.................................. 14 3. Income statement: Income from continuing operations ................................................................................ 17 Discontinued operations ............................................................................................... 19 Extraordinary items ..................................................................................................... 22 Accounting changes and prior period adjustments .................
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0041 – Financial and Managerial Accounting – Assignment Roll No. 1305015785 Name of the Student: Pallab Kakoti Email id: ksetrajna@gmail.com Mobile : 958 256 3250 Q1. Accounting is one of the oldest‚ structured management information system. Give the meaning of accounting and book keeping? Explain the objectives of accounting? Accounting‚ as an information system is the process of identifying‚ measuring and communicating the economic information of an organization to its users who need
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revenue Varies across different firm Eg. Produce goods→sale →collect cash→provide after sale service Contract-Based Approach Contract-Based Approach Contract is recognized when all of the following conditions are met: 1. The entity is party to the contract‚ 2. The contractual rights are collectible/measurable‚ and 3. The performance obligation is measurable Net contract position represents the balance of contractual rights less contractual obligations Initial balance of net contract
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Received: | 1 of 1 | | Comments: | | | | 7. | Question : | Net working capital is equal to | | | Student Answer: | | total assets minus total liabilities. | | | | current assets minus total liabilities. | | | | total operating capital minus net income. | | | | current assets minus current liabilities. | | | | Points Received: | 1 of 1 | | Comments: | | | | 8. | Question : | What was the average annual rate of return on 3-month U.S
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fair value accounting. Fair value accounting is to measure selected assets at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The objective of fair value accounting is linked with the objective of ‘decision usefulness’ of general purpose financial reporting. That is‚ to provide relevant information that is representationally faithful for users. IASB’s (and FASB’s) accounting standard
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Accounting The nature of work of accountants and auditors is to prepare‚ analyze‚ and verify financial reports and taxes‚ and monitor information systems that furnish this information to managers in business‚ industry‚ and government. The major fields of accounting are Public accountants who have their own business or work for public accounting firms. They perform a large range of responsibilities such as doing taxes‚ numerous accounting and auditing‚ consulting activities for their clients‚
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Financial Accounting and Reporting Case: America Online 1. What accounting approach has AOL used in the past that it is now changing (related to the $385 million)? AOL‚ prior to October 1‚ 1996‚ recorded the expenditure related to subscribers acquisitions as an asset and amortized monthly over a period < 24 months. This was a strongly criticized approach. Furthermore‚ the accounting approach in the article is considered aggressive. In October 1996‚ they discontinued capitalizing customer acquisition
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Background The accounting profession seems to be ever changing and is currently facing many challenges. It is a well-known truth that the world we live in is changing at a great speed. The accounting profession does not make an exception and it can be said that it is constantly changing‚ reorganizing and standing in front of many challenges of the modern world. Nowadays‚ accounting standards are undergoing the most significant reorganization in nearly a century with the Financial Accounting Standards
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FINANCIAL INVESTMENT OPPORTUNITIES Before starting to explain the details of investing is necessary to be clear about the aspect I believe is the most important into every business activity: The Knowledge. The knowledge is the factor that puts an investor into a better position respect than another one‚ knowing what is surrounding you and how it works is vital in order to make a successful business activity‚ specially investing. No big countries will exist without big companies and societies
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A report on Senior Personal Financial Consultant Cousin Phuong & Company Prepared for: Ms Lai Chong Yee (Lecturer) Unit 39: Financial Investment Opportunities Banking Academy‚ Hanoi BTEC HND in Business (Finance) Prepared by: Đào Kim Tuyến – Sally – Class F04A Registration No.: ITP F04-193 Submission Date: 10 January 2013 Financial Investment Opportunities Đào Kim Tuyến – Sally – F04-193 TABLE OF CONTENTS INTRODUCTION ................................................................
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