------------------------------------------------- Introduction Chartered Accountants of Canada‚ also known as CICA‚ is a non-profit organization for accounting professionals in Canada. CICA has developed GAAP (generally accepted accounting principles) for Canadian accounting‚ and publishes guidance and educational materials on a number of accounting-related topics. It is one of the founding members of the International Federation of Accountants (IFAC) and the Global Accounting Alliance (GAA). Parent location
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Exercise #4 1. Working without taking a break. We try to get as much work done as we can in an hour. We work without taking breaks to get as much work done as we can in an hour. 2. I needed to bring work home. In order to meet the deadline. I need to bring work home in order to meet the deadline. 3. Unless the ground thaws before spring break. We won’t be planting any tulips this year. Unless the ground thaws before spring break‚ we won’t be planting any tulips this year. 4. Turning the lights
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Exercise 16–1 Requirement 1 Since taxable income is less than pretax accounting income‚ a future taxable amount will occur when the temporary difference reverses. This means a deferred tax liability should be recorded to reflect the future tax consequences of the temporary difference. Income tax expense (to balance) 140‚000 Deferred tax liability ([$400‚000 – 250‚000] x 35%) 52‚500 Income tax payable ($250‚000 x 35%) 87‚500 As a result‚ net income is $260‚000: Pretax accounting
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changed. I realized that this had happened to me not once but twice. I didn’t expect it to happen because I was a very athletic person. This brings me to the events that changed my life from wanting to be a soccer player to now wanting to be an accountant. It all began when I wasn’t born yet. According to my mom she always told me that I used to kick a lot inside of her whom. She always said that I would be a famous soccer player. When I was six years old I saw my first soccer match on TV. It was
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Professional Accountants in the Modern era | Term Report | | | Submitted by:Komal BashirHumayun BabarSubmitted to:Prof Abdul Rahim SuriyaDate:6th January‚ 2010 | Sohail Wajahat‚ CEO Siemens Pakistan Limited‚ at a recently held award ceremony at ICAP said the role of a Professional accountant was similar to a doctor. “You know the financial problems and their solutions as doctors know the problems of a human body‚” Courtesy: the Financial Daily Professional accountant: A professional
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Exercises 1. Synergy Valuation a. Cost and revenue synergies Managers of an acquiring company anticipate cost savings pretax of $50 million in the first year of the deal and $100 million the next and that thereafter the savings would grow @ inflation‚ 2%. Marginal tax rate is 30%. The firm must invest $1 billion to achieve these savings and starting in the third year must spend 5% of the pre-tax savings to sustain the rate of savings. As part of rationalization of operations‚ some assets will be
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WHAT THEY DO: Accountants and auditors examine financial statements for accuracy and conformance with laws. Accountants and auditors prepare and examine financial records. They ensure that financial records are accurate and that taxes are paid properly and on time. Accountants and auditors assess financial operations and work to help ensure that organizations run efficiently. Duties Accountants and auditors typically do the following: • Examine financial statements to be sure that they are
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John Mullin Audit 5610 Case 6.7 9/25/12 Hamilton Wong‚ In-Charge Accountant 1. If I were placed in Hamilton Wong’s position I would report all of my time worked during the audit of Wille & Lomax. This practice of “eating time” is unethical. While most accounting firms probably feel this type of practice is unacceptable‚ it still happens. If you don’t report all your worked time‚ how does the firm bill their clients properly? What about future audits for the same company? If underreporting
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What should the new organizational structure look like? Where should I put each person‚ specifically managers? The new structure will use matrix organizational form as follows: 1. All managers will be under ISD Director directly including Project Manager X and Project Manager Y. 2. Associate Director position will not be needed. 3. Project Manager X and Project Manager Y will cross their project responsibility with the line management functional responsibility to give project managers
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Recommendation Brief for an Internal Accountant ACC/544 Recommendation Brief for an Internal Accountant Currently‚ a client with an out-of-control system is grasping for a change in order to regain their internal controls. For any company‚ internal controls are highly important for success. Internal controls assist with minimizing mistakes and dishonesty; however will not completely eliminate them. The client has an out-of-control system in operation and will definitely
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