Part 3 The bankruptcy of Enron not only significantly impact the employment and pension of workers‚ but also the relevant major financial institutions‚ including investment Banks‚ commercial Banks‚ pension funds and mutual funds. On Feb. 14th‚ 2002‚ the international accounting standards foundation chairman and former Federal Reserve chairman Paul pointed out that the obvious problems in accounting and auditing profession has formed a kind of crisis after a long-term period of existence. A typical
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ACCT301 Week 2 Homework 1. In two to three paragraphs‚ describe the Sarbanes-Oxley Act and why it is important to the accounting profession. (15 points) Sarbanes-Oxley Act was created in order to ensure that controls were implemented and monitored by the regulating authority. Congress wanted to make sure that there was a specific standard and guideline for companies to follow in order to prevent fraud at such a large scale. When followed correctly there are controls set in place that are internal
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On October 1‚ Keisha King organized Real Answers‚ a new consulting firm; on October 3‚ the owner contributed $84‚000 cash. On October 31‚ the company’s records show the following items and amounts. Cash $ 11‚360 Cash dividends $ 2‚000 Accounts receivable 14‚000 Consulting fees earned 14‚000 Office supplies 3‚250 Rent expense 3‚550 Land 46‚000 Salaries expense 7‚000 Office equipment 18‚000 Telephone expense 760 Accounts payable 8‚500
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–exam1-01/02/2012 Questions 1 thru 5 are True or False‚ 6 thru 11 are multiple choice 1) The marginal tax rate is useful in tax planning because it measures the tax effect of a proposed transaction. True. 2) If a taxpayer’s total tax liability is $30‚000‚ taxable income is $100‚000; the average tax rate is 30 percent. True. The average tax = total federal income tax divided by taxable income 3) S Corporations (pass thru entities) result in a single level of taxation. (Are not
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Class Act Class Act has concluded that the full agreement consideration of $5 million should be recorded as revenue upon signing the agreement. I do not think this is appropriate method to recognize revenue. According to FASB‚ a company would apply the following five steps to achieve the core principle: (1) identify contract with the customer. (2) Identify separate performance obligations. (3) Determine transaction price. (4) Allocate transaction price. (5) Recognize revenue when performance obligation
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Has 505 The major online computer services such as Health Grades‚ America Online Inc.‚ and WebMD provide health news and medical and health forums where users can access medical libraries‚ exchange messages‚ and discuss health problems. In what ways might the growing use of these services by consumers affect future strategies for: Family practitioners? HMOs? Technology refers to the innovations or inventions from applied science and research. According to the book‚ adult use of the Internet
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7/22/2013 ACCT 90004 Accounting for Decision Making Brad Potter Room 7.064‚ 198 Berkeley Street Tel: 8344 4989 bnpotter@unimelb.edu.au 1 1 7/22/2013 Subject Overview Introduction • This subject provides a broad introduction to the accounting process‚ accounting information systems and the language of accounting. • It is designed to enable you to become an informed preparer and user of accounting information. • Successfully completing this subject will also assist you
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DEVRY UNIVERSITY Comcast Corporation Financial Analysis of 2013 Annual Reports Intermediate ACCT II project 6/15/2014 Analysis by Page Table of Contents Introduction The Comcast Corporation is the largest cable and home internet provider in the United States. The company functions as a cable provider and ISP‚ including telephone services for residential and commercial customers throughout the US. This makes Comcast a central focus for both customer and competitor criticism
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Assignment: ACCT 108 1. Personal Computer Specifications – Processor‚ Intel Core i5-3317U‚ 1.7 GHz speed‚ 2MB cache‚ 24GB SSD‚ 750 GB HDD‚ 6GB RAM DDR3 1600MHz. Dual Layer DVD+/-RW‚ Memory card reader‚ Integrated microphone input/output‚ Digital Audio Output‚ Webcam‚ Touchpads 2‚ 2 USB 2.0 Ports‚ 1 USB 3.0 Port‚ Ethernet‚ Integrated Wi-Fi‚ Windows 8 Operating System I prefer to look for desktop‚ with big screen‚ high speed‚ and lots of storage. I checked the Future shop and gave
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inventory account balance to reflect the results of the ending inventory physical count. Calculate cost of goods sold using the results of an inventory count and understand the impact of errors in ending inventory on reported cost of goods sold. ACCT-5031 Obtaining an
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