ACCOUNTING SUBSTANCE OVER FORM Substance over form is an accounting concept where the entity is accounting for items according to their substance and economic reality and not merely their legal form. It is one of the key determinants of reliable information. For most transactions there will be no difference and in some cases however‚ the two diverge and the choice of how to present the transactions can give very different results. This differences occurs when an asset or liability is not recognized
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Chapter 5 Accounting for Merchandising Operations Chapter Summary Merchandising Operations • A merchandising company is an enterprise that buys and sells goods to earn a profit. • Measuring net income for a merchandising company is the same as for a service company through matching of expenses with revenues. • In a merchandising company‚ the primary source of revenue is the sale of merchandise‚ which is called sales revenue or sales. • Expenses for merchandising
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Tucker Inc. MEMO To: All Employees From: Communications Officer Date: April 21‚ 2015 Re: Employee Break Room Regulations The company president Mr. Tucker has asked me to email you all regarding the current state of our employee break rooms. Lately the cleaning staff and company president have been noticing the increasing disregard for the cleanliness in our break areas. There have been repeated instances of spills left on the counter‚ garbage left behind from lunch breaks‚ and food spoiling
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Memo To: Carolyn Smythe From: Director of Human Resources Date: April 20‚ 2011 Subject: Volunteer Program I am writing this memo in response to the email request that you sent me about adding the Center for Non-Violence to our volunteer program. I would like to start off by saying that we here at Dawson & Engels greatly appreciate your input and your interest in expanding our volunteer program to better help the community. However‚ we are not going to be able to include the program you
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to 700-word memo to the CEO of your selected organization in which you discuss your findings from your ratio calculations and your horizontal and vertical analysis. In your memo‚ address the following questions: What do the liquidity‚ profitability‚ and solvency ratios reveal about the financial position of the company? Which users may be interested in each type of ratio? What does the collected data reveal about the performance and position of the company? Format your memo consistent with
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Memo Date: 10/30/2006 To: Roger Deromedi‚ CEO Kraft Foods From: ‚ Assistant Vice President Kraft Foods RE: Kraft Foods The reason for this memo is to address the negative media attention our company has been receiving in regards to our products lacking nutrition. Health and fitness has been a growing concern in the United States. Many companies have begun to offer more nutritious and less fat filled food products. We could see a drop in sales if more consumers begin to see us as only producing
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Section A Under Case Study (Newspaper) HB Global 1. Types of audit opinion Qualified opinion * A qualified opinion report can result from a limitation on the scope of the audit or failure to follow generally accepted accounting principles Adverse opinion * It is used only when the auditor believes that the overall financial statements are so materiality misstated or misleading that they do not present fairly the financial position or results of operations and cash flows in conforming
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Introduction to Accounting Accounting is a profession used to make financial and business decisions. Billions of dollars exchange hands every day‚ in millions of separate business transactions. These are recorded and reported on using a comprehensive set of guidelines‚ referred to as Generally Accepted Accounting Principles (GAAP). Brief History of Accounting Accounting was born before writing or numbers existed‚ some 10‚000 years ago‚ in the area known as Mesopotamia‚ later Persia‚ and today the
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Mayor Simulation Memo Lauren Pander HIS/301 January 16‚ 2015 Joshua Bearden Mayor Simulation Memo To: City Council Staff From: Mayor‚ Pander‚ Lauren Date: January 16‚ 2015 Subject: Memorandum for Record Re: Civil Rights Upon careful review of Court Calendar Notebook decisions regarding the state’s civil rights issues have been reached. Below are my final decisions‚ as well as justifications for each. 1. Construction Lawsuits: In order to avoid construction lawsuits the recommendation is as follows:
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PR Communication Memo COM/530 PR Communication Memo Press Release: Pride Enterprises CFO Resigns November 23‚ 2013 – Pride Enterprises‚ Inc. (Prison Rehabilitative Industries and Diversified Enterprises‚ Inc.) a company that is “nationally recognized in inmate training operating general manufacturing and services facilities throughout the state of Florida” (Pride Enterprises‚ Inc.‚ 2013). Today Pride is announcing the resignation for Bob Thompson‚ Chief Financial Officer effective immediately
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