Objective 1. Determine the total considerations transferred. 2. The land and buildings should be recorded on the premise of “in-use” or “in-exchange”. 3. Determine the fair value recorded for the intangible assets. Applicable accounting pronouncement ASC 805-20-25 Business Combinations-Identifiable assets and liabilities and any non controlling interest-Recognition Recognition Conditions 25-2 To qualify for recognition as part of applying the acquisition method‚ the
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correct picture on the firm’s financial performance and financial position. We have to recognize all transaction occurring in that accounting period‚ irrespective of whether cash has been received or paid. The ultimate objective of adjusting entries is to ensure that the revenues (income) earned in the accounting period are matched by all costs incurred for that same accounting period (Monash College‚ 2011). Prepayment There are two types of adjusting entries‚ prepayments and accruals. Prepayment is
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Andrew Jackson was a man of his time‚ elected in 1828 he became the seventh president of the United States of America. He leads several victorious battles during his time‚ this includes when he lead an attack on the British on January 8‚ 1815‚ since this leap was taken it helped contribute to his presidency. As read within the Background Essay‚ he started out as the Tennessee representative at only 29 he gradually moved up within a year to become the senate. In 1824‚ Jackson decided to run for president
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Andrew Jackson‚ Was He a Great President or a Villain? Christina Nguyen November 18‚ 2015 US I HIS 121 Fall 15 Instructor: Verzosa President Andrew Jackson‚ the first man from the western state of Tennessee voted into office in 1828‚ was one of the most controversial president in American history. As the American political party system takes its shape‚ Andrew Jackson became the leader of the newly established Democratic Party. Andrew Jackson represented and appealed to the common man. Jackson‚ as
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Interview with Shirley Jackson I still remember the day we were assigned to do a research paper on a piece of literature we had read in my English 198 class. The story I chose to write my paper on was “The Lottery” by Shirley Jackson‚ it was one of my favorites. Luckily for me Mrs. Jackson lived in my neighborhood and my parents were friends with her and her husband. So I knew it would not be difficult to set up an interview with her for my research paper. One day after getting home from school
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[APC309 STRATEGIC MANAGEMENT ACCOUNTING Individual Assignment : Task a and Task b ] Table of Contents Part a 1.0 Introduction to performance management …………………………………………………………………………….2 2.0 EVA and ROI ……………………………………………………………………………………………………………………………2 3.0 Mangers orientation due to using EVA and ROI……………………………………………………………………….3 4.0 Overcoming the short term nature of EVA and ROI………………………………………………………………….4 5.0 Appendix…………………………………………………………………………………………………………………………………8 Part b 1.0 Introduction
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CHAPTER 1 Managerial Accounting ASSIGNMENT CLASSIFICATION TABLE Brief Exercises 1 A Problems B Problems Study Objectives *1. Explain the distinguishing features of managerial accounting. Identify the three broad functions of management. Define the three classes of manufacturing costs. Distinguish between product and period costs. Explain the difference between a merchandising and a manufacturing income statement. Indicate how cost of goods manufactured is determined. Explain the difference
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to suppliers. Liability (D) Bonds payable. Liability (E) Amount earned from selling a product. Revenue (F) Cost of advertising. Expense Part 2 Ex 1-8 (A) An expression about whether financial statements conform with generally accepted accounting principles. – 8 Auditors opinion (B) A business that raised money by issuing shares of stock. – 1 Cooperation (C) The portion of stockholders’ equity that results from receiving cash from investors. – 6 Common Stock. (D) Obligations to suppliers
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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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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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