Accounting Homework Individual Chapter 7 Question 1&2 1. (a) What are generally accepted accounting principles (GAAP)? In the U.S.‚ generally accepted accounting principles‚ commonly abbreviated as US GAAP or simply GAAP‚ are accounting rules used to prepare‚ present‚ and report financial statements for a wide variety of entities‚ including publicly-traded and privately-held companies‚ non-profit organizations. (b)What bodies provide authoritative support for GAAP
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correct picture on the firm’s financial performance and financial position. We have to recognize all transaction occurring in that accounting period‚ irrespective of whether cash has been received or paid. The ultimate objective of adjusting entries is to ensure that the revenues (income) earned in the accounting period are matched by all costs incurred for that same accounting period (Monash College‚ 2011). Prepayment There are two types of adjusting entries‚ prepayments and accruals. Prepayment is
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Objective 1. Determine the total considerations transferred. 2. The land and buildings should be recorded on the premise of “in-use” or “in-exchange”. 3. Determine the fair value recorded for the intangible assets. Applicable accounting pronouncement ASC 805-20-25 Business Combinations-Identifiable assets and liabilities and any non controlling interest-Recognition Recognition Conditions 25-2 To qualify for recognition as part of applying the acquisition method‚ the
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[APC309 STRATEGIC MANAGEMENT ACCOUNTING Individual Assignment : Task a and Task b ] Table of Contents Part a 1.0 Introduction to performance management …………………………………………………………………………….2 2.0 EVA and ROI ……………………………………………………………………………………………………………………………2 3.0 Mangers orientation due to using EVA and ROI……………………………………………………………………….3 4.0 Overcoming the short term nature of EVA and ROI………………………………………………………………….4 5.0 Appendix…………………………………………………………………………………………………………………………………8 Part b 1.0 Introduction
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Introduction The place of measurement is crucial in accounting. Measurement is vital to accountants for recording‚ summarising‚ reporting financial transactions and preparing financial statements that should indicate the true position of an entity. However‚ accounting measurement issues are seen to be problematic as many measurements are derived. According to Mary E. Barth (2007)‚ an analysis regarding the latest activities of the International Accounting Standard Board (IASB) have revealed that the
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to suppliers. Liability (D) Bonds payable. Liability (E) Amount earned from selling a product. Revenue (F) Cost of advertising. Expense Part 2 Ex 1-8 (A) An expression about whether financial statements conform with generally accepted accounting principles. – 8 Auditors opinion (B) A business that raised money by issuing shares of stock. – 1 Cooperation (C) The portion of stockholders’ equity that results from receiving cash from investors. – 6 Common Stock. (D) Obligations to suppliers
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The Role and Representation of Women: How they are Expressed Through Fashion Fashion‚ style and trends have always been a hugely important part of women’s lives‚ being a major creative outlet for women throughout the ages. But these trends are much more than just picking out something to wear each day from a cupboard of clothes: fashion is a way of expressing the role of women in society and how important and independent they are‚ and although style changes appear to be rapid and trivial‚ there
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FABRIC WEAVES AND ITS REPRESENTATION Dr. Shashikant Shashikant Borkar Professor‚ Textile Manufactures Department VJTI‚ VJTI‚ H. R. Mahajani Marg‚ Matunga‚ Mumbai – 400 019 Topics Covered • • • • • Interlacement of warp & weft and its representation on point paper. Design‚ draft and peg-plan Representation of Design‚ Draft‚ peg plan and denting on point paper. Simple weaves-plain‚ twill and sateen/satin. Ornamentation and derivatives of plain weave‚ rib and cord structures‚ derivatives of twill
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1998: “Too many corporate managers‚ auditors‚ and analysts are participants in a game of nods and winks. In the zeal to satisfy consensus earnings estimates and project a smooth earnings path‚ wishful thinking may be winning the day over faithful representation.”1 Earnings management means manipulating reported earnings so that they do not accurately represent economic earnings at every point in time. Earnings smoothing is a special case of earnings management involving intertemporal smoothing
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The Miss Representation video was sending a message about how media plays a big role in the sexually objectifying woman. The video provides a lot of information including statistics and interviews of women themselves and men stating facts and their opinion of the discussion. The video has a very informative and serious tone to it‚ the background music was very settling and calm then it would switch to a very fast beat making that piece a little more dramatic. There are many different forms of media
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