Average 6 VII. YEAR-END PHYSICAL INVENTORY 7 VIII. EXHIBITS 8 CHAPTER 11 – INVENTORY The purpose of this chapter of The Guide is to explain the concept of inventory and to discuss the policies‚ guidelines
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Chapter 12 Corporate Valuation and Financial Planning ANSWERS TO END-OF-CHAPTER QUESTIONS 12-1 a. The operating plan provides detailed implementation guidance designed to accomplish corporate objectives. It details who is responsible for what particular function‚ and when specific tasks are to be accomplished. The financial plan details the financial aspects of the corporation’s operating plan. b. Spontaneous liabilities are the first source of expansion capital as these accounts increase
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THE CHINESE UNIVERSITY OF HONG KONG School of Accountancy ACCT 3111 Financial Reporting I Sections A (Mon 08:30 – 11:15 pm) & B (Wed 08:30 – 11:15 pm) & C (Fri 08:30 – 11:15 am) (First Term‚ 2014-2015) INSTRUCTOR Name: CHIU‚ Peng-Chia Office: Room 1015‚ 10/F‚ Cheng Yu Tung Building Telephone: 3943-7835 Email: chiupc@cuhk.edu.hk Office hour: Friday 3:30-5 pm or by appointment Course website: https://elearn.cuhk.edu.hk TEACHING ASSISTANT Name: Wilburn Tsang Office Location: Room 1049‚ 10/F
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BDP 301: Principles of Business Syllabus November 25‚ 2009 version The University of Texas at Austin School of Undergraduate Studies Professor Michael Brandl (See information below) Unique: 63610 Spring 2010 Lecture: 2:00-3:15pm TTh in GSB 2.126 Professor Contact Information Email: michael.brandl@mccombs.utexas.edu Office: CBA 2.212 Office Hours: Tu Th 12:30 to 2pm and by appointment Office Phone: 512-232-3355 Course Description The vast majority of non-business majors will‚ at some point
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Review sheet Test 2 Chapters 4 & 5 (33 Multiple choice) Chapter 4 ▪ Definitions or calculations presentation on financial statements- Net Sales‚ COGS‚ gross profit‚ selling and administrative expenses o Sale - sale discount = Net sales o Net sale – COGS = Gross profit o Sale discount + net sale= sale o Sale – net sale = sale dis o Net sale – gross profit= COGS New asset -> inventory Expense -> COGS Revenue -> sales Contra revenue (debit)
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information‚ 4‚consequence providing wrong information to users. 2. How is materiality (and immateriality) related to the proper presentation of financial statements? Start with what is materiality Proper presentation of FS is complying with acct standards‚ true information. in terms of true and fair the amount is correct‚ no mistake. Any mistake‚ which like is more than this level‚ we will considered as material mistake‚ and auditor can collect and find evidence all the amount and transactions
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“You better run‚ you better do what you can‚” These lyrics come from the song “Beat It” by Michael Jackson. A girl from the short story “Priscilla and the wimps” did the exact opposite of that. She was not afraid of anyone‚ in fact‚ she did not even know who the big bad bully was. Richard Peck‚ who wrote the short story‚ “Priscilla and the wimps” uses caricatures and comic language to show the universal truth to stand up for others by using one’s advantages‚ such as being tall. Peck used caricatures
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The Human Resource Management Concentration is designed to prepare students for a career in the HR field. Graduates of the program will possess the basic‚ technical‚ theoretical and application skills required for HR positions in industry‚ government and nonprofit organizations. What is Human Resource Management? • HRM includes all management decisions and practices that directly impact or influence the people who work for an organization. • HRM recognizes that employees enable an organization
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ACCT 1150 Jex Chapter 1 End of Chapter Questions True/False 1. True 2. True 3. False 4. False 5. False 6. False 7. True 8. True 9. True 10. False Multiple Choice 1. C. qbw 2. B. Chart of Accounts 3. A. Are keyboard command shortcuts 4. A. Give commands to QuickBooks 5. B. An adding machine tape 6. A. Allows you to give commands to QuickBooks according to the type of transaction being entered 7. B. A picture 8. B. Help 9. D. A backup file 10. The title bar Fill-In
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Professor Moon Acct 201: Thurs 6:50pm Chapter 3 Chapter 3 Homework Discussion Questions: 3. State briefly the rules of debit and credit as applied to asset accounts and as applied to liability and owner’s equity accounts. a. Debit: all asset accounts normally have debit balances. The increase was greater than the decreases and the result was a debit balance in the account. The fact that assets are located on ht left side of the balance sheet is a convenient means of remembering the rule that
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