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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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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Chapter 1 BUSINESS COMBINATIONS Answers to Questions 1 A business combination is a union of business entities in which two or more previously separate and independent companies are brought under the control of a single management team. APB Opinion No. 16 describes three situations that establish the control necessary for a business combination‚ namely‚ when one or more corporations become subsidiaries‚ when one company transfers its net assets to another‚ and when each combining company transfers
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professional conduct is clear that an accountant should follow all the six principles so that a healthy work environment could be created in the interest of the company‚ society and nation. The second discussion is focused on evaluation of ethicality of accounting activities. Manipulating the financial statements for personal interest or for loyalty towards company or its executives is unethical and the person responsible for such act will be punishable. Misstatement of financial statements is ethically wrong
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Accounting Basics: Introduction Accounting is a glorious but misunderstood field. The popular view is that it’s mostly mind-numbing number-crunching; it certainly has some of that‚ but it’s also a rich intellectual pursuit with an abundance of compelling and controversial issues. Accountants are often stereotyped as soulless drones laboring listlessly in the bowels of corporate bureaucracies. But many accountants will tell you that it’s people skills‚ not technical knowledge‚ that are crucial to
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Accounting for Managers TOPIC A: AN INTRODUCTION TO ACCOUNTING Investors – Individual and groups provide initial capital. Creditors – Company which loans money to another company (Suppliers/Bank). Managers – Oversee the day-to-day operations. What is accounting? * Process of Recognising‚ measuring‚ recording (also known as transactions)‚ disclosing and attesting to information. *Information – Decision Making (Value Creation)‚ Control (Monitoring). Process of Accounting: Transactions
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characterized as a type of dementia that causes problems with memory‚ thinking‚ and behavior. It is irreversible and it slowly destroys memory and thinking skills and‚ eventually‚ the ability to perform simple tasks. Unfortunately‚ Alzheimer’s is the sixth leading cause of death in the United States and over five million Americans are currently living with Alzheimer’s. There are many symptoms within each category of Alzheimer’s. In mild Alzheimer’s disease‚ where Alzheimer’s is usually diagnosed‚ the
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study of the views of management teams in large companies. Entries: 504‚043‚ New the week: 494 (Retrieved 10/2012) Daft R. L. (2011) Organization Theory and Design.‚ Cengage Learning‚ South-Western‚ Vanderbilt University‚ 11th edition Hammer‚ J. (1996). Harper’s Magazine Foundation‚ “Nigeria Crude: a changed man and an oil- fouled landscape. (execution of ken Saro-Wiwa)” Web Journal Retrieved 10/19.2012 Mosley‚ Alisa L. “ A Quantitative Approach to Management: Management in Today’s Organizations
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to perform a review of our operations to assets options that best evolve our strategy on sustainable‚ go-forward basics‚ also to reorganize the operations and management structure to reflect a brand-centric approach. The designed was to optimize the operational coordination
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