MANAGEMENT AND ACCOUNTING DEPARTMENT OF ACCOUNTING SUBJECT: ACCOUNTING THEORY AND PRACTICE PREPARE FOR: DR.NORHAYATI MAT HUSIN PREPARE BY: NUR FADZILAH BT NORIZAN (AC086628) NUR IZYAN BT MOHD ISHAK (AC086934) NURUL AQILAH BT ZAMRI (AC085167) THILAGA SEGARAN (AC086628) BACHELOR IN ACCOUNTING (HONS) CASE 1: WASTE MANAGEMENT a) Define the matching principle and explain why it is important to users of financial statements
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remaining economic life of the asset. Q4-3 Amortization of a differential is the most common reason for investment income to be lower than a proportionate share of reported income of the investee. If Turner Company has paid more than book value for the shares of Straight Lace Company‚ the differential must be assigned to identifiable assets and liabilities of the investee‚ or to goodwill. Those amounts assigned to depreciable and identifiable intangible assets must
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Page 1 Forensic Accounting In Practice Ronald Wimberly-EL Bagher Fardanes‚ Ph.D‚ MPA Business 508 May 19‚2013 Running Head: Forensic Accounting In Practice Page 2 The five
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INTRODUCTION : Managerial accounting is concerned with providing information to managers – that is ‚ people inside an organization who direct or control it’s operations. Via managerial accounting managers understood that good business results come from dynamic processes ‚ procedures and practices that are well designed and properly implemented and managed. Certified management accountants are qualified to help their fellow managers achieve good business results because they have earned an advanced
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INTERNATIONAL FINANCIAL REPORTING STANDARDS(IFRS) are designed as a common global language for business affairs so that company accounts are understandable and comparable across international boundaries. They are a consequence of growing international shareholding and trade and are particularly important for companies that have dealings in several countries. They are progressively replacing the many different national accounting standards. The rules to be followed by accountants to maintain books
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Are you a small business owner or a corporate employee who is looking to solve tax related issues? Or maybe you are just an average person that has had some major financial setbacks over the past couple of years and have not been able to pay your back taxes? If any of these are the case then you should consider consulting with an experienced tax relief attorney who can help you get out of serious tax related issues. These lawyers can assist you by providing you with all of their expertise and knowledge
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Accounting Standards The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) are working on a joint venture known as the convergence project. With more business’s doing business globally financial reporting is an issue among the differing countries. Some countries report their financial differently‚ while the United States uses Generally Accepted Accounting Principles (GAAP) the convergence project aims at making a uniform set of international accounting
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increase of more and more people saying that they are poor. Poverty cannot be ended if the one only increasing is the prices of basic needs of people. All of us are dreaming of a happy and bountiful life in the future‚ but how can you fulfill that dream if you cannot even send your children to school most especially in college. Most of the companies in the country require highest educational attainment from aspirants. And that is one of the reasons of the numerous unemployed and underemployed individuals
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A current issue involving the Native Americans and the federal government is the settling of Cobell vs. Salazar Lawsuit filed in 1996. The lawsuit alleged illegal conduct in the management of Native American money held in trust accounts and managed by the Bureau of Indian Affairs. The trust was established to allow nontribal groups to use Native American lands. The trust contains money from oil and gas production‚ coal production‚ grazing leases‚ and timber sales. Elouise Cobell was the treasurer
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Accounting Standard 10: Accounting for Fixed Assets • Fixed asset is an asset held for producing or providing goods and/or services and is not held for sale in the normal course of the business. • Cost to include purchase price and attributable costs of bringing asset to its working condition for the intended use. It includes financing cost for period up to the date of readiness for use. • Self-constructed assets are to be capitalised at costs that are specifically related to the asset and those
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