Case 3-6 Accounting Standards A. Given the income statement effects of LIFO versus FIFO‚ how will the balance sheet inventory amounts differ between General Motors and Ford versus Honda and Daimler-Benz? In other words‚ will inventory be reported amounts representing recent costs or older historical costs? In your opinion‚ which balance sheet amounts would be more useful to financial statement users in making decisions to buy or sell shares of a company’s stock? Inventory is an asset that
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not been authorized. *Accounting estimate—An approximation of a monetary amount in the absence of a precise means of measurement. This term is used for an amount measured at fair value where there is estimation uncertainty‚ as well as for other amounts that require estimation. Where ISA 540 2 addresses only accounting estimates involving measurement at fair value‚ the term “fair value accounting estimates” is used. *Accounting records—The records of initial accounting entries and supporting
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HomeWork Week 4 3.2 If a problem is discovered during the budgeting process the manager will be able to create a different plan‚ which will allow them to avoid the problem. 3.12 Predicting anticipated cash shortages is vital for a business. Budgeting allows us to gain an understanding of when these cash shortages might arise and how to best manage them. For example predicting a cash shortage ahead of time will allow applications for loans to be made and hopefully approved depending on current
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an underutilised resource‚ often perceived by headteachers to be a low priority. What should be a vital ingredient of our schools system is marginalised and seems not to be connected with the acknowledged educational priorities of literacy and information skills supporting knowledge acquisition‚
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Deciding a major in college is not always easy. However‚ it is always important to choose carefully because whichever major a new college student chooses will determine the career they will have for the rest of their life. College majors should be chosen carefully‚ and there are a lot of factors that help people decide what to go for. Interests play a great role in choosing a major. It is usually easier to choose depending on the person’s preference or personal taste. Job availability also influences
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brand) and employees’ perceptions of organizational support to a range of employee brand-building behaviors‚ with organizational identification as the key mediating mechanism. Both cross-sectional and longitudinal analyses of employee data from a major retail bank reveal organizational identification as a strong motivational force for employees to become brand champions‚ largely mediating the effects of internal branding outcomes. When organizational identification is low‚ perceived organizational
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variable or semivariable costs accounting rate of return (or simple rate of return‚ rate of return on assets‚ unadjusted rate of return or return on investment (ROI)) the average annual profit from a project‚ divided by the initial investment accumulation factor the value of (1 r)n used in present value and future value calculations activity a unit of work performed in the organisation activity-based budgeting (ABB) a process of building up budgets from the major activities of the business activity-based
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1. Recommend that Major Burcroff‚ be promoted to Major in AFSC C38P3. 2. Major Burcroff has completed the prescribed minimum creditable promotion service on 3 March 2015 and meets the other requirements prescribed in Chapter 3‚ ANGI 36-2504. Request examination by a Federal Recognition Examining Board. 3. Major Burcroff has clearly demonstrated his fitness for the responsibilities and duties of the position and grade for which recommended. He is an indispensable asset to our unit and the Air
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MANAGEMENT ACCOUNTING Information for Decision-Making and Strategy Execution SIXTH EDITION Anthony A. Atkinson University of Waterloo Robert S. Kaplan Harvard University Ella Mae Matsumura University of Wisconsin–Madison S. Mark Young University of Southern California Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City S~ Paulo Sydney Hong Kong Seoul Singapore
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THE HISTORY OF ACCOUNTING By: The Brenna Hillard ANCIENT ACCOUNTING Ancient Egyptian bookkeepers kept meticulous records of the inventory of goods kept in royal storehouses. The accuracy of these records was assured by the swift and severe penalty that came if mistakes were ever discovered. ANCIENT ACCOUNTING (CONTINUED) In Mesopotamia scribes kept records of commerce on clay tablets. In ancient Greece‚ the account books of bankers show that they changed and loaned money and helped people
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