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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I leaned over my dog’s grave it was right next to my grandmothers and my own mother’s beyond that‚ I had never knew my mother‚ she had died not long after I was born. Because of that my father hates me. When I say it like that it sounds bad‚ let me explain as best I can. He doesn’t actively hate me in fact there are times he is almost kind. But there are also times when his hate reveals itself like a snake lashing out to strike at its victim‚ who had never seen it coming. It is times like these when
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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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Literature 151 Professor John Joseph McCann Pride‚ a quality or a flaw? Pride has raised some into great happiness‚ but has also sunk others in failure and despair. In the novel “Fathers and Sons” by Ivan Turgenev‚ is indeed pride that makes the conflict arise. Where a Nihilistic graduate is exposed to a traditional but constantly changing alien society he is not willing to accept. Bazarov discovers that his pride was his biggest determination‚ as well as his biggest obstacle. Ultimately he
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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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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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BIODATA Name : Abdul Razak Father : Dato’ Hussein bin Mohd Taib Mother : Hajah Teh Fatimah bt Daud Born : 11 March 1922 (Pekan‚ Pahang) Spouse : Rahah Noah Children : 5 Profession : Lawyer Position : 2nd Prime Minister of Malaysia Preceded by : Tunku Abdul Rahman Succeeded by : Tun Hussein Onn Political party : United Malays National Organization Died : 14 January 1976 (aged 53) For
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ACC 556 – Financial Accounting for Managers Chapter 1 Homework Due Week 1 and worth 10 points Directions: Answer the following four questions on a separate document. Explain how you reached the answer or show your work if a mathematical calculation is needed‚ or both. Submit your homework assignment using the homework assignment link in the course shell. E1-1 Here is a list of words or phrases discussed in this chapter: 1. 2. 3. Corporation Creditor Accounts receivable 4. 5. 6. Partnership Stockholder
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Merchandise inventory is generally valued at the price for which the goods can be sold. reported under the classification of Property‚ Plant‚ and Equipment on the balance sheet. reported as a current asset on the balance sheet. often reported as a miscellaneous expense on the income statement. Items waiting to be used in production are considered to be finished goods. merchandise inventory. raw materials. work in progress. In a manufacturing business‚ inventory that is ready for sale is called store
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SHANGRI-LA You are partner in charge of the audit of Shangri‑La‚ Inc. The company is a real estate developer‚ specializing in luxury vacation areas. The company’s operations have been profitable‚ although not spectacular. Most of the development property is pledged as collateral for bank loans; there is a reasonable stockholders’ equity of about $10‚000‚000. Shangri‑La has a substantial
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