Incomestmt-tax basis | | | | | | | | | | | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | | | | | Projected Sales | 25.375 | 32.25 | 45 | 65 | 80 | 95 | | | | | Sale price | 3200 | 3200 | 3200 | 3200 | 3200 | 3200 | | | | | Revenue | 81200 | 103200 | 144000 | 208000 | 256000 | 304000 | | | | | Labor Expense | 32250 | 32250 | 95000 | 95000 | 95000 | 95000 | | | | | Gross margin | 48950 | 70950 | 49000 | 113000 | 161000 | 209000 | | | | | Less | | | |
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Financial Statement Analysis Introduction to Management Accounting 561 August 31‚ 2010 Robert L. Hynous‚ Jr. Financial Statement Analysis The primary principle of the financial statement analysis is to examine the accounting books for the accountability of review each year-end for profit or loss in a company to be review by the stockholders. Team A will review the financial statement analysis of two American companies; United Parcel Service (UPS) a service‚ Talbots (TLB) a retailer‚
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comparative analysis of the guidelines under US-GAAP and IFRS about environmental accounting’s development‚ system and information disclosure‚ the essay discusses the globalization trend of environmental accounting. And lastly‚ the paper emphasizes the necessity for Chinese companies to move ahead in this area and provides some advice for an environmental accounting application for Chinese companies. Key Words: Environmental accounting‚ US-GAAP‚ IFRS‚ Environmental accounting application
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which level of service is used. This is a large body of rules that describe what information should be included in financial statements and the format for the information. This body of knowledge is called generally accepted accounting principles‚ or GAAP. Imperfect in implementation though it may be‚ the concept is that similar transactions will be recorded by all organizations in the same way. In addition‚ financial statements of similar organizations will actually look similar. Compilation The
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will have an effect on current earnings and will need to be reported properly in their 2007 Income Statement. AWI must report this continuing activity properly under US Generally Accepted Accounting Principles (GAAP). The FASB Accounting Standards Codification (ASC)‚ commonly known as GAAP has specific standards that must be followed in order to classify the disposal of an entity as discontinued or continues operation of a component of an entity. Under the guidance of numerous ASC’s‚ AWI does not
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References: Aboody‚ D.‚ Barth‚ M. E.‚ & Kasznik‚ R. 1999. Revaluations of fixed assets and future firm performance‚ Evidence from the UK Amir‚ E.‚ Harris‚ T. S.‚ & Venuti‚ E. K. 1993. A Comparison of the value-relevance of U.S. versus Non-U.S. GAAP accounting measures using Form 20-F reconciliations. Journal of Accounting Research (Supplement 1993)‚ 230–64. Ball‚ R. 1972. Changes in accounting techniques and stock prices. Journal of Accounting Research‚ 10(2) (1)‚1–38. Ball‚ R. 1989. The firm
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Basic Insurance Accounting — Selected Topics By Ralph S. Blanchard III‚ FCAS‚ MAAA June 2007 CAS Study Note Basic Insurance Accounting – Selected Topics The purpose of this study note is to educate actuaries on certain basic insurance accounting topics that may be omitted in other syllabus readings. These topics include: • Loss and loss adjustment expense accounting basics • Reinsurance accounting basics • Examples of how ceded reinsurance impacts an insurers financial statements • Deposit
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The Relationship Between FASB and IASB Jennifer Purvis ACC 541 March 14‚ 2011 Delphine L. Agnor Wolsker The Relationship Between FASB and IASB Introduction The International Accounting Standards Board (IASB) was created after the Financial Accounting Standards Board (FASB) to establish a single set of accounting procedures and standards for both boards. The process has not always been an easy one‚ but the goal of merging the accounting standards globally overrides the disagreements. Overcoming
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Why are accurate financial statements important for outside business interests? Matt ACC 205: Principles of Accounting I Professor Kaplan Ashford University December 22‚ 2011 Accounting is specifically “a system by which economic information is identified‚ recorded‚ summarized and reported for the use of decision makers”; however‚ accounting involves interpretation and analyzing of all financial information‚ including taxing‚ personal financial information and investment (Alba
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Financial accounting reports are prepared for the use of external parties such as shareholders and creditors‚ whereas managerial accounting reports are prepared for managers inside the organization. This contrast in basic orientation results in a number of major differences between financial and managerial accounting‚ even though both financial and managerial accounting often rely on the same underlying financial data. In addition to the to the differences in who the reports are prepared for
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