U. S. Generally Accepted Accounting Principles (U. S. GAAP) and International Financial Reporting Standards (IFRS) There are numerous companies that use different types of accounting standards or rules. International Financial Reporting Standards (IFRS) and U.S. Generally Accepted Accounting Principles the most popularly used by companies. IFRS is a set of accounting standards that provides a global framework for how public companies prepare and disclose their financial statements. The U.S. Generally
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Student Number: __________________________ Pages: 12 Questions- Section A: 6 Section B: 15 UNIVERSITY OF TASMANIA EXAMINATIONS FOR DEGREES AND DIPLOMAS October- November 2008 BFA707 THE ACCOUNTING FRAMEWORK Examiner: Mrs Debbie Wills Time Allowed: THREE (3) hours Instructions: This examination paper is to be marked out of 100. It has two sections. Write your student number clearly at the top of this examination paper. Hand in the examination paper. Do not remove any part
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Homework Week 2 Exercise E1-1 SEC – K Audit – G Sole Proprietorship – I Corporation – E Accounting – A Accounting Entity – D Audit Report – J Cost Principle – F Partnership – C FASB – L IASB – H Unit of Measure – B GAAP – N IFRS – M E1-2 Accounts receivable – Asset Cash and cash equivalents – Asset Net sales – Revenue Notes payable – Liability Taxes payable – Liability Retained earnings – Stockholders’ Equity Cost of products sold – Expense Marketing‚ administrative
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sentences) 4. Second piece of evidence with citation 5. Commentary sentences (2-3 sentences) 6. Transition/ Closing Sentence (1 sentence) BODY PARAGRAPH 2 (REASON 2) 1. Topic Sentence (1 sentence) 2. One piece of evidence with citation 3. Commentary sentences (2-3 sentences) 4. Second piece of evidence with citation 5. Commentary sentences (2-3 sentences) 6. Transition/ Closing Sentence (1 sentence) BODY PARAGRAPH 3 (COUNTERARGUMENT AND REFUTATION) 1. Topic Sentence (1 sentence)
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ACTG2010 Exam-AID session. It is intended for students enrolled in any section of Introduction to Financial Accounting – ACTG2010 course who are looking for an additional resource to assist their studies in preparation for the exam. References Friedlan‚ John. Financial Accounting: A Critical Approach. Toronto: McGraw-Hill Ryerson‚ 2010. Print. Richardson‚ Alan J. Cases in Financial Accounting: A Principles-based Approach. Toronto‚ ON: Nelson‚ 2007. Print. Contents Chapter 1: page 2 Chapter
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It also allows them to assess in what areas they could possibly make investments. e. International Aerospace Machinists‚ a labor union representing many Boeing employees. This organization would find interest in their financials to make sure that the compensation of the employees is fair. In most cases when a union is involved‚ there is a percentage of compensation that has been agreed upon. 1.7) Financial accounting (i) Management accounting (h) Financial reporting
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CHAPTER 1 FINANCIAL ACCOUNTING AND ACCOUNTING STANDARDS Multiple Choice—Conceptual Answer No. Description d 1. Users of financial reports. d 2. Identify the major financial statements. a 3. Financial reporting entity. d 4. Efficient use of resources. d 5. Capital allocation process. c 6. Financial statement information. c 7. Objectives of financial reporting. b 8. Common set of standards and procedures. c 9. Role of SEC. c 10. Powers of the SEC. d 11. SEC enforcement
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Complete accounting cycle For the past several years‚ Abby Brown has operated a part-time consulting business from her home. As of June 1‚ 2012‚ Abby decided to move to rented quarters and to operate the business‚ which was to be known as Square One Consulting‚ on a full-time basis. Square One Consulting entered into the following transactions during June: June 1. The following assets were received from Abby Brown: cash‚ $30‚000; accounts receivable‚ $7‚500; supplies‚ $2‚000; and office equipment
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Results In this experiment we used paper chromatography to determine the amount of chlorophyll a‚ chlorophyll b‚ xanthophyll‚ and beta-carotene in a tube of blended leaf extract. We recorded our findings on the table labeled table 1. Table 1 shows the transmittance at each wavelength on a table from 400 to 720. The information on Figure 1 came from the leaf extract on the paper chromatography that we used; with the help of acetone we saw the spectrum and the differences of the different pigments
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Explain the importance of closing a session Each counselling session is likely to be emotive which will leave the client vulnerable to the outside world of the counselling room. Since some difficult topics are likely to be discussed and the client is likely to express a variety of emotions‚ it can be hard to bring a session to an end. Sometimes it can feel that the timing of the endings is insensitive to the clients needs. It is extremely important to summarise accurately and sensitively to confirm
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