ACC 206 Week Three Assignment Please complete the following five exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document‚ and submit it in the appropriate week using the Assignment Submission button. 1. Overhead application: Working backward The Towson Manufacturing Corporation applies overhead on the basis of machine hours. The following divisional
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There is no impairment of goodwill. It is group policy to value non-controlling interest at full fair value. At the acquisition date the non-controlling interest was valued at $9‚000. Prepare the consolidated statement of financial position of Ping @ 30.6.X8. Statement of Financial Position @ 30.6.X8: Ping Co $ Pong Co $ ASSETS Non-current assets Property‚ plant & equipment 20‚000 ordinary shares in Pong at cost Current assets Inventory Owed by Ping Co Receivables Cash 50‚000
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There are quit a few differences in financial and managerial accounting‚ the first differences has to do with the primary users of the reports; in financial accounting the reports are used by external users such as stockholders‚ creditors and regulators. On the other hand managerial accounting reports are used by internal users and include officers and managers. In addition the type and the frequency of the reports differ; financial accounting have financial statements and quarterly and annually
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Abstract The purpose of this essay is to illustrate the complexity meanings of financial reporting reflect the reality and it can be the creator of social reality. Financial reporting should have an objective “truth” and “fair” view and prepare a faithful presentation for shareholders to deal with the investment. Accounting theory need to continuous change its standards or models in order to meet the future needs. This easy also discuss this statement which relate to the sustainability issues
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Managerial Accounting What Does Managerial Accounting Mean? - The process of identifying‚ measuring‚ analyzing‚ interpreting‚ and communicating information for the pursuit of an organization’s goals. This is also known as "cost accounting." - Managerial accounting is used primarily by those within a company or organization. Reports can be generated for any period of time such as daily‚ weekly or monthly. Reports are considered to be "future looking" and have forecasting value to those within
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vsrdjournals.com / 103 RESEARCH COMMUNICATION IFRS IMPLEMENTATION “ISSUES AND CHALLENGES FOR INDIA” 1 B. 1 Associate 2Researsh Kapoor and 2Jyoti Ruhela* Professor‚ Scholar‚ 1‚2Department Commerce & Business Administration‚ MMH College (CCS University)‚ Ghaziabad‚ Uttar Pradesh‚ INDIA. *Corresponding Author : jyotimbaicfai@gmail.com ABSTRACT Today is the era of globalization. IFRS is spreading its wings and India is not the exception. In India IFRS is being implemented in phased manner. Till
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10 Principles of Financial Management The 10 simple principles that do not require knowledge of finance to understand. However‚ while it is not necessary to understand finance in order to understand these principles‚ it is necessary to understand these principles in order to understand finance. Keep in mind that although these principles may at first appear simple or even trivial‚ they will provide the driving force behind all that follows. These principles will weave together concepts and techniques
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Financial accounting refers to accounting and oversight of the companies have completed a comprehensive system of campaign funds‚ that the external economic stakes of investors‚ creditors and the government departments concerned and enterprises to provide economic information of the financial position and profitability as the main target carry out economic activities. Financial Accounting is an important foundation work of modern enterprises‚ through a series of accounting procedures‚ provided useful
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一、资产类 Assets 流动资产 Current assets 货币资金 Cash and cash equivalents 1001现金 Cash 1002 银行存款 Cash in bank 1009 其他货币资金 Other cash and cash equivalents 100901 外埠存款 Other city Cash in bank 100902 银行本票 Cashier’s cheque 100903 银行汇票 Bank draft 100904 信用卡 Credit card 100905 信用证保证金 L/C Guarantee deposits 100906 存出投资款 Refundable deposits 1101 短期投资 Short-term investments 110101 股票 Short-term investments - stock 110102 债券 Short-term investments - corporate bonds 110103 基金 Short-term investments - corporate funds
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................................................ 22 Accounting changes and prior period adjustments ............................................................ 24 4. Comprehensive income ................................................................................................ 31 5. Balance sheet and disclosures overview .......................................................................... 36 6. Interim financial reporting ..........................................
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