years of university education or you are a recent graduate. * You are fluent in English and one of the following languages: German‚ French‚ Spanish or Italian (the more the better). * You enjoy learning by doing. * You are an advanced Excel
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assumption. 2. Sales revenue should be recognised when goods and services have been supplied; costs are incurred when goods and services have been received. Which accounting concept governs the above? a. The prudence concept b. The materiality concept c. The accruals concept * d. The dual accept concept 3. Which accounting concept requires that foreseen losses should be anticipated and taken into account immediately? a. The consistency concept b. The accruals concept c. The prudence
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Using Google An extremely common source of information this day in age is the internet. Because of the internet and the increasing availability of wireless streaming of information‚ most people use it every day for multiple different types of tasks. Because of the massive amount of information that can be obtained through the internet‚ it is necessary to find information by using search engines such as Google. A search engine like Google will take keywords and search through a massive database
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| | | | |Explain the accounting‚ and prepare the journal entries‚ for |2‚ 3‚ 4‚ 5‚ 6‚ 7 |3‚ 4‚ 5 |1‚ 2‚ 3‚ 4 |2‚ 3 |2‚ 3 | |definitely determinable liabilities. | | | | | | |Explain the accounting‚ and prepare the journal entries‚ for estimated|8‚ 9‚ 10 |6‚ 7
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FTMS International CollegeIntermediate Financial Accounting 1: ACC122 Revision Question 1: The bank columns in the Cash Book for July 2009 and the bank statement for that month for Sunrise are: Cash Book 2009$2009$ Jul 1Balance b/d110Jul 4Moore 70 Jul 5Peggs 80Jul 21Nower100 Jul 14Hughes120Jul 24Davies160 Jul 25Palmer190Jul 28Balance c/d320 Jul 26Thompson 60 650650 Bank Statement Dr.Cr.Balance 2009 $ $ $ Jul 1Balance b/d110
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Chapter 1 Introducing Financial Accounting Chapter 2 Constructing Financial Statements Chapter 3 Adjusting Accounts for Financial Statements Chapter 4 Reporting and Analyzing Cash Flows Chapter 5 Analyzing and Interpreting Financial Statements Chapter 6 Reporting and Analyzing Revenues and Receivables Chapter 7 Reporting and Analyzing Inventory Chapter 8 Reporting and Analyzing Long-Term Operating Assets Chapter 9 Reporting
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CH3 -The accounting treatment of goodwill impairment/ detailed two-step impairment test – apart from qualitative assessment (1) if CV of reporting unit is > than FV of reporting unit‚ take step 2; if opposite‚ stop. (2) compare CV of goodwill w/ FV of goodwill; if CV is > FV‚ there might be potential impairment. CH4 -Determine the fair value of sub/the fair value of NCI – FV allocation; FV of sub = FV of CI + FV of NCI; go by mkt price if there is; use parent if there isnt -Determine goodwill
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acceptable quality level (AQL) the defect rate at which total quality costs are minimised account classification method (or account analysis) the process in which managers use their judgement to classify costs as fixed‚ variable or semivariable costs accounting rate of return (or simple rate of return‚ rate of return on assets‚ unadjusted rate of return or return on investment (ROI)) the average annual profit from a project‚ divided by the initial investment accumulation factor the value of (1 r)n used
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Week One Exercise Assignment Basic Accounting Equations 1. Concepts. Jean ’s Marine Supply specializes in the sale of boating equipment and acces¬sories. Identify the Basic items that follow as an asset (A)‚ liability (L)‚ revenue (R)‚ or expense (E) from the firm ’s viewpoint. a. The inventory of boating supplies owned by the company. – Asset (A) b. Monthly rental charges paid for store space. – Expense (E) c. A loan owed to Citizens Bank. – Liability (L) d. New computer equipment
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The terms of trade measures the rate of exchange of one good or service for another when two countries trade with each other. For international trade to be mutually beneficial for each country‚ the terms of trade must lie within the opportunity cost ratios for both country. We calculate the terms of trade as an index number using the following formula: ToT = 100 x Average export price index / Average import price index If export prices are rising faster than import prices‚ the terms of trade index
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