• Case 1-4 Generally Accepted Accounting Principles At the completion of the Darby Department Store audit‚ the president asks about the meaning of the phrase “in conformity with generally accepted accounting principles‚” which appears in your audit report on the management’s financial statements. He observes that the meaning of the phrase must include more than what he thinks of as “principles.” Required: a. Explain the meaning of the term accounting principles as used in the audit report
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If I lose my fame and fortune‚ and I`m homeless on the streets... Judgment is what our society is built upon. The act of judging or assessing a person or situation or event; the criticized judgment of an individual on how people see you on a physical and emotional state and at times what you have to offer at given times with materialistic aspects. Judging and saying something about someone is only a natural aspect of life people love to talk and feed off of other people consisting of their
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Case #4 Jiawei Qi Principle of audit and control (43010) Professor Ben Hoffman February 23‚ 2015 TO: Charles ward‚ CPA Partner FROM: Jiawei Qi DATE: February 23‚ 2016 SUBJECT: Assess control risk and plan tests of controls and substantive tests of transactions Introduction: The purpose of the memo is to communicate to you the outcome of the company’s control risk‚ the test of controls and substantive tests of transactions. General procedure: First‚ we assess the
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Chapter 19: Accounting for Income Taxes Fundamentals of Accounting for Income Taxes * Intro * Pretax Financial Income- income before taxes‚ income for financial reporting purposes‚ income for BOOK purposes * Determine according to GAAP * Taxable Income- amount used to compute income taxes payable * Determine using Internal Revenue Code (tax code) * Differences arise for a simple reason‚ for financial reporting purposes companies use the full accrual
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artificial flower manufacturing company situated in Monaragala with 350 total workforces. It provides artificial flowers for local and international markets. This has five functional departments namely Purchasing‚ Sales and Marketing‚ Production‚ Accounting and HR. They got a decision to increase production in 14% by last year onwards and an incentive program also implemented. When the carder produces more than the original target‚ company granted 10%-15% additional incentive. After 6 months company
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Judgment of Paris Main Story: The evil goddess of Discord‚ Eris‚ was naturally not popular in Olympus‚ and when the gods gave a banquet they were apt to leave her out. Resenting this deeply‚ she determined to make trouble — and she succeeded very well indeed. At an important marriage‚ that of King Peleus and the sea nymph Thetis‚ to which she alone of all the divinities was not invited‚ she threw into the banqueting hall a golden apple marked For the Fairest. Of course all the goddesses wanted
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Intermediate Sanctions Florence Thomas Axia College of University of Phoenix Intermediate sanctions are criminal sentences that fall between standard probation and incarceration. Intermediate sanctions can include house arrest‚ intensive probation (i.e.‚ probation with more conditions beyond the basic conditions of standard probation)‚ boot camps‚ electronic monitoring‚ and drug treatment programs. Intermediate sanctions serve a dual purpose in the criminal justice system
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Intermediate Sanctions Intermediate sanctions are the sanctions that are more restrictive than the probation and less restrictive than imprisonment. It is also intended to relieve the pressure on the over crowed facilities that deal with the corrections and the probation departments that are understaffed. The purpose for the intermediate sanction in the criminal justice process is that it helps with any of the concerns from the facilities being packed and over crowed. Jails and the prisons
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Construct a sources and uses of cash statement for 2011 and 2012‚ and derive the change in the firm’s cash position. Then rewrite the sources and uses of cash as a statement of cash flows. Briefly interpret the results of your analysis. Question 2. On Eastern Printing Machines Co.’s income statement of 2012‚ the cost of goods sold and
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Question 2 1 out of 1 points An apparently voluntary agreement may in fact not be voluntary if: Selected Answer: all of the above. Correct Answer: all of the above. Question 3 1 out of 1 points Contractual capacity is the ability to: Selected Answer: understand that a contract is being made and to understand its general nature. Correct Answer: understand that a contract is being made and to understand its general nature. Question 4 1 out of 1 points In the case of an
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