can this statement relateto accounting? A syntactic theory is one that is capable of testing on the basis that it is valid in terms of itslogical consistency. Thus the calculation of accounting profit and determination of assetvaluation can be valid in relation to their conformity with rules prescribing the measurementof accounting profit and asset valuations. This can be described as sterile as it does notnecessarily relate to the real world. Historical cost accounting has been represented as being purely
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statement of stockholders’ equity. 4. Identify and compute ratios for analyzing a company’s liquidity and solvency using a balance sheet. 5. Use the statement of cash flows to evaluate solvency. 6. Explain the meaning of generally accepted accounting principles. 7. Discuss financial reporting concepts. Summary of Questions by Study Objectives and Bloom’s Taxonomy Item SO BT Item SO BT Item SO BT Item SO BT Item SO BT Questions 1. 1 K 6. 2‚ 4‚ 5 C 10. 4‚ 5 K
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for such items as insurance‚ rent‚ obsolescence‚ spoilage‚ and breakage plus the opportunity cost of capital (or required return on investment). 20-5 Examples of opportunity costs relevant to the EOQ decision model but typically not recorded in accounting systems are the following: 1. the return forgone by investing capital in inventory; 2. lost contribution margin on existing sales when a stockout occurs; and 3. lost contribution margin on potential future sales that will not be made to disgruntled
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the film Forest Gump to write about my understanding of film. It was released in 1994 and directed by Robert Zemeckis‚ produced by Wendy Finerman and Steven Tisch. The movie based on the written screenplay of Eric Roth from the novel of Winston Groom. It has several well-known‚ talented actors such as Tom Hanks‚ Sally Fields‚ Robin Wright and Gary Sinise to name a few. The production cost of fifty-five million and it grossed six hundred and seventy-seven million worldwide. Forrest Gump won six Oscars
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methods because under the non-GAAP accounting method apple gave the revenue numbers without the use of subscription accounting‚ which recognized the revenue at the point of sale. Moreover the non-GAAP numbers did not adjust the estimated costs associated with its plan to provide new features and software upgrades to iPhone buyers free of charge and these figures were not prepared under a comprehensive set of rules or principles. Whereas in subscription accounting the cash received was reported at
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CHAPTER 12 STATEMENT OF CASH FLOWS SUMMARY OF QUESTIONS BY OBJECTIVES AND BLOOM’S TAXONOMY |Item | |1. | |42.
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Chapter 2 1. A conceptual framework is a coherent system of interrelated objectives and fundamentals that can lead to consistent standards and that prescribes the nature‚ function‚ and limits of financial accounting and financial statements. A conceptual framework is necessary in financial accounting for the following reasons: (1) It enables the FASB to issue more useful and consistent standards in the future. (2) New issues will be more quickly solvable by reference to an existing framework of basic
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Direct materials cost per unit ($750‚000 ÷ 10‚000) $ 75.00 Conversion cost per unit ($798‚000 ÷ 10‚000) 79.80 Assembly Department cost per unit $154.80 2a. Solution Exhibit 17-16A calculates the equivalent units of direct materials and conversion costs in the Assembly Department of Nihon‚ Inc. in February 2009. Solution Exhibit 17-16B computes equivalent unit costs. 2b. Direct materials cost per unit $ 75 Conversion cost per unit 84 Assembly Department cost per unit $159
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CHAPTER 2 The Recording Process ASSIGNMENT CLASSIFICATION TABLE Study Objectives 1. Explain what an account is and how it helps in the recording process. Define debits and credits and explain their use in recording business transactions. Identify the basic steps in the recording process. Explain what a journal is and how it helps in the recording process. Explain what a ledger is and how it helps in the recording process. Explain what posting is and how it helps in the recording process. Prepare
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CHAPTER 6 MASTER BUDGET AND RESPONSIBILITY ACCOUNTING 6-16 (15 min.) Sales budget‚ service setting. 1. |McGrath & Sons |2009 Volume |At 2009 |Expected 2010 |Expected 2010 Volume | | | |Selling Prices |Change in Volume | | |Radon Tests |11‚000 |$250 |+5% |11‚550
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