EBC4074 Financial Accounting Consolidation Wholly owned subsidiaries & Intragroup transactions Seminar 1 - Réka Felleg School of Business and Economics Sharing Success Agenda • • • • Key steps Problem 22.4 Break (?) Problem 23.3 Seminar 1 - Wholly owned subsidiaries & Intragroup transactions Slide 2 Key steps • Acquisition analysis – Identify an/the acquirer – Determine the acquisition date – Recognize and measure FV of identifiable assets acquired‚ liabilities assumed
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Paper on Role of Accounting & MIS in Decision Making Submitted By Prof. Neeraj Dubey* Prof. Umesh Sharma** ………………………………………………………………………………….. *Faculty Department of Management Studies SRIIT Banmore‚ Gwalior (M.P.) Email: neerajsriit@gmail.com Ph.: 9425775758 ** Faculty Dept. of Management Studies M.P.C.T. Gwalior (M.P.) Ph.: 9301121672 Abstract In current scenario the professional decisions of the managers are based on organizational data and not merely the gut feelings of
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Accounting has been around since the beginning of civilization. ¡§Accountants participated in the development of cities‚ trade‚ and the concepts of wealth and numbers.¡¨ (Giroux) The importance of accounting cannot be overemphasized. Equally important are the standards used to guild the application of accounting practice. Without principles and standards‚ financial reporting would not fairly present the financial position of a company. Accounting has changed and evolved vastly over time and continues
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Accounting is a process of obtaining‚ recording‚ classifying‚ summarizing‚ reporting‚ interpreting and presenting financial information or communicating the results of the transactions to users to facilitate making financial decisions. Accounting often uses a term that defines what is happening to make the process easier to understand. For example‚ asset is known as the resources that owned by the company or controlled by the accounting entity for future economic value. Asset can be categorized in
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years)‚ Initiative vs. Guilt (3 - 5 years)‚ Industry (competence) vs. Inferiority (6 - 12 years)‚ Identity vs. Role Confusion (13 - 18 years)‚ Intimacy vs. Isolation (young adulthood)‚ Generativity vs. Stagnation (middle adulthood) and Ego Integrity vs. Despair (old age). I am going to discuss the first two. At infancy‚ children learn to trust or/and mistrust people and environment. I still have family members I am uncomfortable being around because they use to tickle me as a child. Now there is always
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Following is an income statement calculated based on the different equity theories of accounting. Entity Theory Proprietary Theory Orthodox Unorthodox Residual Equity Theory Revenues $ 1‚000‚000 $ 1‚000‚000 $ 1‚000‚000 $ 1‚000‚000 Less: Operating Expenses Cost of goods sold $400‚000 $400‚000 $400‚000 $400‚000 Depreciation $100‚000 $100‚000 $100‚000 $100‚000 Salaries and Wages $200‚000 $200‚000 $200‚000 $200‚000
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2 CYP 3.1 2.3 | | | | |Theory |What it states |How it influences current practice | | |
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Financial Accounting Theory and Analysis” Text and Cases Case 1-2 Accounting Ethics a. What‚ if any‚ ethical issue is involved in this case? Legally the financial vice president is not obligated to move to the new standard; however‚ I do see an ethical issue with this decision. The ethical decision lies in the fact that the vice president is knowingly presenting financial statements that do not reflect the true condition of the company. This is a great example of the line between ethics
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Theory of Accounts 1. The fundamental qualitative characteristic of faithful representation has the components of a. Predictive value and confirmatory value b. Comparability‚ consistency‚ and confirmatory value c. Understandability‚ predictive value‚ and reliability d. Completeness‚ neutrality‚ and freedom from error 2. The amount reported as “Cash” on a company’s balance sheet normally should exclude a. Postdated checks that are payable to the company b. Cash in a payroll account c. Undelivered
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ACCOUNTING 592 Financial Accounting & Reporting Seminar Spring 2010 Instructor: Office Hours (subject to adjustment): Teresa Gordon Office Hours: W 8:30–11:00 AM Albertsons Bldg. 118 and T‚W‚Th 1:15 - 3:00 PM 885-8960 or by appointment E-mail: tgordon@uidaho.edu Course web page: http://www.cbe.uidaho.edu/Acct592 ------------------------------------------------- MASTER OF ACCOUNTANCY – LEARNING GOALS ------------------------------------------------- -------------------------------------------------
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