3101AFE TUTORIAL 2 - Semester 2 2013 Deegan Topics 2 and 3: The financial reporting environment and Regulation of financial accounting 2.1 What expectations do accounting standard-setters have about the accounting knowledge of financial statement readers? Accounting standard-setters have an expectation that the readers of general purpose financial reports have a ‘reasonable knowledge’ of accounting. Specifically‚ the IASB Framework states that ‘users are expected to have
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Financial statements are essential accounting tools which include balance sheets‚ cash flow statements‚ and income statements that provide information on a company ’s past and present financial history. Information on financial statements can be used by any number of public and private entities to determine if an organization ’s financial status is healthy. Burger King and McDonald ’s are two organizations that use financial statements in conducting business. Further‚ this paper will discuss the
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Financial Management – Handout »Balance Sheet - Statement of financial positions on a specific date * Book value: value on balance sheet (historical cost) * Market value: value of assets depends on riskiness‚ cash flows * Balance sheet identity: Assets = Liabilites + Shareholders‘ equity * Debt versus equity: Shareholders equity = Assets + Liabilities * Financial leverage: the more debt‚ the greater its degree of financial leverage »Income
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What would happen if one day I wake up and find out that one of my sense organs is not functioning? It would be totally devastating for me and difficult to adapt to the situation at the time. I value my sense organs so much because they all are important to how I function. My sense organs perform various functions and I am used to them being there for me. Pain is an unpleasant feeling‚ it originates from point of contact and its sensation moves from the point of contact to the rest of the body.
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ASSESSMENT OF FINANCIAL STATEMENTS Assessment of Financial Statements Judith A Vicks FIN7014-8: Managing Financial Institutions Dr. Ekanayake: Northcentral University June 23‚ 2013 ASSESSMENT OF FINANCIAL STATEMENTS Abstract It is important to understand the differences in how earnings and liabilities are generated or reported for different financial institutions. This paper will describe key points regarding the balance sheets of different financial institutions. Commercial
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education means to reject our own minds. To ask what is wrong with the idea of education‚ then‚ is to ask what is wrong with modern economic society. It is really difficult to imagine the world without education. First of all‚ without education‚ technology would not exist. There would not be any facilities that make life easier. For example‚ it would be impossible for somebody to communicate directly with his/ her relative who lives in a different country. He would not be able to use the telephone as the
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Financial Statements Paper John Doe ACC/290 January 3‚ 2013 Introduction In this paper it will go through: Identify the four basic financial statements‚ describe the purpose of each of the four financial statements‚ discuss how the financial statements would be useful to internal users such as managers and employees‚ and discuss how the financial statements would be useful to external users such as investors and creditors. Identify the
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Contingency plan The contingency plan is to arrange in advance for an emergency event that may or may not happen. Single points of failure are really the central focus of contingency planning. Any time there is a failure of one of these elements‚ it can seriously risk our revenue stream and service to your customers. We have prepared contingency plans for customer online private security problem‚ server crashes‚ and factory emergency. * Customer private information security:
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effect in the first year would be an equal decrease in both the numerator (adjusted net income) and the denominator (average total assets) of ROA. Because net income is substantially smaller than average total assets‚ the percentage decrease in the numerator would be greater‚ and ROA would be understated. However‚ in the next two years‚ net income would be overstated because it is not burdened by a depreciation charge‚ average total assets would remain understated‚ and ROA would be overstated. b.
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U06A1 – Technologies for Client Requirements Assessment May 29‚ 2014 Kristal Singletary Capella University MBA-FP6182 – Impact of Advances in Information Technology Instructor: Joe Johnson Executive Summary The City of Augusta‚ Georgia’s municipal government originally contracted with Bi-Tech‚ Inc. (now Sungard) in 1997 to supply Enterprise Resource Planning (ERP) software to manage financial‚ procurement‚ and human resources management processes in the city. A progressively growing company‚
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