Financial Statements Afaga Palasi May 17‚ 2015 Principals of Accounting I Donna Adams Financial statement is a more of a common term used to refer to procedures at the end of the accounting periods; such as the income statement‚ balance sheet‚ cash flow statement and the statement of owner’s equity. These four financial statements area sometimes known as the financial accounts in which the business prepares. To make decision for investing in certain business we need to have a proper view of each
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INTI INTERNATIONAL UNIVERSITY FIN 2210 FINANCIAL MANAGEMENT AUGUST 2014 INDIVIDUAL ASSIGNMENT (20%) Instruction: Answer ALL questions. Marks allocated for each question is shown. There are several groups of people‚ who are interested in obtaining the financial statements‚ basically for decision making purposes. You are to LIST example (at least 4) of the users and the REASONS they are interested in the financial statements.
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1. Cheers Inc. operates as a partnership. Now the partners have decided to convert the business into a corporation. Which of the following statements is CORRECT? (Points: 5) a. Cheers™ shareholders (the ex-partners) will now be exposed to less liability. b. Cheers will now be subject to fewer regulations. c. Assuming Cheers is profitable‚ of its income will be subject to federal income taxes. d. Cheers™ investors will be exposed to less liability‚ but they will find it more difficult to transfer
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incurred. Answer Selected Answer: False Correct Answer: False Question 2 1 out of 1 points Correct Finished goods inventory is ordinarily held for sale by a manufacturing company. Answer Selected Answer: True Correct Answer: True Question 3 1 out of 1 points Correct Indirect labor is not a component of manufacturing overhead. Answer Selected Answer: False Correct Answer: False Question 4 1 out of 1 points Correct The following equation -- Beginning finished goods + cost
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Financial Terms and Definitions Your Name FIN/370 April 5‚ 2012 Professor Professor Name 1. Finance: Finance is the study of how people and businesses evaluate investments and raise capital to fund them. 2. Efficient market: Efficient market is the concept that all trading opportunities are fairly priced. 3. Primary market: Primary market is a part of the financial market where new security issues are initially bought and sold. 4.
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Chapter 1 - Homework #2. How does OD differ from a single-change technique such as management training? Organization Development (OD) guides management to deal with change using many different techniques‚ such as total quality management or job enrichment‚ and none of them by itself. With single-change technique such as management training it is just focused at one type of management to change or modify performance of an individual. #5. Explain three basic responses an individual may have to
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FIN 515 14-1 Residual Distribution Model Axel Telecommunications has a target capital structure that consists of 70% debt and 30% equity. The company anticipates that its capital budget for the upcoming year will be $3 million. If Axel reports net income of $2 million and follows a residual distribution model with all distributions as dividends‚ what will be its dividend payout ratio? $410‚000 (3000000/5000000)*1000000 – (500000/5000000)*1000000 - .05(6000000)(1-.07) .6*1000000 - .1*1000000
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Should we eat sharks’ fins? Shark’s fin soup is a delicacy which is enjoyed by many people around the world‚ especially the Chinese as they believe that it symbolizes wealth‚ honour and respect. However‚ the practice of cutting off sharks’ fins alive and then throwing them back into the sea had caused increasing awareness and ire of animal rights and environment advocates. Statistics have estimated that one hundred million sharks are killed every year‚ not considering the fact that these numbers
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Chapter 1 P 1-1. a. Calculate the tax disadvantage to organizing a U.S. business today as a corporation‚ as compared to a partnership‚ under the following conditions. Assume that all earnings will be paid out as cash dividends. Operating income (operating profit before taxes) will be $500‚000 per year under either organizational form. The tax rate on corporate profits is 35% (= 0.35)‚ the average personal tax rate for the partners is also 35% (= 0.35)‚ and the capital gains tax rate on dividend
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Homework 3 1. The project plan must be designed in such a way that the project outcome meets ____A____. A) the objectives of the parent organization B) unauthorized requests for change in the project outcome C) the requirements associated with scope creep D) only the expressed warranties identified in the contract 2. The ____B_____ is a specialized view of the action plan that focuses on who has what responsibility for each project task. A) resource histogram B) linear
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