7101AFE Financial Accounting Theory and Practice Tutorial Questions for Tutorials 1- 6: Semester 1 2015 TUTORIAL 1 - Semester 1 2015 Deegan Topic 1: Introduction to financial accounting theory QUESTION 1 – Question 1.2: If you developed a theory to explain how a person’s cultural background influences how they prepare financial statements‚ would you have developed a positive theory or a normative theory? The first of all‚ it is important to understand the mean by a ‘theory’. According to Contemporary
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Michigan university | Is It Fair to Blame Fair Value Accounting for the Financial Crisis? | By Robert C. Pozen | | Luma Raha | 10/12/2011 | The article from the Harvard Business Review‚ "Is it Fair to Blame Fair Value Accounting for the Financial Crisis?" ‚ author Robert Pozen stipulates that the fair value accounting principles did not cause the financial crisis of 2008‚ but certainly aggravated it by common misconceptions about accounting standards. The article defines mark-to-market
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MEANING OF ACCOUNTING: Accounting is the process of recording‚ classifying‚ summarizing‚ analyzing and interpreting the financial transactions of the business for the benefit of management and those parties who are interested in business such as shareholders‚ creditors‚ bankers‚ customers‚ employees and government. Thus‚ it is concerned with financial reporting and decision making aspects of the business. The American Institute of Certified Public Accountants Committee on Terminology proposed in
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title: An investigation report on accounting and financial control Submission date: 21st September 2012 Submitted by: Ahmed Shahir ATHE registration number: Table of contents Introduction 2 Purpose and requirements for keeping financial records 3 Techniques for recording financial information 3 Legal and organisational requirements of financial purpose 4 Usefulness of financial statements to stakeholders 5 Difference
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BAO3309 Advanced Financial Accounting Semester 2011 Non-Graded Assessment There are 1 Multiple Choice Questions and you have 13 minutes to complete this assessment 1) Which of the following is true about theories in general? A. Theories can include any coherent set of ideas or statements to explain‚ or provide guidance in respect of‚ certain phenomena B. Theories must be empirically based to describe what is‚ rather than what should be C. Theories must be based on
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Communication contexts Unit 3 Starter What are the different types of communication? Think about a day in school Who are all the different people that you might communicate with today‚ at home and at school? Which groups of people do you communicate with most easily? Why? Explain your reasoning WALT – describe different forms of communication All to state the different contexts for communication Most to describe the features of each context Some to explain why these types of communication
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ACC 2242 Assign#4.. Due Date …..Wednesday…Aug 07‚ 2013 8-35B 8-40B Fibre Systems Best Use of Facilities Analysis Make Buy and Use Facilities for Other Product Variable unit cost of obtaining the optical switches $ 13 $ 11 Number of optical switches × 80‚000 × 80‚000 Total variable cost of obtaining 80‚000 optical switches $1‚040‚000 $880‚000 Expected profit contribution from the other product — (130‚000) Expected
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Solutions to Exercises and Problems Tutorial 1 IFM Case 2-2 Case 2-2 SKD Limited 1. Goodwill a. There is no goodwill amortization expense in Country A‚ so the goodwill amortization expense recognized by SKD must be added back to determine income under Country A GAAP. SKD amortizes goodwill over a longer period (20 years) than is allowed in Country B (5 years)‚ so an additional amount of goodwill amortization expense must be recognized to determine income under Country B GAAP‚ which reduces
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Financial accounting information stakeholders duped It is a sine quo non for business leaders to use‚ rather than just produce financial information. I am in absolute agreement with this phenomenon in that the information generated by the international professional accounting community highly affects various stakeholders in the decision making process to govern businesses. Therefore any material elements within the financial information that boarder on misguidance will lead to corporate financial
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ii. Framework: iii. Financial Statements: iv. Analyzing Company Accounts v. Ratio Analysis II. MANAGEMENT ACCOUNTING 3 i. The Objectives of Management Accounting: ii. Scope of Management Accounting: iii. Functions of Management Accounting: iv. Advantages of Management Accounting: v. Limitations of Management Accounting: vi. Tools and Techniques: III. INTRODUCTION TO FINANCIAL RATIOS 8 i. Financial Ratio Analysis: ii. Users of Accounting Information: IV.
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