Access the FASB Codification and prepare responses to the following questions, providing Codification references as support for your answers.…
1. Simplify user access to all authoritative U.S. GAAP by putting them all in one place with codification…
Items included in other comprehensive income shall be classified based on their nature. For example, under existing accounting standards, other comprehensive income shall be classified separately into foreign currency items, gains or losses associated with pension or other postretirement benefits, prior service costs or credits associated with pension or other postretirement benefits, transition assets or obligations associated with pension or other postretirement benefits, and unrealized gains and losses on certain investments in debt and equity securities. Additional classifications or additional items within current classifications may result from future accounting standards.…
Areas covered include: written and oral communication (C); technology (T); ethics (E); interpersonal skills (I); analysis (A); diversity (D); and the regulatory environment (R). The common bodies of knowledge associated with each assignment appear after the assignment on the syllabus.…
(2) The Issued Capital balance as at 1st July 2009 is only $1,000 and the then the company made a profit over 7 million;…
(This Accounting Standard includes paragraphs set in bold italic type and plain type, which have equal authority. Paragraphs in bold italic type indicate the main principles. This Accounting Standard should…
Malaysia Airlines (MAS) is the government owned flag carrier of Malaysia. Based in Kuala Lumpur, Malaysia, the airline flies to over 60 destinations across the globe to Europe, North America, Middle East, South Asia, East Asia, Australia and New Zealand. Currently it operates over 100 aircrafts of Boeing and Airbus fleet. MAS subsidiaries include MASKargo, MASwings and Firefly. Skytrax, the world’s largest and most reliable airline survey, registers MAS as a five star airline together with Singapore Airlines, Qatar Airways, Asiana Airlines and Cathay Pacific (Skytrax, 2012a). MAS is listed on the stock exchange of Bursa Malaysia. Recently the airline is facing constant high losses due to poor management, stiff competition from budget carriers and rising fuel costs. In 2011, Malaysia Airlines recorded a stunning net loss of RM2.52 billion, which was the largest in its…
MBA 607 – Financial Accounting The Nature and Purpose of Accounting Accounting Purpose and Process 1 MBA 607 – Financial Accounting The Nature and Purpose of Accounting 1. The Need for Accounting Information 2. The Accounting Profession 3.…
IFRS 5 is about non-current assets held for sale and discontinued operations, which state that the aims of disclosed discontinued operations and non-current asset disposal is to helped group of users of the financial statement to assess the financial effects. The definition of discontinued operation in IFRS may differ from other accounting standard, IFRS has defined discontinued operation is an asset or component of a company that either has been disposed or is regarded as held-for-sale, and also have any of the following conditions:…
The objective of the first question is to determine the amount of manufacturing overhead cost by using activity-based costing for FirstLine Cases, Inc. It is based on 6 activities cost pools, which are purchasing, material handling, production orders and setups, inspection, frame and assembly and machine-related. Expected activity is categorized into producing standard briefcases and specialty briefcases.…
This study is about knowledge creation for practice in public sector management accounting by consultants and academics. It shows that researchers emphasize the importance of practice, but worry about the prospects of a successful cross-fertilization between practice and research, because of the pressure they feel to publish in international research journals. Their contacts with consultants are limited. Consultants have limited access to academic research, because of pressures from their daily work. Knowledge created by consultants is initiated by problems coming from practice; it has to be ready-made for application in practice, and is often a combination of explicit and tacit knowledge. However, our interviews with researchers show a more diffuse picture; the knowledge created by some of them is disciplinary-driven and fundamental, whereas the research of others is more problemdriven and applied. Our study hints at two intermediary groups, i.e. consultant-researchers and consultants working in the expertise centres of their firms, both of which can potentially overcome hindrances in the communication between…
Do corporate social responsibility (CSR) reports provide shareholders and stakeholders with useful information on corporate social and environmental performance or are they merely a public relations vehicle? Answer this question by reference to a variety of accounting theories.…
2. The topic should be assigned after discussion with the students in the class and should then be discussed at every stage of the submission of the project.…
b. Formulates rules, regulations and standards for licensing and accreditation of processed foods, drugs and other related products…
2,00,000 for five years from ICICI Bank @ 10% p.a. against security of his property. He…