1. The inventory at your company consists of computer software that the company has developed and is selling. You capitalized (rather than expensed) the cost of duplicating the software‚ the instruction manuals‚ and training material that are sold with the software. 985 Software: 330 Inventory: 25 Recognition 25-1 The costs incurred for duplicating the computer software‚ documentation‚ and training materials from the product masters and for physically packaging the product for distribution
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Recognizing Differences - Week 4 Kevin A. Froy XACC/291 February 19‚ 2014 Shontell Chrisman Recognizing Differences - Week 4 According to Weygandt‚ Kimmel‚ and Kieso (2010)‚ in accounting valuation means a company is establishing a value‚ or estimating a value of an item. The resources can be assessed as an asset or a liability. Bonds are an example of a liability‚ and stocks‚ patents‚ and trademarks are assets. To get an accurate valuation‚ one has to determine the dependability of the
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profit (CVP) analysis is defined as "the study of the effects of changes in costs and volume on a company’s profits" (Kimmel‚ Weygandt‚ & Kieso‚ 2009). In the case of Tesla’s current state‚ it appears a proper CVP analysis was conducted because Tesla effectively overseeing production costs and keeping expenses low
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customers and build strong customer relationships in order to capture value from customers in return. (Principles of Marketing‚ 14e‚ Kotler and Armstrong‚ 2012) Marketing: The activity ‚ set of institutions‚ and processes for creating‚ communicating‚ delivering and exchanging offerings that have value for customers‚ clients‚ partners‚ and society at large.. (Marketing Management 14e‚ Kotler and Keller‚ 2012) The aim of Marketing is to know and understand the customer so well that the product or service
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2005 When constructing the 2005 income statement for Lads & Lassies‚ I will be using a multi step income statement as this is the format that "includes other important revenue and expense classifications makes the income statement more useful" (Kieso‚ 2012). We have limited information to use for 2005‚ but we can still construct an income statement up to gross profit. We will adhere to FASB rule ASC 225-10-S99-2 (Regulation S-X Rule 5-03‚ Income Statements)‚ which regulates the relevant items
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IFRS vs. GAAP Teddrick Smith ACC/ 291 Professor Marlo October 27‚ 2014 IFRS vs. GAAP In the world of finance recording‚ reporting‚ and responsibility for both are a few of the most important standards to uphold. These ideas or standards are recognized throughout the business world as a necessity to doing business properly. There are two groups or associations that have set up an all-inclusive list of these standards. They are Generally Accepted Accounting Principles (GAAP) and the
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Learning Team Weekly Reflection Incremental vs. Comprehensive Analysis ACC/561 University of Phoenix Making accurate managerial decisions based on a business’s financial and nonfinancial information are important. To understand the financial information necessary for making correct decisions it is helpful to create an incremental analysis. The incremental analysis identifies the relevant revenues and costs and the expected impact on future income. Although both incremental and comprehensive
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Ratio analysis 1. Liquidity ratio The liquidity ratios measure the company’s ability to meet its short-term debt obligations (Intermediate accounting- Kieso‚ D.E.‚ J.J. Weygandt and T.D. Warfield). These ratios include current ratios‚ quick ratios‚ and cash ratio. Current ratio: the current ratio of GM has increased from 1.29 in 2012 to 1.30 in 2013. With a higher ratio in 2013‚ it’s better for GM to meet its short-term obligation. Quick ratio: the quick ratio of GM has improved from 0.79 in 2012
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method recognized as the lower of cost or market‚ or LCM (Weygandt‚ Kieso‚ & Kimmel‚ 2005). In the valuation of inventory‚ when the inventory value is lower than its cost‚ the inventory is written down to its market value or current replacement value or cost (Weygandt‚ Kieso‚ & Kimmel‚ 2005). An asset is a defined as an economic resource. It is considered to be not
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Week 3 Assignment Great Debates in Economics: Keynes vs Hayek 2. Keynes believed that it was a waste to save money and it only lead to destruction and prevent economic growth. He didn’t agree with private investment. He felt by keeping money in your pocket is senseless because soon we will all be dead. You can’t take the money with you. He also felt that the government should increase spending during times of recessions. Hayek believed that you must save money so that you could later
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