Small-Business Idea Recently the United States government has released funds for creating small businesses. An opportunity to acquire government funding for a business venture is one to take advantage of and to put dreams into reality. The intent of this paper is to outline the three main forms of business organizations including the tax and legal implications as well as the accounting requirements for each structure. In addition‚ this paper proposes creating a small business of a women’s only gym
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Questions STR 581 STR581 Week 4 Capstone Final Examination‚ Part 2 Which of the following financial statements is concerned with the company at a point in time? income statement statement of cash flows retained earnings statement balance sheet 2 A cost which remains constant per unit at various levels of activity is a: fixed cost mixed cost variable cost manufacturing cost 3 MM Proposition
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set timeframe. One of the financial statement used by investors‚ creditors‚ and mangers is the balance sheet. The second statement used by accountant’s income statement‚ which is also important to shareholders. The third statement is the retained earnings statement‚ and the fourth financial statement is the statement of cash flows. Each financial statement has a different purpose and shows different aspects of the company’s finances. However‚ these financial statements are integrated and work together
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Types of Statements Financial statements are used to record a business’ activities. They are used as key components to making business decisions. There are four financial statements. These statements are the income statement‚ balance sheet‚ retained earnings statement‚ and statement of cash flows. Income Statement An income statement is used best for tracking the operations of a business during a specific period of time (Kimmel‚ Weygandt‚ Kieso‚ 2009). The income statement provides information about
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financial information system of accounting. One must have knowledge of numbers when working in accounting. The three basic activities in accounting are identifies‚ records‚ and communicates. The four financial statements are income statements‚ retained earnings statement‚ balance sheet‚ and statement of cash flow. Internal and external users are the groups that review financial information (Weygandt‚ 2008). The preparation of financial statements‚ are in an uncomplicated layout‚ easy to understand. Reporting
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Ways to improve the earnings quality in acquisitions and mergers In recent years‚ acquisition and merger activities have boomed as result of improvement in economy and corporate earning. Along with the growing acquisitions and mergers‚ the risk of earnings manipulation and fraud embedded in related complicated transactions has also increased. From past experiences‚ three most common areas that have high risk of earnings management are research and development expenditure‚ restructuring costs
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SHC 4153 Accounting Theory and Practice Case Study The Earnings Game: Everyone Plays‚ Nobody Wins. Group member: Chong Li Yun | AH090043 | Ho Shuang Tien | AH090095 | Chua Huey Shieng | AH090053 | Lau Foong Seong | AH090126 | Aminah binti Nasaruddin | BH100002 | Lecturer: Dr. Aniza binti Othman INTRODUCTION It is all about the shares price. The shares market is so active and everybody wants to win in this game. In reality‚ nobody would want to become a loser. They try to
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in millions. Retained earnings‚ January 1‚ 2006 $37‚980.0 Materials and production expense 6‚001.1 Marketing and administrative expense 8‚165.4 Dividends 3‚318.7 Sales revenue 22‚636.0 Research and development expense 4‚782.9 Tax expense 1‚787.6 Other revenue 2‚677.1 Hint: Prepare income statement and retained earnings statement. (SO 4) Instructions (a) After analyzing the data‚ prepare an income statement and a retained earnings statement for the year ending
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Written Project ACCT 301 Professor Chen From the case we discuss‚ LabCo’s accounting policy for recognizes revenue from construction contract is reasonable. According to ASC605-35-25-61‚ an entity… shall use the completed-contract...for which reasonably dependable estimates cannot be made or for which inherent hazards make estimates doubtful. LabCo Company uses a normal standard for its accounting policy which is using Percentage of complection method base on how it determine the profit (cost-to-cost
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according to the cause that motivates them. Retained Earnings Statement Retained earnings refer to the portion of the dividends distributed to partners or shareholders. When determining the usefulness of a given year‚ we proceed to distribute the company ’s partners‚ and in some cases‚ the assembly of partners or shareholders decides not to distribute all profits‚ leaving part of them or even all retained. One of the reasons why the earnings are retained is to protect the liquidity of the company
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