FINANCIAL ACCOUNTING III – ACCT 3018 ASSIGNMENT 1 DUE : TOTAL MARKS = 50 QUESTION 1 Marks=10 Listed below are items that are treated differently for accounting purposes than they are for tax purposes. Indicate whether the items are permanent differences OR temporary differences. For temporary differences‚ indicate whether they will create future tax assets or future tax liabilities 1. Advance rental receipts Temporary difference‚ deferred tax asset 2. Membership costs in a health
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Accounting Standards issued by the ICAI Page 1 of 2 Accounting Standards issued by the ICAI Withdrawal of the Announcement issued by the Council on ‘Treatment of exchange differences under Accounting Standard (AS) 11 (revised 2003)‚ The Effects of Changes in Foreign Exchange Rates vis-à-vis Schedule VI to the Companies Act‚ 1956’ Accounting Standards (ASs) AS 1 Disclosure of Accounting Policies AS 2 Valuation of Inventories AS 3 Cash Flow Statements AS 4 Contingencies and Events Occuring
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According to google.com (web definitions) Accounting Standards can be defined as a set of rules governing how accounts are drawn up. Would there be more positive effects than negative if a country develops its own accounting standards? I totally disagree with this statement‚ instead should be read‚ ‘A country should ‘NOT’ develop its own accounting standards’. To support my statement I will substantiate on five points stating why there is one accounting standards for everyone to follow; these include:
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broadens my understanding of the couple’s situation and their likely feelings will influence my thoughts and actions‚ however‚ practice must stay guided by social work ethical values and legislation. Supporting Jackie is critical as her efforts are invaluable for Ian’s best interests of staying within the familiarity of his home environment. Nevertheless‚ in the event of any ethical dilemmas or other challenges‚ Ian is
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factors in life from education‚ the parks we take our children to‚ the health care we receive and the people we are neighbours with and this can have an effect of equality for people. Children can only
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Statement of Ethical Professional Practice: Does Business Interaction in the Global Market Conflict with these Standards? Paul D. Baker Aspen University BUS 510 Abstract Ethical standards are subjective. Like morals‚ mission statements and corporate responsibilities and conduct‚ Ethical standards or practices are used to guide behavior in an organization or profession. This paper will explore the Institute of Management Accountants (IMA) Statement of Ethical Professional
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assets B. Subsidiary C. Service departments D. Exclusive cash generating unit 7. Assume that employees confessed to a P500‚000 inventory theft but are not able to make restitution. How should this material fraud be shown in the company’s financial statements? A. Classified as loss and shown as a separate line item in the statement of comprehensive income. B. Initially classified as an account receivable because the employees are responsible for the goods. Because they cannot pay‚ the loss
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Question 3: Frieda‚ an accounting student‚ states: “Strategy analysis seems to be an unnecessary detour in doing financial statement analysis. Why can’t we just get straight to the accounting issues? “Explain to Frieda why she might be wrong. Without strategy analysis‚ it is impossible to identify what drive profits and what are key risks. Moreover‚ assessing firm’s current performance and doing realistic forecasts of future performance are also directly linked with firm’s strategy. Three important
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Interdisciplinary relationships The effort of the health care is instruction‚ but the concept of interdisciplinary health care is not a new concept. Certainly the interdisciplinary health care group: statistic or narrative. The Organization of Treatment report crossing the value: A technology medical treatment organization for the 21th Era standard the essential for an interdisciplinary method for ideal patient results. The report also highlighted that health care consultant’s determination necessity to accept
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customers in a way that does not discriminate them on the basis of their individual differences. Inclusive practice includes many things‚ here are some examples below. Recognising and respecting customers cultural needs helps to promote inclusive practice. A customer may follow Islam as their religion‚ to meet their needs to kitchen staff may put halal or vegetarian options on the menu. Inclusive practice involves the individuals wishes and preferences. When planning activities in our service‚ our activities
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