Questions 2014S1 QUESTION 1 (8 Marks) Financial Reporting Principles‚ Accounting Standards and Auditing‚ & Sustainability Reporting Provide short answers to the following: 1. What are generally accepted accounting principles? (2 Marks) 2. If you have a good idea and expect to make a lot of money from the idea is that a sufficient reason to recognise an asset? Explain why or why not. (2 Marks) 1 ACCT1501 Practice Exam Questions 2014S1 3. How can financial information be relevant
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Auteurs: Mohammed ‚ Ali Abusalah Elmabrok Mohammed‚ A. Année : 2012 A Practice Note 17 (PN17) Company is a listed company in the Malaysian Stock Exchange that is financially distressed or does not have a core business or has failed to meet minimum capital or equity (Less than 25% of the paid up capital). Financial ratio analysis method can be used to detect the failure of this company. As of 9th August 2010‚ there are still thirty four companies listed on Malaysian Stock Exchange classified under
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ACCT505 Part B Capital Budgeting problem Clark Paints Data: Cost of new equipment $200‚000 Expected life of equipment in years 5 yrs Disposal value in 5 years $40‚000 Life production - number of cans 5‚500‚000 Annual production or purchase needs $1‚100‚000 Initial training costs Number of workers needed 3 Annual hours to be worked per employee 2000 hrs Earnings
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THE PARMALAT SCANDAL The Parmalat situation started out as a fairly standard – although sizeable –accounting fraud. Not even the best auditors could prepare for what was to come from this company. The Parmalat group‚ a world leader in the dairy food business‚ collapsed and entered bankruptcy protection in December 2003 after acknowledging massive holes in its financial statements. This happened when billions of euros seem to have gone missing from the company’s accounts. This dramatic collapse
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Evaluating a Company’s Budget Procedures Springfield Corporation operates on a calendar-year basis. It begins the annual budgeting process in late August‚ when the president establishes targets for the total dollar sales and the net income before taxes for the next year. The sales target is given to the Marketing Department‚ where the marketing manager formulates a sales budget by product line in both units and dollars. From this budget‚ sales quotas by product line in units and dollars
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NPV A Item Years "Amt of Cash Flow" "20% FACTOR" "PV of Cash Flows" Annual Cost Savings 1 - 7 80000 3.605 288400 Initial Investment NOW -300000 1 -300000 Salvage Value 7 20000 0.279 5580 Net Present Value -6020 NPV B Item Years "Amt of Cash Flow" "20% FACTOR" "PV of Cash Flows" Annual Cost Savings 1 - 7 60000 3.605 216300 Initial Investment NOW -300000 1 -300000 Working Capital Released 7 300000 0.279 83700 Net Present Value 0 NPV A
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P6-3. Identifying components of earnings Requirement 1: a) Permanent earnings is the reported earnings component that is value-relevant. Permanent earnings are those earnings that are expected to continue into the future. This component roughly corresponds to income from continuing operations as reported in the income statement. b) Transitory earnings is the earnings component that is value-relevant‚ but not expected to persist into the future. This component roughly corresponds
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The Two Sides of the Family Business The Two Sides of the Family Business Many people may think it would be wonderful to run their own business. They can imagine the freedom of being their own boss‚ making the decisions in the day to day running of their company‚ and keeping the profits for themselves instead of spending their blood‚ sweat‚ and tears for someone else’s benefit. And if this was a family business? That can make it seem even more attractive. Working with loved ones‚ sharing in the
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Tan Sri Dato Dr Robert Kuok has been the 33rd richest person in the world‚ Over taking Tan Sri Dato Dr Yeoh Tiong Lay (YTL) ‚ Dato Ananda Krishnan and Dato Brian Tan. Kuok’s father arrived in Malaya from Fujian‚ China at the beginning of the 20th century‚ and Robert was the youngest of three brothers‚ born on 6 October 1923‚ in Johor Bahru. He claims he began in business as an office boy‚ and later started a business with relatives’ support. [2] In fact‚ upon graduation‚ he worked in the grains
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secondary target if you have one). Target Insight: What is important to understand about them (e.g.- what motivates them‚ what is important/not important to them‚ etc. 10 1-2 pages Selling Proposition (The “promise”) A succinct statement that describes the value that SuperSaver Card offers that sets them apart from the competition? Support Why should the target group believe what you are promising? 10 ½ to 1 page Marketing Strategies What are the 3-5 strategies you will follow to achieve
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