Week 3 DQ 1: Due Day 2 Please post a 150-300-word response to the following discussion question by clicking on Reply. What is the difference between cash basis and accrual basis accounting? Why do accrual basis financial statements provide more useful information than cash basis financial statements? Describe when each method (cash basis and accrual basis accounting) would be appropriate to use. * Cash basis accounting recognizes revenues when cash is received and records expenses
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Petrina Barkley IP 2 Managerial Accounting Karina KasztelnikAmerican Intercontinental University On-line Consider the following scenario: Andre has asked you to evaluate his business‚ Andre’s Hair Styling. Andre has five barbers working for him. (Andre is not one of them.) Each barber is paid $9.90 per hour and works a 40-hour week and a 50-week year‚ regardless of the number of haircuts. Rent and other fixed expenses are $1‚750 per month. Hair shampoo used on all clients is $0.40 per client
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1. Sources of GAAP and basic framework and concepts ........................................................... 3 2. Reporting net income ................................................................................................... 14 3. Income statement: Income from continuing operations ................................................................................ 17 Discontinued operations ...............................................................................
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1. Which of the following statements is true about hedge accounting under U.S. GAAP? a. If a derivative qualifies as a cash flow hedge‚ a company may choose to account for it as a fair value hedge. 2. When a currency is allowed to increase or decrease in value relative to other currencies‚ the currency is said to: a. Float 3. What has occurred when one company purchases the right to buy a foreign currency some time in the future at an exchange rate quoted today? a. the company has acquired
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every now and then and he agreed. Consider what Immanuel Kant would say‚ and explain that with reference to this week’s readings. Mosser‚ K. (2013) explains‚ “The most famous objection to the deontologist’s approach—specifically Kant’s—is the problem posed by lying. Lying is‚ of course‚ intentionally misleading someone to think something is true when it is false or false when it is true.” Immanuel Kant believes being truthful no matter what the circumstances is the right thing to do. Then‚ offer
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ACC2131 Cost Information for Decision Making Week 3 (Chapter 2) Tutorial Solutions Semester 1‚ 2015 Note to students: Beware! These solutions are not necessarily model answers. In exams‚ you will not have demonstrated your understanding of the answers to these exercises if you seek only to memorise them. You are encouraged to use tutorial time to discuss issues that will test and clarify your understanding of these exercises‚ as well as expanding your analytical and critical-thinking skills. 2.5
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User | Allis Faye Luster | Course | World Cultures II | Test | Week 3 Quiz | Started | 7/17/13 9:53 PM | Submitted | 7/18/13 1:32 AM | Status | Completed | Attempt Score | 72 out of 80 points | Time Elapsed | 3 hours‚ 39 minutes out of 4 hours and 30 minutes. | Instructions | | Question 1 2 out of 2 points | Why did Gabrieli organize his compositions around a single note-the tonic note? Answer
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This work of HCA 415 Week 3 Discussion Question 2 comprises: Essential Services Maternal and Child Health (M.C.H.) services are one of the basic services of local public health efforts. M.C.H. core services include: pre-natal care‚ post-natal care‚ neonatal care‚ and supervision of the health of school children. Select one of these core services and answer the following questions about the assurance of these public services: a. How does a public health system ensure that services
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In recent years‚ the range of accounting application is expanding rapidly‚ along with the increasing demand of economic market. As is well known‚ accounting is a key aspect of business. And in the accounting profession‚ there has been already existed interpenetration and overlapping among the different kinds of accounting. Cost accounting and financial accounting are two main components of accountancy. The former one is a part of accounting. In cost accounting‚ it dramatically researches the variable
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Accrual Accounting: Income is recorded as you invoice customers‚ and expenses are recorded when you receive bills from vendors‚ regardless of when cash is actually exchanged. This presents a truer picture of income and expenses. Most companies use this method. Cash-Basis Accounting: Income is recorded when cash (checks‚ money orders‚ or currency) is received‚ and expenses are recorded when paid. However‚ unpaid credit sales and purchases do not show on ledgers‚ which can present a misleading
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