available from year 2008 • Receipts from customers • Proceed from Interest and bill discounts received • Proceed from sales of plant and equipment • Proceed from issue of equity securities In the beginning of 2009 financial year‚ the company has a balance of $123‚055‚000‚ where the total increase in assets for the year 2009 from year 2008 was only $125‚816‚000. Hence company has not borrowed
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a new bicycle for Christmas and the day hits them like homework on a school night‚ that they most likely forgot about. Many have the audacity to try to learn without training wheels‚ but usually fail. Over time they start to realize there are bigger and better things in life such as learning how to drive a car. They constantly beg their parents to let them practice driving or to get their hands on a pair of new car keys. Both learning how to drive a car and learning how to ride a bicycle surprisingly
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hypothesis and its implications on the information perspective of accounting. As information perspective was later replaced by the measurement perspective‚ we will discuss recent accounting measurement issues‚ including fair value accounting and off-balance sheet liabilities. Positive accounting theory‚ earnings management‚ executive compensation and economic consequences of standard setting will be covered in the last part. Financial Accounting Theory is a rigorous subject requiring not only accounting
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supportive evidence is needed to determine whether apparent misstatements are actually material. e. Describe a situation in which confirmation will be considered highly reliable and another in which it will not be reliable. Confirmation of bank balances is considered highly reliable whereas confirmation of a department store charge account is often not considered reliable. Banks are accustomed to confirmations from auditors and
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DQ 6.1‚ 6.2‚ 6.12‚ 6.13‚ 7.1 P6.9‚ P6.11‚ p7.7‚ P7.9 * 6.1 balance sheet income statement statement of cash flow * 6.2 to disclose the information about the company that may effect future decisions‚ but is not necessarily included in financial statements 6.12 asset must be from a past transaction must have future economic benefit control by the entity 6.13 must have a present obligation obligation involves economic cost in the future * * 7.1 no measurement of environmental
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Quiz 1: 50 points – Due November 8‚ 2008 at Midnight Each question is worth 3.33 points 1. Financial statement ratios support informed judgments and decision making most effectively: a. when viewed for a single year. b. When viewed as a trend of entity data. c. When compared to an industry average for the most recent year. d. When the trend of entity data is compared to the trend of industry data. 2. When comparing entity financial ratios with industry ratios: a. it should be assumed
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ACCOUNTING FOR INTANGIBLE ASSETS “WHY NOT ELIMINATE GOODWILL?” INTRODUCTION The Balance Sheet is one of the financial statements necessary to help different kinds of individuals – owners of enterprises‚ management of companies‚ analysts‚ creditors‚ inventors in making business decisions. It is a statement that tells about the financial position of the company. It encompasses the three main elements of the accounting equation – the assets‚ the liabilities and owner’s equity. The assets are
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Final Exam 1. During a recession‚ unemployment ________ while inflation A. falls; falls. B. rises; falls. C. rises; rises. D. falls; rises. 2. Student A says that customer satisfaction is a mark of a world-class business. Student B says that proactive ethics is a mark of a world-class business. Which student is correct? A. Both B. Student A only C. Neither D. Student B only 3. Which of the following represents the basic accounting equation? A. Owners ’ Equity − Liabilities = Assets B. Liabilities
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Cindy Quinonez How to ride a bicycle Dr Todd General psychology South University 05/02/2013 Abstract This paper will discuss‚ various ways on how to ride a bike. It will teach readers that riding a bike can be as easy‚ as baking a cake. By following this techniques and wearing the proper equipment‚ this techniques will lead you on becoming a successful bicycle rider. And also these instructions will also inform you‚ on what type of injuries you can possibly encounter‚ if you don’t wear the
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across the crowded trade-show floor‚ deep in thought and oblivious to the noisy activity all around her. As CEO of The Eldora Company (EDC) for the previous 13 years‚ she had led her organization through a period of extraordinary success. While larger bicycle makers had moved their manufacturing operations overseas to take advantage of lower labor costs‚ Eldora had stuck with a domestic manufacturing strategy‚ keeping its plant on the same campus as its corporate offices in Boulder‚ Colorado. Ann felt
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