Balance sheets: the basics A balance sheet is a financial statement at a given point in time. It provides a snapshot summary of what a business owns or is owed. It states what assets the business ownes and what it owes – liabilities‚ at a particular date. The balance sheet is uded to show how the business is being funded and how those funds are being used. The balance sheet is used in three ways: • for reporting purposes (limited company’s annual accounts) • help interested
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Solved Ans. Accounts CA IPCC Nov. 2010 1 Attention C.A. Pcc & Ipcc Students Ipcc_Nov.10 Solved Ans. Acc. Ipcc_Nov.10 Keep Watching our website* for further solution. *www.jainclassesonline.com (No.1 Institute of Jharkhand) C.A. CPT‚ PCC‚ IPCC & FINAL Solved Ans Prepared by : C.A Arvind Kumar Jain and Team Members (Disclaimer : Questions asked in the exam may have wrong/inadequate information and/or ambiguous language. In that case the answers provided by institute may differ from
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Bibliography: Jeannie D. Johnson and Michael G. Tearney‚ "Goodwill -An Eternal Controversy"‚ The CPA Journal‚ p: 58-62‚ April 1993. David Tweedie and Jeannot Blanchet‚ "Brands‚ Goodwill and the Balance sheet"‚ Accountancy‚ p: 20-22‚ January 1995. Merrill Lynch‚ “Goodwill Accounting: The overhaul affect.” New York November 2001 Schneider‚ Craig. “CFOs Sweat FASB ’s Goodwill Accounting Changes‚ Says Study.” CFO.com November 13‚ 2001. Schneider‚ Craig
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E12-1 (Classification Issues—Intangibles) Presented below is a list of items that could be included in the intangible assets section of the balance sheet. Instructions (a) Indicate which items on the list would generally be reported as intangible assets in the balance sheet. (b) Indicate how‚ if at all‚ the items not reportable as intangible assets would be reported in the financial statements. 1. Investment in a subsidiary company. 2. Timberland. 3. Cost of engineering
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Zeiber’s 2014 income statement and balance sheets. Use the following assumptions: (1) Sales grow by 6%. (2) The ratios of expenses to sales‚ depreciation to fixed assets‚ cash to sales‚ accounts receivable to sales‚ and inventories to sales will be the same in 2014 as in 2013. (3) Zeiber will not issue any new stock or new long-term bonds. (4) The interest rate is 11% for long-term debt and the interest expense on long-term debt is based on the average balance during the year . (5) No interest is
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A balance sheet is a statement businesses produce that outlines their assets and liabilities. It is a snapshot of their fixed assets‚ current assets‚ current liabilities and long term liabilities for a specific moment in time such as the end of a financial year. Using these figures‚ a business is able to calculate their net working capital; how much the business is worth‚ whether it can afford to expand and if it is a good venture for investors. There are different groups of people who are interested
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Summary Purposes of the Balance Sheet 1. A balance sheet‚ or statement of financial position‚ summarizes the financial position of a company at a particular date by reporting the economic resources (assets)‚ the economic obligations (liabilities)‚ and equity. It reports a company’s resource structure (major classes and amounts of assets) and its financial structure (major classes and amounts of liabilities and equity). It is a detailed explanation of the basic accounting equation: Assets =
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DBA 7101 MANAGEMENT CONCEPTS ASSIGNMENT-1 1. Discuss the role of various approaches of management in management theory. Which approach‚ do you think‚ adequately clears the nature of management? ……………………………………………………………………………[10 marks] 2. “Decision making is the primary task of the management”. Discuss this statement and explain the process of decision making. [10 marks] ASSIGNMENT-2 1. What are the leadership qualities
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430 Sept. 30 515 Sept. 30 85 515 Depreciation Expense Sept 30 288 Sept. 30 288 b) Yasunari Kawabata D.D.S. Trial Balance September 30‚ 2012 Debit Credit Cash 12‚133 Accounts Receivable 6‚950 Supplies On hand 612 Furniture & Equipment 17‚280 Accumulated Depreciation 288 Accounts Payable 13‚680
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1. A NSF check should appear in which section of the bank reconciliation? (Points : 2) Addition to the balance per books. Deduction from the balance per bank. Addition to the balance per bank. Deduction from the balance per books. | 2. A consequence of separation of duties is that (Points : 2) theft by employees becomes impossible. operations become extremely inefficient because of constant training of employees. more employees will need
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