`Accounting 6135‚ Advanced Accounting Theory Arthur G. Hendricks‚ Ph.D.‚ CPA professor BU 410 Thursday 7:10 PM to 10:00 PM Required Texts 1. Scott‚ W.R.‚ Financial Accounting Theory‚ 5th edition‚ Prentice Hall (Pearson Education Canada‚ Ltd) 2009 (ISBN 978-0-13-207286-1) 2 Concepts Statement #7‚ Using Cash Flow Information and Present Value in Accounting Measurements‚ FASB‚ February 2000. 3. Optional; The Wall Street Journal. You are expected to read the financial pages of the news media
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Inventory Valuation 1 Lewis Corporation Case: 6-2 Page: 173 2 Lewis Corporation Traditionally used inventory valuation method: FIFO Uses periodic inventory system 3 Inventory Transaction 2005-2007 No. of Cartons Price per Carton 2005 2006 2007 2005 2006 2007 Beginning balance 1840 1020 1040 $20.00 Purchases 600 700 1000 $20.25 $21.50 $22.50 800 700 700 $21.00 $21.50 $22.75 400 700 700 $21.25 $22.00 $23.00 200 1000 700 $21.50 $22.25 $23.50 Sales 2820 3080 2950 $34
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income statement. F 10. Current operating performance approach. T 11. Reporting discontinued operations. F 12. Reporting extraordinary items. F 13. Irregular items. T 14. Intraperiod tax allocation. F 15. Reporting earnings per share. F 16. Computation of earnings per share. T 17. Prior period adjustments. F 18. Retained earnings restrictions. F 19. Comprehensive income definition. T 20. Reporting other comprehensive income. Multiple Choice—Conceptual Answer No. Description
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ACCOUNTING EQUATIONS 1. Show the accounting equation for the following transaction (i) Ram started business with cash 20000‚ stock 50000‚ building 30000 (ii) Sold goods to Amit for cash 20000 and credit 15000 (iii) Paid rent 500 and rent outstanding 150 (iv) Sold goods costing 12000 for Rs. 15000 (v) Accrued commission 2000 (vi) Furniture purchased from Lalit 12000 and paid 3000 in cash (vii) Received from Amit 13500 in full settlement (viii)
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The Principles of Islamic Accounting Definition and discussion of some accounting principles and how they are fit into Islamic framework to furnish an accounting system and procedures for Islamic Financial institutions will be considered here. The plan to study accounting principles From an Islamic perspective is to review these principles from the viewpoint of the Major Islamic principles which govern financial dealings and contracts‚ as mentioned In the Qur ’an. These are: 1- Realization
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Subject: Submission of Term Paper on “Partnership Accounting”. Dear Madam‚ It is an honor for us to submit the `Project Report’ on “Partnership Accounting” which is prepared as a partial requirement of the course named “Accounting Principles (F- 103)” of BBA program under Department of Finance of the Faculty of Business Studies‚ University of Dhaka. The main objective of study to help the student to have a clear concept about partnership accounting and give the idea of theoretical and mathematical
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ACTG2010 Exam-AID session. It is intended for students enrolled in any section of Introduction to Financial Accounting – ACTG2010 course who are looking for an additional resource to assist their studies in preparation for the exam. References Friedlan‚ John. Financial Accounting: A Critical Approach. Toronto: McGraw-Hill Ryerson‚ 2010. Print. Richardson‚ Alan J. Cases in Financial Accounting: A Principles-based Approach. Toronto‚ ON: Nelson‚ 2007. Print. Contents Chapter 1: page 2 Chapter
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American Accounting Association DOI: 10.2308/acch.2010.24.2.279 Accounting Horizons Vol. 24‚ No. 2 2010 pp. 279–296 COMMENTARY The American Accounting Association’s Financial Reporting Policy Committee’s Response to the Preliminary Views on Financial Statement Presentation The Financial Reporting Policy Committee of the Financial Accounting and Reporting Section of the American Accounting Association Mark Bradshaw‚ Carolyn Callahan‚ Jack Ciesielski‚ Elizabeth Gordon‚ Mark Kohlbeck
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PRINCIPLES OF ACCOUNTING(POA)/ACCOUNTING FOR MANAGERS(AFM) Basic Accounting Concepts & Terminologies ACCOUNTING- DEFINITION Accounting means the various technical activities performed by accountants‚ including financial accounting‚ bookkeeping and management accounting. Accounting is considered to be as old as money. However in 1494 Lucas Fra Pacoili‚ an Italian Merchant is universally regarded as the father of modern system of accounting or double entry system of accounting. Accounting has been
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Operating Income = Income – Operating ExpenseNOI= 16‚300.00 – 7280.00NOI = 9‚020.00 | | Req. 2 Unit Cost Per Service = Total Service Cost/Total Number of Services Provided UCPS = 7‚280.00 / 650 UCPS = 11.20 Unit cost to groom one dog = $11.20 P 16-25A Req. 1 Fido Treats | Schedule of Cost of Goods Manufactured | Year Ended December 31‚ 2012 | Beginning Work in Process Inventory | | 13‚400.00 | | Direct Materials Used: | | | | Beginning Direct Materials Inventory | - | -
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