ACC 556 – Financial Accounting for Managers Chapter 1 Homework Due Week 1 and worth 10 points Directions: Answer the following four questions on a separate document. Explain how you reached the answer or show your work if a mathematical calculation is needed‚ or both. Submit your homework assignment using the homework assignment link in the course shell. E1-1 Here is a list of words or phrases discussed in this chapter: 1. 2. 3. Corporation Creditor Accounts receivable 4. 5. 6. Partnership Stockholder
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Merchandise inventory is generally valued at the price for which the goods can be sold. reported under the classification of Property‚ Plant‚ and Equipment on the balance sheet. reported as a current asset on the balance sheet. often reported as a miscellaneous expense on the income statement. Items waiting to be used in production are considered to be finished goods. merchandise inventory. raw materials. work in progress. In a manufacturing business‚ inventory that is ready for sale is called store
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SHANGRI-LA You are partner in charge of the audit of Shangri‑La‚ Inc. The company is a real estate developer‚ specializing in luxury vacation areas. The company’s operations have been profitable‚ although not spectacular. Most of the development property is pledged as collateral for bank loans; there is a reasonable stockholders’ equity of about $10‚000‚000. Shangri‑La has a substantial
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professional conduct is clear that an accountant should follow all the six principles so that a healthy work environment could be created in the interest of the company‚ society and nation. The second discussion is focused on evaluation of ethicality of accounting activities. Manipulating the financial statements for personal interest or for loyalty towards company or its executives is unethical and the person responsible for such act will be punishable. Misstatement of financial statements is ethically wrong
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is provided for general guidance only and on the understanding that it does not represent‚ and is not intended to be‚ advice. Whilst care has been taken in its preparation‚ it should not be used as a substitute for consultation with professional accounting‚ tax‚ legal or other advisors. Before making any decision or taking any action‚ you should consult with an appropriate specialist or professional. No warranty is given to the correctness of the information contained in this document‚ or its suitability
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Machine Guarding—An Overview Overview Of Topic Machine operators who understand a machine’s hazards and how to control them will have a reduced risk of injury. Proper operation of the machine‚ including the machine guards‚ can improve productivity as well as safety. There are five general techniques for safeguarding machine operation‚ but all guards must be able to prevent contact‚ must be secured in place or be otherwise tamper-proof‚ must create no new hazards‚ should allow for lubrication
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Can Machines Think? Draft due: 2/25/13 Final draft due: 3/1/13 Introduction to Philosophy Section 05G Spring 2013 CO In the articles of Computing Machinery and Intelligence by Turing and Minds‚ Brains‚ and Programming by Searle‚ many different arguments are made for and against the claim‚ can machines think? Now just as they did in their articles‚ I will explain what I mean by machine and think. A machine is a mechanical object designed by human beings to assist us in our lives. And when I
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The Machine and Modernism “The Machine Stops” by E.M. Foster explores the collapse of modernistic ideas and the detrimental effects of human progression as a result of the Scientific Revolution and the Enlightenment. One of the characters‚ Kuno‚ realizes that flaws exist within the Machine they live in because it has failed him. Whereas‚ his mother‚ Vashti‚ worships the machine and all it has done for her‚ as it allows for her to live a comfortable life with all she feels that she needs. Modernism
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gooda available for sale. -the consistency principle states that the busineses should use the same accounting methods from period to period. -under the FIFO‚ the ending inventory is based on the cost of the most recent purchases. -the value of purchases remains the same irrespective of the inventory valuation method used. -using FIFO‚ the COGS is based on the oldest purchases. -the accounting conservatism principle requires that financial statements should report LEAST favorable figures. -do
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Extra Credit Paper April 23‚ 2013 Moral Machines – Ethics The future of computing and machinery is changing at such an extremely fast pace that we need to invest in the application of ethics to the world of machines. But there are many problems with programming a machine to act ethically. Ethics are simply emotional expressions and machines can’t have emotion. Computers don’t have the practical wisdom that Aristotle thought we use when applying our virtues. What about the ethics of the lesser
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