INCENTIVES FOR INVESTORS The government has come up with a liberal program of fiscal and non-fiscal incentives to attract foreign capital and technology that complements local resources. Different incentives schemes are available relative to the location and registration of the proposed business activity. Thus‚ there are several options for an enterprise to choose from : A. Projects Registered at the Board of Investments (BOI)E.O. 226 The BOI‚ an agency under the Department of Trade
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Name____________________________________________________ Bus 220 Quiz Chapters 5 and 6 1. The primary responsibility for the information reported by a company rests with A) the Internal Revenue Service. B) the company’s auditors. C) the local city council. D) the sales clerk supervisor. E) the company’s management. Answer: E 2. The qualitative characteristic that says accounting information can influence users’ decisions is
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living away from home which can create problems for both the student and their families financially with both the high costs involved in sending a student to university and the difficulties the student faces themselves in budgeting their weekly allowance. Many students struggle to prioritise their money correctly and often spend more money on socialising weekly than on the essentials such as food‚ and often there is little or no money left to put towards books and curriculum based activities. For
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sales returns and allowances‚ sales discounts‚ net sales‚ cost of merchandise sold‚ gross profit‚ operating expenses‚ operating cycle‚ purchase discounts‚ purchase returns and allowances‚ FOB shipping point‚ FOB destination‚ and inventory shrinkage. 2. Be able to prepare a multiple step income statement. 3. Be able to prepare the journal entries for the seller and buyer including the payment of freight. Study EX 5-26 and 5-27. 4. Know how to interpret discount terms. 5. How
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(1) Consolidated Statement of Income Operating Revenues Revenue from services Sales revenue Less: Credit Card Discount Less: Sales Discount Less: Sales Returns & Allowances Total revenues Operating Expenses Cost of goods sold Salaries expense Rent expense Advertising expense General and administrative expenses Depreciation expense Other operating expenses Total expenses Operating Income Other Items Investment income Interest expense Loss on PPE sold Income before Income Taxes
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TEST OF CONTROLS – REVENUE TRANSACTIONS |Audit Objective |Audit procedure |Findings | |General | | | |Validity |Observe
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A seller charging competing buyers different prices for the same "commodity" or discriminating in the provision of "allowances" — compensation for advertising and other services — may be violating the Robinson-Patman Act. This kind of price discrimination may give favored customers an edge in the market that has nothing to do with their superior efficiency. Price discriminations are generally lawful‚ particularly if they reflect the different costs of dealing with different buyers or are the result
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Equity Method If owned shares are 25% or more then Significant influence so Equity Method is used eg. Take 25% of income Investment Income = Less % of Dividends Paid + % of Net Income + Impairment Calculation + Amortization of Excess Payment of FV of Assets Note: Do not record Share Price Increase or Decrease 2013-24‚ 2013M1-31‚ 2008-82 Co. Q’s share of the excess of fair value over book value of the asset should be amortized over the life of the asset and charged
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08140700100000004962525AllRound Marketing Plan Group 8: Heather Smith Anna Graham 00AllRound Marketing Plan Group 8: Heather Smith Anna Graham Table of Contents TOC \o "1-2" \n "2-2" \h \z \u Executive Summary PAGEREF _Toc340506951 \h 2Description of Organization2 Mission StatementOrganization DepartmentsSituational Analysis4 SWOTBusiness Portfolio AnalysisMarketing MixExternal Situation AnalysisComponents of Competition Consumer Analysis Industry RegulationsPlanning Assumption
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Chapter 01 1. The business entity assumption requires that a business be accounted for separately from other business entities‚ including its owner or owners. 2. The four basic financial statements include the balance sheet‚ income statement‚ statement of retained earnings and statement of cash flows. 3. A balance sheet covers a period of time‚ such as a month or year. 4. The income statement shows the financial position of a business on a specific date.
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