ABE Level 6 Diploma Unit Title: Financial Accounting Learning Outcome: 1. Understand the framework of financial accounting. Please note that the content of this Lecture Guide is listed in its recommended teaching order‚ rather than in numerical order. Assessment Criteria/Indicative Content: 1.1 Describe the scope‚ objectives and main users of financial accounting information in accordance with the international framework of the International Accounting Standards Board: • Describe the scope and
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his decisions. The Seriousness of Stephen Richards Actions Stephen Richards manipulated Computer Associate’s quarter end cutoff to better align results with market expectations. Richards failed to take the Generally Accepted Accounting Principles (GAAP) into consideration without realizing the implications of his actions. Richard’s actions boosted Computer Associates reported earnings‚ by employing overly aggressive accounting practices. Exhibit three states‚ “within the accrual accounting system
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regarding GAAP‚ internal accounting policies and their relationship with external auditors that has caused the company to have to restate their published financial statements going back to 2008. In their 2010 10K report on page 19 it is stated that "We lacked a sufficient number of accounting professionals with the necessary knowledge‚ experience and training to adequately account for and perform adequate supervisory reviews of significant transactions that resulted in misapplications of GAAP. Information
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and reports financial and nonfinancial information to help managers make decisions to fulfill organizational goals. Managerial accounting need not be GAAP compliant. Financial accounting—focus on reporting to external users including investors‚ creditors‚ and governmental agencies. Financial statements must be based on GAAP. © 2012 Pearson Education. All rights reserved. 2 Major Differences Between Financial and Managerial Accounting Managerial Accounting Financial Accounting
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However‚ when determining if any impairment has occurred on Eagle’s Italy building under U.S. GAAP we would need to compare the carrying amount of the long-lived asset against its fair value. (ASC 360-10-35-17) Therefore we look at undiscounted future cash flows‚ which equal $1‚150‚000 and see that this exceeds the building’s carrying amount of $1‚100‚000. So the Italy building is not impaired under U.S. GAAP. The other major part of Eagle’s business that we must investigate for Eagle’s future is
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serve consumer culture?" The Alliance In the present day globalization is ruling the world‚ where certain concepts and ideologies are dominate and it can be claimed that popular culture and consumer culture are the roots of it‚ as they both promulgate similar ideologies and products that contribute to forming a globalized world. Consumer culture can be defined as "a culture in which the majority of consumers avidly desire (and some noticeable portion pursue‚ acquire and display) goods and
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Health Care Financial Management: Reporting Practices and Ethics Marvin Dumlao HCS/405 April 6‚ 2010 Lisa Sanders Health Care Financial Management: Reporting Practices and Ethics Whether operating as for-profit or non-profit‚ organizations must pay close attention to accounting practices and adhere to sound financial management procedures to remain solvent. This applies to health care organizations as well
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I study about the marketing strategy of Pepsi and its impact on customer side. To know about the customer perception towards PepsiCo’s product and Brand Image. I also research on the customer satisfaction level. I study about how PepsiCo provided different value to their different customer. PepsiCo offers the world’s largest portfolio of billion-dollar food and beverage brands‚ including 18 different product lines each generating more than $1 billion in annual retail sales. PepsiCo nourishes consumers
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Master of Business Administration- MBA Semester 1 MB0041 – Financial and Management Accounting Assignment 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 Accounting is an information science used to collect‚ classify‚ and manipulate financial data for organizations and individuals. According to the definition given by American Institute of Certified Public Accountants
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fiscal year when goals/expectations need to be met so the auditors need to wait until the books are closed to begin their review. B. Managers often report ‘pro-forma’ or ‘non-GAAP’ earnings as supplemental information when reporting their GAAP earnings. i. What info can a pro-forma earnings number provide that the GAAP earnings number does not? Give examples of possible differences that might exist between the two earnings numbers. The pro-forma number can provide a better baseline representation
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