Slide 1 ACCOUNTING THEORY & CONTEMORARY ISSUES (AT1) MODULE ONE Slide 2 ACCOUNTING UNDER IDEAL CONDITIONS Part 1 - Foundation items re the course Part 2 - Present value accounting under certainty Part 3 - Present value accounting under uncertainty Part 4 - Reserve recognition accounting Part 5 - Examination question examples Part 6 - Historical cost accounting Lecture by: Dr. A. L. Dartnell‚ FCGA Year 2009 - 2010 2 Slide 3 PART 1 Foundation Items re the Course Different Course
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ASSIGNMENT (Stage 1) ACCT 11059 – Using Accounting For Decision Making Prepared By Lingdi Fu (s0210541) Lecturer & Tutor’s Name: Mitch Hsu Due Date: Saturday‚ 4th August 2012‚ 11:00 PM Step1 During carefully and thoughtfully read through the firm’s latest annual report. We can find the company is called GR Engineering Services. It is an Australian Securities Exchange (ASX) listed public company located in 183 Great Eastern Highway‚ Belmont. The principle activities of the company is providing
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Week 4 Checkpoint March 17‚ 2013 XACC/290 Resource: Ch. 4 of Financial Accounting Complete Exercise BE4-1. Complete Problems 4-2A & 4-3A. BE4-1: |Cash |Net Income | |-$100 |$0 | |-$20 |$0 | |+$1‚300 |$1‚300 | |+$800 |$800 | |-$2‚500 |$0 | |-$600 |$0 | | |
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Week 2 I)Frontier Park was started on April 1 by C.J Mendez and associates. The following selected events and transactions occurred during April. April 1 Stockholders invested $40‚000 cash in the business in exchange for common stock. 4 Purchased land costing $30‚000 for cash. 8 Incurred advertising expense of $1‚800 on account. 11 Paid salaries to employee $1‚500. 12 Hired park manager at a salary of $4‚000 per month‚ effective May 1. 13 Paid
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NOTES FROM FIRST ASSIGNMENT 1. Start Journal Entry with Debit (s) on the first line (s) and credit (s) on the next lines‚ e.g.‚ Cash xxx Owner’s Capital xxx 2. No need to write ‘Debit’ and ‘Credit’ when doing a journal entry. Simply indent the credits (including the Account Titles) further to the right and that will signify credits and debits to accountants. 3. Use Account Descriptions that are given in the Problem (e.g.‚ if the problem only has ’Expenses’
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Name: Final Summer 2013 Ex. 198 Use the following information to perform the calculations below (using the indirect method). Clearly label the amount of each answer as positive or negative and show all your calculations. Net income $369‚000 Beginning accounts payable $119‚000 Depreciation expense 97‚000 Ending accounts payable 146‚000 Beginning accounts receivable 420‚000 Purchase of long-term assets 612‚000 Ending accounts receivable 439‚000 Issuance
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QUESTION 1 25 MARKS The following is Whisky Traders’ Trial Balance at the end of its first year of trading‚ 31 August 2010: R R DR CR Bank Overdraft 93 000 Buildings 500 000 Capital ? Petty Cash 3 000 Creditors Control 50 000 Debtors Control 60 000 Equipment 90 000 Investments 90 000 Long term Loans 200 000 Motor Vehicles 120 000 Inventory 200 000 Retained Earnings 420 000 1 063 000 1 063 000 However the following transaction has not yet being taken into account: • A delivery vehicle
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000. c. $34‚000. d. $178‚000. In the U.S.‚ generally accepted accounting principles are established: a. directly by the 1933 Securities Act. b. by the Public Company Accounting Oversight Board. c. by the Financial Accounting Standards Board. d. by the Association of Certified Public Accountants. On March 1‚ 2006‚ the premium on a two-year insurance policy on equipment was paid amounting to $1‚800. At the end of 2006 (end of the accounting period)‚ the financial statements for 2006‚ would
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airlines‚ however accounting for frequent flyer points (FFPs) is not a straight forward process (Bowman 1995). The aim of this assignment is to examine the concept of how FFPs should be accounted for according to the Framework‚ compare how Qantas Airways Limited (Qantas) and Virgin Blue Holdings Limited (Virgin) account for FFP’s‚ and determine the potential consequences of different accounting treatments. Accounting procedure for frequent flyer points according to the principles of the Framework
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Creative accounting refers to accounting practices that seem to follow the letter of the applicable accounting standards but deviate from the spirit of those standards. It is the use of accounting methods to hide aspects of a company’s financial dealings in order to make the company appear more or less successful than it is in reality. In other words‚ Creative accounting is the transformation of financial accounting figures from what they actually are to what preparers desire by taking advantage
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