footnotes carefully. Identify four accounting policy changes and accounting estimates that Harnischfeger made during 1984 and estimate as accurately as possible the effect of these changes on the company’s 1984 reported profits? One accounting change that Harnischfeger made was that they were going to include products purchased from Kobe Steel in their net sales. Before November 1‚ 1983 only the gross margin on Kobe products was included in their net sales. Harnischfeger was also going to include
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December 26‚ 2014 Student Name: Nguyen Hoang Dung Student Number: 1132300178 HDT TRUCK COMPANY Capacity Using one shift‚ 2 trucks assembled / day Maximum: 3trucks/ day for large order of identical trucks At least 4months backlog of orders Issue Received an order of 50 heavy trucks from Saudi Arabia Deliver on or before July 1‚ 2003at Port of Doha Received $172‚000/truck in U.S funds FAS at Doha Production: 50-truck order is scheduled from April 2 - April 29 (2.5trucks/day) Shipping Charter from
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roads is very poor and deplorable. The rate at road-accidents and fatality in the country is very high. Pressure on roads has been on increase and the number of vehicles is increasing by leaps and bounds. Lack of road-sense has further complicated the matters. Driving licenses are given on illegal gratifications to the authorities and traffic rules and regulations are thrown to the winds. Overloading is one of the major factors of road- accidents and deaths. The condition of the vehicles is hardly
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Unit-of-measure assumption. c. Continuity assumption. * d. Separate-entity assumption. 2. Sales revenue should be recognised when goods and services have been supplied; costs are incurred when goods and services have been received. Which accounting concept governs the above? a. The prudence concept b. The materiality concept c. The accruals concept * d. The dual accept concept 3. Which accounting concept requires that foreseen losses should be anticipated and taken into account immediately
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IDENTIFICATION CONTROL AND PREVENTION OF SOME CONSTRUCTION SITE ACCIDENTS PROPOSAL 1.0 INTRODUCTION The construction sector has been ranked as the industry with the highest number of occupational injuries that are both fatal and non fatal. When big construction jobs are initiated‚ such as building a new housing or shopping complexes‚ there is a great deal of movement going on in a small area. Cranes‚ trucks and diggers are all vying for space to complete their project in a timely manner. Every
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Professor: Carolyn Nathan Comm.103 March 14‚ 2013 Informative Outline Specific Purpose: After my speech my audience will know the history of energy drinks‚ side effects and what is in them. I. Introduction A. Attention Getter: (When you feel run down or tired what do you reach for? If you are like me or any other person you probably go for an energy drink. ) B. Reason to listen: (Have you seen people who consume more than 2 energy drinks in one day‚ I know you know how bad
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2. Know the definitions of revenues and expenses 3. Know the difference between internal and external users 4. FASB – responsible for GAAP (accounting principles) 5. Accounting Equation 6. Know the 3 activities that business engage in and give examples of each activity. (These 4 questions also relate to Chapter 12‚ The Statement of Cash Flows) 7. The International Accounting Standards Board is responsible for developing a single set of worldwide accountings standards (IFRS). 8. These
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04/30/2012 Loving the food truck trend. This year during my spring break‚ I travelled to New York City. It was impossible not to notice the large amount of trucks serving food all across the Prince street of SoHo‚ and the huge quantity of customers lined up waiting anxiously for their food to be served. The food looked simple‚ but well presented in small paper plates. Everything from tacos‚ to sandwiches to Greek gyros were provided by these trucks. More than food‚ the trucks seemed to be providing
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Chapter 6: Revenue RecognitionRead: Chapter 6 and partly 13 on warrantyIn-class exercises: BE6-7‚ EX6-11‚ EX6-9‚ EX6-16‚ EX6-18 Practice exercises: EX6-7‚ BE6-11‚ P6-1‚ P6-2‚ E13-17 There are two main conceptual views on how to account for revenues/sales: Earnings approach Contract-based approach Earnings Approach Revenues are recognized when the following criteria are met: 1. Performance is achieved: a. risks and rewards transferred and/or earnings process substantially complete‚ and
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in visual areas. For example‚ patients CK who lost ability to recognize objects after a car accident performed perfectly on the tasks of face recognition. () Meanwhile‚ many cases of patients who suffered prosopagnosia‚ their ability of object identification remains intact. It suggests there is a double dissociation between face and object recognition. Although it helps us to know face and object recognition may not activate the same region of the brain areas‚ we do not know yet which areas are responsible
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