ACCOUNTING SUBSTANCE OVER FORM Substance over form is an accounting concept where the entity is accounting for items according to their substance and economic reality and not merely their legal form. It is one of the key determinants of reliable information. For most transactions there will be no difference and in some cases however‚ the two diverge and the choice of how to present the transactions can give very different results. This differences occurs when an asset or liability is not recognized
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Table of Contents Case 1 Introduction Jill’s business is expanding while the up going GST prevent her from gaining more profits. The idea of replacing the labor with the help of new equipment will bring about an unprofitable break-even point. However Jill still insist on borrowing from bank to invest in the equipment regardless of the CVP analysis result‚ which raised some ethical issues. Analysis Question 1 Defining the stakeholders There are 5 major stakeholders arising
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ERP as Software as a Service *(*SaaS*)* for SMEs Table of Contents Page Abstract The main barriers for implementing ERP systems in SMEs were constraints in terms of resources and information‚ implementation time escalations‚ poorly defined organisational structures‚ weak formalisation of procedures or processes‚ unclear and also confused understanding amongst the employees and management. There are various methods to overcome the barriers of implementing ERP solutions in SMEs. This
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Statements on Management Accounting PRACTICE OF MANAGEMENT ACCOUNTING TITLE Definition and Measurement of Direct Material Cost TABLE OF CONTENTS Definitions . . . . . . . . . . . . . . . . . . . . . . . . . Materiality . . . . . . . . . . . . . . . . . . . . . . . . . Material Quantities . . . . . . . . . . . . . . . . . . . Material Lost in the Production Process . . . . Samples‚ Prototypes‚ and Initial Production Runs . . . . . . . . . . . . . . . . . . 1 2 2 2 3 Unit Price of Direct Material
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101-00128 Oct 2014 Accounting Accounting is the recording‚ measurement‚ and interpretation of financial information (Business 286). This financial information is used to evaluate the organization’s operations. To carry out these interpretations of financial information a public or private accountant is able to do this. To become a public accountant you must earn your CPA (certified public accountant) by passing a test and means you are certified by the state in which you provide accounting services where
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Section A Under Case Study (Newspaper) HB Global 1. Types of audit opinion Qualified opinion * A qualified opinion report can result from a limitation on the scope of the audit or failure to follow generally accepted accounting principles Adverse opinion * It is used only when the auditor believes that the overall financial statements are so materiality misstated or misleading that they do not present fairly the financial position or results of operations and cash flows in conforming
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Two new software projects are proposed to a young‚ start-up company. The Alpha project will cost $150‚000 to develop and is expected to have annual net cash flow of $40‚000. The Beta project will cost $200‚000 to develop and is expected to have annual net cash flow of $50‚000. The company is very concerned about their cash flow. Using the payback period‚ which project is better from a cash flow standpoint? Why? 3. A five-year project has a projected net cash flow of $15‚000‚ $25‚000‚ $30‚000
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SLIDE 1: What is automation Testing? In software testing‚ test automation is the use of special software (separate from the software being tested) to control the execution of tests‚ the comparison of actual outcomes to predicted outcomes‚ the setting up of test preconditions‚ and other test control and test reporting functions. Commonly‚ test automation involves automating a manual process already in place that uses a formalized testing process. Goal of Automation is to reduce number of test cases
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Vision and Scope Document 1. Business Requirements 1.1 Background‚ Business Opportunity‚ and Customer Needs A majority of Process Impact employees presently spend an average of 60 minutes per day going to the cafeteria to select‚ purchase‚ and eat lunch. About 20 minutes of this time is spent walking to and from the cafeteria‚ selecting their meals‚ and paying for their meals by cash or credit card. When employees go out for lunch‚ they spend an average of 90 minutes off-site. Some employees phone
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MAA103 & MAAP103 - Accounting for Decision Making ASSIGNMENT – TRIMESTER TWO‚ 2011 (Relates to Topic 4) Represents 20% of the assessment for this unit DUE DATE: ASSIGNMENT PLANNER: MONDAY 1 AUGUST‚ BY 5.00pm FINAL ASSIGNMENT: THURSDAY 8 SEPTEMBER‚ BY 5.00pm NOTE the following general submission points: 1. 2. 3. 4. 5. Assignment can be completed in groups of no more than THREE students. Students CAN NOT complete assignment with students from other lecturers classes. Only ONE hardcopy of
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