Financial Accounting Theory (BBAC502) Group Assignment (Group of Four) 25% (Due Session 5.2) “Australia has long recognised that its accounting standards need to be harmonised with standards elsewhere in the world. To ensure consistent application of IFRSs‚ CLERP No. 9 recommended that Australia adopt‚ from January 2005‚ official interpretations of IFRSs issued by the IASB’s International Financial Reporting Interpretations Committee (IFRIC). As noted by CLERP No. 9‚ the comparability
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ASSIGNMENT DRIVE PROGRAM SEMESTER SUBJECT CODE & NAME BK ID CREDITS MARKS FALL 2014 MBA/ MBADS/ MBAFLEX/ MBAHCSN3/ PGDBAN2 1 MB0041 FINANCIAL AND MANAGEMENT ACCOUNTING B1624 4 60 Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme. Q.No Questions Marks Total Marks 1 Analyze the following transaction under traditional approach. 18.1.2011 Received a cheque from a customer‚ Sanjay at
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Algorithm for public key encryption RSA Encryption Algorithm * 1. Find P and Q two large prime numbers * 2. Choose E such that: 1<E<PQ * E does not have to be prime‚ but must be odd * (P-1)(Q-1) and E must not have no prime factors in common * 3. Compute D such that (DE-1) is evenly divisible by (P-1)(Q-1) * 4. Encryption function is C = (T^E) mod PQ * C is the ciphertext (positive integer) * T is the plaintext (positive integer) * T must be
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1. In the accounting cycle‚ the last step is Student Response Feedback A. preparing the financial statements B. journalizing and posting the adjusting entries C. preparing a post-closing trial balance D. journalizing and posting the closing entries Score: 1/1 2. During the end-of-period processing which of the following best describes the logical order of this process Student Response Feedback A. Preparation of adjustments‚ adjusted trial
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each chapter. 1-1 Management accounting measures‚ analyzes and reports financial and nonfinancial information that helps managers make decisions to fulfill the goals of an organization. It focuses on internal reporting and is not restricted by generally accepted accounting principles (GAAP). Financial accounting focuses on reporting to external parties such as investors‚ government agencies‚ and banks. It measures and records business transactions and provides financial statements that are based on
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The story is told from three different POVs: From Libby Day in the present and from Ben and Patty Day in 1985. There’s a fourth narrative near the end that provides a surprising twist. You jump from past to present‚ slowly piecing together the story as Libby does. Whilst I’m not the biggest fan of multiple perspectives and constant flashbacks‚ I think that Gillian Flynn has this technique nailed down to a tee. It was a day in the year of 1985 when Ben – Libby’s older brother – allegedly murdered
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inventory‚ salaries‚ and material‚ and revenue is generated through sales. When revenue are higher than the expenses‚ the company has an operating profit‚ and the company has an operating loss when the expenses exceed the operating revenue. 2) The accounting equation (A=L+SE) is a fundamental business concept. Explain what this equation reveals about a company’s sources and uses of funds and the claims on company resources. The equation reveals how heavily dependent a company is on debt versus owner
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improvement in aspect to business efficiency‚ reputation risk management ‚ stakeholder management other social and economic part of the business by disclosing the status of the business in the eyes of society and its stakeholders. Reporting non financial Corporate activities provide a way to communicate and deal with social issues and help to protect a continuing good relationship with company’s stakeholders. Organisation that are performing properly in the market and society may face less problems
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the theme of overcoming challenges? The book “Thunderwith” by Libby Hathorn is about a young girl called Lara; who faces multiple challenges with fitting in and moving on. Firstly she has the challenge of managing her new family and her dad. Secondly‚ Lara is having to cope with being in a new school and isn’t doing too well! Lastly‚ she has to move on from her mother’s death which is a hardship she is finding difficult to overcome. Libby Hathorn uses techniques such as symbolism to show what the mood
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Critical analysis Article descriptions The journal article named “The crisis of fair-value accounting: Making sense of the recent debate” is written by Christian Laux and Christian Leuz in Accounting and Organisations and Society journal (2009). Mr Laux works as a professor of finance at the Goethe University in Frankurt and his research has been published in many journals. Mr Leuz works as a professor of International Economics at University of Chicago Booth School of Business. He has done
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