Chapter 1 Financial Accounting and Accounting Standards Intermediate Accounting‚ 15th Edition Kieso‚ Weygandt‚ and Warfield 1 Financial Statements and Financial Reporting • Goals or purpose of (financial) accounting – Identification‚ measurement‚ and communication of financial information about – An economic entity to – Interested Parties (internal and external) • Creditors‚ managers‚ unions‚ government agencies Financial reports (statements) & notes 2 Financial Statements
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Fiber Intermediates: Fiber Intermediates have large production capacity in India. Globally the demand for all categories of Fiber is increasing at a pace of 3-4 MT annually. Polyester is accounted for 70% of the total growth of fiber in all categories in next decade. This global demand scenario has a positive impact on the Indian market as well. Polyester demand in India is likely to grow at 12% Y-o-Y to .5 MPTA. Demand of Polyester will also result into demand growth of PX which is expected to grow
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of wanting to help each other with the same goal to save Lia. Culture as an Iceberg‚ I learned the external‚ internal‚ and the three levels. The surface level culture which is above the water‚ the intermediate level culture and deep level culture. The surface level means “pop culture”‚ the intermediate level means “symbols‚ meanings‚ norms”. And deep level means‚ traditions‚ beliefs and values. The idea of culture as an iceberg means that only a smaller proportion of cultural aspects
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TEST PAPER 1 Subject: Hotel Accounting 1 Serial No: 72367B Test No: 1 Edition: 1 Student Name: Cosme‚ Felicia Student Number: 10011439164 Question 1: Assets Liabilities Owner’s Equity 1. Cash (Example) √ 2. Bank Overdraft √ 3. Capital √ 4. Loans √ 5. Salaries Payable √ 6. Land and buildings √ 7. Telephone payable √ 8. Advertising payable √ 9. Stock on hand √
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Campany presents numerous account of Buddhist miracle tales from Wang Yan’s Records of Signs from the Unseen Realm. In the following four records of miraculous events‚ one can observe many elements of traditional Confucian and Daoist beliefs. In the 11th account‚ a wealthy man named Di Shichang is described to have secretly constructed an oratory in his home and made offerings of food to support the monks. One day‚ a homely monk arrived at his door; however‚ Shichang refused to wash the feet of this
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The formation of the debit and credit concept In this simplified form we can begin to see what the mathematician and Father of Accounting (Luca Pacioli) saw in 1494 when he codified the double-entry bookkeeping system. It is his codified system that outlined the rules for applying debits and credits when recording the financial transactions of a business in the double-entry bookkeeping system. Now remember that Luca’s book in 1494 was written and published in Latin and at a time when the concept
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Chapter 3-1 The Accounting Information System Chapter 3-2 Financial Accounting‚ Fifth Edition Study Objectives 1. Analyze the effect of business transactions on the basic accounting equation. 2. Explain what an account is and how it helps in the recording process. 3. Define debits and credits and explain how they are used to record business transactions transactions. 4. Identify the basic steps in the recording process. 5. Explain what a journal is and
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second-order model is preferred to the original linear model is not test whether the coefficient of the second-order term is significantly different from zero. To determine whether the x2 variable has significantly improved the fit of the regression‚ the following hypotheses can be tested: H0 : β2 = 0 H0 : β2 ≠ 0 Where β2 is the coefficient of x2 . The t test discussed in Chapter 4 can be used to conduct the test. For α=0.05‚ the decision rule is Reject H0 if t > 2.11 or t <
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ACCOUNTING SUBSTANCE OVER FORM Substance over form is an accounting concept where the entity is accounting for items according to their substance and economic reality and not merely their legal form. It is one of the key determinants of reliable information. For most transactions there will be no difference and in some cases however‚ the two diverge and the choice of how to present the transactions can give very different results. This differences occurs when an asset or liability is not recognized
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