0/1 Question 1 What is the primary source of capital in Germany? Selected: a. Issuance of stockThis answer is incorrect. b. Corporate bonds c. Bank loansThis is the correct answer. d. Government grants Bank loans are the primary source of capital in Germany. /1 1/1 Question 2 The Japanese economy is dominated by "keiretsu." What are these? a. warlords that control Japanese wealth b. local governmental entities Selected: c. corporate conglomeratesThis answer is correct. d. joint ventures with foreign
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general-purpose financial statements for making business decisions (American InterContinential University [AIU]‚ 2015). It allows accounting data to be converted into efficient information. It reduces confusion in decision making and presents an effective and systematic basis for making internal and external business decisions (Chiappetta‚ Larson &Wild‚ 2002‚ p.22). Internal users of accounting include managers‚ officers‚ internal auditors‚ consultants‚ budget officers‚ and market researchers. Internal users
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Case 3-1 The Parable of the Sadhu The case examines the individual versus corporate ethic. Ethical Issues: How does the individual stay true to her values within a corporate ethic? How can one make changes for the better within an organization? Questions Consider corporate values and ethics as discussed in Chapter 3 and the ethical reasoning methods discussed in Chapters 1 and 2 in answering the following questions: 1. Bowen H. McCoy’s friend Stephen is quoted as saying‚ “I feel that
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FASB ASC CITATION: Adjustments to Lower of Cost or Market 330-10-35-1 A departure from the cost basis of pricing the inventory is required when the utility of the goods is no longer as great as their cost. Where there is evidence that the utility of goods‚ in their disposal in the ordinary course of business‚ will be less than cost The inventory has a financial importance as it is purchased and recorded at its historical cost or original cost. With respect to a perpetual inventory system
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Nikki Utt August 26‚ 2013 Case Study 1-6: Accounting in Crisis A) Reliable financial reporting is important to businesses and investors especially when a financial crisis forms and a company’s fundamentals are put to the test. In the early 2000’s the U.S and Canada were affected by the recession that had spread to other countries including Russia‚ Europe and Japan (Wikipedia‚ 2013). Many believe that the recession was caused by the economic boom of the late 1990s with minimal inflation
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WK3 Accounting Ethics 1. Evaluate the actions of the parties from the perspective of six pillars of character. The Josephson Institute of Ethics identifies Six Pillars of Character that provide a foundation to guide ethical decision making. These ethical values include trustworthiness‚ respect‚ responsibility‚ fairness‚ caring‚ and citizenship. Cindie knows and feels it is wrong to close up early and be left alone to close up the store. In my opinion Cindie should have not waited two weeks before
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Assignment 1—Due Wednesday 28rd September‚ 2012 Please Note: There are three (3) questions in this assignment. Question 1: Plagiarism and referencing Although this question is not awarded marks‚ students MUST complete this entire question to get any marks for assignment 1. An understanding of plagiarism and “in text” referencing is essential to success in tertiary studies. Background information for Question 1 In an academic setting it is important to acknowledge the ideas of others that you
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Case 3.1 Enron: Understanding the Client’s Business and Industry Price‚ Ria; Walters‚ Jessica 1. Inherent risk‚ a component of the audit risk model‚ refers to the susceptibility of the accounts to material misstatement‚ without regard to the systems internal controls. Inherent risk is a function of the nature of the client’s business‚ the major types of transactions‚ and the effectiveness and integrity of its managers and accountants. A clear understanding of the audit client’s business model is essential in assessing
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Introduction The parade of corporate accounting scandals of the last decade‚ with lion’s share occurring in 2002‚ has developed deep antipathy and distrust towards corporations and their reporting practices‚ and casted doubts on the opinions of audit firms. As majority of these accounting frauds occurred in the US (See Appendix)‚ there was a widely-held view that rules-based accounting standards have allowed failure of large corporations like Enron and World Com‚ since US GAAP is perceived to
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Introduction Schipper (2003) who is a member of FASB conducted a study on the rules-based and principles-based accounting standards. The aim of this article is to discuss the attributes and potential effects of transferring from rules-based standards to principles-based standards. To some extent this article is critical‚ but several limitations need to be discussed‚ such as implementation guidance. Summary Schipper (2003) demonstrated that there was a long-running debate on whether U.S. GAAP
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