current ratio | current liability | 1. Liquidity * Current Ratio : current ratio - inventory | current liability | * Acid Test Ratio : * Net Working Capital : current asset – current liability COGS | Inventory | 2. Activity * Inventory Turnover : account receivable | average sales per day | * Average Collection Period : account payable | average purchases per day | * Average Payment Period : sales | total assets | * Total
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CA1-1 1. True. 2. False. Any company claiming compliance with IFRS must comply with all standards and interpretations‚ including disclosure requirements. 3. False. The SEC is the governmental body that has influence over the FASB‚ not the IASB. 4. True. 5. False. The IASB has no government mandate and does follow a due process in issuing IFRS. CA1-3 CA1-3 (Financial Reporting and Accounting Standards) Answer the following multiple-choice questions. 1. GAAP stands for: ANS: D) generally
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entity. (b) The income statement shows tax being deducted directly from company profit. The equity section show contributed equity instead of owners or partners’ equity. Also retained earnings after dividends or allocation to another equity account. 2. (a) Net assets and total equity have the same dollar value of $775‚704‚000. (b) Equity is the residual interest in the assets of the entity after deducting all its liabilities. 3. The finanical statements include the assets‚ liabilites and
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Course Project This paper analyzes a fictional privately held company‚ Smackey Dog Foods‚ Inc. as well as its fictional auditor‚ Keller CPAs. The analysis is based on a Keller Graduate School of Management scenario and a series of questions developed to address concepts learned throughout the External Auditing course. Concepts include: SEC influence‚ audit planning‚ audit stages‚ internal controls‚ confirmations‚ sample size‚ obtaining evidence‚ inventory‚ warehousing cycles‚ Professional Rules of
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Finance Theory I – Case 2 Tracy Hsiao‚ Baltic Ocean Evaluation of AQR Momentum Funds Date: Dec. 5th‚ 201r Past performance of momentum strategies – CAPM & Fama‐French MOM 4 factors model In Table 1‚ we could evaluate the past performance of momentum strategy‚ Short Decile 1 and Long Decile 10‚ a.k.a. L/S (10‐1). Capital Asset Pricing Model (CAPM) E(R) = α + Rf + β (RM - Rf) + By applying to CAPM‚ we got a β that is almost zero (-0.08) showing the strategy could effectively diversify and reduce
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The Wallace Group; Laurence J. Stybel | | | Case 2 The Wallace Group‚ Inc. I. CASE ABSTRACT Harold Wallace‚ founder‚ serves as Chairman and President of the Wallace Group. He owns 45 percent of the outstanding stock. The company consists of three operating groups?Electronics‚ Plastics‚ and Chemicals‚ which generate sales of $70 million. Mr. Wallace continues direct operational control over the Electronics Group. Several years ago‚ Wallace and the Board embarked on a strategy
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information‚ and distributed to users. AIS vs. MIS AIS process: Financial transactions; e.g. sales of goods And nonfinancial transaction 1. Data collection Capturing transaction data Recording data onto forms Validating and editing the data 2. Data (Transaction) Processing Classifying Transcribing Sorting Batching Merging Calculating summarizing Comparing 3. Data Management Storing Retrieving Deleting 4. information generation/ analysis Compiling Arranging Business
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1. Two primary external users of accounting information are investors and creditors. TRUE 2. The economic resources that are owned by a business are called stockholders’ equity. FALSE 3. Net income for the period is determined by subtracting total expenses and dividends from revenues. FALSE 4. The heading for the income statement might include the line “As of December 31‚ 20xx.” TRUE 5. Net income is another term for revenue. FALSE 6. The primary purpose of the statement of cash
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Name: _____________________________________ Date: _________________ Third Midterm -- Chapters 8‚ 9‚ 10 & 11 100 points Key Section Possible Points True/False Multiple Choice Problems Total 25 24 55 104 Your Score Your Points ___________ Be legible!!!! (If I can’t read what you put down‚ I can’t grade it and I will not guess at what you might have written.) Mark the True/False answers in the appropriate column!! Put the letter answer to the Multiple
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Case report 2 Student ID: XUJD1303 Student name: XU JIAYU Tutor: DOREEN FiELDING 1.0 Introduction Form the given information of this case ‚it tells us that Osim established in 1980‚has occupied the worldwide branded lifestyle product market now. However‚ the success of osim is strongly connecting to its innovation-drive culture and management issue .Rom
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