examination of financial statements and underlying records for conformance with generally accepted accounting principles (GAAP). It does this as well as generally accepted governmental auditing standards C. Tests for compliance with laws and regulations. D. Both B and C. 2. Government Auditing Standards (GAS) issued by the U.S. Comptroller General apply to A. Financial statement audits of federal organizations made by the Government Accountability Office. B. Financial statement audits of
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How Firms Avoid Losses: Evidence of Use of the Net Deferred Tax Asset Account David Burgstahler* University of Washington Gerhard G. Mueller Endowed Professor in Accounting W. Brooke Elliott University of Washington Michelle Hanlon University of Michigan Business School November 26‚ 2002 _________________________________________________________________________________ ABSTRACT: This paper investigates whether firms use discretion in accounting for deferred taxes to increase earnings
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invested‚ is the most popular way to do the measurement. However‚ in my opinion‚ EVA or RI should be a better method to evaluate the performance of each division separately. Let use EVA to explain the reason of EVA being a better approach. EVA is net operating profit after taxes less the money cost of capital. If the company uses ROI to measure the performance‚ it cannot maximize the shareholder’s value. When there is a project which will increase the value of the company but will decrease the ROI result
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ABC SDN. BHD. (Incorporated in Malaysia) REPORTS AND FINANCIAL STATEMENTS 31 December 2010
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Exchange Corp. is a company that acts as a facilitator in tax-favored real estate swaps. Such swaps‚ know as 1031 exchanges‚ permit participants to avoid some or all of the capital gains taxes that would otherwise be due. The bookkeeper for the company has been asked to prepare a report for the company to help its owner/manager analyze performance. The first such report appears below: Note that the revenues and costs in the above report are unit revenues and costs. For example‚ the average office
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conflict (Schimidt & Kochan‚ 1972; Brett‚ 1984). More recently‚ researchers have theorized that conflict is beneficial under some circumstances (Tjosvold‚ 1991; Van de Vliert & De Dreu‚ 1994). [3] Thus‚ this paper attempts to present the losses and benefits from conflicts in organizations. I. CONFLICT IN GROUPS AND ORGANIZATIONS A. Definition Generally‚ conflict is defined as a contest of opposing forces or power. [4] it is a perceived difference between a two or more parties that results in
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Chapter 5 Operating and Financial Leverage Discussion Questions |5-1. |Discuss the various uses for break-even analysis. | | | | | |Such analysis allows the firm to determine at what level of operations it will break even (earn zero profit) | | |and to explore
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PHILIPPINE LONG DISTANCE TELEPHONE COMPANY AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AS AT MARCH 31‚ 2013 (UNAUDITED) AND DECEMBER 31‚ 2012 (AUDITED) AND FOR THE THREE MONTHS ENDED MARCH 31‚ 2013 AND 2012 (UNAUDITED) F-1 PHILIPPINE LONG DISTANCE TELEPHONE COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (in million pesos‚ except par value per share amounts and number of shares) As at January 1‚ As at March 31‚ As at December 31‚ 2012 2012 2013
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(2-3) Little Books Inc. recently reported $3m of net income. Its EBIT was $6m‚ and its tax was 40%. What was its interest expense? ANSWER: Net Income $3 Million EBIT $6 Million Divided by 0.6 Less IBT $5 Million Income before Taxes $5 Million Interest Expense $1 Million **Interest Expense = $1M** (2-7) The Talley Corporation had a taxable income of $365‚000 from operations after all operating costs but before (1) interest charges of $50‚000
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control over net neutrality. Net Neutrality greatly benefits the people of the internet.The current regulations allow people to be free online. They are able to express their opinions and feelings with a free‚ uncensored internet. With net neutrality‚ Internet Service Providers (ISPs) are not allowed to censor and control what people see on the internet‚ meaning that manipulation and bias is not possible on the internet. This also means that they cannot promote certain websites over others. Net Neutrality
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