correct picture on the firm’s financial performance and financial position. We have to recognize all transaction occurring in that accounting period‚ irrespective of whether cash has been received or paid. The ultimate objective of adjusting entries is to ensure that the revenues (income) earned in the accounting period are matched by all costs incurred for that same accounting period (Monash College‚ 2011). Prepayment There are two types of adjusting entries‚ prepayments and accruals. Prepayment is
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Objective 1. Determine the total considerations transferred. 2. The land and buildings should be recorded on the premise of “in-use” or “in-exchange”. 3. Determine the fair value recorded for the intangible assets. Applicable accounting pronouncement ASC 805-20-25 Business Combinations-Identifiable assets and liabilities and any non controlling interest-Recognition Recognition Conditions 25-2 To qualify for recognition as part of applying the acquisition method‚ the
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1.0 Introduction 1.1 Introduction Much of the world has‚ at best‚ limited access to basic telephone service. Bangladesh is no exception to this rule. A brief survey of the telecommunications sector in Bangladesh (PBC) shows that in Bangladesh‚ which ranks among the most densely populated countries on the globe‚ one telephone serves 275 people‚ equating to one of the lowest teledensity measures worldwide. Of the total telephone count in Bangladesh‚ approximately 20 percent serve the rural areas
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Summer training report is considered a major component of the training. Summer training remains incomplete till the report has been presented and/or written. The purpose of summer training is not well served unless the findings and experiences gained are made known to others. Writing of report is the last step in the Summer
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On The Job training / Internship As mandated by CHED (CMO no.37 series of 2010) BS in Criminology students are required to take Practicum for 1 semester on the fourth year of the program. The Practicum shall be divided in two components‚ 270 hrs of on-the-job training and another 270 hrs. of Community Immersion‚ to complete the 540 hrs of internship. The Practicum is designed to provide practical experiences for BS Crim. students working in the 5 pillars of the Criminal Justice System: Law
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To understand the buying behaviour of retailers‚ consumers and wholesalers in 100% Cotton and Wrinkle Free Cotton fabric for Shirting‚ Suiting and Jacketing in Gujarat‚ Maharastra and Andhra Pradesh. Also to build a strategy to increase the sale. By 11DM-186 Name Shah Chintan Ketankumar June‚ 2012 1 To understand the buying behaviour of retailers‚ consumers and wholesalers in 100% Cotton and Wrinkle Free Cotton fabric for Shirting‚ Suiting and Jacketing in Gujarat‚ Maharastra
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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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marks) The law firm of Smith‚ Jones‚ and Greene provides accounting service for some of its clients. The person who handles this service and her secretary cost the law firm an average of $80‚000 per year in salary and benefits. Furthermore‚ the law firm incurs an additional charge of $50 per client for computer time‚ postage‚ and supplies. Clients are charged $300 a year for these accounting services. a) Determine the cost‚ revenue‚ and profit functions for the law firm in terms of the number
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ACC 556 – Financial Accounting for Managers Chapter 1 Homework Due Week 1 and worth 10 points Directions: Answer the following four questions on a separate document. Explain how you reached the answer or show your work if a mathematical calculation is needed‚ or both. Submit your homework assignment using the homework assignment link in the course shell. E1-1 Here is a list of words or phrases discussed in this chapter: 1. 2. 3. Corporation Creditor Accounts receivable 4. 5. 6. Partnership Stockholder
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Merchandise inventory is generally valued at the price for which the goods can be sold. reported under the classification of Property‚ Plant‚ and Equipment on the balance sheet. reported as a current asset on the balance sheet. often reported as a miscellaneous expense on the income statement. Items waiting to be used in production are considered to be finished goods. merchandise inventory. raw materials. work in progress. In a manufacturing business‚ inventory that is ready for sale is called store
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