Abstract The purpose of this essay is to illustrate the complexity meanings of financial reporting reflect the reality and it can be the creator of social reality. Financial reporting should have an objective “truth” and “fair” view and prepare a faithful presentation for shareholders to deal with the investment. Accounting theory need to continuous change its standards or models in order to meet the future needs. This easy also discuss this statement which relate to the sustainability issues
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ACCA Corporate Reporting Paper P2 (International) Practice & Revision Notes ARP213I ARP213I Contents Page Introduction How to use the Practice & Revision material 4 The examination paper and syllabus aims 5 Analysis of past papers 6 Skills bank 9 Knowledge bank 25 Appendices 93 ARP213I 3 INTRODUCTION Introduction How to use the Practice & Revision material Step 1 Learn Until now you have been introduced to the core skills needed
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CHAPTER 1 Introduction to Financial Statements Study Objectives 1. 2. 3. 4. 5. 6. Describe the primary forms of business organization. Identify the users and uses of accounting information. Explain the three principal types of business activity. Describe the content and purpose of each of the financial statements. Explain the meaning of assets‚ liabilities‚ and stockholders’ equity‚ and state the basic accounting equation. Describe the components that supplement the financial statements in an annual
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Ash Chen IB Economics SL Mr. Murf Exchange Rates and The Balance of Payments Exchange Rates Living in the 21st century‚ trading has become a major component of our global economy. However‚ with over 200 countries and 180 currencies in the world‚ countries cannot trade with each other without a way to pay each other in their currency. Thus‚ in order to trade‚ countries have developed a formula to convert their money to that of another country’s. That formula is the exchange rate. The exchange
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Intermediate Accounting Paper The Financial Accounting Standards Board (FASB) is a private‚ not-for-profit organization whose primary purpose is to develop generally accepted accounting principles (GAAP) within the United States in the public ’s interest. The Securities and Exchange Commission (SEC) designated the FASB as the organization responsible for setting accounting standards for public companies in the U.S. It was created in 1973‚ replacing the Accounting Principles Board and the Committee
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Answer the following questions using 150 words each unless otherwise indicated. List the the source for your information and use your own words. Attach this assignment here as a word file by June 4th. 1. Discuss taxonomy (chapt. 1). What are the two disciplines involved? Who "invented’ modern taxonomy? What are the different levels of taxonomy? Taxonomy is the process or system of describing the way in which different living things are related by putting them in groups. The two disciplines
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Exercise 1 (part I) Li Fen Holland (Ltd) is a manufacturer of deepfreeze Vietnamese meat rolls for the delivery to supermarkets. The raw materials costs (meat) are € 0.40 per meat roll. (0.1 kilogram of meat for € 4.-- per kilogram). The other variable costs (costs of packing) are € 0.02 per meat roll. All produced meat rolls will be sold instantly: There is no inventory/stock of meat rolls. The budgeted indirect fixed costs are distributed as follows: Costs management | € 200‚000 | | Costs
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University of Phoenix Material Appendix C Part I Define the following terms: |Term |Definition | |Discrimination |The denial of opportunities and equal rights in individuals and groups because of prejudice | | |or for other arbitrary reasons | |Institutional
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of the discount on July 1‚ 2011‚ assuming no accrual of interest on June 30. (4) The accrual of interest and the amortization of the discount on December 31‚ 2011. (b) Show the proper balance sheet presentation for the liability for bonds payable on the December 31‚ 2011‚ balance sheet. (c) Provide the answers to the following questions in letter form. (1) What amount of interest expense is reported for 2011? (2) Would the bond interest expense reported in 2011 be the same as‚ greater than‚
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There is no impairment of goodwill. It is group policy to value non-controlling interest at full fair value. At the acquisition date the non-controlling interest was valued at $9‚000. Prepare the consolidated statement of financial position of Ping @ 30.6.X8. Statement of Financial Position @ 30.6.X8: Ping Co $ Pong Co $ ASSETS Non-current assets Property‚ plant & equipment 20‚000 ordinary shares in Pong at cost Current assets Inventory Owed by Ping Co Receivables Cash 50‚000
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