1. What is the FASB Accounting Standards Codification? The FASB Accounting Standards Codification® is the source of authoritative generally accepted accounting principles (GAAP) recognized by the FASB to be applied to nongovernmental entities. 2. When did the codification become effective? The Codification is effective for interim and annual periods ending after September 15‚ 2009. 3. The FASB had three primary goals in developing the Codification. Identify them. a.
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CHAPTER 2 CONCEPTUAL FRAMEWORK UNDERLYING FINANCIAL ACCOUNTING IFRS questions are available at the end of this chapter. TRUe-FALSe—Conceptual Answer No. Description F 1. Nature of conceptual framework. T 2. Conceptual framework definition. F 3. Levels of conceptual framework. T 4 International conceptual framework. F 5. Statements of Financial Accounting Concepts. T 6. Decision usefulness.Objective of financial reporting. F 7. Financial statement users. T 8. Relevance and
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COMPREHENSIVE EXAMINATION E PART 5 (Chapters 18-21) Approximate Problem Topic Time E-I Long-Term Contracts. 15 min. E-II Installment Sales Method. 20 min. E-III Deferred Income Taxes. 25 min. E-IV Pensions. 15 min. E-V Leases. 25 min. 100 min. Problem E-I — Long-Term Contracts. Edwards Company contracted on 4/1/14 to construct a building for $2‚400‚000. The project was completed in 2016. Additional data follow: 2014 2015 2016 Costs incurred
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Name Chapter 4--Profitability Analysis Description Instructions Modify Add Question Here Question 1 Multiple Choice 0 points Modify Remove Question One important difference between return on assets (ROA) and return on common shareholder’s equity (ROCE) is Answer ROA does not differentiate based on how a company finances its assets‚ ROCE does. ROA does not distinguish between the different types of income items‚ such as income from continuing operations‚ discontinued
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October 2013 Stage fright It was back in elementary school in Vietnam when I first realized that I enjoyed performing in front of an audience. Everyone gathered outside at the school’s field to honor the teacher. I walked out with my quartet singing group to perform a children song relating to respecting teachers. Being an elementary student and performing within a group made it comfortable for me to perform confidently in front of the
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outside world. But does it really help? My friends sister was upset with her parents for raising her in such a sheltered environment. When she went away to college‚ she got a taste of what the real world was really like. These days‚ an average elementary school student knows many things. They are influenced by a wide range of sources‚ from television and other forms of media‚ their environment at home and school‚ to their personality and background. What they read does not necessarily mean that
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On September 19th‚ 2016 I went to Wenonah Elementary School in Lake Grove‚ New York. I made an observation at the beginning of the day in Mrs. Cosenza first grade class. The purpose of this observation is to observe and evaluate the standards and correlations between teachers and students within the classroom during an activity. One observation would be planned by the teacher/aid and another one would be an activity that was initiated by a student or a group of students. Class started at 9:15am
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The world modernizes every day. From Japans high tech city of Tokyo to political indifferences of the United States of America causing the Government to go on lockdown. Mankind is rapidly changing and these rapid changes came from the products of mankind’s thoughts. “A man is but the product of his thoughts what he thinks‚ he becomes.” –Mahatma Gandhi. Before any action is made‚ one person thought about it first. Looking back at history‚ most of the significant movements were caused by one person’s
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1.0 INTRODUCTION 1.1 Background of study Over the past 10 years‚ Malaysia’s media environment has been transformed by the explosion of the Internet and‚ since 2008 the most of people use the internet for various function such as doing business‚ education‚ get the information and entertaiment. For the education and business‚ the internet give great impact to them who are involve in dealing the business and education. Today most of us like to run the online business because there are several
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Despaigne 1 Doris Despaigne Professor Mercier English 120 29 September 2014 Who Will Fight for Them “The Red Convertible‚” by Louise Erdrich‚ reveals how an individual who served in a war fights an internal war upon returning home. Henry‚ a Native American United States Marine‚ returning home from the Vietnam War‚ wrestled with such a battle which ultimately severed the loving bond he shared with his brother. The brotherhood between Lyman and his older brother Henry was solid and the red Oldsmobile
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