The State of Statements: Balance Sheets‚ Income Statements and Statements of Cash Flow Robert M. Traynor‚ Ed.D.‚ MBA CEO/Audiologist Audiology Associates‚ Inc. Johnstown‚ Colorado Introduction For most audiologists the patient is foremost in mind as we provide hearing care services. Successful practitioners know that when their practice is centered on their patient’s welfare‚ success will usually follow. Probably the greatest responsibility of the Robert G. Glaser‚ Ph.D. CEO/Audiologist Audiology
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ACC501: COMPUTERISED ACCOUNTING TUTORIAL 4 DISCUSSION QUESTIONS i. ‘Why are adjusting entries necessary? Surely they cause too much delay in preparing financial statements‚ and the financial effect of any entries made is immaterial in the long run.’ Respond to this criticism. ii. The owner of a business reviews the income statement prepared by you and asks‚ “Why do you report a profit of only $30 000 when cash collections of $100 000 were received and cash payments for the period totalled only
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An Extraordinary Person People walk in and out of your life every day. Some people move on through the heartache and pain‚ and others hold on to that one somebody who has made a lasting impression on their life. All of my life I was gratefully blessed to have a very special person to rely on. He was there for everything from birth. Everyone has certain people in their lives that mean a lot to them‚ but it really takes a grand person to be important to you. I have had many special people come
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executives. Financial statements are the final product of accounting process. Income statement provides data for investment and other decisions. The net income is essentially the common income statement form‚ consisting of classifications such as income from continuing operations‚ discontinued operations‚ extraordinary items‚ and cumulative effects of changes in accounting principles. In this study we investigate the relative ability of comprehensive income and net income to summarize firm performance
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Extraordinary Measures dramatizes the father’s quest to find a cure for Pompe disease‚ a relatively rare genetic condition that afflicts two of his three children. The quest brings into play three powerful‚ often competing human motives; a father’s love for his children‚ a scientist’s pursuit of knowledge and recognition‚ and a corporation’s mandate for profits. Crowley‚ an energetic marketing executive‚ and his wife Aileen are told that their children Megan(age eight) and Patrick (age six) have
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Underwater earthquake causing Tsunami. * The 2004 Indian Ocean earthquake was an undersea megathrust earthquake that occurred at 00:58:53UTC on Sunday‚ 26 December 2004‚ with an epicentre off the west coast of Sumatra‚ Indonesia. The quake itself is known by the scientific community as the Sumatra–Andaman earthquake. The resulting tsunami was given various names‚ including the 2004 Indian Ocean tsunami‚ South Asian tsunami‚ Indonesian tsunami‚ and the Boxing Day tsunami. * The earthquake was caused
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vHow are the hospital’s revenues and expenses grouped for planning and control? Patton-Fuller has two revenue categories; net patient revenue and other revenue. Patton-Fuller expense categories are; salaries and benefits‚ supplies‚ physician and professional fees‚ utilities‚ other‚ depreciation and amortization‚ Interest‚ and provision for doubtful accounts. The hospital’s revenue it broken up into two categories‚ the first being net patient revenue which consist of gross revenue generated
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1. Initial cash flow at t=0: Purchase: -$700‚000 Shipping and installation: -$100‚000 Depreciable basis = $800‚000 Old machine after taxes = $120‚000 - ($120‚000-$80‚000)(.40) = $104‚000 Initial Cash flow = -$800‚000 + $104‚000 = -$696‚000 Depreciation: Year 1: $800‚000 * .3333 = $266‚640 Year 2: $800‚000 * .4445 = $355‚600 Year 3: $800‚000 * .1481 = $118‚480 Year 4: $800‚000 * .0741 = $59‚280 Yearly revenue change: Decrease operating expenses of $90‚000 Incremental net cash flow
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2013 a calamity so unexpected and tragic struck the islands in Central Visayas. Recorded as the deadliest earthquake that struck the Philippines in 23 years‚ fear‚ anxiety and panic were felt all throughout the area. Houses collapsed‚ buildings got destroyed and churches had fallen. More crucially‚ lives had been taken. Currently‚ we’re still within weeks after the 7.2 magnitude earthquake‚ hit into the peaceful surfaces of Bohol and Cebu. The destruction brought about by the quake is heartbreaking—over
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Balance Sheet and Income Statement Commentary Belinda Greer BSA/500 March 24‚ 2012 Murali Ramachandran Balance Sheet and Income Statement Commentary Balance sheets and income statements are a snapshot of a company’s stability and financial situation. Combined the statements show the income‚ expenses‚ and stockholder’s equity in the company. These statements are often analyzed by financial institutions when a company comes to them needing a loan. Stockholders and other investors also look
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